Tuberculosis Diagnostics Market: Overview
The tuberculosis diagnostics market is likely to witness a meteoric increase in growth rate during the forecast period 2019-2029, with various tuberculosis awareness initiatives and campaigns serving as the main driver. According to the World Health Organization (WHO), 1.5 million people died of tuberculosis in 2018. Tuberculosis is one of the top 10 causes of death worldwide. These facts highlight the need to diagnose tuberculosis at an early stage. Hence, this aspect can significantly boost the growth rate of the Tuberculosis Diagnostics market.
This Tuberculosis Diagnostics Market report strikes a chord by analyzing various factors influencing the growth rate. Some major parameters such as key trends, competitive landscape and regional outlook for the Tuberculosis Diagnostics Market have been thoroughly studied and covered in this report. Market players can greatly benefit from this in-depth report on Tuberculosis Diagnostics Market. Additionally, this report also sees the Tuberculosis Diagnostics market through the lens of the COVID-19 outbreak, thus giving a complete idea of the market scenario.
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Tuberculosis Diagnostics Market: Competitive Analysis
The tuberculosis diagnostics market has many new players and well-established players on its horizon. New startups are emerging with new TB diagnostic devices that help in the rapid detection of TB. Rapid approvals from governing bodies are also proving to be growth drivers for the tuberculosis diagnostics market. In addition, new product launches, mergers, acquisitions, collaborations, joint ventures, and partnerships are helping to increase the growth rate of the tuberculosis diagnostics market.
Some well-established players in the tuberculosis diagnostic market are BioMérieux SA, Thermo Fisher Scientific Inc., Abbott Laboratories, F.Hoffman-La Roche AG and Becton, Dickinson and Company.
Tuberculosis Diagnostics Market: Key Trends
The growing impact of the COVID-19 pandemic on the world has prompted many countries to adopt vigorous testing measures as one of the golden standards to flatten the curve. Many TB diagnostic devices are proving beneficial for rapid COVID-19 testing. Hence, this factor could be a game-changer for the tuberculosis diagnostics market. Many manufacturers are redesigning or incorporating new formulations to make TB diagnostic devices effective for COVID-19 testing.
Governments in various countries are approving TB diagnostic platforms to increase the detection rate for COVID-19. For example, the Indian government recently approved the TrueNAT testing platform for COVID-19 testing.
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Approvals of new TB screening methods are also proving to be the knight in shining armor for the growth of the TB diagnostics market. Recently, a combined team of researchers from the United States and India designed a point-of-care tuberculosis triage test kit. It is based on proteins that act against tuberculosis. Thus, such developments are accelerating the growth rate of the tuberculosis diagnostics market.
Tuberculosis Diagnostics Market: Regional Outlook
The tuberculosis diagnostics market is geographically categorized into North America, Middle East & Africa, Europe, Asia-Pacific, and South America. Asia-Pacific could raise the bar for TB diagnostics market growth owing to rising prevalence of TB in India, Indonesia, Bangladesh, Pakistan, and China. According to the WHO, eight countries account for two-thirds of TB cases worldwide, most of which are from Asia-Pacific. Additionally, as mentioned in the “Key Trends” section, the Indian government has approved the TRUENat test for COVID-19. Furthermore, India aims to end TB by 2025. Hence, these factors can also prove to be key influencers for the growth of the TB diagnostics market.
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