The fungal testing kits market poised to increase exponentially, surpassing USD 4504 million by 2033, from a predicted market size of USD 1.72 billion in 2023.
The ensuing fungal testing kits market propulsion is due to increased acceptance of point-of-care diagnostics, the emergence of nano sensor detection based kits and fungal identification by molecular tools.
FMI presented a comparative analysis of market growth rates and development possibilities in the global fungal testing equipment market. Device restrictions, illness epidemiology, and the rate of product uptake all have an impact on the market, as do macroeconomic and industrial factors.
The creation of low-cost kits, as well as increased attempts to raise awareness of fungal diseases, is a significant step towards strengthening fungal testing kits industry.
Attributes | Details |
---|---|
Fungal Testing Kits Market HCAGR (From 2018 to 2022) | 8.6% |
Fungal Testing Kits Market CAGR (From 2023 to 2033) | 10.1% |
Fungal Testing Kits Market Size (2022) | USD 1558 million |
Fungal Testing Kits Market Size (2023) | USD 1716.5 million |
Fungal Testing Kits Market Size (2033) | USD 4504.0 million |
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From 2018 to 2022, the fungal testing equipment market grew at a CAGR of 8.6%, reaching USD 1558 million in that year.
One of the few significant gynaecological issues affecting women of reproductive age is the rising occurrence of fungal illnesses such vaginitis. Vaginitis is becoming more common as a result of changing lifestyles, acquiring bad habits including smoking, and unprotected sexual activity.
These elements contribute to the increased demand for fungus testing kits on a global scale, particularly given the slow growth of anti-fungal studies and product development breakthroughs.
The development of fungal testing kits for a variety of illness indications has been fueled by rising regional government financing initiatives for disease diagnosis and medical testing kit development.
Pharmaceutical companies are investing more in research to create novel antifungal diagnostics and treatments, and the key manufacturers are concentrating on teaming up with academic institutions or research institutes to create unique products.
Several potential treatments for fungi infections have also been investigated by researchers, including the use of bacteriophages and antifungal peptides. These methods are currently being developed, albeit they have not yet been successfully incorporated into medical products.
In addition, it is anticipated that the prevalence of fungal diseases, which are brought on by the presence of fungus or mould, may increase.
A significant element that may spur fungal testing equipment market expansion is the commercial availability of enhanced diagnostic testing for fungi illnesses.
Profound Motivators
Healthcare providers and health organizations have launched a numerous awareness campaigns, including online education programs for the general public and medical professionals around the world as well as environmental campaigns, medication maintenance campaigns, and campaigns focusing on specific viral and fungus diseases.
These initiatives promote the use of testing facilities, which is likely to increase revenue for the global fungus test kits market during the course of the projected period.
People now live longer thanks to improvements in diagnostic and treatment costs brought about by changes in healthcare systems in many nations, including the USA and Japan.
In light of the high frequency of viral and fungal illnesses, rising life expectancy is another important driver projected to drive growth in the global fungal test kits market. The elderly population is more prone to fungal diseases or the risk of fungal disease is increased.
The fungal testing equipment market to expand at a significant rate, with a CAGR of close to 10.1%. The aforementioned reasons contribute to the fungus testing kits market sales forecast and add value to the entire healthcare sector.
In comparison to North America and Europe, the fungal testing kits sector is growing rapidly in various Asian countries, including Japan, India, and China. This is mostly owing to the existence of a significant patient (asthmatic) population in these areas, including youngsters and the elderly.
The sector is experiencing opportunistic expansion in the collaborative market space and is participating in the fungal testing kits market, with a greater emphasis on investing in Asia Pacific growing nations.
Due to increased healthcare expenditures and the presence of a big patient pool suffering from various fungal diseases such as candida and IFD, these countries provide a tremendous potential for various healthcare devices.
The development of PCR techniques has enabled scientists to find novel genes, gene expression, and genetic variation in an organism's tissues, allowing them to control the comparative analysis of illnesses and normal tissues, which raises demand for fungal testing kits.
Real-time PCR techniques are commonly utilized in research laboratories to detect the existence of mutant genes or the quantitative level of gene copy number in transformed cell lines.
Focusing on these developing markets is therefore projected to help creators and suppliers of fungal testing kits achieve significant revenue and market share growth. Growing healthcare research and development spending and the adoption of molecular diagnostic testing provide remunerative opportunities for the growth of the fungal test kits market.
In low- and middle-income countries in particular, the low level of social acceptability of infections has resulted in patients seeking care from office-based healthcare facilities that make the claim to be able to treat the condition naturally using conventional drugs.
Sexually transmitted diseases and genital diseases are spread significantly by these societal variables. Unemployment, poverty, and social injustice are a few of the significant, widespread issues that are contributing factors in the fungal testing equipment market.
The treatment of genital disease is hampered by a lack of openness and diversity in sexual communication, and the population of those who are underserved who have STDs grows.
Sexually active women frequently experience vaginitis. In social networks like sex workers, where high-risk health behaviors are predominant, vaginitis disproportionately impacts excluded groups and people who belong to those networks.
Sexually transmitted diseases pose a serious threat to both sex workers and the people they provide services to. Due to this social burden, dishonest practices and claims of expertise in the treatment of genital and sexually transmitted illnesses have increased.
Despite its affordability and accuracy in the diagnosis of viral infections, the limitations of PCR are a crucial factor to take into account. Real-time PCR requires more time to run (2–5 hours) than other procedures, and there is a significant danger of contamination while handling, particularly during the specimen preparation step.
Another downside of immunoassays in the fungal test kits market is the high expense of supplies and equipment, especially in environments with limited resources. This is because automated techniques tend to be more precise and sensitive.
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Segment | Details |
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Top Test Type | Molecular Test |
CAGR % 2017 to 2022 | 6.6% |
CAGR % 2023 to End of Forecast(2033) | 7.5% |
By 2023, molecular testing expects to have a market share of over 31.5% and to have experienced profitable growth at a CAGR of 7.5%. The molecular tests, unlike conventional testing techniques, only identify the chemicals that are indicative of the presence of the organism and do not identify the living organisms linked to the disease indication.
This guarantees accurate pathogen diagnosis and subsequent treatment, supporting the global market expansion for fungal testing kits.
Segment | Details |
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Top End User | Diagnostic Laboratory |
CAGR % 2017 to 2022 | 7.2% |
CAGR % 2023 to End of Forecast(2033) | 7.4% |
The estimation for the fungal test kits market share held by diagnostic laboratories over the predicted period is 42.4%.
The diagnostic laboratories hold a sizeable global market share for fungal testing kits due to the accessibility of mobile test kit units in point-of-care diagnostic settings, and they are anticipated to maintain stable growth throughout the course of the forecast period.
Segment | Details |
---|---|
Segment Share | 36.1% |
Segment CAGR | 12.6% |
With a market share of more than 36.1% in 2023, Skin anticipates a lucrative increase at a CAGR of 12.6% until the conclusion of the projected period. The majority of people who are susceptible to fungal-related illnesses have yeast infections and superficial skin diseases.
Consequently, using a sample of the patient's skin can reveal the type of pathogen causing the ailment and help with therapy, which is what is driving the fungus testing kits market.
Segment | Details |
---|---|
Segment Share | 67.3% |
Segment CAGR | 11% |
Medical Diagnosis anticipates a profitable growth rate of 11.0% until the conclusion of the projected period, with a fungal test kits market share of more than 67.3% in 2023. The precise assessment of disease features in the diagnosis of fungal infections is a crucial part of disease organism elimination or control.
Medical diagnosis and tests are designed to provide precise insights into patients' infections and disorders, as well as accurate identification of the pathogen in question, resulting in better clinical outcomes.
Country | United States |
---|---|
HCAGR (2018 to 2022) | 8.3% |
CAGR (2023 to 2033) | 9.8% |
Country | China |
---|---|
HCAGR (2018 to 2022) | 11.1% |
CAGR (2023 to 2033) | 12.9% |
Country | Canada |
---|---|
HCAGR (2018 to 2022) | 8.0% |
CAGR (2023 to 2033) | 8.4% |
Country | Germany |
---|---|
HCAGR (2018 to 2022) | 9.2% |
CAGR (2023 to 2033) | 12.6% |
Country | United Kingdom |
---|---|
HCAGR (2018 to 2022) | 9.5% |
CAGR (2023 to 2033) | 9.8% |
Attributes | Details |
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United States Market Size (USD million) by End of Forecast Period (2033) | USD 1210.95 million |
United States Market Absolute Dollar Growth (USD million) | USD 51.7 million |
With a CAGR of 9.8%, the United States currently dominates the North American area, and it is anticipated that it may maintain its rapid growth during the forecast period. Due to the high prevalence of infectious diseases and the rapid advancements in diagnostic procedures, the nation has a sizable market share in the North American continent.
Throughout the anticipated time frame, the fungal test kits market to rise at a profitable rate owing to the essential presence of point-of-care diagnostics and education initiatives about infection prevention and control.
Attributes | Details |
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China Market Size (USD million) by End of Forecast Period (2033) | USD 488.22 million |
China Market Absolute Dollar Growth (USD million) | USD 20.7 million |
China is expected to represent 51.3% of the East Asia market in 2023, with a CAGR of 12.9% during the forecast period. The region of East Asia has an edge in terms of sales growth potential of fungal testing kits, attributable to a booming patient pool as well as the consequent expanding healthcare expenditure by the government agencies.
According to a national assessment on fungal infection diagnostic capacity in China, the overall testing capacity for fungal infections in China is limited, posing a significant opportunity for the country's fungal testing kits market to grow throughout the projection period.
Attributes | Details |
---|---|
Canada Market Size (USD million) by End of Forecast Period (2033) | USD 105.55 million |
Canada Market Absolute Dollar Growth (USD million) | USD 4.00 million |
Canadian market is escalating at a robust CAGR of 8.4% from 2023 to 2033 and attaining USD 105.55 million by 2033.
In the North America area, Canada has grown into the second leading force in the fungal testing equipment market after the United States. This is due to the widespread incidence of infectious diseases. As knowledge of numerous fungal infections has grown in this region, the demand for fungal testing kits has increased.
Attributes | Details |
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Germany Market Size (USD million) by End of Forecast Period (2033) | USD 352.17 million |
Germany Market Absolute Dollar Growth (USD million) | USD 12.6 million |
Germany is to experience a CAGR of roughly 12.6% in the European fungal testing kits market over the anticipated period. The established regulatory presence of medical and diagnostic items in the European region positions a higher presence of fungal testing kits in the nation.
A push into the sales of fungus testing kits in the nation has been further begun with the approval of such items and the existence of a CE mark. Furthermore, the region now presents a profitable value in terms of sales in Germany thanks to educational initiatives and awareness efforts.
Attributes | Details |
---|---|
United Kingdom Market Size (USD million) by End of Forecast Period (2033) | USD 250.61 million |
United Kingdom Market Absolute Dollar Growth (USD million) | USD 10.7 million |
The United Kingdom market has the potential to approach USD 250.61 million by 2033, with a CAGR of 19.8% from 2021 to 2031.
In light of the rising prevalence of cancer, rising fungal test kits manufacturers’ actions, and rising government initiatives, the usage of infectious disease diagnostics kits, assays, and other consumables has expanded.
The expanding usage of infectious disease diagnostics kits, tubes, and reagents among major end users, as well as increasing investments by healthcare businesses to meet industry demand, are likely to fuel fungal test kits market expansion.
Attributes | Details |
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India Market CAGR | 14.5% |
Indian Market Share | 54.6% |
In 2023, India held a 54.6% share in the South Asia fungal testing kits market, and is predicted to develop at a CAGR of 14.5% from 2023 to 2033. The pandemic caused a continuous increase in fungal diseases across India.
Medical diagnostic kit sales in the country increased with the help of internationally recognised players such as Abbott. Rising fungal testing kits sales to continue in the country, along with healthcare initiatives to ensure excellent patient outcomes.
In addition to focusing on research and development, leading fungal testing kits manufacturers prioritise the creation of new product lines with novel applications. To maintain their market presence, the leading firms also engage in mergers and acquisitions.
Recent Development
Date | March 2020 |
---|---|
Company | BioMérieux |
Details | The SARS-COV-2 R-GENE® test was developed by BioMérieux. The French Reference Center for Respiratory Infectious Diseases validated this real-time PCR test running on open platforms, showing its remarkable performance. It is manufactured and sold in France, and it is expected to be CE-marked and submitted to the FDA for a EUA (Emergency Use Authorization) soon. BioMérieux is also working on an improved version of their BIOFIRE® FILMARRAY® Respiratory Panel 2, dubbed the BIOFIRE® Respiratory Panel 2.1. (RP2.1). This new panel can include SARS-CoV-2 as well as 21 other prevalent respiratory viruses and can provide results in about 45 minutes. It can also be offered on the platforms FILMARRAY® 2.0 and FILMARRAY® TORCH. |
Date | July 14, 2021 |
---|---|
Company | ELITech Group |
Details | Gonotec GmbH, a medical products company, was bought by ELITech Group. |
The global industry is expected to reach a valuation of USD 1716.5 million in 2023.
the leading players in the Biomed Diagnostics, Inc., Bioquochem and C.P.M. Diagnostic Research SAS are the leading the industry players.
The fungal testing kits industry is likely to reach a valuation of USD 4504.0 million by 2033.
Growing adoption of point-of-care diagnostics will drive industry sales.
The molecular test segment to remain preferred test type through 2033.
1. Executive Summary | Fungal Testing Kits Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Test Type 5.1. Molecular Test 5.2. Chromogenic Test 5.3. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sample Type 6.1. Skin 6.2. Urine 6.3. Vaginal secretions 6.4. Blood 6.5. Cerebral 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Research 7.2. Susceptibility Testing 7.3. Medical Diagnosis 7.4. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 8.1. Diagnostic Laboratory 8.2. Hospitals 8.3. Pharmaceutical Companies 8.4. Research and Academic Institutes 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. South Asia 9.5. East Asia 9.6. Oceania 9.7. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Biomed Diagnostics, Inc. 19.2. Bioquochem 19.3. C.P.M. Diagnostic Research SAS 19.4. ELITech Group 19.5. ADT Biotech 19.6. Cole-Parmer India Pvt. Ltd. 19.7. PerkinElmer 19.8. GenMark Diagnostics, Inc. 19.9. Norgen Biotek 19.10. PCRmax 19.11. Merck KGaA 19.12. Thermofisher Scientific 20. Assumptions & Acronyms Used 21. Research Methodology
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