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COVID-19 to accentuate the global demand for infectious disease diagnostics market

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Technological encroachment has rapidly changed the landscape of infectious disease diagnostics. Research and development activities in innovative technologies and techniques such as mass spectrometry and next-generation sequencing (NGS) are changing the way how rapid diagnostics are being performed to detect diseases. Besides, the surging inclination of end-user towards point-of-care testing is projected to propel the global infectious disease rapid diagnostic testing market. Diagnosis of a disease is the first step for drug discovery and eradication of a disease. Thus, diagnostics of infectious diseases can help in controlling the deaths and outbreak of a disease.

According toMarkNtel Advisors’ research report“Global Infectious Diseases Rapid Diagnostic Testing Market Analysis, 2020”, global Infectious Diseases Rapid Diagnostic Testing market is anticipated to grow at a CAGR of less than 10% during 2020-25. Due to the turmoil of COVID-19 outbursts the rapid infectious disease testing is accentuating the usage of diagnostics rapid testing market. Companies are introducing new kits to perform self-assessment tests by individuals. For instance, the National Health Research Institutes (NHRI) in Taiwan launched in April 2020, a rapid diagnostic test for the COVID-19, promising results within 10 to 15 minutes. The test works by placing a specimen taken from the mouth or nose onto a test strip, which siphons the specimen toward the antibodies on the strip.

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Cost Effective Kits to Induce Demand

Launch of cost-effective and reliable test kits is projected to offer lucrative growth prospects for players in the market. Very few effective diagnostic test kits are available for infectious diseases globally but the leading players amid COVID-19 are introducing rapid diagnostic kits for self-assessment. The high price of existing test kits and the absence of effective diagnostic tools and has generated the need for cost-effective test kits with high specificity and sensitivity. Furthermore, R&D in diagnostic kits is are anticipated to burgeon the growth in the market as revealed by the MarkNtel Advisors’ research report“Global Infectious Diseases Rapid Diagnostic Testing Market Analysis, 2020”.

Point-of-care tests Would Intensify the Market Growth
Point-of-care tests provide faster results without the sample being sent to diagnostic laboratories for testing. Thus, the emphasis on the development of point-of-care tests for the diagnosis of numerous infectious diseases is high. Therefore, due to this factor, a higher demand is expected for diagnostic kits. Companies such as Alere and Cepheid are concentrating on developing analytical systems, that provide near-patient molecular assay results.

Developments by Key Players in the Market

Manufacturing companies are focusing on introducing new services to enhance their market share. For instance, Quest Diagnostics launched a coronavirus (COVID-19) test service that aids the presumptive detection of nucleic acid in respiratory specimens of patients meeting the Centers for Disease Control and Prevention’s clinical criteria for COVID-19 testing in March 2020. Furthermore, the major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance,ThermoFisher Scientific Inc. acquired acquire QIAGEN N.V., a provider of molecular diagnostics and sample preparation technologies in march 2020. The deal was finalized for USD 11.5 billion.According to MarkNtel Advisors’,Siemens Healthcare Diagnostics, Hologic, Thermo fisher Scientific, Abbott Diagnostics, Becton Dickinson & Co., Artonn Laboratories, ACON Laboratories, Zoetis Inc., McKesson Medical surgical, Alfa Scientific are few of the leading players in the Global Infectious Diseases Rapid Diagnostic TestingMarket.

“GlobalInfectious Diseases Rapid Diagnostic Testing Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for infectious disease rapid diagnostic testing providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor’s capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

Market Segmentation:
1. By Technology (Flow Through, Solid Phase, Lateral Flow, Agglutination Assays),
2. By Type (HIV, Hepatitis, Influenza, Malaria, HPV, Respiratory, Mycobacteria, Parasitology, Others),
3. By End-User (Hospitals and Clinical Testing, Home Testing, Veterinary Testing),
4. By Country (US, Canada, Mexico, Brazil, Argentina, UK, Germany, Italy, Spain, China, India, Japan, South Korea, Australia,UAE, Saudi Arabia),
5. By Company (Siemens Healthcare Diagnostics, Hologic, Thermo fisher Scientific, Abbott Diagnostics, Becton Dickinson & Co., Artonn Laboratories, ACON Laboratories, Zoetis Inc., McKesson Medical surgical, Alfa Scientific)

Key questions answered in the study
1. What are the current and future trends of the infectious disease rapid diagnostic testing industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the infectious disease rapid diagnostic testing industry?
5. What are the customer orientation, purchase behavior, and expectations from the infectious disease rapid diagnostic testing firms across various regions?

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