Increased prevalence of pediatric and neonatal sepsis, coupled with advancements in automated diagnostic technologies, are key growth drivers.
Increased prevalence of pediatric and neonatal sepsis, coupled with advancements in automated diagnostic technologies, are key growth drivers.
The updated sepsis diagnostics market analysis from Fact.MR anticipates a robust development trajectory for FY 2021-22 and beyond, with the market predicted to expand at a CAGR of over 8% through 2032. Prospects for growth were further bolstered by the coronavirus pandemic, which was connected to the advent of pneumonia-induced sepsis and subsequent mortality.
According to the analysis, the market is predicted to generate over US$ 1,630 Million in revenue by 2032, resulting in strong short-term benefits. These are mostly related to current R&D projects, as well as an increase in ICU and hospital admission-induced sepsis among patients. Manufacturers are adopting cutting-edge automated technology to provide accurate and rapid diagnosis.
Epidemiologically, an estimated 22 occurrences of paediatric sepsis and 2,202 instances of neonatal sepsis per 100,000 live births occur. This equates to 1.2 million instances of paediatric sepsis per year. According to the most recent estimates, an adult prevalence rate of 19.4 million sepsis episodes, with over 5 million fatalities, exists. As a result, efforts are being made to develop more complex sepsis diagnostic techniques, which are projected to increase demand in the future years.
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Key Takeaways from the Market Study:
“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.
Competitive Landscape
The existence of a large number of diagnostic service providers peppers the global sepsis diagnostics market, making it extremely competitive. Among all of the expansion techniques used, providing technologically superior solutions through extensive R&D remains the primary goal.
Leading Players Driving Innovation in the Sepsis Diagnostics Market:
Key industry participants like BioMerieux SA; Becton Dickinson and Company (BD); Thermo Fisher Scientific Inc.; Abbott Laboratories Inc.; Roche Holdings AG etc. are driving the sepsis diagnostics industry.
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Fact.MR, in its new offering, presents an unbiased analysis of the global sepsis diagnostics market, presenting historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis ofproduct (blood culture media, instruments and assays & reagents), method (conventional sepsis diagnostics, automated sepsis diagnostics, pathogen, gram-negative bacterial sepsis, gram-positive bacterial sepsis, fungal sepsis and other pathogens), and technology (microbiology, molecular diagnostics, immunoassays and other technologies) across six major regions (North America, Latin America, Europe, APEJ, Japan and Middle East & Africa).
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Sepsis is a life-threatening condition caused by the body's response to an infection, leading to tissue damage and organ failure.
Assays are tests used to measure the presence or concentration of substances, while reagents are chemicals used in these tests.
CAGR stands for Compound Annual Growth Rate, which measures the mean annual growth rate of an investment over a specified time period.
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