The global Neglected Tropical Diseases Diagnosis market size is expected to be worth around US$ 17.6 billion by 2030, according to a new report by Vision Research Reports.
The global Neglected Tropical Diseases Diagnosis market size was valued at US$ 15.3 billion in 2020 and is anticipated to grow at a CAGR of 14.1% during forecast period 2021 to 2030.
Growth Factors
The combined effect of high impact factors such as soaring disease burden, growing demand for early disease identification, and complementary advancements in technology is expected to drive growth in demand.
Rising concern regarding Neglected Tropical Diseases (NTD) and its global impact on population as well as governments has fueled demand for development of early disease detection methods. This growth in concern is evident by launch of a substantial number of programs aiming to combat NTDs.
For instance, the Global Network for Neglected Tropical Diseases aims to raise awareness and funding, both of which are essential to control and eliminate the most common NTDs. In addition, various companies are undertaking efforts to develop less complicated and inexpensive diagnostic assays for tropical diseases. This, in turn, is anticipated to support the growth of this market throughout the forecast period.
Report Highlights
Dengue dominated the market in 2016 and is expected to maintain its position throughout the forecast period. This dominant share can be attributed to continuous efforts undertaken by healthcare companies and institutes to develop and commercialize enhanced and less complicated disease diagnostic platforms. For example, in November 2014, a research study was conducted to evaluate the effectiveness of dengue NS1 antigen rapid tests and ELISA kits from several companies, such as Bio-Rad and Alere, for early diagnosis.
As per WHO updates in April 2017, the global incidence of dengue has increased substantially in recent decades, and it is documented that half of the world’s population is at risk of acquiring the disease. Although there are a large number of diagnostic kits available for dengue virus detection, this segment still offers many opportunities for growth.
Factors taken into consideration while opting for various diagnostic methods include specificity, sensitivity, and cost-effectiveness as well as availability of skilled personnel. Conventional diagnostic methods are based on macroscopic and microscopic identification of pathogens through gram stain, pathogen culturing, biochemical methods, and serology tests.
Relatively greater availability of conventional methods, compared to modern techniques, across a large number of labs and clinics is a key factor that has enabled this segment’s dominance in the market. However, these tests have certain limitations pertaining to speed, timeline, and accuracy. Furthermore, rapid technological advances are compelling end users to opt for molecular/modern methods over conventional methods.
Modern diagnostic methods are designed to overcome limitations of specificity and accuracy. The various advantages of modern assays have augmented their scope of application, such as outpatient monitoring, large screening programs in developing regions, and point-of-care testing (POCT). This is expected to serve as a high impact-rendering driver.
A substantial number of studies have been conducted for comparative analysis of centralized and point-of-care (POC) services, a factor that has positively impacted the growth of both segments. Centralized testing services accounted for a major share in the market due to the local presence of a large number of facilities across the world. Moreover, currently, the number of centralized service centers is significantly higher than that of POC centers.
On the other hand, the POC service segment is expected to grow at a lucrative rate throughout the forecast period. Various advantages of POCT devices, such as portability and easy usage, are expected to bolster its adoption. Furthermore, these services offer quick results, allowing immediate treatment or intervention and consequently, better patient outcomes. Recently, the U.S. FDA granted the “Chagas Detect Plus Rapid Test Kit” a 510K clearance. This POCT for Chagas disease has been developed by InBios International. Such achievements are expected to significantly impact the growth of this segment throughout the forecast period.
NTD diagnostic devices find application in various healthcare settings, such as hospitals, private practices, laboratories, and homecare. Rapid advancements in diagnostic kits and high disease burden will result in rising application of these devices in the coming years.
Clinical laboratories emerged as the dominant end-use segment in the neglected tropical diseases diagnosis market in 2016. This can be attributed to the presence of a substantial number of laboratories across the globe. This segment is also anticipated to expand at a steady CAGR in the coming years owing to rise in the number of skilled personnel in labs.
The home healthcare segment is expected to grow at a lucrative rate over the forecast period. This growth is anticipated to be supported by increased adoption of POCT services. Moreover, a major benefit offered by this segment is improved access to healthcare in remote and rural areas, which in turn, will spur segment growth.
NTDs are endemic to almost 150 countries and have affected people across the globe. The burden of this disease is mostly concentrated in tropical and subtropical countries in Africa, Asia, and Latin America. The market in Latin America is expected to grow at a significant pace. Untapped potential and increasing awareness among the population in Latin America countries regarding ways of tackling NTDs are expected to accelerate the growth of this regional market.
Key Players
F. Hoffmann-La Roche Ltd.; Abbott; Thermo Fisher Scientific, Inc.; ZeptoMetrix; InBios International, Inc.; Genome Diagnostics Pvt. Ltd; Omega Diagnostics Group PLC; Coris Bioconcept SPRL; DiaSys Diagnostic Systems GmbH; and Oscar Medicare Pvt Ltd.
Market Segmentation
Disease Outlook (Revenue, USD Million, 2014 - 2025)
Dengue
Chikungunya
Rabies
Leprosy
Buruli Ulcer
Yaws
Lymphatic Filariasis
Taeniasis/Cysticercosis
Foodborne Trematodiases
Echinococcosis
Chagas Disease (American Trypanosomiasis)
Dracunculiasis
African Trypanosomiasis
Soil-transmitted Helminth Infections
Onchocerciasis
Schistosomiasis
Scabies and Other Ectoparasites
Snakebite Envenoming
Leishmaniasis
Diagnostic Method Outlook
Conventional Method
Molecular/Modern Method
Service Type Outlook
Centralized Service
POC Service
End-use Outlook
Clinical Labs
Hospitals /Clinics
Home Healthcare
Regional Outlook
Asia Pacific
India
China
Indonesia
Malaysia
Latin America
Brazil
Venezuela
Colombia
Middle East & Africa
Nigeria
North America
U.S.
Canada
Europe
Germany
The U.K.
The Neglected Tropical Diseases Diagnosis market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Neglected Tropical Diseases Diagnosis market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Neglected Tropical Diseases Diagnosis market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Neglected Tropical Diseases Diagnosis market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Neglected Tropical Diseases Diagnosis market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Neglected Tropical Diseases Diagnosis capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Neglected Tropical Diseases Diagnosis by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Neglected Tropical Diseases Diagnosis market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Neglected Tropical Diseases Diagnosis market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Neglected Tropical Diseases Diagnosis market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Neglected Tropical Diseases Diagnosis industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Neglected Tropical Diseases Diagnosis market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Neglected Tropical Diseases Diagnosis market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Neglected Tropical Diseases Diagnosis market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Neglected Tropical Diseases Diagnosis market. These factors have benefited the growth of the global market for Neglected Tropical Diseases Diagnosis. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Neglected Tropical Diseases Diagnosis. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Neglected Tropical Diseases Diagnosis are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers