Diagnostics Opens up new avenues for the Shigella Test Kit Market |...

Diagnostics Opens up new avenues for the Shigella Test Kit Market

Posted 2023-11-16 13:03:05

Rise in digital therapeutics - Digital therapeutics refers to evidence-based therapeutic interventions designed to prevent, manage, or treat a medical condition. Companies are focusing on developing digital diagnostic and testing tools like smartphone-based rapid test kits and portable lab devices connected to telehealth platforms. This allows remote monitoring of patients and early detection of diseases like shigellosis. The increasing adoption of such novel digital solutions is expected to propel the growth of the shigella test kit market over the forecast period.

The Shigella test kit market is segmented based on product into immunoassay test kits and PCR test kits. Among these, the immunoassay test kits segment held the largest market share in 2022. This is because immunoassay test kits have higher adoption rate as they are simple to use, require less time to perform the test and generate quick results as compared to PCR test kits. However, the PCR test kits segment is expected to grow at a higher CAGR during the forecast period due to high accuracy and sensitivity offered by PCR tests

The global Shigella test kit market is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing prevalence of shigellosis. According to WHO, shigellosis causes high medical costs due to treatment costs and loss in productivity. Therefore, increasing awareness regarding shigellosis is driving the adoption of test kits.

Regional analysis - North America dominated the global market in 2022 owing to supportive initiatives by US government and presence of major players. Asia Pacific is expected to grow at the highest CAGR during the forecast period due to rapidly developing healthcare infrastructure and increasing spending on healthcare in Asian countries.

Key players operating in the Shigella test kit market are Thermo Fisher Scientific Inc., Meridian Bioscience Inc., QIAGEN N.V., Bio-Rad Laboratories Inc., Creative Diagnostics, Hardy Diagnostics, Luminex Corporation, DiaSorin S.p.A., Sekisui Diagnostics LLC, BioMérieux SA, MP Biomedicals LLC, Coris BioConcept, Alere Inc., Fujirebio Diagnostics Inc., CTK Biotech Inc. These players are focusing on new product launches and geographic expansion to increase their market share.

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