The global sepsis diagnostic market size is expected to reach a value of USD 1.1 billion by 2027, expanding at a CAGR of 9.4%, according to a new report by Grand View Research, Inc. High prevalence of sepsis, introduction of technologically advanced medical examination systems and increasing government initiatives is expected to propel market growth over the forecast period.
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According to CDC estimates, every year more than 1.7 million adults in U.S. suffer from sepsis, which leads to around 270,000 deaths. Furthermore, according to the report published by OECD in 2018, every year around 3.8 million patients suffer from hospital-acquired infections (HAIs) in acute care hospitals in European countries. High prevalence of HAIs in key regions is expected to significantly increase the demand for medical examination solutions, thereby fueling market growth over the forecast period.
Increasing regulatory approval and introduction of technologically advanced medical examination solutions for the life-threatening disease condition are expected to facilitate market growth over the forecast period. In May 2018, T2 Biosystems, Inc., a U.S.-based emerging medical examination solutions company received the U.S. FDA approval for its T2Bacteria Panel, intended for the detection of specific sepsis-causing bacterial pathogens in human whole blood specimens.
In April 2019, the Scottish Government in collaboration with Sepsis Research (originally called FEAT - The Fiona Elizabeth Agnew Trust) launched a Scotland-wide campaign to spread public awareness about the signs and symptoms of sepsis. Such initiatives to raise public awareness about the disease condition is expected to raise demand for its rapid medical examination solutions and support its market growth in the near future.
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Further key findings from the study suggest:
• In 2019, the blood culture media segment has emerged as the largest revenue generating segment owing to the high adoption of culture media tests in laboratories for the diagnosis of septic poisoning
• Molecular diagnostics is anticipated to witness a lucrative CAGR over the forecast period owing to its high sensitivity, accuracy, and less turnaround time
• In 2019, bacterial sepsis contributed towards the largest revenue share among the pathogen segment owing to its high prevalence
• North America dominated the sepsis diagnostics market with the largest revenue share in 2019. High awareness, favorable reimbursement scenario, and presence of established players are facilitating the dominance of this region during the study period
• The Asia Pacific region is projected to witness a lucrative growth owing to increasing awareness about sepsis diagnosis and treatment in emerging economies such as India and China
• Some of the key players include bioMérieux SA; Beckman Coulter, Inc.; Becton, Dickinson and Company; Sysmex Corporation; F. Hoffmann-La Roche AG; and Thermo Fisher Scientific, Inc.
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