Enteric Disease Testing Market to Reach $5.3 Billion, Globally, by 2032 at 3.3% CAGR: Allied Market Research

Rhea-AI Summary

The global enteric disease testing market is projected to grow from $3.8 billion in 2022 to $5.3 billion by 2032, achieving a CAGR of 3.3% during the forecast period of 2023-2032. Key growth drivers include increased awareness in developing countries, a surge in enteric disease cases, and advancements in testing technologies. The reagents and consumables segment led the market in 2022 and is expected to maintain its dominance, while the molecular diagnostics segment is anticipated to grow the fastest at a CAGR of 4.1%. Hospital laboratories accounted for the largest market share and are expected to see a CAGR of 3.6%. However, high costs associated with molecular diagnostics could hinder growth. North America dominated the market in 2022, with the Asia-Pacific region expected to witness the highest growth rate of 5.2%.

Positive

• Market size growth from $3.8 billion in 2022 to $5.3 billion by 2032.
• CAGR of 3.3% anticipated from 2023 to 2032.
• Increase in awareness and demand for enteric disease testing in developing countries.
• Technological advancements in testing equipment supporting market growth.
• Reagents and consumables segment held the highest market share in 2022.

Negative

• High costs associated with molecular diagnostic assays may limit market growth.

Increase in the adoption of enteric disease testing kits and equipment, surge in cases of enteric diseases such as E. coli infection, cholera H. pylori infection, salmonellosis, and the untapped market in developing countries drive the growth of the global enteric disease testing market.

PORTLAND, Ore., April 24, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Enteric Disease Testing Market By Product Type (Reagents and Consumables, Equipment), By Technique (Molecular Diagnostics, Immunodiagnostics), By Disease Type (Bacterial Enteric Disease, Viral Enteric Disease, Parasitic Enteric Disease), By End User (Hospital Laboratories, Pharmaceutical and Biotechnology Companies, Academic and Research Institutes): Global Opportunity Analysis And Industry Forecast, 2022-2032". According to the report, the global enteric disease testing industry generated $3.8 billion in 2022, and is anticipated to generate $5.3 billion by 2032, witnessing a CAGR of 3.3% from 2023 to 2032.

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Prime determinants of growth

Increase in awareness in developing countries regarding diagnosis of infectious enteric diseases, easy availability of testing reagents of enteric disease, and technological advancement in testing equipment of enteric diseases drive the growth of the global enteric disease testing market. However, the high cost associated with molecular diagnostic assay is hampering the enteric disease testing market growth. On the contrary, the increase in adoption of key strategies by key players is expected to offer remunerative opportunities for expansion of the enteric disease testing market during the forecast period.

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$3.8 billion
Market Size in 2032	$5.3 billion
CAGR	3.3 %
No. of Pages in Report	474
Segments covered	Product Type, Technique, Disease Type, End User, and Region.
Drivers	Surge in cases of enteric diseases Technological advancement in testing equipment of enteric diseases Untapped market in developing countries
Opportunities	Increase in adoption of key strategies by key players Increase in demand for enteric disease testing kits
Restraints	Inflated cost associated with molecular diagnostic assay

Impact of Covid-19 on Enteric Disease Testing Market

• Due to the COVID-19 pandemic and the subsequent global lockdowns, the enteric disease testing market faced a downturn.
• However, as the global situation started ameliorating, the demand for enteric disease testing product was restored back. This, in turn, presented various growth opportunities for companies operating in the enteric disease testing market.

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The reagents and consumables segment to maintain its leadership status throughout the forecast period

Based on product type, the reagents and consumables segment held the highest market share in 2022, accounting for more than two-thirds of the global enteric disease testing market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to rise in number of market players who manufactures reagents and consumables and increase in awareness among people regarding use of kits for diagnosis of enteric disease. However, the equipment segment is projected to manifest the highest CAGR of 3.9% from 2023 to 2032, as it offers short period of testing, higher accuracy, and high demand of automation for testing of enteric disease.

The immunodiagnostics segment to maintain its leadership status throughout the forecast period

Based on technique, the immunodiagnostics segment held the highest market share in 2022, accounting for more than three-fifths of the global enteric disease testing market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to high adoption of immunodiagnostics technique and increase in technological advancement in immunodiagnostic technique. However, the molecular diagnostics segment is projected to manifest the highest CAGR of 4.1% from 2023 to 2032, owing to the increased demand of molecular diagnostics product and increased use of molecular diagnostics technique in research.

The hospital laboratories to maintain its dominance by 2032

Based on end user, the hospital laboratories segment held the highest market share in terms of revenue in 2022, accounting for around four-fifths of the global enteric disease testing market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment is expected to witness the fastest CAGR of 3.6% from 2023 to 2032, owing to increase in number of enteric disease tests performed in hospital laboratories, and rise in routine body checkup in hospital laboratories.

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North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global enteric disease testing market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to robust healthcare infrastructure, presence of key players, and rise in healthcare expenditure. However, the Asia-Pacific region is expected to witness the fastest CAGR of 5.2% from 2023 to 2032, owing to an increase in awareness related to use of enteric disease testing products, unmet medical demands, and high population base.

Leading Market Players: -

• Abbott Laboratories
• Becton Dickinson & Company
• Biomerica Inc.
• Biomerieux SA
• Bio-Rad Laboratories Inc.
• Coris Bioconcept
• Diasorin S.p.A.
• Meridian Bioscience Inc
• Quest Diagnostics
• Trinity Biotech

The report provides a detailed analysis of these key players of the global enteric disease testing market. These players have adopted different strategies such as new product approval, acquisition, partnership, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."

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FAQ

What is the projected size of the enteric disease testing market by 2032?

The enteric disease testing market is projected to reach $5.3 billion by 2032.

What is the current market size of the enteric disease testing industry?

The current market size of the enteric disease testing industry is $3.8 billion as of 2022.

What is the CAGR of the enteric disease testing market?

The CAGR of the enteric disease testing market is projected to be 3.3% from 2023 to 2032.

Which segment is expected to show the highest growth in the enteric disease testing market?

The molecular diagnostics segment is expected to show the highest growth with a CAGR of 4.1% from 2023 to 2032.

How did the COVID-19 pandemic affect the enteric disease testing market?

The enteric disease testing market faced a downturn during the COVID-19 pandemic but has since experienced a restoration of demand.

Which region dominated the enteric disease testing market in 2022?

North America held the highest market share in the enteric disease testing market in 2022.

What are the key drivers for growth in the enteric disease testing market?

Key drivers include increased awareness in developing countries, technological advancements, and a surge in enteric disease cases.