Tuberculosis is an infectious disease caused by mycobacterium tuberculosis and mainly affects the lungs. Tuberculosis is a communicable disease and can be easily transmitted from one person to another through cough and sneezes. Tuberculosis is categorized into two type’s namely as active tuberculosis and latent tuberculosis. The common site of infection are lymph node, joints and bones, pulmonary, etc. According to the report published by WHO in 2018 tuberculosis is one of the top 10 deadliest disease and causes annual death of 1.6 million people worldwide. The increasing demand for more advanced and better diagnostic procedure of tuberculosis is creating new opportunities for market players especially in the emerging economic countries. According to the WHO report, 54 million lives had been saved through tuberculosis diagnosis and through proper treatment between the years 2000 and 2017.
Mycobacterium Tuberculosis Testing Market: Drivers and restraints
Rising prevalence of tuberculosis across the globe is one of the major factor affecting the mycobacterium tuberculosis testing market. Increasing awareness of people towards infectious diseases like tuberculosis is further aiding in the growth of the mycobacterium tuberculosis testing market.
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Various initiatives taken by local government and NGO’s is expected to boost the growth of the mycobacterium tuberculosis market. Increasing adoption of tuberculosis diagnostic kit for early detection of the tuberculosis is further supporting the growth of the mycobacterium tuberculosis testing market. Furthermore, the increasing research and development activities for developing better testing procedures is expected to surge the mycobacterium tuberculosis testing market. New and advanced technology for accurate detection of tuberculosis is anticipated to drive the growth of the target market. However, high cost of the diagnosis and time consumption are the restraints expected to hamper the growth of the mycobacterium tuberculosis testing market. Also, requirement of specialized equipment for testing procedure may limit the growth of the mycobacterium tuberculosis testing market.
Mycobacterium Tuberculosis Testing Market: Overview
Mycobacterium tuberculosis testing market is expected to have a tremendous growth in the near future. Recent studies have shown that tuberculosis cases is falling at the rate of 2% every year and is estimated to have annual decline of 4-5% over the forecast period. Based on tests type, culture based test type segment is leading the mycobacterium tuberculosis testing market as it gives very accurate diagnosis of the tuberculosis. Among the end-user, the specialty clinic segment is contributing the major market share in terms of revenue.
Mycobacterium Tuberculosis Testing Market: Regional Outlook
North America is anticipated to have a significant market share in terms of revenue in the mycobacterium tuberculosis testing market. This is attributed to the increasing prevalence of tuberculosis cases and intensive research activities in the region. Europe is expected to score second prominent market share in the mycobacterium tuberculosis testing market, owing to the increasing awareness of people towards infectious diseases like tuberculosis. Also, improved healthcare infrastructure and reimbursement in policies are further expected to pool the mycobacterium tuberculosis testing market. Asia Pacific is projected to witness the lucrative growth in the near future. The rising cases of tuberculosis especially in developing countries of the region and increasing awareness of people for early diagnostic and treatment of the tuberculosis is contributing in the growth of the mycobacterium tuberculosis testing market. Also several government initiatives and higher disposable income of the region is further driving the mycobacterium tuberculosis testing market. Latin America is expected to experience a stable growth whereas MEA expected to be the least lucrative market due to lower adoption.
Mycobacterium Tuberculosis Testing Market: Key Players
The major players operating in mycobacterium tuberculosis testing market are Thermo Fisher Scientific, Cepheid Inc. (Danaher Corporation), Medical Innovation Ventures Sdn. Bhd (Mediven), ELITechGroup, DAAN Gene Co., Ltd, AccuQuik, RTA Laboratories, Osang Healthcare CO., Ltd, Hologic, Inc., F. Hoffmann-La Roche AG., Abbott Laboratories, Novacyt Group, and Akonni Biosystems Inc..
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