The global Neglected Tropical Diseases Diagnosis market is expected to reach $7.6 Billion by 2025. The market is driven by factors such as huge attention paid to by healthcare organizations; which, in turn, acts as a booster for funding R&D and treatment. Healthcare facilities, immediate medical attention, and highly skilled medical professionals are expected to contribute to the global market growth. The Neglected Tropical Diseases Diagnosis market is expected to grow at a CAGR of 4.1% in the forthcoming period.
The market witnesses several opportunities in form of rise in number of NGOs, increasing R&D activities, and availability of large patient pool. However, restraints such as low medical attention, non-availability of medicines and resources, and dearth of medical professionals in extreme regions are likely to create hindrance in the Neglected Tropical Diseases Diagnosis market upto 2025.
Worms, bacteria, viruses cause neglected Tropical Diseases (NTDs) and parasites and are known to affect one-third of world population ultimately leading to poor health, poverty, and permanent disability. One of the significant ways followed by manufacturers dealing with such diseases is to define essential features of the disease to create a subsequent antidote. Some of the common examples of NTDs are malaria, dengue, chijungunya, yaws, and African Trypanosomiasis. The market is quadfurcated into disease, diagnostic method, service type, and geography. Geographical segmentation of Neglected Tropical Diseases Diagnosis market spans North America, South America, Europe, Asia-Pacific, Middle East and Africa.
South American market is expected to grow at a rapid pace in the forthcoming period due to reasons such as favorable opportunities and increasing awareness among the population. Rise in R&D activities and ways to deal with NTDs is likely to create favorable market conditions in the APAC sector. Tropical regions such as Africa account for a higher growth in the forecast period due to growing tribal population, moderate healthcare infrastructure, and uncontrolled birth rates. Other reasons such as lack of social hygiene, delay of medical attention, animal bite, and extreme climate is likely to contribute to the African Neglected Tropical Diseases Diagnosis market. However, medical NGOs and activists are trying ways to tackle medical problems in Africa; subsequently boosting the health awareness against NTDs among the population.
North American Neglected Tropical Disease Diagnosis market is likely to gain a moderate CAGR in the forecast period due to advanced medical infrastructure, improved health conditions, and favorable reimbursement. APAC sector is likely to gain a highly moderate CAGR owing to imbalanced health conditions caused by underlying healthcare facilities in various regions. India, Vietnam, South Korea, and China are likely to gain a popular share owing to rise in number of medical NGOs to solve NTD issues, also rise in healthcare infrastructure and medical attention are some factors that nourish the Neglected Tropical Diseases Diagnosis Industry growth.
The key players in the Neglected Tropical Diseases Diagnosis Industry include Thermo Fisher Scientific Inc, ZeptoMetrix Inc, InBios International Inc, Genome Diagnostics Pvt Ltd, Coris Bioconcept SPRL, Omega Diagnostics Group PLC, DiaSys Diagnostic Systems GmbH and Oscar Medicare Pvt Ltd. The market players are following strategic initiatives such as mergers and acquisitions, new product development and collaborations for development.
Neglected Tropical Diseases Diagnosis Disease Outlook (Revenue, USD Million, 2014 - 2025)
• Buruli Ulcer
• Lymphatic Filariasis
• Foodborne Trematodiases
• Chagas Disease (American Trypanosomiasis)
• African Trypanosomiasis
• Soil-transmitted Helminth Infections
• Scabies and Other Ectoparasites
• Snakebite Envenoming
Neglected Tropical Diseases Diagnosis Diagnostic Method Outlook (Revenue, USD Million, 2014 - 2025)
• Conventional Method
• Molecular/Modern Method
Neglected Tropical Diseases Diagnosis Service Type Outlook (Revenue, USD Million, 2014 - 2025)
• Centralized Service
• POC Service
Neglected Tropical Diseases Diagnosis End-use Outlook (Revenue, USD Million, 2014 - 2025)
• Clinical Labs
• Hospitals /Clinics
• Home Healthcare
Neglected Tropical Diseases Diagnosis Regional Outlook (Revenue, USD Million, 2014 - 2025)
• Asia Pacific
• Latin America
• Middle East & Africa
• North America
Research Support Specialist, USA