Tuberculosis Testing Market to Reach US$2.6 bn by 2020 owing to Increasing Tuberculosis Awareness and Control Programs Globally A new Transparency Market Research report states that the global tuberculosis testing market stood at US$1.9 bn in 2013 and is predicted to reach US$2.6 bn by 2020. It is predicted to expand at a CAGR of 4.30% from 2014 to 2020. The title of the report is “Tuberculosis Testing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.� The rising acceptance of numerous TB testing techniques owing to the increasing prevalence of diseases globally is propelling the market for tuberculosis testing. In addition, a number of tuberculosis awareness and control programs launched by various non-government and government organizations globally will also augment the market for tuberculosis testing. Furthermore, the great market potential exhibited by a number of developing economies globally will bring in new growth opportunities in the market. On the other hand, factors such as the soaring costs of numerous tuberculosis tests may impede the growth of the market in forthcoming years.
The global tuberculosis testing market continues to grow as governments and institutions across the globe continue to make efforts to eradicate this deadly communicable disease. Statistics gathered by the WHO state that 9 million people acquired tuberculosis (TB) in 2013 and 1.5 met a fatal end, out of which 360,000 were HIV positive. These figures are declining with each passing year thanks to the increasingly effective diagnosis and treatment options offered to patients. It is estimated that such initiatives were able to save the lives of 37 million tuberculosis patients between 2000 and 2013. Tuberculosis can be broken down into two types, namely active disease, which can transform to multi-drug resistant TB or MDR-TB, and latent disease. Tuberculosis also has a rare form called miliary TB, which occurs when TB infection finds its way to the bloodstream. The priority steps to counter MDR-TB are supreme quality of treatment for drug-susceptible TB to avert MDR-TB, expanding the reach of testing and detection of MDR-TB cases to remote regions, simplifying the access to good healthcare, infection control, and strengthening the political commitment, especially in BRIC nations, which constitute 50% of global TB cases. The efforts taken by governments, social activists, and several healthcare institutions have translated into positive results. A ripple effect of these efforts can also be seen in the growth of the global tuberculosis testing market. The global tuberculosis testing market was worth US$1,936.1 million in 2013. By 2020 this market is expected to reach a valuation of US$2,619.4 million, growing at a promising CAGR of 4.3% from 2014 to 2020.
Browse Full Research Report on Tuberculosis Testing Market: http://www.transparencymarketresearch.com/tuberculosis-testing-market.html The factors driving this gigantic growth are the rising number of tuberculosis cases, increasing acceptance of innovative methods for treating tuberculosis, and enhanced molecular and rapid culture diagnostic tests. The serious involvement and dedicated efforts of non-profit healthcare organizations are further boosting the global tuberculosis testing market. Growing tuberculosis cases have also resulted in increased research and development budgets, encouraging manufacturers to launch better testing technologies. The global tuberculosis testing market is classified on the basis of type and geography. The segments by product type are culture-based tests, smear microscopy, nucleic acid testing, radiography (chest x-ray), Mantoux test (tuberculin skin test), drug susceptibility test (DST), and other tests such as serological tests, ADA, and IGRA. Geographically, the global tuberculosis testing market is fragmented into North America, Asia Pacific, Europe, and Rest of the World. Out of these segments, culture-based tests hold a lion’s share in the global tuberculosis testing market. These tests are inclusive of both solid and liquid culture tests. Analysts predict that other segments such as serological tests and IGRA will grow rapidly in the coming five years as well. All of these tuberculosis testing methods generate quick results, offer improved accuracy, and require the patient to just one visit. Geographically, Asia Pacific led the global tuberculosis testing market in 2013, closely followed by North America. The prime factor driving the unprecedented growth rate in Asia Pacific is a huge patient pool, which continues to grow at a rapid rate, especially in countries such as China and India. Though North America has a smaller patient pool, the tuberculosis testing market is expected to grow in this region due to increasing awareness, better healthcare infrastructure, and growing acceptance and adoption of expensive TB tests due to improving purchasing power of patients. Some of the key players in the global tuberculosis testing market are Akonni Biosystems Inc., Abbott Laboratories, Becton, Alere Inc., Dickinson and Company, Cepheid, Epistem plc, bioMérieux SA, F. Hoffmann-La Roche Ltd., Hologic, QIAGEN, Hain Lifescience GmbH, Sanofi, and Thermo Fisher Scientific Inc.
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