Tuberculosis Testing Market Expected To Reach Usd 2.62 Billion Globally In 2020

1111 words - 5 pages

Tuberculosis Testing Market Expected to Reach USD 2.62 Billion Globally in 2020

Summary: Tuberculosis Testing Market (Smear Microscopy, Culture Based Tests, Nucleic Acid Testing, Mantoux Test, Radiography (Chest X-Ray), Drug Susceptibility Testing (DST) and Other TB Tests): Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020

According to a new market report published by Transparency Market Research “Tuberculosis Testing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” the global tuberculosis testing market was valued at USD 1,936.1 million in 2013 and is expected to grow at a CAGR of 4.3% from 2014 to 2020, to ...view middle of the document...

Improved and technologically advanced TB testing techniques such as IGRA, rapid TB tests, serological tests, etc. have made diagnosis more accurate, reliable, quick and easy to use.

Some of the major commercially available TB tests include culture tests, nucleic acid tests, tuberculin skin tests, sputum smear microscopy, chest X-ray and drug susceptibility testing. Culture-based TB tests were the largest segment in terms of revenue of the global TB testing market, valued at USD 691.2 million in 2013. Factors such as high sensitivity, accuracy and reliability of culture-based TB tests over other TB tests such as smear microscopy, Mantoux test and chest radiography have been attributed to the higher market share of the segment.

According to the WHO estimates, over nine million people suffered from tuberculosis in 2013 worldwide. The total number of TB cases increased by approximately 4.7% from 8.6 million cases in 2012 to 9 million in 2013 globally. The high prevalence and incidence of TB, availability of various new and improved tests, growing awareness levels, developing healthcare infrastructure and improving purchasing power of the general population are the major factors responsible for the growth of tuberculosis testing market. In addition, increased involvement of some of the world’s leading organizations such as the WHO and FIND (Foundation for Innovative New Diagnostics) for the development of new TB diagnostic tests is also responsible for the growth of the TB testing market. For instance, the WHO, through its Stop TB initiative, has provided the world with a vision to eradicate TB by 2050. On the other hand, factors such as lack of specificity, high cost associated with testing procedure and requirement of specialized equipment might hinder the growth of tuberculosis testing market. Besides these facts, the TB diagnostics market is observed to be a promising prospect in the near future as many new product developers and manufacturers are expected to venture into the market with a robust pipeline of testing technologies.

Geographically, the global market for tuberculosis testing has been segmented into four major markets, namely, North America, Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific accounted for a majority share, i.e. over 35% of the overall tuberculosis testing market in 2013. The major share of Asia Pacific is attributed to the presence of vast patient pool and very high incidence rate of TB. North America is the second largest market for tuberculosis testing in terms of revenue followed by Europe. Major Western European...

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