According to a report published by Grand View Research, Inc.; the neglected tropical diseases (NTD) diagnosis market is expected to reach a valuation of around USD 7.6 billion by 2025.
Rising disease burden, increasing demand for early disease identification, and technological advancements can boost the market during the forecast period (2014 to 2025).
Increasing concern regarding NTD and its impact on global population as well as governments has increase the demand for development of early disease detection methods. Growing programs to manage NTDs is likely to have positive impact on the market. NTD did not receive much attention as compared to malaria or HIV. But, now they are gaining attention from healthcare sector. This is expected to increase expenditure for R&D of diagnostic and treatment methods. Diagnostics plays an important role in order to provide better treatment. However, there is still gap between clinical diagnosis and treatment of NTDs. This has increased the demand for highly sensitive and quick diagnostic tests to satisfy unmet requirements. Moreover, the market is likely to get benefit from active involvement of international health organizations like PATH in the development of better diagnostic methods.
Full Research Report On Neglected Tropical Diseases Diagnosis Market Analysis: https://www.grandviewresearch.com/industry-analysis/neglected-tropical-diseases-diagnosis-market
Worldwide neglected tropical diseases diagnosis market can be segmented on the basis of disease, diagnostic method, service type, end-use, and region. Based on diseases, the market can be bifurcated into chikungunya, dengue, rabies, buruli ulcer, leprosy, yaws, taeniasis/cysticercosis, lymphatic filariasis, echinococcosis, foodborne trematodiases, chagas disease (american trypanosomiasis), dracunculiasis, soil-transmitted helminth infections, african trypanosomiasis, onchocerciasis, schistosomiasis, leishmaniasis, scabies and other ectoparasites, and snakebite envenoming.
In 2016, dengue segment estimated the major market share and likely to maintain same position over the study period due to supportive efforts from healthcare companies and institutes for developing and commercializing improved and less complicated disease diagnostic platforms. According to updates provided by WHO in 2017, the worldwide occurrence of dengue has increased significantly in recent decades, and it is recognized that half of the world’s residents are at risk of acquiring the disease. Though there are many diagnostic kits are available for dengue virus detection, this segment is expected to provide many opportunities in the coming years.
As per diagnostic method, the market can be spilt into conventional method and molecular/modern method. Conventional diagnostic method segment estimated for larger market share due to high adoption of these methods including biochemical methods, pathogen culturing, serology tests, and gram staining. Molecular/modern diagnostic segment is expanding at lucrative rate and likely to succeed conventional methods in the years to come due to their benefits such as accuracy, timelines, and specificity.
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On the basis of service type, the market can be classified into centralized service and POC service.
In 2016, centralized services reported for the major market share due to their easy access. But, point-of-care testing (POCT) services projected to show lucrative growth in the coming years due to their easy access and portability.
Based on end-use, the market can be bifurcated into clinical labs, hospitals /clinics, and home healthcare.
Geographically, the market can be divided into Asia Pacific, Latin America, Middle East & Africa, North America, and Europe. In 2016, Asia Pacific estimated for the largest market share due to high prevalence of these diseases, access to assays, availability of diagnostics, and huge target population. The region is likely to retain its position during the forecast period owing to improving economic conditions, high prevalence of neglected tropical diseases and growing healthcare infrastructure development in emerging countries including China and India.
Latin America is anticipated to show significant growth in the coming years due to presence of untapped potential and growing awareness among the population regarding methods of combating NTDs.
Key players operating in the market include InBios International, Inc.; Thermo Fisher Scientific, Inc.; Omega Diagnostics Group PLC; F. Hoffmann-La Roche Ltd.; and Oscar Medicare Pvt Ltd. Participants in the market are undertaking several strategic efforts such as innovation and new product development, collaborations, and partnerships to increase their share in the market.
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