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Sepsis Diagnostics Market Growing at CAGR of 9.1% from 2018-2023 | Driver, Restraint, Leading Companies

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Sepsis Diagnostics Market Growing at CAGR of 9.1% from 2018-2023 | Driver, Restraint, Leading Companies

February 21
21:24 2020
Sepsis Diagnostics Market Growing at CAGR of 9.1% from 2018-2023 | Driver, Restraint, Leading Companies

bioMérieux (France), Becton, Dickinson, and Company (US), and Danaher (US) dominated the global sepsis diagnostics market in 2016. Other players include T2 Biosystems (US), Luminex (US), Roche Diagnostics (Switzerland), Thermo Fisher Scientific (US), Bruker (US), Abbott Laboratories (US), Immunexpress (Australia), Response Biomedical Corp. (Canada), Axis-Shield Diagnostics (UK), CytoSorbents (US), Mitsubishi Chemical Europe (Germany), and EKF Diagnostics Holdings (UK), among others.
The global sepsis diagnostics market is projected to reach USD 613.9 million by 2023 from USD 396.6 million in 2018, at a CAGR of 9.1%.

Rising prevalence of sepsis across the globe, increasing geriatric population, growing government initiatives for creating sepsis awareness, and high incidence of hospital-acquired infections are expected to drive the demand for sepsis diagnosis during the study period of sepsis diagnostics market.

High incidence of sepsis in adult population

The prevalence of sepsis has increased significantly over the last decade, and the condition is responsible for more number of deaths than other disease conditions, such as bowel and breast cancer combined. The major factors responsible for the significant growth in the prevalence of sepsis include the rising geriatric population, development of drug-resistance among individuals, and rise in virulent varieties of infections. The clinical diagnosis of sepsis infections in geriatric patients is a challenging task. In addition, aging increases the risk of a sudden deterioration in a patient’s condition from sepsis to severe sepsis and septic shock. Thus, sepsis diagnostic instruments play a key role in the accurate and timely diagnosis of the condition in geriatric patients.

High cost of automated diagnostic devices

Every year, a large number of people contract sepsis worldwide, and the mortality rate due to sepsis is very high in comparison with other disease conditions. Early and accurate diagnosis of sepsis is very crucial in patients, as the condition can be managed effectively through proper medication and care. These devices are easy to use, fast, and have advanced features, owing to which they cost more as compared to conventional blood culture tests. For instance, the cost of molecular diagnostic tests is between USD 300 and USD 3,000, which is very high as compared to the cost of blood culture tests that are priced as low as ~USD 28–35. Thus, government hospitals (especially in emerging nations) and academic research laboratories generally cannot afford such systems as they have limited budgets, thereby hindering market growth.

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Based on technology, the market is segmented into microbiology, immunoassays, molecular diagnostics, flow cytometry, microfluidics, and biomarkers. The biomarkers segment is expected to grow at the highest CAGR during the forecast period. Growth in this segment can be attributed to the advantages offered by biomarkers such as identification of gram-positive and gram negative infection and helps in differentiating between viral and fungal infections. Also, they help in early identification of sepsis.

Geographical Region Covered in Sepsis Diagnostics Market

Geographically, the bacterial sepsis diagnosis market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World (RoW). The Asia Pacific is one of the major high growth revenue-generating regions in the sepsis diagnostics market. China, India, and Japan are the major countries responsible for the high growth of this regional market owing to factors such as the increasing number of surgical procedures, improving healthcare infrastructure, and rising number of clinical studies in these emerging countries focusing on the diagnosis of various blood-borne infections including sepsis.

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