The prevalence of tuberculosis is at an all-time high across the world. The escalating awareness among the global populace tuberculosis diagnosis may bring expansive growth prospects for the tuberculosis diagnostics market. The global tuberculosis diagnostics market is prognosticated to observe a promising CAGR across the forecast period of 2019-2029 due to the growing prevalence of tuberculosis and the use of tuberculosis diagnostic kits for detecting COVID-19.
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Various government initiatives across the world to prevent the spread of tuberculosis may lay a red carpet for growth for the tuberculosis diagnostics market. The Revised National Tuberculosis Control Program by the Indian Government is a classic instance. The program has the aim of achieving a ‘TB-free India’ status in the near future. Such initiatives across the globe bring tremendous growth opportunities for the tuberculosis diagnostics market.
Some recent developments have the potential of serving as growth multipliers for the tuberculosis diagnostics market. Some of the major developments are as follows:
• Oxford Immunotec Global recently announced a long-term agreement with Stop TB Partnership-Global Drug Facility (GDF) for using their procurement mechanism and provide T-SPOT TB test to various countries
• The National Institute of Health (NIH) recently announced a $20 mn grant to the Rutgers researchers to evaluate novel point of care tests for diagnosing TB
• The Indian Government announced ramping up of COVID-19 testing facilities through various testing methods including CBNAAT (tuberculosis diagnostics kits)
Asia Pacific to Emerge as Leading Regional Growth Contributor
The tuberculosis diagnostics market may garner extensive growth across the tuberculosis diagnostics market. The World Health Organization (WHO) has included an India molecular assay, TrueNet, for detecting resistant strains of the TB bacteria in its global TB program. Such developments may bring exponential growth opportunities for the tuberculosis diagnostics market. In addition, the ramping up of COVID-19 tests using tuberculosis diagnostic kits may serve as an efficient growth generator for the tuberculosis diagnostics market.
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