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Tuberculosis Diagnostics Market To Reach USD 3.58 Billion By 2027: Increase in the Incidence of Tuberculosis in Developing Countries is Drive Industry Growth

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Tuberculosis Diagnostics Market To Reach USD 3.58 Billion By 2027: Increase in the Incidence of Tuberculosis in Developing Countries is Drive Industry Growth

September 22
19:58 2022
Tuberculosis Diagnostics Market To Reach USD 3.58 Billion By 2027: Increase in the Incidence of Tuberculosis in Developing Countries is Drive Industry Growth
Tuberculosis Diagnostics Market
The global tuberculosis diagnostics market is expected to reach a market size of USD 3.58 Billion by 2027 and register a high revenue growth rate during the forecast period

The global tuberculosis diagnostics market is expected to reach a market size of USD 3.58 Billion by 2027 and register a high revenue growth rate during the forecast period, according to a new report by Reports and Data. Growing incidence of tuberculosis is a major factor driving growth of the tuberculosis diagnostics market.

According to the World Health Organization (WHO), every year, 8.8 million new cases of tuberculosis are found and approximately 2 million deaths are caused by the disease. Resistance to multiple drugs among patients suffering from tuberculosis is another key point of concern.

Increase in the incidence of tuberculosis in developing countries and rise in awareness about the disease are driving growth of the tuberculosis diagnostics market – Our Expert Opinion

 

Rise in initiatives by governments and independent organizations to control the spread of tuberculosis is also contributing to growth of the global tuberculosis diagnostics market. Various organizations are trying to create awareness regarding the infectious disease, especially in underdeveloped countries, to limit the disease spread. over the years due to rapid and reliable results. This limits growth of the global tuberculosis diagnostics market.

Further Key Findings from the Report Suggest:

  • Latent tuberculosis is not contagious, unlike active tuberculosis. Countries with high prevalence of tuberculosis have a higher percentage of latent tuberculosis patients. The need to test latent tuberculosis drives demand for tuberculosis diagnostics. This factor in turn boosts market growth.
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  • Nucleic acid testing of tuberculosis provides a higher level of accuracy. Developed regions have high demand for nucleic acid testing. Advancements in for Tuberculosis diagnostic and rise in commercialization of nucleic acid testing are factors driving growth of the segment.
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  • The hospitals end-use segment accounted for the largest revenue share in the global tuberculosis diagnostics market in 2019. The large number of admissions of tuberculosis patients in hospitals is fueling growth of the hospitals segment.
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  • The Asia Pacific market accounted for the largest revenue share in the global tuberculosis diagnostics market in 2019, owing to increase in healthcare budgets by governments of developing economies in the region, including India.

 

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3742

Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.

The growing popularity of over-the-counter medications driving market growth

Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.

Restriction on product launches and R&D activities to hamper the market growth

The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.

Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.

Top Companies Profiled in the Report:

Alere Inc., F.Hoffmann-La Roche AG, Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Siemens, Hologic Corporation, Cepheid, Hain Lifesciences GmbH, and Thermo Fisher Scientific Inc.

Tuberculosis Diagnostics Market Segmentation:

Disease Stage Outlook (Revenue, USD Billion; 2017-2027)

  • Latent Tuberculosis
  • Active Tuberculosis

 

Test Type Outlook (Revenue, USD Billion; 2017-2027)

  • Radiographic Method
  • Cytokine Detection Assay
  • Nucleic Acid Testing
  • Detection of Latent Infection
  • Diagnostic Laboratory Method
  • Detection of Drug Resistance
  • Others

 

End-use Outlook (Revenue, USD Billion; 2017-2027)

  • Clinics
  • Hospitals
  • Research Institutes & Academics
  • Reference Laboratories

 

Regional Outlook:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)

 

Frequently asked questions addressed in the report:

  • What is the revenue growth rate of the global Tuberculosis Diagnostics market over the forecast period?
  •  
  • What are the major factors driving the growth of the Global Tuberculosis Diagnostics Market?
  •  
  • What are the key challenges impacting the global Tuberculosis Diagnostics market growth?
  •  
  • What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?

 

Thank you for reading our report. For more details please connect with us and our team will ensure the report is customized to meet all the needs of clients. The report also offers a comprehensive regional analysis and specific countries can be included in the report according to the requirements.

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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