Growing adoption of Point-of-care testing services and introduction of home healthcare facilities are key factors fueling global market growth
The global neglected tropical diseases (NTD) diagnosis market size is expected to reach USD 8.63 billion by 2028 and register a CAGR of 4.3%, according to the latest report by Reports and Data. Rising prevalence of various neglected tropical diseases around the globe and several government initiatives to raise awareness about these diseases are driving global market revenue growth.
Neglected tropical diseases (NTD) are caused by bacteria, viruses, and parasites in low-income populations owing to poor health and hygiene, lack of proper sanitation, and clean water. Chikungunya, lymphatic Filariasis, taeniasis/cysticercosis, and dengue are common neglected tropical diseases. One of the primary factors fueling global market growth is increasing awareness about significance of early detection of NTD and growing efforts for improving healthcare facilitates across the globe. In addition, increasing investments for research and development of diagnostic tools and rising government programs to tackle neglected tropical diseases are further boosting global market.
However, factors, such as high-priced diagnostic tools, unavailability of skilled professionals to operate advanced diagnostic systems, and imposition of unfavorable regulations, are expected to hamper growth of the global neglected tropical diseases diagnosis market over the forecast period.
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, brand promotions, and corporate deals, among others.
Key companies operating in the market and profiled in the report include:
Thermo Fisher Scientific Inc, ZeptoMetrix Inc, InBios International Inc, Abbott, Genome Diagnostics Pvt. Ltd, Coris Bioconcept SPRL, Omega Diagnostics Group PLC, DiaSys Diagnostic Systems GmbH, and Oscar Medicare Pvt. Ltd.
The Neglected Tropical Diseases Diagnosis market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
Disease Outlook (Revenue, USD Million, 2018 - 2028)
- Buruli Ulcer
- Lymphatic Filariasis
- Foodborne Trematodiases
- Chagas Disease (American Trypanosomiasis)
- African Trypanosomiasis
- Soil-transmitted Helminth Infections
- Scabies and Other Ectoparasites
- Snakebite Envenoming
Diagnostic Method Outlook (Revenue, USD Million, 2018 - 2028)
- Conventional Method
- Molecular/Modern Method
Service Type Outlook (Revenue, USD Million, 2018 - 2028)
- Centralized Service
- POC (Point-of-care) Service
End-use Outlook (Revenue, USD Million, 2018 - 2028)
- Clinical Laboratories
- Hospitals and Clinics
- Home Healthcare
Key Regions Analyzed in the Report include:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Furthermore, it consists information about individual segment of the Neglected Tropical Diseases Diagnosis market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
Some key highlights in the report:
- Based on the disease type, the lymphatic filariasis segment is expected to register fastest revenue CAGR over the forecast period owing to rising prevalence of lymphatic system disorders worldwide and growing adoption of rapid antigen tests.
- Among the diagnostic methods, the conventional methods segment is expected to account for significant revenue growth owing to high availability and usage of conventional methods such as serology tests, pathology culturing, and gram staining. Though the modern methods are more reliable.
- The clinical laboratories segment accounted for largest revenue share in 2020 and is expected to continue its dominance over other end-use segments in the global neglected tropical diseases diagnosis market over the forecast timeline. High revenue share is attributable to increasing number of clinical laboratories, rising prevalence of neglected tropical diseases, and availability of advanced diagnostic kits across several countries.
- North America is expected to account for significant revenue share over the forecast period. Factors, such as rising prevalence of neglected tropical diseases, availability of rapid diagnostic services, and growing adoption of POC testing at home healthcare are key factors fueling market growth.
- The market in the Middle East and Africa is expected to account for high revenue growth throughout the forecast period owing to growing recurrence of NTDs and increasing adoption of modern diagnostic services.
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