Global Sepsis Diagnostics Market Witnessing Vigorous Growth: Projected to Grow at a CAGR of 10.5% in the Forecast Period
Published | 12 July 2021
A recent study conducted by the strategic consulting and
market research firm, BlueWeave Consulting, revealed that the global
sepsis diagnostics market was worth USD 540.1 million in the year 2020.
According to the data gathered by the study, the market is estimated to grow at
a CAGR of 10.5%, earning revenue of around USD 1.1 billion by the end of 2027.
The primary factors driving the growth of the global sepsis diagnostics market
are the increasing prevalence of sepsis and infectious diseases globally, along
with the rising awareness surrounding sepsis, as all as advancements in
diagnostic and treatments methods. However, one factor that impedes the market
growth is the high cost of the tools or technology used in the diagnosis of
sepsis.
Increasing Incidences of Sepsis Cases
Favoring Market Growth
The prevalence of sepsis is increasing at an alarming rate
across the globe. Although it is a non-communicable disease, the triggers are
only found within one's body, making it more lethal. Sepsis occurs when the
immune system of the body tries to fight an infection but triggers chemical
releases which affect the other parts or organs in the human body. Therefore,
it calls for urgent medical attention. Also, it has been witnessed that with
the rising number of Covid-19 cases, the incidences of sepsis have also surged.
As a result, the demand for the sepsis diagnostic is growing by leaps and
bounds, thereby proliferating the market growth.
Development of Sepsis Diagnostic and Treatment
Procedures
The diagnosis and treatment processes for sepsis have also
evolved as the medical sector has advanced. Researchers are continually working
on creating innovative methods and technologies that can
accurately identify sepsis in a short period of time and differentiate it
from other infections so that the patient can receive proper treatment. Furthermore,
as hospital capital investments increase due to favorable government
initiatives and private funding, healthcare facilities are progressively
adopting advanced technologies to facilitate the treatment of this
life-threatening disease, which in turn is driving the sepsis diagnostic
market worldwide.
Blood Culture Media Estimated to Witness a Healthy CAGR in the Forecast Period
The global sepsis diagnostics market is divided
into four categories based on products-- instruments, assays, and reagents,
blood culture media, other products. Among these, the blood culture media
segment dominates the global sepsis diagnosis market with the highest demand.
This is because blood culture media is considered the most accurate testing
method for sepsis diagnosis. Therefore, hospitals and clinics often opt for this
specific method, which contributes to this segment’s growth. Not only it offers
high accuracy, but it is also a cost-effective way of screening, due to which
it enjoys a higher preference.
Global Sepsis Diagnostics Market -
Regional Insights
Geographically, the global sepsis diagnostics market is
segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East
& Africa. Among these regions, North America
held the largest market share in the year 2020 and is estimated to maintain its
dominance in the forecast period as well. However, other regions like Europe
and Asia-Pacific are also registering significant growth rates. Their growth of
these regions can be attributed to factors such as increasing healthcare
expenditure by the government as well as the general public, along with the
rising adoption of advanced diagnostic products.
Impact of Covid-19 on the Global Sepsis Diagnostics Market
The Covid-19 outbreak has created
numerous prospects for the global sepsis diagnostics market to grow. As
the body tries to fight the virus on its own, the risk of sepsis in Covid-19
patients is extremely high. As a result, the chances of chemicals flowing
through the bloodstream increase, due to which the need for sepsis diagnostics
becomes crucial. Furthermore, while
hospital visits decreased significantly during the lockdown, the risk of
catching hospital-acquired diseases emerged as a major issue for patients who
had no choice but to visit the healthcare facilities. Despite the pandemic, these
factors have been fueling the growth of the global sepsis diagnostics market
across the globe.
Global Sepsis Diagnostics Market is Dominated by Giants
The major players in the global sepsis diagnostics market
are Immunexpress Inc., Response Biomedical
Corp., Axis-Shield Diagnostics Ltd., Beckman Coulter, Inc, Nanosphere, Inc.,
Sysmex Corporation, T2 Biosystems, Inc., F. Hoffmann-LA Roche Ltd, BioMerieux
SA, Bruker Corporation, EKF Diagnostics, Thermo Fisher Scientific, T2
Biosystems, Inc., Cytosorbents, Genmark Diagnostics, and other prominent
players. The presence of giant industry players
makes the market highly dense and concentrated. The adoption of both organic
and inorganic competitive strategies by companies to exploit market
opportunities is very common in this market.
Don’t miss the business opportunity
of the global sepsis diagnostics market. Consult our analysts to gain crucial
insights and facilitate your business growth.
The in-depth analysis of the report
provides information about growth potential, upcoming trends, and statistics of
the global sepsis diagnostics market. It also highlights the factors driving
forecasts of total market size. The report promises to provide recent
technology trends of the global sepsis diagnostics market and industry insights
to help decision-makers make sound strategic decisions. Furthermore, the report
also analyses the growth drivers, challenges, and competitive dynamics of the
market.
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