Global Tuberculosis Testing Market: Overview
Tuberculosis testing can be defined as the most commonly used diagnostic tools for the tuberculosis. Tuberculosis is defined as an infectious disease which characterized by development of tubercles (nodules) in the body tissues, especially in the lungs. The market is anticipated to grow at a significant rate owing to various factors such as high return on investments, first-mover advantage to the tuberculosis test kits manufacturers, growing focus on awareness programs by the governmental and non-governmental organizations, and tax credits and fee waivers offered by the government, among others.
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The research is a combination of primary and secondary research, conducted for understanding and arriving at trends, used to forecast the expected revenue of tests employed in the diagnosis of tuberculosis in the near future. Primary research formed the bulk of our research efforts with information collected from in-depth interviews and discussions with a number of key industry experts and opinion leaders. Secondary research involved study of company websites, annual reports, press releases, investor presentations, analyst presentation and various international and national databases. The report provides estimated market size in terms of US$ Mn for test type, end-user, and geography for the period 2015 to 2025, considering the macro and micro environmental factors. The revenue generated from each test type, and end-user was calculated by considering the prevalence of tuberculosis, testing approvals, regulatory procedures, and the awareness of tuberculosis across all the geographies.
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Asia Pacific Emerging as Leading Market for Tuberculosis Testing
As per a report by Transparency Market Research, the global tuberculosis testing market is anticipated to be worth US$3.18 bn by 2025, expanding at a mere 3.9% CAGR between 2017 and 2025. By geography, the market is led by Asia Pacific, which is estimated to expand at a 4.9% CAGR from 2017 to 2025. On the basis of type, the market is led by the culture based tests is leading and is likely to continue to do so throughout the forecast period on account of the ability to accurately diagnose and confirm active tuberculosis.
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Hospital Laboratories and Physician’s Office Laboratories Generating High Demands for Tuberculosis Testing
On the basis of end users, the market generates maximum revenues from the hospital laboratories market. The cost effective tests offered by hospital laboratories is the reason behind the leading status of this segment. The physician’s office laboratories segment is also a key end user segment.
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