The most recent study conducted by Report Ocean, titled “Global Meningitis Diagnostic Testing Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Meningitis Diagnostic Testing. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Meningitis Diagnostic Testing Market to reach USD $ billion by 2027.Global Meningitis Diagnostic Testing Market is valued approximately at USD $ billion in 2020 and is anticipated to grow with a healthy growth rate of more than 3.8% over the forecast period 2021-2027. Meningitis is a medical disease in which the membranes that surround a person’s brain and spinal cord become inflamed. Symptoms of swollen meningitis include headaches, fever, and stiffness in the neck. Meningitis can be caused by a variety of causes, including ear infections, skull fractures, and, in rare cases, surgery.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Additionally, germs that enter the circulation and move to the brain and spinal cord, causing acute bacterial meningitis, or bacteria that directly infect the meninges, can cause of meningitis diagnostic. The market is driven by the key factors such as Increased Demand for Advanced Diagnostics for Sensitive Reports and Accurate Diagnosis and Rise in the Global Prevalence of Meningitis.
Furthermore, The rise in worldwide incidence of infectious illnesses and HIV, which is one of the leading causes of meningitis. According to the United Nations Programme on HIV/AIDS (UNAIDS), 24.5 million individuals living with HIV received antiretroviral treatment in 2019. Also, According to WHO, As of April 2021, 24 of the 26 countries in the meningitis belt had launched nationwide or in high-risk areas large preventative programmes targeting 1-29 year olds, and half of them had included this vaccine in their national regular vaccination schedules. The prevalence of serogroup A meningitis has decreased by more than 99 percent among vaccinated populations, with no confirmed cases since 2017. However, Lack of Awareness Regarding of Diagnosis and Availability of Diagnostic Laboratories In Developing Countries, may impede market growth over the forecast period of 2021-2027.
During the projected period, North America is expected to dominate the worldwide meningitis diagnostic testing market. The market in North America is expected to be fueled by a high acceptance rate of advanced diagnostic equipment, a growth in the number of diagnostic facilities, and the accessibility of diagnostic test kits.
Major market player included in this report are:
Seegene Inc.
Abbott Laboratories
Thermo Fisher Scientific Inc.
Bio-Rad Laboratories Inc.
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Siemens Healthineers AG
Becton, Dickinson and Company
ELITechGroup
IMMY
Luminex Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Test Type:
Latex Agglutination Tests
Lateral Flow Assay
PCR Assay
ELISA Tests
Culture Test
Others
By End User:
Hospital
Diagnostic Center
Others
By Region:
North America
U.S.
Canada
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Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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