Neglected Tropical Diseases (NTD) Diagnosis Market Analysis, Top Key Players, and Industry Statistics, 2020-2028
Growing adoption of Point-of-care testing services and introduction of home healthcare facilities are key factors fueling global market growth
Market size: USD 6.01 Billion 2020, Market Growth: CAGR of 4.3%, Market Trends: Advancements in diagnostic technology
The global Neglected Tropical Diseases (NTD) Diagnosis Market size is expected to reach USD 8.63 billion by 2028 and register a CAGR of 4.3%, according to the latest report by Reports and Data. Rising prevalence of various neglected tropical diseases around the globe and several government initiatives to raise awareness about these diseases are driving global market revenue growth.
Neglected tropical diseases (NTD) are caused by bacteria, viruses, and parasites in low-income populations owing to poor health and hygiene, lack of proper sanitation, and clean water. Chikungunya, lymphatic Filariasis, taeniasis/cysticercosis, and dengue are common neglected tropical diseases. One of the primary factors fueling global market growth is increasing awareness about significance of early detection of NTD and growing efforts for improving healthcare facilitates across the globe. In addition, increasing investments for research and development of diagnostic tools and rising government programs to tackle neglected tropical diseases are further boosting global market.
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However, factors, such as high-priced diagnostic tools, unavailability of skilled professionals to operate advanced diagnostic systems, and imposition of unfavorable regulations, are expected to hamper growth of the global neglected tropical diseases diagnosis market over the forecast period.
Some key highlights in the report:
- Based on the disease type, the lymphatic filariasis segment is expected to register fastest revenue CAGR over the forecast period owing to rising prevalence of lymphatic system disorders worldwide and growing adoption of rapid antigen tests.
- Among the diagnostic methods, the conventional methods segment is expected to account for significant revenue growth owing to high availability and usage of conventional methods such as serology tests, pathology culturing, and gram staining. Though the modern methods are more reliable.
- The clinical laboratories segment accounted for largest revenue share in 2020 and is expected to continue its dominance over other end-use segments in the global neglected tropical diseases diagnosis market over the forecast timeline. High revenue share is attributable to increasing number of clinical laboratories, rising prevalence of neglected tropical diseases, and availability of advanced diagnostic kits across several countries.
- North America is expected to account for significant revenue share over the forecast period. Factors, such as rising prevalence of neglected tropical diseases, availability of rapid diagnostic services, and growing adoption of POC testing at home healthcare are key factors fueling market growth.
- The market in the Middle East and Africa is expected to account for high revenue growth throughout the forecast period owing to growing recurrence of NTDs and increasing adoption of modern diagnostic services.
- Key players operating in the global neglected tropical diseases diagnosis market include Thermo Fisher Scientific Inc, ZeptoMetrix Inc, InBios International Inc, Abbott, Genome Diagnostics Pvt. Ltd, Coris Bioconcept SPRL, Omega Diagnostics Group PLC, DiaSys Diagnostic Systems GmbH, and Oscar Medicare Pvt. Ltd.
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For this study, Reports and Data has segmented the global neglected tropical diseases diagnosis virus testing market based on disease diagnostic method, service type, end-use, and region:
Disease Outlook (Revenue, USD Million, 2018 - 2028)
- Buruli Ulcer
- Lymphatic Filariasis
- Foodborne Trematodiases
- Chagas Disease (American Trypanosomiasis)
- African Trypanosomiasis
- Soil-transmitted Helminth Infections
- Scabies and Other Ectoparasites
- Snakebite Envenoming
Diagnostic Method Outlook (Revenue, USD Million, 2018 - 2028)
- Conventional Method
- Molecular/Modern Method
Service Type Outlook (Revenue, USD Million, 2018 - 2028)
- Centralized Service
- POC (Point-of-care) Service
End-use Outlook (Revenue, USD Million, 2018 - 2028)
- Clinical Laboratories
- Hospitals and Clinics
- Home Healthcare
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Regional Outlook (Revenue, USD Billion, 2018 - 2028)
- North America
- Rest Of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Key Features of the Neglected Tropical Diseases Diagnosis Report:
- The report encompasses Neglected Tropical Diseases Diagnosis market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
- Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
- The report covers an extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Neglected Tropical Diseases Diagnosis industry
- SWOT analysis and Porter’s Five Forces analysis along with feasibility analysis and investment return analysis
- Sophisticated analysis of the market statistics and is represented in graphs, tables, facts, figures, diagrams, and charts to provide a better understanding
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