Mycoplasma Diagnostics Market to gain US$1.35 billion in 2024, Says TMR
Albany, NY, May 22, 2018 (GLOBE NEWSWIRE) — The global mycoplasma diagnostics market is projected to rise at a strong CAGR of 10.6% in between the forecast period of 2016 and 2024. Rising at this pace, the global market will rise from a worth of US$602.0 million in 2016 to reach a worth US$1.35 billion by 2024 end.
The key technologies used in the diagnosis of mycoplasma infections are polymerase chain reaction (PCR), immunoassay, microbial culture techniques, and DNA staining. Of all the key segments, PCR method dominated the market in 2016 and its demand is projected to rise substantially through 2024. The popularity is attributed to increasing incidence of hospital-acquired and healthcare-associated infections world over.
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Regionally, North America led the global market with its dominant share in 2016. The extensive uptake of diagnostics for mycoplasma pneumoniae infections is attributed to the large number of laboratories present across the region and the heightened awareness among patient populations.
High Morbidity and Mortality of Respiratory Tract Infections bolster Demand for Mycoplasma Infections Diagnostics
The global market for mycoplasma infections diagnostics is driven primarily by the growing prevalence of respiratory tract infections that can lead to incidence of lung cancer, tuberculosis, and obstructive pulmonary diseases. In addition, the concomitant rise in the associated mortality in worldwide populations is bolstering the demand for mycoplasma diagnostics. The rising demand for laboratory investigation for the diagnosis of mycoplasma pneumoniae pathogens is propelling the growth of the market.
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The rapid rise in geriatric population, especially in developing and developed nations, who are increasingly prone to respiratory tract infections is a crucial factor catalyzing the growth of the market. The rising awareness of the multiple etiologies that mycoplasma infections harbors among worldwide communities has accentuated the need for direct pathogen detection. Furthermore, the rising healthcare infrastructure spending by public and private players in developed regions is likely to help in the rapid expansion of the global market.
Lack of Reliability of Laboratory Tests and High Cost hindering Widespread Uptake
Despite the rapidly rising demand for mycoplasma diagnostics, few factors are hindering the uptake. The high cost of the devices and consumables used in the testing kits for the infections is one of them. The lack of reliability of these tests in correcting determining microbiological etiology for mycoplasma pneumoniae also acts as a bottleneck in the growth of the market. Furthermore, the market is suffering notable setbacks in advanced nations of North America and Europe owing to stringent regulator norms for the approval of diagnostics or laboratory testing methods.
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Nevertheless, the market is likely to witness exciting avenues arising out of substantial advancements in PCR-related methods and molecular biology technologies in recent years. Advancement in diagnostic techniques in recent years has consistently upped their effectiveness, which has helped healthcare providers and caregivers in ascertaining the severity of the diseases before it turns into an epidemics.
The global market for mycoplasma infections diagnostics market is consolidated to a large extent with the leading five vendors jointly accounting for 68.0 % of the global market in 2016, notes Transparency Market Research (TMR). The leading companies are Lonza Group, Agilent Technologies, Merck KGaA, F. Hoffmann-La Roche, and Thermo Fisher Scientific, Inc. The global landscape is also markedly competitive and top vendors are focusing on entering into mergers and acquisitions and making geographic expansion, in order to consolidate their positions.
However, the growing number of mergers, acquisitions, and collaborations in the global market will bring down the degree of competition to some extent, as the shares will be spread across few prominent shares in the years to come. TMR observes that a number of players are engaged in accelerating the development of technologically-advanced diagnostic kits with enhanced efficacy.
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About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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