“Increasing prevalence of infectious diseases and the rising funding for R&D are driving the overall growth of the infectious disease diagnostics market”
The global infectious disease diagnostics market size is projected to reach USD 33.1 billion by 2027 from USD 35.5 billion in 2022, at a -1.4% CAGR. Market is driven by factors such as indication of infectious diseases, growing trend in POC testing and rising technological advancements. However, an unfavorable reimbursement scenario is expected to limit market growth to a certain extent in the forecasted years.
“The reagents, kits, and consumables accounted for the largest market share in the infectious disease diagnostics market, by product & service, during the forecast period”
The infectious disease diagnostics......
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“The global in vitro toxicology testing market is projected to grow at a CAGR of 10.8%.”
The in vitro toxicology testing market is expected to reach USD 18.6 billion by 2027 from an estimated USD 11.2 billion in 2022, at a CAGR of 10.8%.Factors such as, technological advancements, and increasing R&D expenditure to detect toxicity at an early stage during drug development are the factors to drive the market
“The ADME segment is expected to account for the largest market share in 2021.”
Based on toxicity endpoints and tests undertaken across all industries, the in vitro toxicity testing market is segmented into genotoxicity; cytotoxicity; ADME; skin irritation, corrosion, & sensitization; ocular toxicity; organ toxicity; phototoxicity; dermal toxicity; and other endp......
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“Rising funding for R&D in molecular diagnostics and increasing prevalence of infectious diseases and cancer are driving the overall growth of the molecular diagnostics market”
The global molecular diagnostics market is projected to reach USD 30.2 billion by 2027 from USD 23.2 billion in 2022, at a CAGR of 5.4% during the forecast period. Market growth is driven by factors such as the increasing use of PoC diagnostic tests, the rising funding for R&D in molecular diagnostics, the increasing prevalence of infectious diseases and cancer. On the other hand, an unfavorable reimbursement scenario and the high cost of instruments may restrain the growth of this market to a certain extent.
“The DNA sequencing & NGS segment accounted for the highest growth rate in the molec......
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“The rising an essential precondition for operational excellence and accreditation in several industries is expected to drive the overall growth of the laboratory proficiency testing market.”
The global laboratory proficiency testing market is projected to reach USD 1.4 billion by 2026 from USD 1.0 billion in 2021, at a CAGR of 6.4%. With proficiency testing being a mandatory procedure to be undertaken by laboratories functioning in different industries which are under regulation by organizations such as the CLIA, APLAC, and CLSI, the market for proficiency testing is expected to witness significant growth during the forecast period. PT forms an essential precondition for operational excellence and accreditation in several industries. This is one of the major factors driving the gro......
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“The Liquid Handling System market is projected to grow at CAGR of 5.1% from 2021 to 2026”
The global liquid handling systems market is expected to reach USD 5.1 billion by 2026 from USD 4.0 billion in 2021, at a CAGR of 5.1% during the forecast period. The growth of this market is majorly driven by industrial growth in the pharma-biotech sector, rising R&D expenditure by biopharma companies, and growing life science research, supported by a favorable funding scenario. However, the slow adoption of automation among small and medium-sized laboratories may restrain the market growth.
“Pipettes in the product segment to witness the highest growth during the forecast period.”
Based on the products, the global liquid handling system market is segmented into Pipettes, Consum......
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The global IVD market is projected to reach USD 113.1 billion by 2026 from USD 98.2 billion in 2021, at a CAGR of 2.9% during the forecast period. The growth of the IVD market is mainly driven by the rising geriatric population and the subsequent growth in the prevalence of chronic and infectious diseases, increasing adoption of fully automated and POC instruments in developed regions, growing awareness regarding diseases diagnosis in developing regions, and growing R&D investments by industry players to launch new IVD products. Also, the development of disease-specific markers and tests is expected to offer potential growth opportunities to market players in the coming years. However, the unfavorable reimbursement scenario is expected to restrain the growth of this market during the f......
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“Dearth of skilled laboratory technicians”
The global point of care diagnostics market is expected to reach USD 72.0 billion by 2027 from an estimated USD 43.2 billion in 2022, at a CAGR of 10.8% from 2022 to 2027. Point-of-care testing (POCT) includes screening or diagnostic tests performed outside traditional laboratories. These tests are designed to be used at or near the site where the patient is located (such as at home, in an ambulance, at a physician’s office, and other locations). POCT allows rapid and reliable diagnostic testing through which outcomes can be obtained instantly, helping physicians/patients to make decisions related to care remotely and as soon as possible. Market growth is mainly driven by the high prevalence of infectious diseases, supportive government p......
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The organ preservation market is expected to grow at a CAGR of 6.6% in the forecast period.
The global organ preservation market is projected to reach USD 317 million by 2026 from USD 270 million in 2021, at a CAGR of 6.6%.Growth in this market is majorly driven by the increasing incidence of multi-organ failure, the growing geriatric population, the rising number of organ transplants and organ donors, and increasing initiatives to encourage organ donations.
However, concerns related to the high cost of organ transplantations and religious concerns in specific geographies are expected to limit the growth of this market to a certain extent.
“The University of Wisconsin (UW) holds the largest market share in the solution market.”
Based on the Solution, the segment is divided ......
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The medical refrigerators market was valued at USD 3.5 Billion in 2020 and is projected to reach USD 4.9 Billion by 2026, at a CAGR of 6.0% during the forecast period. The medical refrigerators market is on course for intense growth across different end use industries such as blood banks, pharmaceutical companies, hospitals, & pharmacies, research institutes, medical laboratories, and diagnostic centers.
“The ultra-low temperature freezers segment, by value, is projected to grow at the highest CAGR during the forecast period”
By product type, ultra-low temperature freezers segment is expected to grow at the highest CAGR during 2021 to 2026, by value. Ultra-low temperature freezers (ULT freezers) are used for the storage of drugs, enzymes, chemicals, bacteria, viruses, cell pr......
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“Increasing prevalence of infectious diseases and cancer and the rising funding for R&D are driving the overall growth of the point-of-care molecular diagnostics market”
The global point-of-care molecular diagnostics market size is projected to reach USD 4.1 billion by 2026 from USD 2.8 billion in 2021, at a CAGR of 8.2% during the forecast period. Market growth is driven by factors such as the increasing prevalence of infectious diseases and cancer, rising focus on decentralized diagnostics and increasing R&D funding, increasing awareness on the early detection of infectious diseases, and the increasing use of POC diagnostic tests. On the other hand, stringent and time-consuming regulatory policies that significantly increase the product launch cycle may challenge market gr......
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