Sepsis Diagnostics Market Booming Worldwide With Key Players...| MENAFN.COM

Sunday, 04 December 2022 02:54 GMT

Sepsis Diagnostics Market Booming Worldwide With Key Players | Biomerieux, Danaher Corporation


(MENAFN- Market Press Release) November 24, 2022 3:55 am - The Global Sepsis Diagnostics Market valued at ~$510 million (2021) is set to witness a healthy growth rate of 9% in the next 5 years.

Sepsis is a life-threatening medical emergency. It is body's reaction to an infection may cause tissue damage, a systemic inflammatory response, and ultimately organ dysfunction and/or failure.

According to the WHO, sepsis affects around 49 million people globally each year. Early diagnosis of sepsis is critical for patient outcomes. Sepsis has no specific symptom or indication that is directly associated with the disease, therefore diagnosing it might be difficult.

The Global Sepsis Diagnostics Market valued at ~$510 million (2021) is set to witness a healthy growth rate of 9% in the next 5 years. Increasing cases of sepsis and hospital-acquired infections, the development of quick diagnostic tests and point-of-care techniques, and favorable initiatives and funding for sepsis-related research are some of the major drivers driving the global sepsis diagnostics market.

However, limited awareness about sepsis is likely to hamper the growth of the sepsis diagnostics market.

Development of Rapid Diagnostic Tests/Point-of-Care Techniques Set to Drive the Sepsis Diagnostics Market
Currently, clinicians possess limited technology needed to conduct multiplexed and fully quantitative diagnostic tests at the point of care with high sensitivity. Numerous research universities and product manufacturers are developing innovative rapid diagnostic tests/point-of-care techniques in response to the demand for quick diagnostic tests.

For instance,
Researchers at the University of Strathclyde have developed an innovative, low cost test for early diagnosis of sepsis. The experimental device analyzes patient's blood and provides results in just 2.5 minutes compared to current testing methods for sepsis which takes up to 72 hours.

“With sepsis, timing is the key. Advancements in diagnostic speed, range, and accuracy are critical for addressing the continued rise in sepsis cases and deaths. Advent of new rapid diagnostic tests for sepsis can save thousands of lives.” - Senior Director, Leading In-Vitro Diagnostics Manufacturer, United States

Explore Premium Report on Sepsis Diagnostics Market @ Initiatives & Funding for Sepsis Research
(NIGMS) intends to use the NIH SBIR/STTR program to support preclinical and clinical sepsis studies to create better diagnostic methods and therapies in an attempt to shape the future of sepsis research.

Diagnostics companies are also continuously securing funding to develop rapid sepsis diagnostic tests.

For instance,
In February 2022, CytoVal, a medical diagnostics company secured additional funding from Biomedical Advanced Research and Development Authority (BARDA) to help advance the company's 10-minute IntelliSep™ sepsis risk stratification test towards commercial launch

In June 2021, HelixBind secured $3 million National Institutes of Health (NIH) grant to support testing of its rapid diagnostic platform for invasive infections associated with sepsis

Competitive Landscape Analysis of Sepsis Diagnostics Market
The global sepsis diagnostics market is marked by presence of both established players such as bioMérieux, Becton, Dickinson and Company, Thermo Fisher Scientific, Danaher Corporation and innovative firms such as Seegene Inc., Axis-Shield Diagnostics, Immunexpress, and others.

For More Detailed Insights, Contact Us @ Medi-Tech Insights
Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

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Ruta Halde
Associate, Medi-Tech Insights
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