Drivers
Infectious illness prevalence in both established and emerging nations would boost the APAC infectious disease diagnosis & treatment market growth. The rising number of prescriptions for infectious illness diagnostic tests is due to diagnosing and managing such disorders. Over the forecast period, these factors, together with the increasing tendency toward preventative care, are projected to increase demand for APAC infectious disease diagnosis & treatment market.
Opportunities
Due to multiple major and minor significant players, the infectious illnesses treatment & diagnosis market seems fragmented. These market participants attempt to acquire a competitive edge through strategic initiatives such as partnership, acquisition, expansion, cooperation, and product and technology launches. Significant efforts are being made in R&D to produce unique diagnoses & treatment options.
Restraints
A few factors may inhibit the growth of the APAC infectious disease diagnosis & treatment market share. The development of the infectious illness treatment market is likely to be hampered by stringent government restrictions and a lack of information about treatment choices in developing nations. Inadequate reimbursement is a key stumbling block to the infectious disease diagnostics market's development.
Challenges
There are various concerns with the market that may challenge the key players of the APAC infectious disease diagnosis & treatment market. This includes the cost of the diagnosis and treatment solutions. High treatment and maintenance costs for infectious diseases and a lack of infrastructure in medium and low-income nations may limit the expansion of the market. Most diagnostic companies have a significant challenge in commercializing their tests, convincing their health insurance to pay for them.
Cumulative Growth Analysis
The APAC infectious disease diagnosis & treatment market is anticipated to grow substantially in the years to come. The infectious illness market value was estimated at around USD 179.58 Billion in 2018 and is expected to grow at a CAGR of about 7.84% in the coming years.
Value Chain Analysis
During the APAC infectious disease diagnosis & treatment market forecast, demand for diagnostics is likely to be driven by the expanding trend of preventive medicine. To strengthen Covid-19 preventive and control efforts, large-scale population-based testing is necessary. Infectious illness diagnostics performs these tests. Hence, it is likely to have a favorable influence on APAC infectious disease diagnosis & treatment market.
Developing economies such as India, South Korea, Brazil, and Mexico will likely provide significant infectious illness diagnostics market participants with new growth prospects. The high illness incidence, big patient population, better healthcare infrastructure, increasing disposable money, and growing medical tourism in these nations contribute to this. Aside from the aforementioned characteristics, the Asia Pacific region has grown as a flexible and business-friendly center due to less strict rules and data requirements.
Asia Pacific Infectious Disease Diagnosis & Treatment Market Segmentation
The global APAC infectious disease diagnosis & treatment market is classified into many segments such as disease types, treatment, and end-user. Listed below are the infectious illness treatment & diagnosis market segments:
Disease Type Outlook
- Bacterial diseases
- Viral diseases
- Fungal diseases
- Parasitic diseases
- Others
Treatment Outlook
- Antibiotics
- Antivirals
- Antifungals
- Anti-parasitic
- Others
End-user Outlook
- Hospitals & clinics
- Ambulatory Care Centers
- Others
Regional Analysis
The regional division of the APAC infectious disease diagnosis & treatment market analysis comprises North America, Europe, Asia Pacific, and the rest of the world. The Americas are expected to dominate the infectious disease treatment market due to a rising patient population suffering from different kinds of infectious illnesses and a growing number of government efforts to prevent contagious diseases in the area.
Due to rising awareness and an increasing patient population suffering from severe infectious diseases, Europe is expected to hold the second-largest position in the APAC infectious disease diagnosis & treatment market. According to the WHO, 14 million people in Europe are infected with hepatitis C as of 2018. Due to the huge patient population suffering from bacterial infectious illnesses and the increasing number of activities conducted by governments and private organizations to raise awareness about infectious diseases, Asia-Pacific is predicted to be the fastest-growing regional market.
According to a May 2018 study released by the National Center for Biotechnology Information (NCBI), meningitis and pneumonia account for roughly 22% of mortality among children under five in India. Because of the expanding patient population suffering from various infectious illnesses, the APAC infectious disease diagnosis & treatment market in the Middle East and Africa is predicted to rise slowly.
Competitive Landscape
The infectious disease diagnosis & treatment industry is dominated by a few companies that play a vital role in the market growth. These infectious illnesses diagnosis and treatment provider companies are called key companies of the market. They contribute to the largest share of the APAC infectious disease diagnosis & treatment market profit.
The companies account for the market profits by adopting various APAC infectious disease diagnosis & treatment market trends such as joint ventures, product launches, company expansions, and procurements. They provide innovative solutions for patients suffering from infectious illnesses.
Key Players
Below are the key companies that offer infectious illness diagnosis and treatment solutions in the global APAC infectious disease diagnosis & treatment market, along with the location of their headquarters:
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Pfizer Inc. (US)
- Bristol-Myers Squibb Company (US)
- Janssen Global Services LLC (US)
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Eli Lilly and Company (US)
- Ortho Clinical Diagnostics (US)
- Merck & Co. Inc. (US)
- AbbVie Inc. (US)
- Hoffmann-La Roche Ltd (Switzerland)
- Novartis AG (Switzerland)
- Aurobindo Pharma (India)
- Bayer AG (Germany)
- Reddy's Laboratories (India)
- Sanofi (France)
- Cipla Inc. (India)
- Seegene Inc. (South Korea)
- ABACUS Diagnostica Oy (Finland)
- GlaxoSmithKline PLC (UK)
- Alkem Labs (India)
- Astellas Pharma Inc. (Japan)
Recent Development November 2023: Abbott Laboratories announces the launch of its new Panbio™ COVID-19 Ag Rapid Test Nasal, a rapid antigen test for COVID-19 that can be performed in just 15 minutes using a nasal swab. The test is designed for professional use and is intended to be used as an aid in the diagnosis of COVID-19 infection.Becton, Dickinson and Company (BD) announces the launch of its new BD MAX™ System for the detection of Omicron subvariants.
The BD MAX™ System is a molecular diagnostic platform that can be used to detect a wide range of infectious pathogens, including viruses, bacteria, and fungi.Roche Diagnostics announces the launch of its new cobas® Liat® System MRSA Test, a rapid molecular diagnostic test for the detection of methicillin-resistant Staphylococcus aureus (MRSA). The cobas® Liat® System MRSA Test is designed to be used in point-of-care settings and can provide results in less than 60 minutes.
October 2023: Thermo Fisher Scientific announces the launch of its new Applied Biosystems™ TaqMan™ SARS-CoV-2 Mutation Assays, which are designed to detect and differentiate between the most common SARS-CoV-2 variants of concern. The Applied Biosystems™ TaqMan™ SARS-CoV-2 Mutation Assays can be used on a variety of Thermo Fisher Scientific real-time PCR instruments.Qiagen announces the launch of its new QIAprep® Viral RNA Mini Kit Plus, a high-performance kit for the extraction of viral RNA from a variety of sample types, including nasopharyngeal swabs, saliva, and wastewater.
The QIAprep® Viral RNA Mini Kit Plus is designed to be used with a variety of molecular diagnostic platforms, including the Qiagen QIAcuity™ and QIAcube™ instruments.
