Home Press Releases Meningitis Diagnostic Testing Market Size Worth $162.62 Million By 2032 | CAGR: 3.5%

Meningitis Diagnostic Testing Market Size Worth $162.62 Million By 2032 | CAGR: 3.5%

The global meningitis diagnostic testing market size is expected to reach USD 162.62 million by 2032, according to a new study by Polaris Market Research. The report “Meningitis Diagnostic Testing Market Share, Size, Trends, Industry Analysis Report, By Test Type (Latex Agglutination Test, Lateral Flow Assay, PCR Assay, ELISA Test, Culture Test); By End-use; By Region; Segment Forecast, 2023 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Key factors influencing the market growth rise in the cases of meningitis in developed economies, upsurge in diagnostic centers, and patient’s awareness regarding the severity of the disease. Moreover, emerging nations with viable options for treatment and a massive target population contribute to market growth. In line with this, in January 2021, Thermo Fisher Scientific signed a final agreement to buy Mesa Biotech, Inc., a privately held molecular diagnostic firm, for about $450 million to provide reliable testing solutions.

 

Around 375 instances of meningococcal infection were recorded in the U.S. In June 2021, according to the Center for Disease Control and Prevention Updates (an incidence rate of 0.11 cases per 100,000 persons). All these factors cumulatively affect the industry growth of this region in the forecast period.

 

Asia Pacific region is estimated to show the fastest growth rate in the forecast period for some key reasons, including the increasing prevalence of meningitis, continuous research initiatives, and developing economies. Additionally, continuing trials in the region, favorable regulatory efforts, and increased investments by regional market participants are expected to boost regional growth throughout the forecast period.

 

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In June 2022, the Florida Department of Health and the Centers for Disease Control and Prevention (CDC) worked together to discover one of the worst meningococcal disease outbreaks among homosexual and bisexual men in American history. There have been at least 24 cases and six fatalities among homosexual and bisexual males recorded till that time. These outbreaks boosted the market’s growth. The development of diagnostic tests which can detect meningitis in less time provides additional help in treating meningitis, leading to the growth of this industry.

 

Meningitis Diagnostic Testing Market Report Highlights

  • PCR Assay segment is anticipated to grow at the highest CAGR over the forecast period due to its rapid test findings that are highly exact and accurate; it has the most significant market revenue. This fast turnaround for results improved clinical outcomes for patient care.
  • The hospital sector is expected to hold a significant market share over the forecast period due to the availability of optimal care delivery and the severity of meningitis in patients.
  • North America is expected to grow significantly over the projected period because of an increase in the number of patients suffering from the disease.
  • Key players in the market include Thermo Fisher Scientific, Bio-Rad Laboratories, ELI TechGroup, Abbott Laboratories, Becton and Dickinson, Luminex Corporation, GlaxoSmithKline, Merck KGaA, Baxter Quest Diagnostics, Roche, Cepheid, Pfizer.

 

Polaris Market Research has segmented the meningitis diagnostic testing market report based on test type, end-use, and region:

 

Meningitis Diagnostic Testing, Test Types Outlook (Revenue – USD Million, 2019 – 2032)

  • Latex Agglutination Test
  • Lateral Flow Assay
  • PCR Assay
  • ELISA Test
  • Culture Test

Meningitis Diagnostic Testing, End-Use Outlook (Revenue – USD Million, 2019 – 2032)

  • Hospitals
  • Diagnostic Centers
  • Others

Meningitis Diagnostic Testing, Regional Outlook (Revenue – USD Million, 2019 – 2032)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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