Sepsis Diagnostics Market size is estimated to reach $801.19m by 2025, growing at a CAGR of 8.32% during the forecast period 2020-2025. Sepsis is a fatal condition caused by the body’s response to an infection. The body usually releases chemicals into the bloodstream to fight infection. Sepsis occurs when the body’s response to these chemicals is unbalanced, leading to the changes that can damage multiple organ systems. Sepsis is one of the common causes in hospitalized patients. Increasing prevalence in hospital-acquired infections which must be diagnosed boosts the market growth. The rising number of surgical procedure and increase in the number of product approvals for diagnosis of sepsis are estimated to support the growth of the global sepsis diagnostics market in the forecast period 2020-2025.
By Product – Segment Analysis
The global Sepsis Diagnostics market based on Product has Blood Culture Media, Assays & Reagents, Instruments, and Software. The blood culture media segment registered for highest market share in 2019 and is set to continue for the forecast period (2020-2025). This segment is attributed to the fact that blood culture media is considered as the cost-effective and gold standard method by most of the clinicians.
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By Test Type – Segment Analysis
Based on test type, the market is segmented into laboratory tests and Point-of-Care tests. The laboratory tests segment registers for the highest market share in 2019 and is set to continue for the forecast period (2020-2025) owing to the rising number of blood culture tests being conducted in laboratories. Growing number of diagnostic laboratories coupled with the availability of advanced instruments are anticipated to foster the growth of this segment.
By Geography – Segment Analysis
The global Sepsis Diagnostics Market by geography had the dominant share in North America with in terms of revenue in 2019. This is owing to factors such as increasing demand for better healthcare facilities, high per capita healthcare expenditure, and increasing incidences of chronic diseases such as cancer, diabetes, and others leading to increasing hospital admissions and rising incidences of hospital acquired infections, and growing adoption of new and advanced diagnostic techniques. However, Asia-Pacific is estimated to outpace all the regions by clocking the highest CAGR during the forecast period owing to the increasing geriatric population in the region.
Drivers – Sepsis Diagnostics Market
Increased rate of hospital-acquired diseases
The demand for Sepsis Diagnostics is driving forward owing to the increasing prevalence of sepsis, the growing burden of hospital-acquired infections, the increasing number of pneumonia cases, the rise in the number of sepsis procedures, and an increase in funding for sepsis-related research activities. Besides, rise in demand for antibiotic resistant bacterial strains, aging population are acting as drivers for supporting the growth of the Sepsis Diagnostics market.
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Challenges – Sepsis Diagnostics Market
Lack of skilled workforce
Sepsis Diagnostics requires a well-trained and skilled workforce. The lack of skilled staff in developing countries is hampering growth of the global sepsis diagnostics market. However, lack of standard protocols has also become a challenge for the growth of market for the forecast period 2020-2025.
Sepsis Diagnostics Industry outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Sepsis Diagnostics Market. Key companies of this market are Abbott Laboratories, bioMerieux, Becton Dickinson Company, Danaher, Roche Diagnostics, T2 Biosystems, Luminex, Bruker, EKF Diagnostics, Thermo Fisher Scientific, Immunexpress, Response Biomedical, Axis-Shield Diagnostics, and CytoSorbents.
In July 2020, bioMerieux has announced the launch of Biofire Mycoplasma, an innovative test for mycoplasma detection in pharmaceutical products used for biotherapeutics.
In September 2019, Thermo Fisher Scientific signed an agreement with Lilly Oncology for companion diagnostic to be used with RET inhibitor.
Geographically, North America’s Sepsis Diagnostics market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to increasing demand for better healthcare facilities.
Rise in cases of hospital-acquired infections has helped in significant growth of Sepsis Diagnostics market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Sepsis Diagnostics Market report.
Lack of adequate skilled and well-trained workforce is anticipated to hamper the market growth of the Sepsis Diagnostics market.
Related Reports :
A. Molecular Diagnostics Market
B. Blood Culture Tests Market
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