8th March 2016 Content supplied by: Technavio
Market Report - E.coli Testing Expected to be $222 Million by 2020
According to the latest market research report by Technavio, the E. coli testing market is expected to surpass USD 222 million in revenue by 2020.
In this report, Technavio covers the present scenario and growth prospects of the global E. coli testing market 2016-2020. The market size has been calculated based on revenues generated by the sales of the following segments in E. coli testing market:
Consumables: Assays, reagents, and kits Instruments: Laboratory benchtop devices
“The lack of active screening of extended-spectrum beta-lactamase (ESBL)-producing bacteria through traditional methods is a major challenge for healthcare organizations and medical practitioners worldwide. As a result, infection caused by antibiotic-resistant ESBL-producing E. coli bacteria is gradually increasing in community hospitals across the globe. With this, incidences of infections caused by ESBL E. coli strains are also on the rise,” said Brahadeesh Chandrasekaran, one of Technavio’s lead industry analysts for in-vitro diagnostics.
“As chances of deriving an incorrect test result in traditional methods is relatively high, vendors are introducing new methods and testing technologies into the market. It is anticipated that over the next four years the market will witness rapid adoption of technologies such as PCR-based diagnostics tests that offer accurate results. This trend will therefore positively impact the global E. coli testing market over the next four years,” added Brahadeesh.
Key leading regions (% revenue share) Americas – 52.7% EMEA – 28.9% APAC – 18.4%%
Americas: largest E. coli testing market
The E. coli testing market in the Americas was valued at close to USD 88.5 million in 2015 and is likely to reach USD 115.1 million by 2020. The market in the Americas is expected to grow at a steady pace during the forecast period because of growing public awareness, increased product launches, and numerous US FDA approvals for new instruments. The high prevalence of GI infectious diseases has resulted in an increased demand for diagnostic E. coli test products and services. Also, in the US, the sales of E. coli test products have increased because of growing awareness on GI infectious diseases. In addition, the country is a base for several established companies in the market.
Rise in laboratory automation and shift to point-of-care rapid diagnostic tests will also boost market growth. Although the market in North America is gradually reaching saturation, Latin American countries are predicted to provide significant growth opportunities. Technavio researchers observe, the market in the Americas will likely sustain its growth pace during the forecast period and attract global investors during the forecast period.
EMEA: second largest E. coli testing market
The E. coli testing market in EMEA was valued at close to USD 48.6 million in 2015. The E. coli testing market in EMEA is likely to grow steadily during the forecast period, with the growing prevalence of GI disorders including E. coli infections witnessed among people who are aged above 60 in the region.
Italy, the UK, Spain, France, and Germany are the major E. coli testing markets in EMEA. In addition, the high population base of people suffering from diarrhea in African countries contributes to the market. However, introduction of multiplex PCR methods in laboratories has increased consolidation among the diagnostic centers, and their preference for early disease diagnosis largely drives the Europe market. Several pathological laboratories in Europe have installed fully automated systems for disease diagnosis to increase the accuracy of test results and shorten turnaround period. The market has displays significant opportunities in smaller countries in Europe as well as in Africa, and this in turn will further boost revenues for E. coli testing in EMEA until 2020.
E. coli testing market in APAC
The E. coli testing market in APAC is likely to reach over USD 46 million by 2020. The E. coli testing market in APAC is growing at a high rate because of increased product sales in countries such as Japan, India, Malaysia, and China. Government initiatives, and increased understanding about the need of improved healthcare infrastructure are driving the market.
The large population base offers great scope for vendors to expand their businesses in this region. Also, small and medium-sized vendors are expected to collaborate with leading players to penetrate the untapped regions during the forecast period. Growing public awareness and rise in the number of pathology laboratories and diagnostic centers also contributes to the market growth in APAC.With
Date Published: 8th March 2016
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