Global Sepsis Diagnostics Market
As stated in our extensive report; the Global Sepsis Diagnostics Market accounted for USD 529.5 Million in the year 2022 and is forecast to reach USD 980.4 Million by 2030 at a CAGR of 9.2%.
Rising cases of infectious diseases and heavy research funding provided by governments across the globe to combat this issue have been the main drivers of Sepsis Diagnostics Market growth. Sepsis Diagnostics is a serious medical condition that is a result of a weak immune system which itself arises due to the body’s overwhelming response to bacteria, viruses, and parasitic or fungal invaders. To mount an appropriate immune response to fight these micro-organisms, the body ends up hurting its own cells and organs which, if left unchecked, results in septic shock, and organ failure, and can possibly be fatal. Therefore, death by Sepsis Diagnostics is common among hospital patients. Geriatric patients as well as people with co-morbidities such as diabetes, and AIDS are at a higher risk of acquiring infections and Sepsis Diagnostics globally.
The need for advancement in the field of detection and treatment of these infections in a swift and efficient manner in order to provide timely intervention is being felt sorely across the world. This opens up lucrative growth opportunities in the healthcare domain. Rising patient awareness about infections and technological advancements are also expected to fuel the Sepsis Diagnostics market over the forecast period. However, lack of skilled professionals in the industry as well high cost of diagnostic tests and medical equipment can prove to be an obstruction to market growth.
Factors Influencing Global Sepsis Diagnostics Market Growth
The growth of the global Sepsis Diagnostics market can be attributable to the following:
- The prevalence of Sepsis Diagnostics infections, worsened by the COVID-19 pandemic on a global scale, resulted in rising awareness among patients and doctors about Hospital Acquired Infections (HAI) and brought the septic market to the forefront. Many publicly well as government-funded research projects with a focus on Sepsis Diagnostics therapeutics and diagnosis are being encouraged.
- The Sepsis Diagnostics market is positively impacted by many key companies in the healthcare domain looking to make strides in the technological field of the Sepsis Diagnostics market with a surge in collaborations and partnerships observed across organizations looking for advanced molecular diagnostics procedures to reduce the time taken for medical test results from several hours to the matter of a few minutes.
- Increasing investments in specialized equipment as well as Sepsis Diagnostics-focused extensive research and development approaches for diagnosis and treatment of severe chronic infections is expected to fuel the market. Additionally, the emergence of unique Sepsis Diagnostics detection methods such as the use of molecular and immunological biomarkers as well as advanced data analysis tools for efficient management of information will drive market growth.
- The COVID-19 pandemic has largely impacted the Sepsis Diagnostics Recent studies have shown that people who were infected with the coronavirus and subsequently admitted to hospitals were at a much larger risk of developing Sepsis Diagnostics within the first few weeks of admission. Many casualties due to COVID-19 were reported to have also suffered from a co-infection. This further fueled the demand for rapid test kits and other diagnostic tools for the detection of infections.
North America region Dominates the Global Market
North America is anticipated to account for the majority of sales on the global market for Sepsis Diagnostics. Many well-known players in the Sepsis Diagnostics business are based in this area. Local companies are putting in enormous efforts to supply industry demands. The North American Sepsis Diagnostics market will also benefit from the high demand for value-added products, such as rapid test kits, and the increasing investment in Sepsis Diagnosis-centric research by private and governmentally funded organizations alike. The Sepsis Diagnosis market growth will be aided by the surge in patient awareness as well.
The overall Sepsis Diagnostics market growth has been favorably impacted by rising investment in specialty equipment and focus on research and development activities.
Notable and prominent players in the Global Sepsis Diagnostics Market include- bioMérieux SA (France), Becton, Dickinson & Company (U.S.), Pfizer Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), GlaxoSmithKline PLC (U.K.), F. Hoffmann-La Roche Ltd (Switzerland), Beckman Coulter Inc. (U.S.) and others.