01 Apr 2019
Posted in Press Release
Mycobacterium Tuberculosis Tests global market will decline from $602.4m in 2017 to $584.4m by 2028, says GlobalData
The global Mycobacterium Tuberculosis Tests market is expected to decline from $602.4m to $584.4m between 2018 and 2028, at a Compound Annual Growth Rate (CAGR) of -0.3%, according to GlobalData, a leading data and analytics company.
The company’s latest report, ‘Mycobacterium tuberculosis Diagnostic Tests – In Vitro Diagnostics Market Analysis and Forecast Model’, reveals that the volume tests sold worldwide for Mycobacterium tuberculosis (TB) is expected to increase at a CAGR of 0.32%, between 2018 and 2028. However, the impact of these increased sales on overall market value is expected to be outweighed by competitive pricing pressures and declines in device average selling price.
Despite declining disease incidence, growth in the number of TB test sales is expected to be driven by a number of factors including strong screening initiatives, high disease awareness, and increases in population size.
Atif Nawaz, Medical Devices Analyst at GlobalData comments, “Until recently, sputum smears, chest radiography and tuberculosis skin tests were mainstays in diagnosis of TB. However there is a shift towards more complex and expensive tests such as nucleic acid amplifications tests (NAAT) and interferon gamma release assay (IGRA), which in turn mitigates misdiagnoses of active TB cases. As newer and innovative advanced tests are implemented globally, the burden of TB will decrease over time. NAAT and IGRA tests also remove health practitioner bias and provide accurate results while decreasing misdiagnoses.”
There is ample opportunity within the space to create a new mode of testing with increased specificity and sensitivity. Newer confirmatory tests with increased sensitivity and decreased time for diagnosis are the two primary needs from patients and physicians.
Nawaz concludes, “Another need is for point-of-care tests within high burden settings to be able to detect TB and latent tuberculosis infection (LTBI). This is important as LTBI cases increase the chance of outbreaks which inhibits the complete eradication of TB.”
Information based on GlobalData’s report: Mycobacterium tuberculosis Diagnostic Tests – In Vitro Diagnostics Market Analysis and Forecast Model