Sepsis can be defined as the body’s reaction to the fungal, bacterial, viral, or parasitic infection, which may further lead to systemic inflammatory reaction and organ dysfunction or organ failure. Depending on severity of infection, sepsis is classified into three types: sepsis, severe sepsis, and septic shock. Severe sepsis is associated with organ dysfunction and acute alteration in mental status, while septic shock is defined as severe sepsis with signs of abnormalities in cellular metabolism and dangerously low blood pressure and organ dysfunction, which is considered to be medical emergency. Sepsis is one of the most common causes of death in hospitalized patients. According to data revealed by the Centers for Disease Control and Prevention, sepsis affects around 800,000 people in the U.S. each year and it is the ninth leading cause of disease-related deaths in North America. Death can be as a result of hypotension, organ failure, high heart rate, and extreme body temperatures or due to a combination of these. Sepsis affects different populations in different manner according to race, age, severity of infection, ethnicity, etc. It is more common in the elderly and infants. According to UNICEF and WHO report (2012), severe cord sepsis was one of the top three causes of newborn death worldwide, causing 13% neonatal deaths.
Major factors driving the growth of the global sepsis diagnostics market are rising prevalence of different antibiotic resistant bacterial strains, aging population, increasing health care awareness and health care expenditure. Furthermore, rising number of surgical procedures and increase in the number of product approvals for diagnosis of sepsis are expected to support the growth of the global sepsis diagnostics market in the near future. High incidence of hospital acquired infection is the major factor accelerating the growth of the global sepsis diagnostics market. According to the Centers for Disease Control and Prevention (CDC) (2011), approximately 1.7 million HAIs from all types of bacteria combined are reported in the U.S. each year. In addition, according to the ECDC estimates, around 4.1 million patients were diagnosed with HAI in Europe (including 30 nations) in 2013. However, lack of standard protocols and shortage of skilled staff in developing countries is hampering growth of the sepsis diagnostics market.
The global sepsis diagnostics market has been segmented based on technology, product, pathogen type, end-user, and region. In terms of technology, the global sepsis diagnostics market has been segmented into molecular diagnostics, microbiology, immunoassay, and flow cytometry. The molecular diagnostics segment is expected to hold the largest share of the market. Increasing need of quick and accurate results and technological advances in molecular diagnostics field are expected to fuel the growth of the segment during the forecast period.
Based on product, the global sepsis diagnostics market has been divided into instruments, assay and reagents, software, and others. The assays and reagents segment is expected to dominate the global sepsis diagnostics market in terms of revenue in the near future. High share of the segment is attributed to increasing usage of assays, along with rising number of product approvals for marketing and commercialization globally.
In terms of pathogen type, the global sepsis diagnostics market has been segmented into bacterial sepsis, viral sepsis, fungal sepsis, and others. The bacterial sepsis segment dominated the global sepsis diagnostics market and this trend is expected to continue during the forecast period. Rise in cases of bacteria caused hospital-acquired pneumonia, bloodstream infections, and urinary tract infection is attributed to the highest share of the segment. Based on end-user, the global sepsis diagnostics market has been segmented into hospitals, specialized clinics, outpatient surgical centers, diagnostic centers, and pathology laboratory.
In terms of region, the global sepsis diagnostics market has been segmented into five key regions: North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America dominated the global sepsis diagnostics market in terms of revenue, while Asia Pacific dominated the market in terms of volume. Increasing cases of neonatal umbilical cord sepsis in India, Pakistan, and China are creating significant opportunities in the sepsis diagnostics market in APAC. According to a study by Mullany et al., Nepal revealed 16% prevalence of cord infection, also around six percent, 0.521 million deaths occurred in five countries of India, Nigeria, Democratic Republic of Congo, Pakistan and China in the year of 2008.
Key players in the global sepsis diagnostics market are Thermo Fisher Scientific, Inc., Luminex Corporation, Becton, Dickinson and Company, Abbott, Cepheid, T2 Biosystems, Inc., Roche Diagnostics Limited, and Bruker.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.