Sepsis Diagnostics Market Size and Forecast to 2033 | FMI
Between 2023 and 2033, the market for Sepsis Diagnostics is anticipated to grow at a CAGR of 8.1%. The market is anticipated to be worth US$ 561.2 million in 2023. By 2033, the valuation is anticipated to surpass US$ 1.2 billion.
The sector is booming due to increased demand for antibiotic-resistant bacterial strains, an ageing population, and a high prevalence of hospital-acquired infection. Additionally, a spike in the proportion of product approvals for sepsis diagnosis is expected to promote demand for sepsis diagnostics.
However, factors such as a lack of experienced specialists for diagnosing sepsis, a lack of knowledge, and the adoption of conventional processes during antibiotic production hamper the sales of sepsis diagnostic.
Owing to the rise in newborn umbilical cord infection occurrences and the number of surgical procedures in these countries, developing markets provide a positive outlook for sepsis diagnostics.
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HAIs, also known as nosocomial infections, are a leading source of morbidity and mortality in hospitals around the world. Urinary tract infections, pneumonia, and sepsis are the most frequent hospital-acquired infections (HAIs). In addition, in immunocompromised individuals, aged patients, and people with chronic conditions, HAIs can cause sepsis. Because of the significant rise in HAIs around the world, demand for sepsis diagnostic devices is projected to expand in the future years.
Sepsis is a complex condition to detect, and even a one-minute delay in antibiotic delivery increases the chance of death by 7.6% in septic shock patients with hypertension. As a result of the emerging trends in the sepsis diagnostics market, there is a greater need for quick sepsis detection to avoid antibiotic therapy delays in sepsis patients.
Many sepsis diagnostic companies are growing their product offerings in point-of-care technologies, which can quickly identify sepsis, cut down on diagnosis time, and improve life expectancy after sepsis.
The global sepsis diagnostics market is predicted to reach US$ US$ 770 Mn by 2026.
Key Takeaways
Attributed to the presence of a larger consumer population in developing markets such as India and China, the Asia Pacific region of rapid sepsis diagnostics is expected to grow profitably over the forecast period.
The global sepsis diagnostics market adoption trends indicate North America is likely to generate more than $200 million in revenue by the end of 2026. The sepsis diagnostics companies in the region are growing due to well-established healthcare infrastructure and increased usage of innovative products. Septic poisoning is also one of the leading causes of death in the United States.
As per the sepsis diagnostics market analysis, microbiology technology is likely to gain traction. Microbiology is expected to generate more than $200 million in income by 2026.
By product, the sepsis diagnostics market opportunities are divided into blood culture media, assays & reagent kits, devices, and software. The blood culture media segment held the most significant market share during the forecast period. This growth can be ascribed to a rise in blood culture media as a sepsis diagnostics device.
“Sepsis diagnostics device are expensive, limiting the growth of this industry. Additionally, in certain countries, there are no clear guidelines for the treatment of sepsis, and there is a lack of awareness about the repercussions of sepsis if it is not treated effectively.”
Competitive LandscapeOrganizations in the global quality articulation market are consolidating and acquiring systems to gain a competitive advantage and generate significant profits. On the other hand, some players benefit from significant new work systems to gain a competitive advantage in the sepsis diagnostics market statistics.
Cytovale Inc. and the Biomedical Advanced Research and Development Authority, or BARDA, announced cooperation in April 2020 to increase the use of Cytovale’s Rapid Sepsis Diagnostic System for identifying sepsis in patients with probable respiratory infections, such as COVID-19.
Immunexpress announced a quick SeptiCyte, a one-hour molecular diagnostic test for sepsis, on Biocartis’ Idylla platform in Europe in October 2020. This is one of the first deeply integrated, immune response-based diagnostics to help clinicians diagnose sepsis and sepsis diagnostics market analysis.
Key Segments
By Product:
Blood Culture Media
Assays & Reagents
Instruments, and Software
By Technology:
Blood Culture
Immunoassays
Molecular Diagnostics
Flow Cytometry
Microfluidics
Biomarkers
By Method:
Automated Diagnostics
Conventional Diagnostics
By Pathogen:
Bacterial Sepsis
Fungal Sepsis
Viral Sepsis
Others
By Test Type:
Laboratory Tests
Point-of-Care Tests
By End User:
Hospitals and Specialty Clinics
Pathology & Reference Laboratories
Research Laboratories & Academic Institutes
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