Apr 19, 2021
Sepsis Diagnostics Market Growth Pursuant to Enhanced Uptake of Automated Detection Devices
by Team Fact.MR
Fact.MR’s revised sepsis diagnostics market study forecasts a healthy growth trajectory for FY 2021-22 and beyond, with the market expected to increase at a CAGR worth around 8% through 2031. Growth prospects were further underpinned amidst the coronavirus pandemic, attributed to the onset of pneumonia-induced sepsis and consequent fatalities.
According to the report, the market is expected to yield high short-term gains, generating over US$ 700 million in revenue by 2026. These are largely attributed to ongoing research & development initiatives amid a general upswing in ICU and hospital admission-induced sepsis amongst patients. Manufacturers are incorporating the latest automated technologies to ensure precision and timely diagnostics.
Epidemiologically, an estimated 22 cases of childhood sepsis per 100,000 person-years and 2,202 cases of neonatal sepsis per 100,000 live births occur. This translates into 1.2 million cases of childhood sepsis annually. Most recent estimates attributed an adult prevalence rate of 19.4 million sepsis incidences, with over 5 million deaths. Hence, investments are underway to introduce highly sophisticated sepsis diagnostic approaches, which are expected to incline demand over the coming years.
Key Takeaways from Market Study
- By product, kits & reagents to remain the most deployed sepsis diagnostic solutions
- Automated sepsis diagnosis to acquire greater momentum, backed by key solutions launches by prominent manufacturers
- By pathogen, gram positive bacterial sepsis diagnosis to acquire major momentum
- By technology, microbiology testing is likely to tower over other approaches, with molecular diagnostics acquiring high momentum
- Increasing regulatory approvals of key equipment by the Food & Drug Administration heightening U.S. sales prospects
- The U.K. to experience high penetration amid rising government initiatives to rein in sepsis fatalities
- Technological breakthroughs to widen growth prospects for the market in Germany
- Dearth of institutional level preparedness to cope with sepsis patient deluge spurring adoption of advanced equipment across India
“As the frequency of hospital admissions for various diseases increases, risk of developing sepsis during treatment is rising, prompting healthcare settings to incorporate sepsis diagnostics and detection systems, spurring heightened R&D to introduce new solutions,” comments a Fact.MR analyst.
The global sepsis diagnostics market is interspersed with the presence of a large number of diagnostic service providers, rendering it highly competitive in nature. Amongst all the expansion strategies deployed, offering technologically advanced solutions by virtue of conducting immense R&D remains the core objective.
- For instance, Luminex Corporation, a pioneer in diagnostics testing, offers the VERIGENE® and VERIGENE® II Systems, specifically designed to target infections in the blood stream, respiratory tract and gastrointestinal tract. These systems use highly automated workflows, helping perform extraction, amplification, hybridization and detection, helping improve clinical outcomes by preventing the onset of sepsis.
- Likewise, Abionic SA offers the abioSCOPE, a non-fluidic immunoassay technology, which was tested across 14 European hospitals on several hundred patients, with doctors confirming that in over 85% of the cases, sepsis detection was possible more than 24 hours prior as compared to standard care. The solution was approved for clinical trials across U.S. hospitals in 2020.
Find More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the sepsis diagnostics market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of product (blood culture media, instruments, and assays & reagents), method (conventional diagnostics and automated diagnostics), pathogen (gram-negative bacterial species, gram-positive bacterial species, fungal species, and other pathogens), and technology (microbiology, molecular diagnostics, immunoassays and other technologies), across six major regions of the world (North America, Latin America, Europe, APEJ, Japan, and MEA).
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For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant – Healthcare
E-mail: [email protected]