(I-BusinessNews.Com, July 05, 2021 ) Meningitis Diagnostic Testing Market size is estimated to reach $600 million by 2026, growing at a CAGR of 5% over 2021-2026. Meningitis is an inflammation (swelling) of the protective membranes, called meninges that covers the brain and spinal cord. Meningitis diagnostic tests include tests such as latex agglutination tests, imaging, or spinal tap and the cerebrospinal fluid test is also used to detect meningitis. Moreover, meningitis can be caused owing to an ear sinus infection, a skull fracture, or after some surgeries. Increasing prevalence of infectious disease and HIV (Human Immunodeficiency Virus) and rising technological advancements are the major factor driving the growth of this market. Furthermore, rising research and development activities to diagnose the various type of meningitis is set to further enhance the overall market demand for Meningitis Diagnostic Testing Market for the period 2021-2026.
Meningitis Diagnostic Testing Market Segment Analysis- By Test Type
The global Meningitis Diagnostic Testing Market based on Test Type can be further segmented into Latex Agglutination Tests, Lateral Flow Assay, PCR Assay, ELISA Tests, Culture Test, and others. The PCR Assay segment is the major segment generating revenue in 2020. This is owing to the high ability of PCR to diagnose the disease within a short time period and provide accurate results. The Lateral Flow Assay segment is estimated to register the fastest CAGR of 3.5% for the period 2021-2026. This is owing to increasing use of home based test, lesser price and rapid results.
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Meningitis Diagnostic Testing Market Segment Analysis- By End Use
The global Meningitis Diagnostic Stents Market based on End-Use Industry can be further segmented into Hospital, Diagnostic Center, and Others. The Hospital segment registerd for the highest market share in 2020. This is owing to the increasing advanced diagnostic infrastructure and availability of skilled doctors. The Diagnostic Center segment is estimated to register the fastest CAGR of 1.5% over 2021-2026. This is owing to availability of well equipped with sophisticated instruments increases preference towards diagnostic center.
Meningitis Diagnostic Testing Market Segment Analysis- By Geography
North America dominated the Meningitis Diagnostic Testing Market with major share of 45% in 2020. This is owing to increasing adoption of advanced diagnostic devices, increased number of diagnostic centers, and easy availability of diagnostic test kits. According to Joint United Nations Programme on HIV/AIDS (UNAIDS), about 37.9 million people suffering from HIV in 2018 which increasing the growth of Meningitis Diagnostic Testing Market of this region.
However, Asia-Pacific is estimated to outpace all the regions by clocking the highest CAGR of 20% during the forecast period 2021-2026 owing to the increasing incidence of infectious disease, the introduction of new and cost-effective stents by the key players in this region.
Meningitis Diagnostic Testing Market Drivers
Increasing Prevalence of Infectious Disease and HIV
The increasing prevalence of infectious disease and HIV is increasing the growth of the Meningitis Diagnostic Testing Market. According to World Health Organization (WHO), about 38 million people have HIV in 2020 which increases the number of meningitis. Thus, increasing the growth of the Meningitis Diagnostic Testing Market over 2021-2026.
Rising technological advancement and rising healthcare sector is increasing the growth of the Meningitis Diagnostic Testing Market. Moreover, new advanced technologies such PCR and next-generation sequencing are providing a less expensive way for the diagnosis which increases the growth of Meningitis Diagnostic Market over 2021-2026.
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Meningitis Diagnostic Testing Market Challenges
Lack of Skilled Workers and Lack of Awareness Regarding Diagnosis
Some of the factors that is set to impede the growth of the Meningitis Diagnostic Testing Market are the absence of skilled workers and lack of access to newer diagnostic technologies. Moreover, lack of diagnostic laboratory infrastructure is set to create hurdles for the Meningitis Diagnostic Testing Market.
During COVID-19 Pandemic, the advancement in diagnosis and treatment of meningitis is increasing. This is owing to the entire healthcare industry are under pressure to improve the condition of this situation that are increasing the growth of this market. Moreover, there is no research to suggest that people who have suffered from meningitis are more likely to get coronavirus or become seriously ill from COVID-19. However, Medical Professional are getting more indication for the treatment of meningitis by the development of this diagnostic test and are contributing the growth of this market.
Meningitis Diagnostic Testing Market Landscape
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Meningitis Diagnostic Testing Market. Key companies of this market include B. Braun Melsungen AG, Sanofi, Pfizer Inc., Siemens Healthcare Private Limited, GlaxoSmithKline plc, Merck KGaA, Baxter, Abbott, Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Quest Diagnostics Inc., Luminex Corporation, F. Hoffman-La Roche Ltd., Cepheid, and Pfizer Inc.
In May 2019, Matinas Biopharma Holding Inc. recently announced the results from preclinical animal models to evaluate MAT2203 for the treatment of cryptococcal meningitis.
Geographically, in 2020 North America dominated the Meningitis Diagnostic Testing Market owing to increasing adoption of advanced diagnostic devices, and easy availability of diagnostic test kits.
Increasing prevalence of infectious disease and HIV and rising technological advancements are likely to aid in the market growth of the Meningitis Diagnostic Testing Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Meningitis Diagnostic Testing Market report.
Lack of skilled workers and lack of awareness regarding of diagnosis is set to create hurdles for the Meningitis Diagnostic Testing Market.
Related Reports :
A. Infectious Disease Testing/Diagnostic Market
B. Meningococcal Conjugate Vaccine Market
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