Any medical treatment’s course must be determined by the results of the diagnostic process. Diagnostics for infectious diseases assist in identifying illnesses brought on by harmful infections. The field of diagnostics is developing quickly, and during the past few years, the global market for infectious disease diagnostics has been expanding steadily. Over the eight-year projection period, 2016-2024, the market for diagnostics for infectious illnesses is expected to grow at a CAGR of 7.0%. By the end of 2016, the market will have grown from its 2015 value of US$ 827.7 Mn to US$ 876.6 Mn. By the end of 2024, revenues are anticipated to reach US$ 1503.8 Mn.
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Disease diagnostics are utilised to provide an immediate, accurate test result that confirms the presence of a disease. Disease tests take a lot of time, and their use has increased recently. There is a huge demand for diagnostic tests as a result of the global outbreaks of infectious diseases. Additionally, there is a high demand for diagnostics for infectious diseases due to the increased frequencies of malaria, the flu, AIDS, and other illnesses. Infectious disease diagnostic kits are more likely to acquire momentum over the projection period as more doctors switch to evidence-based treatment strategies.
Around the world, a number of government-funded organizations are progressively offering free screenings and tests in an effort to raise awareness and correctly diagnose diseases.
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Regional Evaluation
The market for infectious disease diagnostics is divided into five major regions based on regional analysis: North America (the U.S. and Canada), Latin America (Brazil, Mexico, and the rest of Latin America), Europe (France, Germany, Italy, Spain, the U.K., Russia, and the rest of Europe), Asia Pacific (China, India, Japan, Australia, New Zealand, ASEAN, and the rest of APAC), and Middle East & Africa (GCC countries, South Africa, and rest of MEA). Throughout the forecast period, APAC and MEA are anticipated to continue to be the two largest markets.
According to estimates, the APAC market will generate more than 26% of global market sales in 2016 and grow at a CAGR of 7.6% from 2016 to 2021. The MEA market will experience considerable growth due to expanding governmental initiatives, even though governments of various nations in Asia Pacific are gradually reporting increased demand for infectious diseases diagnostic kits, creating the largest market in this area.
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