Sepsis Diagnostics Market Size to Surpass USD 1,603.3 Million by 2030, exhibiting a CAGR of 9.7%
As per the report by Fortune Business Insights, the global Sepsis Diagnostics Market size is projected to reach USD 1,603.3 Million in 2030, at a CAGR of 9.7% during the forecast period, 2023-2030
Pune, India, Sept. 12, 2023 (GLOBE NEWSWIRE) — Global Sepsis Diagnostics Market Size was valued at USD 770.4 million in 2022 and is projected to grow USD 1,603.3 million by 2030, exhibiting a CAGR of 9.7% during the forecast period. It is anticipated that various strategic attempts to introduce new products and technical developments will increase global sepsis diagnostics market share.
When the body’s defense against an infection causes harm to its own tissues, it is thought to be experiencing sepsis. Bacterial infection is one of the most typical causes. Moreover, other diseases, such as viral and fungus infections, can cause this illness. The illness progresses through three stages, sepsis, severe sepsis, and septic shock. For example, according to estimations from the World Health Organization (WHO) for 2020, this illness afflicted around 49.0 million people and resulted in 11.0 million fatalities globally in 2017.
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This information is provided by Fortune Business Insights™ in its research report titled Sepsis Diagnostics Market, 2023-2030.
Key Industry Development-
- May 2020: Danaher’s company, Beckman Coulter, Inc., launched the DxH 690T hematology analyzer mid volume analyzer for early diagnosis of sepsis in the U.S.
Key Takeaways –
- Sepsis Diagnostics Market size in North America was USD 392.8 million in 2022
- Rising Incidence of Sepsis Globally Contributes to the Market Growth
- Improvement in Awareness in Emerging Countries to Boost Diagnostic Procedures
- The reagents & consumables segment is expected to hold a major market share during the projected period.
Discover the Leading Players Featured in the Report-
T2 Biosystems, Inc. (U.S.), Danaher (U.S.), Abbott (U.S.), bioMérieux SA (France), Thermo Fisher Scientific Inc. (U.S.), Luminex Corporation (DiaSorin S.p.A.) (U.S.), BD (Becton, Dickinson, and Company) (U.S.), Bruker (U.S.), Siemens Healthcare GmbH (Germany)
Report Scope & Segmentation:
|Forecast Period||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR||9.7%|
|2030 Value Projection||USD 1,603.3 Million|
|Sepsis Diagnostics Market Size in 2022||USD 770.4 Million|
|Historical Data||2019 to 2021|
|No. of Pages||185|
|Segments covered||Type, Technology, Pathogen and Geography|
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Drivers & Restraints:
Increasing Awareness in Developing Countries to Promote Diagnostic Procedures
A large number of government and non-government organizations are attempting to raise public awareness of this disease. The Global Sepsis Alliance, one of the most well-known groups, has teamed up with several organizations from Latin America and Africa to spread awareness of this disorder. Additionally, the Global Maternal Sepsis Research and Campaign was launched by the World Health Organization (WHO) in collaboration with 52 nations (GLOSS). It seeks to evaluate the impact and treatment of maternal sepsis and increase awareness of this problem among healthcare professionals. As a result, it is projected that a rise in the number of foundations and government organizations’ attempts to raise awareness and support the market will accelerate this expansion.
However, since there is currently no single diagnostic test for this disorder, medical practitioners combine tests with urgent and concerning clinical indications. Throughout the projected period, the burden and expense of the condition will limit the global sepsis diagnostics market growth.
By Product Type
- Reagents & Consumables
- Molecular Diagnostics
By Test Type
- Laboratory Tests
- Point-of-Care Tests
By End User
- Hospitals & Clinics
- Diagnostic Centers
North America Dominates the Market Due to Fast Adoption of Contemporary Diagnostics
In 2022, the North America market was expected to be worth USD 392.8 million. Over the forecast period, the region is anticipated to dominate the global market. Due to the high frequency of this ailment, rapid uptake of modern sepsis diagnostics, and attractive reimbursement rules, the region dominates the market.
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Businesses made Significant Sales to Get Competitive Edge
Luminex Corporation, Bruker, T2 Biosystems, Inc., and others are emerging market participants. In addition to focusing on regional development through territory-exclusive distribution agreements, these players have produced significant sales. The market positions of the aforementioned businesses are predicted to improve as a result. For instance, T2 Biosystems, Inc. signed territory-exclusive sales contracts in Norway, Finland, and Turkey in February 2022. T2 Biosystems sold T2Dx Instruments, T2Bacteria, T2Candida, and T2Resistance Panels via these wholesalers in accordance with the contract. Also, it completed a territory-exclusive distribution arrangement in Taiwan, Singapore, and South Korea in November and October 2021. During the projection period, these strategic initiatives are anticipated to increase these players’ market shares.
How big is the Sepsis Diagnostics Market?
Sepsis Diagnostics Market size was USD 770.4 Million in 2022. It is expected to reach USD 1,603.3 Million in 2030.
How fast is the Sepsis Diagnostics Market growing?
The Sepsis Diagnostics Market will exhibit a CAGR of 9.7% during the forecast period, 2023-2030.
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- Sepsis Diagnostics Market
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