Product Launch (Blog)

Nov, 09 2023

"Transforming Healthcare: Diagnostic Tests Paving the Way to a Healthier Tomorrow"

The demand for diagnostic tests is growing because people are getting sick more often, which required these tests to find the disease. These tests are getting better and faster with the help of technology. They help doctors to choose the right treatment, keep track of ongoing health issues, and catch problems early. These tests also help us monitor and control infectious diseases and are important for developing new drugs and finding out best options for patients.

According to Data Bridge Market Research analyses that the Diagnostics Tests Market, valued at USD 1,74,543.45 million in 2022, will reach USD 3,09,907.11 million by 2030, growing at a CAGR of 7.44% during the forecast period of 2023 to 2030.

“Rise in Demand of Personalized Medicine Boosts the Market Growth”

The rise in personalized medicine is expected to lift the growth of the diagnostic tests market because personalized treatment approaches often rely on precise diagnostic tests to identify the unique characteristics and needs of individual patients. As the demand for personalized medicine increases, it drives the development and utilization of more advanced and specific diagnostic tests, which in turn boosts the growth of the diagnostic tests market.

What restraints the growth of diagnostic tests market?

"High Costs Prevent the Growth of Diagnostic Test Market"

The high cost of diagnostic tests is expected to restrain the market's growth. Patients in low- and middle-income countries often struggle to access healthcare due to the financial burden associated with these tests. The costs involves manufacturing, distribution, and research and development, which may be passed on to patients or healthcare systems. This not only increases existing healthcare imbalance but can also burden healthcare providers and systems. If test prices rise significantly, it could have an unfortunate impact on the market's expansion, restraining accessibility and market growth.

Segmentation: Global Diagnostic Tests Market

The diagnostic tests market is segmented on the basis of type, solution, technology, mode of testing, approach, sample type, application, testing type, age, and end-user and distribution channel.

  • On the basis of type, the diagnostic test market is segmented into glucose test, infectious diseases test, cytology test, CBC test, blood culture test, syphilis test, urea test, c-reactive protein test, antigen test, HBA1C test, pregnancy test, lipid profile test, electrolytes test, liver function test, stool helicobacter pylori test, calcium test, crossmatch test, thyroid function test, stool microscopy test, urine microscopy test, unit packed RBCs test, ESR test and others test.
  • On the basis of solution, the diagnostic tests market is segmented into services and products.
  • On the basis of technology, the diagnostic test market is segmented into immunoassay-based, PCR-based, next gene sequencing, spectroscopy-based, chromatography-based, microfluidics, substrate technology and others.
  • On the basis of mode of testing, the diagnostic test market is segmented into prescription based testing, OTC testing.
  • On the basis of approach, the diagnostic test market is segmented into molecular diagnostic instrument, in-vitro diagnostic instrument & point of care testing instrument.
  • On the basis of sample type, the diagnostic test market is segmented into urine, saliva, blood, hair, sweat, and others.
  • On the basis of application, the diagnostic test market is segmented into cardiology, oncology, neurology, orthopedics, gastroenterology, gynecology, odontology, and others.
  • On the basis of testing type, the diagnostic test market is segmented into biochemistry, hematology, microbiology, histopathology and others
  • On the basis of age, the diagnostic test market is segmented into pediatric, adult & geriatric.
  • On the basis of end-user, the diagnostic test market is segmented into hospitals, diagnostic center, research labs and institutes, research institute, homecare, blood banks, specialty clinics, ambulatory surgical centers (ASCS), and others.
  • On the basis of distribution channel, the diagnostic test market is segmented into direct tenders, retail sales, and online sales.

Regional Insights: North America is expected to dominate the Global Diagnostic Tests Market

North America's dominates the diagnostic tests market due to rising aging population, leading to increased demand for medical tests. The region, especially the U.S. and Canada, have major companies developing innovative diagnostic solutions to meet this demand. For example, Canadian company bioLytical Laboratories Inc. Recently gained certification for their iStatis COVID-19 Antigen Home Test, underscoring North America's position as a key player in advanced diagnostics.

In addition, Asia-Pacific (APAC) region is experiencing significant growth in the diagnostic tests market during the forecast period due to its affordability of diagnostic tests for chronic diseases. Local manufacturers in APAC are playing a key role by offering diverse testing options, including tests for detecting coronavirus infection. This growth highlights the region's growing importance in the global diagnostic tests industry, presenting healthcare and business opportunities.

To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-diagnostic-tests-market

Recent Development in Diagnostic Tests Market

  • In 2021, Quidel Corporation and Beckman Coulter, a prominent player in the global diagnostics industry, entered into formal contractual arrangements to secure the rights for the development, manufacturing, and promotion of a BNP assay designed for Beckman Coulter analyzers. According to these agreements, Quidel will maintain the production of specific components related to the assay, which will be exclusively manufactured and marketed by Beckman Coulter under the brand name "Access BNP." This assay was previously recognized as TRIAGE BNP when developed by Quidel.
  • In 2020, Leica Microsystems, a subsidiary of Danaher, unveiled its pioneering confocal microscope platform called STELLARIS, marking a significant milestone for the company. This cutting-edge platform empowers researchers to observe and analyze live tissues and cells in three dimensions, offering a new level of insight and capabilities in the field of microscopy.
  • In 2020, Siemens Healthcare GmbH introduced the RAPIDPoint 500e Blood Gas Analyzer, expanding their product portfolio and contributing to their efforts in supporting initiatives related to COVID-19. This introduction has played a role in boosting the revenue of this product line. Additionally, in May 2020, F. Hoffmann-La Roche Ltd. made an official announcement regarding their acquisition of Stratos Genomics. This acquisition facilitated the advancement of diagnostic sequencing based on DNA, bolstering their presence in the healthcare diagnostics sector and increasing their revenue-generating potential.

The Prominent Key Players Operating in the Diagnostic Tests Market Include:

  • F-Hoffman La-Rcohe Ltd. (Switzerland)
  • Abbott (U.S.)
  • Danaher (U.S.)
  • BD (U.S.)
  • Thermo Fisher Scientific Inc. (U.S.)
  • ACON Laboratories Inc. (U.S.)
  • Hemosure (U.S.)
  • MicroGen Diagnostics (U.S.)
  • QIAGEN (Germany)
  • Grifols, S.A (Spain)
  • Boditech Med Inc.(South Korea)
  • Chembio Diagnostics, Inc (U.S.)
  • Nanoentek (South Korea)
  • DiaSorin S.p.A. (Italy)
  • Bio-Rad Laboratories, Inc. (U.S.)
  • BIOMEDOMICS INC (U.S.)
  • EKF Diagnostics Holdings plc (U.K.)
  • Siemens Healthcare GmbH (Germany)
  • PerkinElmer Inc. (U.S.)
  • BIOMÉRIEUX (France)
  • ARKRAY, Inc (U.S.)
  • Biohit Oyj (Finland)
  • Germaine Laboratories, Inc. (U.S.)
  • Quidel Corporation (U.S.)
  • Illumina, Inc. (U.S.)
  • LifeSign LLC. (U.S.)
  • Nova Biomedical (U.S.)
  • Ortho Clinical Diagnostics (U.S.)
  • STRECK (U.S.)
  • Sysmex Corporation (Japan).

Above are the key players covered in the report, to know about more and exhaustive list of diagnostic tests market companies contact, https://www.databridgemarketresearch.com/contact

Research Methodology: Global Diagnostic Tests Market

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.


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