Global meningitis diagnosis and treatment market size is anticipated to amass more than USD 157.8 million by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
Meningitis is the swelling of meninges. Meningitis impacts the meninges, which are the membranes covering the brain and spinal cord that safeguard the central nervous system and cerebrospinal fluid. The causes of meningitis are virus, fungus, and bacteria. The most common form of meningitis is bacterial infection. The bacteria causing bacterial meningitis include Streptococcus pneumoniae and Group B Streptococcus. Apart from this, other sorts of meningitis are viral, non-infectious meningitis, parasitic, and fungal. However, the deadliest form of meningitis is the bacterial type and is considered as highly life-threatening ailment.
Other causes of meningitis are tuberculosis, HIV, and certain diseases. As per the WHO, Human Immunodeficiency Virus is the chief infectious illness. As per the same reports, approximately 36.7 Mn individuals across the world were living with Human Immunodeficiency Virus in the year 2017. The report cites that such high incidence rate of communicable diseases is anticipated to drive the demand for diagnostic testing. Reportedly, meningitis diagnostic test is performed on human samples in a bid to diagnose meningitis and/or prevent meningitis and control medication therapies.
The surging investment in research and development for accurate diagnosis and treatment of critical illnesses and growing incidences of meningitis are the prime factors projected to boost market growth. In addition to this, development of newfangled technologies and equipment, as well as the constant growth of medical devices vertical, are the other factors propelling industry growth. However, stringent regulatory landscape and the dearth of awareness about the diagnosis and treatment of the disease are projected to hinder market growth.
According to the report, the market is bifurcated based on geographic distribution, end user, type, and diagnostic test. Depending on the type, the market is segmented into fungal, viral, and bacterial. Diagnostic tests market is segmented into Lateral Flow Assay, PCR Assay, Latex Agglutination Tests, Culture Test, and ELISA Tests. In terms of the end user, the market is further divided as diagnostic centers, hospitals, and others.
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Key highlights of the meningitis diagnosis and treatment market are listed below:
- The bacterial type led the global market with regards to revenue in the year 2017.
- Speaking of regional bifurcation, Asia-Pacific is anticipated to be the quickest growing revenue contributor to the global market in the year 2017.
- The North American market garnered the highest revenue in 2017 and is predicted to be the leading regional contributor worldwide during the estimated period.
As per the report, the presence of hi-tech devices as well as enormous adoption of such diagnosis devices, and the surging investment on early disease diagnosis are the key factors accounting for the astounding contribution of the North America market segment.
The Asia Pacific is projected to be the fastest growing regional segment in terms of earnings. The high incidence rate of meningitis accompanied by growing focus on early disease diagnosis and treatment offers an array of growth opportunities to the market in the APAC region.
The leading players profiled in the meningitis diagnosis and treatment market include Abbott Laboratories, ELITechGroup, Qnostics, Seegene Inc., Nanosphere (Luminex Corporation), IMMY, BioFire Diagnostics, IMMY, Bio-Rad Laboratories, Inc., Siemens Healthineers, Fast Track Diagnostics Ltd. (FTD), and Thermo Fisher Scientific, Inc. These organizations invest significant resources aimed at launching new products, strategic collaborations, and regional expansion to leverage new growth opportunities in the market.