Meningitis Diagnostic Testing Market Is Expected To Reach USD 154.06 Million By 2030

 San Francisco, 5 July 2023: The Report Meningitis Diagnostic Testing Market Size, Share & Trends Analysis Report By Test Type (Latex Agglutination Tests, Lateral Flow Assay, PCR Assay, ELISA Tests, Culture Test), By End-user, By Region, And Segment Forecasts, 2023 - 2030

The global meningitis diagnostic testing market size is expected to reach USD 154.06 million by 2030, according to a new report by Grand View Research, Inc, registering a CAGR of 3.68% over the forecast period. The growth of the market is accredited to the rising awareness among the people about early disease diagnosis and increasing demand for rapid diagnosis coupled with the high accuracy of the test. Moreover, the increasing government support to reduce the burden of disease and the rising number of diagnostic centers are other factors fueling market demand.

The increasing prevalence of infectious diseases, and HIV is increasing the risk of developing meningitis, which is increasing the demand for meningitis diagnostic tests, worldwide. For instance, according to the WHO, over 38.4 million people were living with HIV worldwide in 2021. In addition, according to CDC in 2020, around 30,635 people received HIV diagnoses in the U.S. High number of HIV infections may increase the testing rate for meningitis. Moreover, EV meningitis is estimated to result in around 30,000-50,000 hospitalizations every year in the U.S.

Thus, such a high incidence of target diseases is pushing manufacturers to develop precise diagnostic solutions. For instance, Cepheid offered Xpert EV, a fast molecular in vitro diagnostic EV test, which provides results in 2.5 hours with optimum sensitivity and specificity. Similarly, M-DiaMult of Diagenode Diagnostics is a type of PCR- CE-IVD kit that detects many bacterial infections including Neisseria meningitidis.

Meningitis infection has emerged as a global issue owing to its long-term consequences and high mortality rate. The government is offering active support to provide sophisticated diagnostic tests and treatment regimens to eradicate the disease. For instance, the Meningitis Research Foundation and the CDC offer referral diagnoses for different infectious diseases such as tuberculosis, malaria, and meningitis among others that are not available in hospitals. Thus, such government initiatives to promote the diagnosis of various infectious diseases are likely to offer lucrative growth opportunities for the market.

Furthermore, the surge in the healthcare sector developments and growing technological advancements in diagnostic tests are likely to offer robust growth opportunities for the market. For instance, in July 2022, Abacus Diagnostica, a leader in molecular diagnostic testing, launched a novel rapid PCR test in Europe markets for the quick identification of viruses causing encephalitis and meningitis. This newly launched test allows healthcare professionals to identify the most common virus those causes meningitis in a span of 70 minutes. The introduction of rapid tests with high accuracy is anticipated to propel the market growth in the coming years.

Access Research Report of Meningitis Diagnostic Testing Market @ https://www.grandviewresearch.com/industry-analysis/meningitis-diagnostic-testing-market-report

Meningitis Diagnostic Testing Market Report Highlights

• PCR assay segment held the largest market share in 2022 owing to a high preference for PCR tests and higher sensitivity and lower turnaround times of the test
• Lateral flow assay is expected to be the fastest segment during the coming years due to the increasing adoption of rapid tests at different healthcare facilities
• Hospitals segment was the leading revenue contributor during the base year and its high revenue is attributed to increasing access to novel diagnostic technologies and improved healthcare coverage
• The diagnostic centers segment is anticipated to exhibit the fastest growth rate owing to the surge in the burden of infectious diseases and the increasing adoption of technologically advanced products
• Asia Pacific is expected to exhibit the fastest growth over the forecast period due to rising investments in the region and ongoing trials in the region

Meningitis Diagnostic Testing Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 120.00 million
Revenue forecast in 2030	USD 154.06 million
Growth rate	CAGR of 3.68% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

Key Players in the Meningitis Diagnostic Testing Market

• Thermo Fisher Scientific, Inc.
• Bio-Rad Laboratories, Inc.
• Abbott
• ELITechGroup
• Seegene Inc.
• Luminex Corporation
• CERTEST BIOTEC
• IMMY
• Uniogen Oy

Access Press Release of Meningitis Diagnostic Testing Market @ https://www.grandviewresearch.com/press-release/global-meningitis-diagnostic-testing-market