Latent TB Detection Market projected to reach US$ 1,684.86 million by 2027

December 06 18:12 2021
Latent TB Detection Market to Grow at a CAGR of 5.2% to reach US$ 1,684.86 million from 2020 to 2027

According to The insight Partners new market research study on “Latent TB Detection Market to 2027 – COVID-19 Impact and Global Analysis – by Test and End User,” the market is expected to reach US$ 1,684.86 million in 2027 from US$ 1,131.82 million in 2019. The market is estimated to grow with a CAGR of 5.2% from 2020-2027. The growth of the market is attributed to the increasing prevalence of tuberculosis and government initiatives to promote tuberculosis detection. However, multidrug resistant tuberculosis (MDR-TB) is likely to hamper the growth of the market to a certain extent.

Strategic Insights:

Report Coverage             

(Details)

Market Size Value in      

(US$ 1,131.82 million in 2019)

Market Size Value by    

(US$ 1,684.86 million in 2027)

Growth Rate     

(CAGR of 5.2% from 2020-2027)

Forecast Period

(2020-2027)

Base Year           

(2020)

No. of Pages     

(137)

No. Tables          

(65)

No. of Charts & Figures

(55)

Segments covered         

(By Test; End User and Geograpy)

Regional scope 

(North America; Europe; Asia Pacific; Latin America; MEA)

Country scope  

(US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina)

Report coverage             

(Revenue forecast, company ranking, competitive landscape, growth factors, and trends)

Get Sample PDF Copy of Latent TB Detection Market at: https://www.theinsightpartners.com/sample/TIPRE00014239/

The growth of the market is attributed to the increasing prevalence of tuberculosis and government initiatives to promote tuberculosis detection. However, multidrug resistant tuberculosis (MDR-TB) is likely to hamper the growth of the Latent TB Detection market to a certain extent.

Government Initiatives to Promote Tuberculosis Detection

The disease disproportionally affects the poor, vulnerable, undernourished, and marginalized people worldwide. Evidence from various sources such as World Health Organization (WHO) and the United Nations (UN) shows that countries such as India and Indonesia in Asia Pacific are highly populated with patients suffering from TB. Thus, the government bodies in these countries are undertaking and adopting certain schemes and initiatives in containing the disease. For instance, the Indian National Strategic Plan (NSP) that aims for TB elimination has been established from 2017 to 2025; it institutes several patient support groups and protection measures along with the provision of free TB diagnostic tests and treatment for Indians. Furthermore, in March 2018, the Government of India, in association with the Directorate of General Health Services, introduced a new scheme known as “Nikshay Poshak Yojna” that included the provision of nutritional support for patients suffering with TB in India. Similarly, another scheme known as Direct Benefit Transfer (DBT) has been introduced for patients suffering from TB. This policy involves direct transfer of cash to the victim’s account intended for TB diagnostic tests, treatments, and medication costs.

Furthermore, western countries such as the US, the UK, and Canada are giving significant importance in combating TB by undertaking various funding programs. The US government is the largest donor of the Global Fund to fight AIDS, tuberculosis, and malaria. The US funding for global TB efforts was reported to be US$ 321 million in 2020. Thus, the financial and medical assistance from the governments for fighting the disease and promoting the diagnosis of TB is providing a lucrative scenario for the growth of the market.

The COVID-19 pandemic was first reported in December 2019 in Wuhan (China). The COVID-19 pandemic has threatened the national TB programs worldwide. The WHO have also notified that pandemic is threatening to reverse global progress against tuberculosis. The COVID-19 response has affected multiple sectors of public health, recommended preventive screening, and clinical care around the globe.

Download the Latest COVID-19 Analysis on Latent TB Detection Market Growth Research Report at: https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00014239

Based on test, the latent TB detection market was segmented into Tuberculin Skin Test (TST) and Interferon Gamma Released Assay (IGRA). In 2019, the Interferon Gamma Released Assay (IGRA) segment accounted for the highest share in the market and is likely to retain its dominant share.

Based on end user, the latent TB detection market is segmented into hospitals, diagnostic centers, laboratory and others. The hospitals segment held the largest share of the market in 2019. Moreover, the same segment is estimated to register the highest CAGR in the market during the forecast period.

Latent TB Detection Market: Competitive Landscape and Key Developments

QIAGEN, BioMeriux S.A., F. Hoffmann La-Roche Ltd., BD, ARKRAY, Inc., Abbott, Serum Institute of India Pvt. Ltd, Oxford Immunotec Ltd, Lionex GmbH are among the leading companies in the latent TB detection market.

Order a Copy of Latent TB Detection Market Shares, Strategies and Forecasts 2020-2027 Research Report at: https://www.theinsightpartners.com/buy/TIPRE00014239/

 

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