With 9.7% CAGR, Sepsis Diagnostics Market Size to Reach USD 1,603.3 Million by 2030
According to Fortune Business Insights, Sepsis Diagnostics Market size is anticipated to reach USD 1,603.3 Million by 2030, the market size was USD 770.4 Million in 2022 and is anticipated to rise at a CAGR of 9.7%.
Pune, India, April 17, 2023 (GLOBE NEWSWIRE) — The global sepsis diagnostics market size was valued at USD 770.4 million in 2022. The market is projected to grow from USD 840.5 million in 2023 to USD 1,603.3 million by 2030, exhibiting a CAGR of 9.7% during the forecast period. When the body reacts to an infection by damaging its own tissues, it is said to be experiencing sepsis. Infections caused by bacteria is one of the most frequent causes. This condition can also be brought on by other infections, including viral and fungal infections. Sepsis, severe sepsis, and septic shock are the three stages of the illness. For instance, the World Health Organization (WHO) projected that in 2020, this illness would afflict 49.0 million people and result in 11.0 million fatalities worldwide. Important product launches and technical developments are anticipated to benefit the global sepsis diagnostics market growth in the near future. Fortune Business Insights presents this information in its report titled “Global Sepsis Diagnostics Market, 2023–2030.”
Key Industry Development:
May 2020: Danaher’s company, Beckman Coulter, Inc., launched the DxH 690T hematology analyzer mid volume analyzer for early diagnosis of sepsis in the U.S.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 9.7% |
| 2030 Value Projection | USD 1,603.3 Million |
| Base Year | 2022 |
| Sepsis Diagnostics Market Size in 2022 | USD 770.4 Million |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 185 |
Key Takeaways
- The growing prevalence of these diagnostic procedures among hospitalized patients has boosted demand for them.
- The scenario has increased focus on developing rapid diagnostic techniques, expected to drive market growth.
- The reagents and consumables segment dominated the worldwide sepsis diagnostics market share.
- North America market was expected to be worth USD 392.8 million in 2022. Anticipated to dominate the global market.
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Drivers and Restraints:
Increasing Awareness in Developing Countries to Promote Diagnostic Procedures
A large number of government and non-government organizations are attempting to raise public awareness of this disease. The Global Sepsis Alliance, one of the most well-known groups, has teamed up with several organizations from Latin America and Africa to spread awareness of this disorder. Additionally, the Global Maternal Sepsis Research and Campaign was launched by the World Health Organization (WHO) in collaboration with 52 nations (GLOSS). It seeks to evaluate the impact and treatment of maternal sepsis and increase awareness of this problem among healthcare professionals. As a result, it is projected that a rise in the number of foundations and government organizations’ attempts to raise awareness and support the market will accelerate this expansion.
However, since there is currently no single diagnostic test for this disorder, medical practitioners combine tests with urgent and concerning clinical indications. Throughout the projected period, the burden and expense of the condition will limit the global sepsis diagnostics market growth.
Segments:
New Product Launches by Major Players to Increase the Reagents & Consumables Segment Growth
Based on product type, the market is segmented into instruments and reagents & consumables.
In 2022, the reagents & consumables segment dominated the global market for sepsis diagnostics. Also, the segment’s growth prospects are influenced by the fact that reagents and consumables are heavily used in diagnostic procedures.
Microbiology Technology’s Dominance Benefits from Robust Application
Based on technology, the market is segmented into microbiology, molecular diagnostics, immunoassays, and others.
In terms of market share over the anticipated period, the microbiology segment was dominant. The majority of hospitals use microbiological diagnostics, including blood cultures. The main reason contributing to the segment’s rise is the type of microbiological testing’s robust adoption due to its affordability. The molecular diagnostics segment is anticipated to hold the third-largest market share. The greater sensitivity, greater specificity, and shorter turnaround times of molecular diagnostic solutions are anticipated to drive the segment’s expansion throughout the forecast period.
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Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Regional Insights:
North America Dominates the Market Due to Fast Adoption of Contemporary Diagnostics
In 2022, the North America market was expected to be worth USD 392.8 million. Over the forecast period, the region is anticipated to dominate the global market. Due to the high frequency of this ailment, rapid uptake of modern sepsis diagnostics, and attractive reimbursement rules, the region dominates the market.
Competitive Landscape:
Businesses made Significant Sales to Get Competitive Edge
Luminex Corporation, Bruker, T2 Biosystems, Inc., and others are emerging market participants. In addition to focusing on regional development through territory-exclusive distribution agreements, these players have produced significant sales. The market positions of the aforementioned businesses are predicted to improve as a result. For instance, T2 Biosystems, Inc. signed territory-exclusive sales contracts in Norway, Finland, and Turkey in February 2022. T2 Biosystems sold T2Dx Instruments, T2Bacteria, T2Candida, and T2Resistance Panels via these wholesalers in accordance with the contract. Also, it completed a territory-exclusive distribution arrangement in Taiwan, Singapore, and South Korea in November and October 2021. During the projection period, these strategic initiatives are anticipated to increase these players’ market shares.
List of Key Players Mentioned in the Report:
- T2 Biosystems, Inc. (U.S.)
- Danaher (U.S.)
- Abbott (U.S.)
- bioMérieux SA (France)
- Thermo Fisher Scientific Inc. (U.S.)
- Luminex Corporation (DiaSorin S.p.A.) (U.S.)
- BD (Becton, Dickinson, and Company) (U.S.)
- Bruker (U.S.)
- Siemens Healthcare GmbH (Germany)
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Major Table of Contents:
- Global Sepsis Diagnostics Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Product Type
- Instruments
- Reagents & Consumables
- Market Analysis, Insights and Forecast – By Technology
- Microbiology
- Molecular Diagnostics
- Immunoassays
- Others
- Market Analysis, Insights and Forecast – By Method
- Conventional
- Automated
- Market Analysis, Insights and Forecast – By Test Type
- Laboratory Tests
- Point-of-Care Tests
- Market Analysis, Insights and Forecast – By Pathogen
- Bacterial Sepsis Diagnostics
- Fungal Sepsis Diagnostics
- Other Pathogens
- Market Analysis, Insights and Forecast – By End User
- Hospitals & Clinics
- Diagnostic Centres
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- Market Analysis, Insights and Forecast – By Product Type
- North America Sepsis Diagnostics Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Product Type
- Instruments
- Reagents & Consumables
- Market Analysis, Insights and Forecast – By Technology
- Microbiology
- Molecular Diagnostics
- Immunoassays
- Others
- Market Analysis, Insights and Forecast – By Method
- Conventional
- Automated
- Market Analysis, Insights and Forecast – By Test Type
- Laboratory Tests
- Point-of-Care Tests
- Market Analysis, Insights and Forecast – By Pathogen
- Bacterial Sepsis Diagnostics
- Fungal Sepsis Diagnostics
- Other Pathogens
- Market Analysis, Insights and Forecast – By End User
- Hospitals & Clinics
- Diagnostic Centres
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- By Product Type
- Canada
- By Product Type
- U.S.
- Market Analysis, Insights and Forecast – By Product Type
TOC Continued…!
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