London, 16 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global TB diagnostics market 2015-2019, which is expected to grow at a CAGR of 2.97% during the forecast period of 2014-2019.
Development of advanced molecular tests that can detect Tuberculosis (TB) at an early stage is driving the prospects of growth in this market. Point-of-care and rapid testing devices aid in the early detection of the disease and are also affordable. Tests like the Xpert test has improved accuracy and sensitivity and has brought about a decrease in the number of TB cases. Also, innovative strategies like public awareness programs help to spread awareness about the disease.
“Developments in the diagnostic paradigm and increased allocation of funds and resources have led to the manufacture of new technologies for TB diagnosis. These innovative technologies help to make disease diagnosis rapid and accurate,” says Faisal Ghaus, Vice President of Technavio.
“Various non-profit organizations are now funding high-burden low-income countries to use these rapid tests. High- and moderate-burden countries, such as South Africa and Brazil, have also intensified their research on molecular diagnostics to develop rapid tests.”
Key Market Drivers:
- High Prevalence of TB.
- Initiatives and Funding.
- Robust Diagnostics Pipeline.
Key Market Trends:
- Introduction of Rapid Tests.
- Affordable Tests.
- Tests to Detect MDR-TB and XDR-TB.
Key Market Vendors:
- Abbott Diagnostics
- Alere Inc.
- Becton, Dickinson, and Co.
- Roche Diagnostics
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
