Sepsis Diagnostics Market Worth $890 million | MarketsandMarkets™.

CHICAGO, April 8, 2024 /PRNewswire/ -- Sepsis Diagnostics Market in terms of revenue was estimated to be worth $634 million in 2024 and is poised to reach $890 million by 2029, growing at a CAGR of 7.0% from 2024 to 2029 according to a new report by MarketsandMarkets™.

Factors such the commercialization and availability of a wide variety of approved sepsis diagnostic devices, rising prevalence of sepsis, incidence of hospital-acquired infections, growing number of surgical procedures and increasing geriatric population are high growth prospects for the sepsis diagnostics market during the forecast period.

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Sepsis Diagnostics Market Scope:

The molecular diagnostics segment is to register a significant growth rate over the forecast period of 2024-2029.

Based on the technology, over the forecast period of 2024-2029, the molecular diagnostics segment is to register a significant growth rate. The sepsis diagnostics product market is segmented into blood culture, immunoassays, molecular diagnostics, flow cytometry, microfluidics, and biomarkers. The molecular diagnostics segment comprises PCR, microarray, peptide nucleic acid fluorescent in situ hybridization and DNA sequencing. The key factors encouraging the growth of mesh segment during the forecast period are the the growing need for early disease diagnosis and various advantages offered by this technique as compared others.

The hospitals & speciality clinics segment accounted for the largest share of sepsis diagnostics market in 2024-2029.

Based on end user, the hospitals & speciality clinics segment is estimated to hold the largest market share of the sepsis diagnostics market during the forecast period. Increasing number of patients hospitalized with sepsis, in-house hospital laboratories perform a large number of blood culture tests to identify the blood stream infections (BSIs caused by bacteria, fungi/yeast, or viruses) and high prevalence of sepsis coupled with a large number of fatalities caused by the illness lead to a large share of the segment.

Asia Pacific registered the highest CAGR in the market during the forecast period.

In 2024, Asia Pacific is expected to register the highest CAGR in the market for sepsis diagnostics during the forecast period. Asia Pacific comprises China, India, South Korea, Taiwan, and Singapore, and the rest of Asia Pacific. Factors such as the growing adoption of advanced treatment options, presence of a large target patient population and improving diagnosis and treatment rates are driving the growth of the APAC sepsis diagnostics market during the forecast period.

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Sepsis Diagnostics Market Dynamics:

Drivers: 

1. Increasing hospital-acquired infection incidences

Restraints:

1. High costs of automated diagnostic devices

Opportunities:

1. Rapid diagnostic/POC techniques development for early sepsis diagnosis

Challenge:

1. Dearth of skilled healthcare professionals

Key Market Players of Sepsis Diagnostics Industry:

As of 2023, prominent players in sepsis diagnostics are bioMérieux (France), Becton Dickinson Company (US), Danaher Corporation (US), Abbott Laboratories (US), and Roche Diagnostics (Switzerland). Other players include T2 Biosystems (US), Thermo Fisher Scientific (US), Bruker (US), EKF Diagnostics (UK), Immunexpress (Australia), among others.

A breakdown of the primary participants referred to for this report is provided below:

• By Company Type: Tier 1– 25%, Tier 2– 30%, and Tier 3– 45%
• By Designation: C-level– 26%, Directors– 30%, and Others– 44%
• By Region: North America– 40%, Europe– 31%, Asia Pacific– 20%, Latin America- 6%, MEA- 3%

Recent Developments of Sepsis Diagnostics Industry:

• In April 2023, BioMérieux launched BIOFIRE FIREWORKS, an integrated software solution for BIOFIRE Systems optimizing laboratory services and supporting data-driven decisions.
• In May 2023, Sysmex Corporation launched clinical flow cytometry system Flow Cytometer XF-1600, Sample Preparation System PS-10, antibody reagents, and other related products in Japan.
• In June 2023, T2 Biosystems collaborated with Vanderbilt University Medical Center to implement and evaluate the T2Bacteria Panel for clinical use.

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Sepsis Diagnostics Market - Key Benefits of Buying the Report:

The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.

This report provides insights on the following pointers:

• Analysis of key drivers (High incidence of sepsis, Rising incidence of hospital-acquired infections (HAIs), Growing funding for sepsis-related research), restraints (High cost of automated diagnostic devices), opportunities (Development of rapid diagnostic/POC techniques for early sepsis diagnosis, Evolution of novel biomarkers for sepsis diagnosis, Growth Opportunities in emerging  economies), and challenges (Lack of awareness and limited protocols for sepsis diagnosis, Shortage of skilled healthcare professionals) influencing the growth of the sepsis diagnostics market
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the sepsis diagnostics market
• Service Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and service developments in the sepsis diagnostics market
• Market Development: Comprehensive information on lucrative emerging regions
• Market Diversification: Exhaustive information about new services, growing geographies, and recent developments in the sepsis diagnostics market
• Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and services of the leading market players.

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