Tuberculosis (TB) Diagnostics Market Set to Reach USD 3.80 Billion by 2032 Driven by Rising Incidence Rates

AUSTIN, TX, UNITED STATES, October 25, 2024 /EINPresswire.com/ -- The Tuberculosis (TB) Diagnostics Market was valued at USD 2.39 billion in 2023 and is expected to reach USD 3.80 billion by 2032, reflecting a compound annual growth rate (CAGR) of 5.3% during the forecast period from 2024 to 2032.

The increasing prevalence of TB, combined with technological innovations in diagnostic methods, is significantly propelling market growth. As public health initiatives focus on eradicating TB, the demand for effective and rapid diagnostic tools is on the rise, thereby enhancing screening capabilities and improving treatment outcomes.

Overview of the Market

The TB Diagnostics Market is characterized by a growing demand for timely and accurate diagnostic methods to detect tuberculosis, particularly in high-burden regions. According to the World Health Organization (WHO), TB remains a leading cause of mortality worldwide, necessitating robust diagnostic strategies. The market is supported by advancements in technologies such as rapid molecular diagnostics, which provide quicker results compared to traditional culture-based methods. The supply side includes various healthcare institutions, laboratories, and manufacturers that are expanding their product offerings to meet the increasing demand.

The rising incidence of multidrug-resistant (MDR) TB has further emphasized the need for accurate and timely diagnostics. Governments and health organizations are investing heavily in TB control programs, leading to heightened awareness and an increase in screening and diagnostic services. This is particularly important in low- and middle-income countries, where the burden of TB is highest. Overall, the market is poised for steady growth, driven by the need for early diagnosis and treatment of TB.

Get a Free Sample Report of Tuberculosis (TB) Diagnostics Market @ https://www.snsinsider.com/sample-request/2983

Regional Analysis

North America:

In 2023, North America was the dominant region, holding approximately 35.0% of the market share. The region benefits from advanced healthcare infrastructure, significant investment in TB research, and stringent regulations on disease control. The United States is leading the market due to initiatives aimed at eradicating TB, including funding for diagnostic technologies and increasing awareness about TB screening. Companies like Cepheid and Thermo Fisher Scientific are actively involved in providing innovative diagnostic solutions, further enhancing the region's market position. The integration of advanced technologies into healthcare systems has allowed for rapid response to TB outbreaks, thereby improving public health outcomes.

Asia Pacific:

The Asia Pacific region is the fastest-growing market for TB diagnostics, expected to grow at a CAGR of 6.0% over the forecast period. The high burden of TB in countries like India and China, combined with increasing government initiatives to combat the disease, is propelling market growth. Rapid molecular diagnostics and innovative screening programs are being widely implemented in healthcare settings across the region. The increase in funding for TB control initiatives and the growing awareness of the importance of early diagnosis are contributing factors to this growth. Companies such as Becton Dickinson and Hologic are focusing on enhancing their product portfolios and expanding their presence in this high-potential market. Furthermore, collaborations between governments and NGOs are facilitating the development and distribution of new diagnostic technologies.

Major Key Players Included are:

- Akonni Biosystems Inc.
- Alere Inc.
- Par Pharmaceutical
- Lionex GmbH
- Creative Diagnostics
- Abbott Laboratories
- BioMerieux SA
- Cepheid
- Hologic Inc.
- F. Hoffmann-La Roche Ltd

Inquire for More Details @ https://www.snsinsider.com/enquiry/2983

Segment Analysis

By Type:
- Culture-Based Diagnostics
- Sputum Smear Microscopy
- Rapid Molecular Diagnostics

The Rapid Molecular Diagnostics segment dominated the TB Diagnostics Market, holding approximately 50% of the total market share in 2023. Rapid molecular tests, such as GeneXpert, are preferred due to their speed and accuracy in detecting TB and drug-resistant strains. The growing emphasis on prompt diagnosis and treatment is fueling this segment's growth. Culture-based diagnostics is the fastest growing segment with about 35% market share, this traditional method remains significant but is gradually being overshadowed by faster alternatives. While it is considered the gold standard, its longer turnaround time is a disadvantage in urgent care scenarios.

By End User:
- Hospitals
- Diagnostics
- Laboratories

Hospitals held the largest share at 55%, hospitals are the primary end-users of TB diagnostic tools, facilitating comprehensive patient care. The increasing patient footfall and advanced healthcare facilities contribute to this dominance. The Diagnostics Laboratories segment represents about 30% of the market. The growth of private and public laboratories enhances access to TB diagnostics, catering to the rising demand for TB testing services.

Recent Developments

- In March 2024, Cepheid announced advancements in its GeneXpert Omni system, which allows for rapid TB diagnosis at the point of care. This battery-operated device aims to improve accessibility in resource-limited settings, making TB testing more efficient and cost-effective.​
- In March 2024, Cepheid revealed that it is conducting large-scale multicenter clinical trials for the Xpert MTB/XDR assay. This new test aims to detect mutations associated with resistance to multiple drugs, including isoniazid and fluoroquinolones, within 90 minutes. Preliminary results have indicated a sensitivity of 94% and a specificity of 100% compared to traditional methods​.
- In March 2024, the World Health Organization (WHO) released an investment case emphasizing the need for scaling up TB screening and preventive treatment. The report highlighted that for every dollar invested, there could be a return of up to USD 39, advocating for increased resources to enhance TB diagnostics and treatment globally.

Conclusion

The Tuberculosis Diagnostics Market is poised for significant growth driven by technological advancements, increasing TB incidence rates, and rising awareness of the need for effective diagnostic solutions. With the continuing development of rapid and accurate diagnostic tools, along with a focus on enhancing access to testing, the market is well-positioned to contribute to global TB control efforts.

Buy Single User PDF of Tuberculosis (TB) Diagnostics Market Report @ https://www.snsinsider.com/checkout/2983

Table of Contents – Major Key Points

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of the Ukraine- Russia war
4.3 Impact of ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Tuberculosis (TB) Diagnostics Market Segmentation, By Type
8.1 Culture-Based Diagnostics
8.2 Sputum Smear Microscopy
8.3 Rapid Molecular Diagnostics

9. Tuberculosis (TB) Diagnostics Market Segmentation, By End User
9.1 Hospitals
9.2 Diagnostics
9.3 Laboratories

10.Regional Analysis

11. Company profile

12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments

13. Used Cases and Best Practices

14. Conclusion

About Us:

SNS Insider is a global leader in market research and consulting, shaping the future of the industry. Our mission is to empower clients with the insights they need to thrive in dynamic environments. Utilizing advanced methodologies such as surveys, video interviews, and focus groups, we provide up-to-date, accurate market intelligence and consumer insights, ensuring you make confident, informed decisions.

Akash Anand
SNS Insider | Strategy and Stats
+1 415-230-0044
email us here
Visit us on social media:
Facebook
X
LinkedIn
Instagram
YouTube

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.