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The Business Research Company's Enteric disease Testing market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
The Business Research Company's Enteric Disease Testing Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
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What Has Been The Growth Of The Enteric Disease Testing Market Size Recently?
The enteric disease testing market size has seen a robust growth in recent years. The market value is set to rise from $4.33 billion in 2023 to an impressive $4.59 billion in 2024, marking a compound annual growth rate CAGR of 5.8%. This growth in the historic period is a result of increasing concerns about water and food safety, augmented outbreaks and epidemics, globalization of food supply, travel-related infections, and stringent regulatory standards.
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What Does The Future Of The Enteric Disease Testing Market Hold?
The future of the enteric disease testing market looks promising as it is projected to grow to $5.81 billion by 2028 at a compound annual growth rate CAGR of 6.1%. The anticipated growth during the forecast period can be mainly attributed to the integration of telemedicine and remote monitoring, the effects of climate change, cross-sector collaboration, antimicrobial resistance, and the emergence of new enteric pathogens. Additionally, the enteric disease testing market will also be shaped by major trends such as molecular diagnostics, digital health integration, artificial intelligence and machine learning, the adoption of syndromic testing, and point-of-care testing.
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What Factors Play A Key Role In Driving The Enteric Disease Testing Market's Growth?
Driving the growth of the enteric disease testing market are the increasing cases of diarrhea and hemolytic urea syndrome HUS. Diarrhea disease cases primarily result from consumption of contaminated food and water, while hemolytic urea syndrome HUS, leading to problems with the blood and blood vessels, is most common in children with diarrhea. These conditions are among the leading causes of death in children under five, hence the escalating cases of diarrhea and HUS necessitate testing solutions, thereby increasing the demand for enteric disease testing solutions. For instance, according to the Centers for Disease Control and Prevention, diarrhea is the second highest cause of mortality among children under age 5, accounting for 801 thousand deaths worldwide or one out of every nine child deaths annually. Thus, the growing incidences of enteric diseases will further drive the growth of the enteric disease testing market.
Who Are Some Major Players In The Enteric Disease Testing Market?
Major companies operating in the enteric disease testing market include Becton Dickinson and Company, Biomerica Inc., bioMérieux SA, Bio-Rad Laboratories Inc., Cepheid Inc., Coris Bioconcept, DiaSorin Molecular LLC, Meridian Life Science Inc., Quest Consumer Inc., Trinity Biotech plc., Abbott Laboratories, GlaxoSmithKline Plc., Sanofi India Limited., Bayer HealthCare Pharmaceuticals LLC, Fisher Scientific Inc., Bio Rad Laboratories Pvt Ltd., Alere Inc., 3M Company., ALS Limited, Asure Quality, Bureau Veritas, Meridian Bioscience Inc., Hologic Inc., Luminex Corporation, Nanosphere Inc., Quidel Corporation, Roche Diagnostics, Siemens Healthcare Diagnostics Inc., Vela Diagnostics, GenMark Diagnostics, Illumina Inc., BioFire Diagnostics LLC, and Veredus Laboratories Pte Ltd.
What Are The Emerging Trends In The Enteric Disease Testing Market?
A key emerging trend in the enteric disease testing market is the opening of new laboratories by companies to provide food-testing services. Major operating companies in the enteric disease testing market are focusing on opening new laboratories to cater to food testing services. For instance, SGS Group, a Switzerland-based company that provides verification, testing, inspection, and certification services, announced in June 2021 the opening of its NATA ISO17025 Accredited Laboratory which offers internationally recognized quality testing to the food manufacturing, retail, and hospitality segments.
The enteric disease testing market report covers segments based on:
1 Disease Type: Bacterial Enteric Disease, Parasitic Enteric Disease, Viral Enteric Disease, Other Disease Types
2 Technology: Traditional, Rapid, Convenience-Based, Polymerase Chain Reaction PCR, Immunoassay, Chromatography And Spectrometry, Other Technologies
3 Application: Hospitals, Research Centers, Clinics, Other Applications
In terms of regional distribution, North America was the largest region in the enteric disease testing market in 2023, and Europe is expected to be the fastest-growing region in the forecast period. The enteric disease testing market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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