DUBLIN–(BUSINESS WIRE)–The “Sepsis Diagnostics Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product, Technology, Method, Test Type, Pathogen, and End User” report has been added to ResearchAndMarkets.com’s offering.
The global sepsis diagnostics market is projected to reach US$ 1,226.52 million by 2028 from US$ 661.83 million in 2021; it is expected to grow at a CAGR of 9.2% from 2021 to 2028.
Factors such as the rising incidence of sepsis due to increasing nosocomial infections and growing demand for rapid diagnostic tests leading to increasing product launches drive the overall growth of the sepsis diagnostics market. However, the lack of skilled professionals hampers the sepsis diagnostics market growth.
Sepsis is the body’s extreme response to an infection. Sepsis is a serious clinical condition that can be a result of other infections, including viral infections, such as COVID-19 or influenza. It is a life-threatening medical emergency. Early detection and specific clinical intervention are crucial for improving the outcome of patients suffering from sepsis. Sepsis caused by bacteria involves cascade of reactions, such as lack of oxygen supply to cells and inactivation of immune complexes involved in the clearance of bacteria and its particles, which progresses to multiple organ failure.
Sepsis is considered as a three staged syndrome by many physicians that starts with sepsis, leading to severe sepsis, and results in septic shock, which is considered as a medical emergency. Sepsis has a high mortality and morbidity rate. Sepsis diagnostics is the study of diagnosis of sepsis, which is a serious clinical condition that generally results from primary bacterial infection or, less frequently, from a fungal and/or viral infection. According to an article published by the National Center for Biotechnology Information in February 2019, the mortality rate of sepsis is 25 % to 30 %.
Most of the diagnostic tests for sepsis are time-consuming and take up to 72 hours to provide results. In the era of molecular diagnosis for every kind of disease, the demand for rapid diagnostic tests for sepsis is rising. As a result, many key players operating in the industry put efforts into developing innovative rapid diagnostic tests for sepsis. For instance, in September 2020, Barcelona-based Loop Diagnostics launched a point-of-care diagnosis platform. The platform replaces the traditional methods of blood culture analysis and provide rapid results. Also, it can identify bacterial infections via blood-based markers and provide test results in two hours with a 99% accuracy rate. Additionally, in May 2020, Beckman Coulter launched its new DxH 690T hematology analyzer with early sepsis indicators in the US.
Moreover, the key players developed cost-effective diagnostic tests to overcome all the challenges associated with sepsis diagnosis. For instance, Inflammatix, a pioneering molecular diagnostics company, published a health economic model that shows the use of the company’s HostDxTM Sepsis test is cost-effective as compare to standard methods. The test was performed on patients suspected of acute respiratory tract infections (ARTI) in Emergency Departments. The study was published in April 2020 in The Journal of Health Economics and Outcomes Research. The model informed hospital clinicians of the potential clinical and economic benefits of widespread adoption of the HostDx Sepsis test.
Furthermore, the rising need for rapid diagnostics for sepsis fueled the research activities among key players in recent years. Both the existing players and the start-ups in sepsis diagnostics are well supported financially by government and research organizations. For instance, in April 2020, Cytovale Inc. partnered with the Biomedical Advanced Research and Development Authority (BARDA) for sepsis diagnosis in patients with respiratory infections, including COVID-19. The research was estimated to stand at US$ 5.9 million, with a contribution of approximately US$ 3.83 million by BARDA. Thus, the launch of effective treatments and ongoing clinical trials would provide lucrative opportunities for the sepsis diagnostics market during the forecast period.
Market Dynamics
Drivers
- High Incidence of Sepsis due to Increasing Nosocomial Infections
- Rise in Demand for Rapid Diagnostic Tests Leading to Increasing Product Launches
Restraints
- Lack of Skilled Professionals
Opportunities
- Increase in Funding and Support for Sepsis Diagnostics Research
Future Trends
- Rising Technological Advancements in Sepsis Diagnosis
Companies Mentioned
- Abbott
- F. Hoffmann-La Roche Ltd.
- Immunexpress Inc.
- BD
- Danaher
- Luminex Corporation
- Thermo Fisher Scientific Inc.
- bioMerieux SA.
- T2 Biosystems, Inc.
- Axis-Shield Diagnostics Ltd.
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