The global meningitis diagnostic testing market in rising with increasing prevalence of cryptococcal and viral meningitis. The global meningitis diagnostic testing market was valued over US$ 105.0 Mn in 2016 and is projected to witness cumulative annual growth rate (CAGR) of over 3.0% from 2017 to 2025 to surpass the value of US$ 150.0 Mn by 2025. The global market is witnessing relatively higher growth owing adoption, easy availability of lateral flow assay across all the regions over globe.
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Rising Demand for Innovative Technologies to Fuel Global Market Expansion
New, innovative technologies such PCR and next-generation sequencing are available in the market, providing a less expensive way for the diagnosis, prognosis, and therapy selection in patients during their treatment. This helps physicians frame appropriate therapeutic systems for patients suffering from the infectious disease. Rising demand for point-of-care services is anticipated to drive the meningitis diagnostic testing market during the forecast period. Point-of-care services provide more accurate results in less time as compared to traditional methods. Culture diagnostics has been less adopted separately, due to test limitations, lower specificity, higher time required, and the recent trend of slower adoption of culture tests compared to other reliable tests available.
PCR Assay Leads the Market and Found to be Most Attractive Product Segment
The report offers detailed segmentation of global meningitis diagnostic testing market based on product, and end-user. Among the product segment, PCR Assay segment is poised to account for leading share of the global market during the forecast period from 2017 to 2025. Factors attributed to the higher share of the PCR assay segment in the global market include ability of PCR to diagnose the disease within a short time period drives the PCR assay segment. Development and launch of new PCR assays with increased automation (such as BioFire FilmArray Multiplex PCR system) for the diagnosis of meningitis have boosted the segment. Also, PCR assays are estimated become more commonplace for meningitis diagnosis in the next five to 10 years. Globally, point-of-care lateral flow assay is an ideal test for meningitis diagnosis in settings with limited resources. This leads to wide adoption of these assays. This, in turn, drives the lateral flow assay segment.
Hospitals segment dominates the Market Followed by Diagnostics Centers
Among end-user, hospitals segment is projected to hold dominant share of global meningitis diagnostic testing market during the forecast period and is likely to expand at CAGR more than 4.0% from 2017 to 2025. Major reason responsible for the dominance of this segment such as Meningitis is a fatal disease that requires immediate care. Therefore, increase in number of hospitals visit and rise in prevalence of meningitis is projected to boost the hospitals segment during forecast period. Diagnostic centres segment is projected to hold substantial share of global meningitis diagnostic testing market during the forecast period. Diagnostic centers are specially meant only disease detection. They are well equipped with sophisticated instruments, hence people in developing and under developed countries prefer diagnostics centers