Neglected Tropical Diseases Diagnosis Market Growth On The Basis Of Type, Application, Region & Forecast To 2030: Grand View Research Inc.
San
Francisco, 26 June 2023: The Report
Neglected Tropical Diseases Diagnosis Market Size, Share & Trends Analysis
Report By Disease (Dengue, Chikungunya), By Diagnostic Method (Conventional,
Molecular/Modern), By Service Type, By End Use, And Segment Forecasts, 2023 -
2030
The global neglected tropical diseases
diagnosis market size is expected to reach USD 8.97 billion by 2030, expanding
at a CAGR of 4.5% during the forecast period, according to a new report by
Grand View Research, Inc. Increasing disease burden, growing demand for early
disease identification, and complementary advancements in technology is
expected to drive growth in demand.
Increasing concern regarding neglected
tropical diseases and their impact on the population as well as economies has
boosted the demand for the development of early disease detection methods. This
growth in concern is evident in the launch of a substantial number of programs
aiming to combat NTDs. For instance, the Global Network for Neglected Tropical
Diseases aims to raise awareness and funding, both of which are essential to
control and eliminate the most common NTDs. In addition, various companies are
undertaking efforts to develop less complicated and inexpensive diagnostic
assays for tropical diseases. In January 2021, Novartis AG signed an agreement
with the WHO to manage leprosy across the globe. This, in turn, is anticipated
to support the growth of this market throughout the forecast period.
According to the WHO, as of January
2022, more than 1.5 billion people are infected with soil-transmitted helminth
infections worldwide. The Kato-Katz technique is the WHO gold standard that is
widely used to diagnose the intensity of STHs. These infections are distributed
widely in tropical and subtropical areas majorly occurring in America,
sub-Saharan Africa, East Asia, and China. Furthermore, the presence of key
players is expected to fuel the overall market growth. The involvement of these
players in new product development is considered to be the contributing factor
to the development of the NTD diagnosis market.
Growing awareness of neglected
tropical diseases (NTDs) and increasing number of initiatives undertaken by the
government are anticipated to fuel the market growth. For instance, inclusion
of NTDs in the Sustainable Development Goals (SDG), a United Nations
Development Program, as a global target is anticipated to fuel market growth.
Furthermore, various initiatives being undertaken by WHO, such as road map 2030
for the elimination of NTDs, are expected to drive market growth during the
forecast period.
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Report of Neglected Tropical Diseases Diagnosis Market @ https://www.grandviewresearch.com/industry-analysis/neglected-tropical-diseases-diagnosis-market
Neglected
Tropical Disease Diagnosis Market Report Highlights
- By disease
type, the soil-transmitted helminthiases dominated the market in 2022,
owing to the increasing prevalence and high adoption of diagnostics tests
- The
molecular/modern diagnostic segment dominated the market in 2022, owing to
an increase in R&D for molecular diagnostic techniques coupled with a
rise in demand for point-of-care products
- Centralized
service accounted for the largest segment in terms of market share in 2022
due to high procedure volume and the wide presence of ancillary support in
terms of infrastructure and manpower
- By end-use,
home healthcare is expected to be the fastest-growing segment as a result
of the growing popularity and demand for POCT services
- Asia Pacific
dominated the global market in 2022, owing to the high disease burden of
NTDs, increased healthcare expenditure, rapid technological advancements,
and a rise in customer awareness about the use of PCR tests in diagnosing
NTDs
- Latin America
is expected to grow considerably in the future, owing to increased IVD
product penetration and the high disease burden of NTDs in developing
countries
In the wake
of the COVID-19 pandemic, the neglected tropical disease (NTD) diagnosis
witnessed a significant decline. WHO launched the Global Program to Eliminate
Lymphatic Filariasis (GPELF) in 2000, which aims to stop the spread of
infection and relieve the pain of those who have already been afflicted.
However, according to the pulse survey conducted by WHO, as of early 2021, the
neglected tropical disease program has faced disruptions in 44% of countries.
Moreover, the high risk of transmission of SARS-CoV-2 infection has affected
the public health approaches for NTDs. In countries with low health budgets,
funds being shifted to tackle other diseases, and a shortage of funding from
international partners and the foreign government has significantly impacted
the growth of the market.
Neglected Tropical Diseases Diagnosis Market
Report Scope
Report
Attribute |
Details |
Market size
value in 2023 |
USD 6,573.61
million |
Revenue
forecast in 2030 |
USD 8.97
billion |
Growth rate |
CAGR of 4.5%
from 2023 to 2030 |
Base year for
estimation |
2022 |
Historical data |
2018 - 2021 |
Forecast period |
2023 - 2030 |
List Of Key
Players Of Neglected Tropical Diseases Diagnosis Market
- F. Hoffmann-La Roche Ltd
- Abbott
- Thermo Fisher Scientific Inc.
- ZeptoMetrix
- InBios International, Inc.
- Genome Diagnostics Pvt. Ltd.
- Omega Diagnostics Group PLC
- Coris BioConcept
- DiaSys Diagnostic Systems GmbH
- Oscar Medicare Pvt Ltd.
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