According to the research report titled ‘Global Infectious Diseases in-Vitro Diagnostics (IVD) Market Size study, by Product (Instruments, Reagent, Services), by Technology (Immunoassay, Molecular Diagnostics, Microbiology, Others), by Application (Streptococcus, Clostridium Difficile, Carbapenem-resistant enterobacterial testing (CRE), Respiratory virus, Tuberculosis (TB) & drug-resistant TB, Human Immunodeficiency Virus (HIV), Gonorrhea, Chlamydia, Others), by End-Use (Point of Care, Central Laboratories, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global infectious diseases in-vitro diagnostics market was valued at USD 54 billion in 2019 and is speculated to reach USD 73 billion by 2027, growing at an annual rate of 3.8% between 2020-2027.
 

Increasing incidences of infectious diseases in developing and developed countries, coupled with consumer awareness of speedy diagnostics, and growing government support adoption of advanced diagnostics are leading factors driving global infectious diseases in-vitro diagnostics market growth. Moreover, scientific advancements in this field have enabled the use of these devices in laboratory testing which is proliferating the industry share.
 

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For the unversed, infectious diseases in-vitro diagnostics (IVD) is a group of medical tests which use reagents and assays to detect & treat a medical condition. It is utilized by physicians to gather information which aids them in managing the medical condition effectively at all stages. Moreover, the usage of IVD requires extensive technical knowledge.
 

As per the Avert Organization, in 2018, approximately 37.9 million people were infected by HIV worldwide. Of these, 1.7 million were children. Similarly, according to a survey by US Department of Health & Human Services, nearly 30 million people were suffering from influenza in the U.S. in 2016-2017 and this number increased to 49 million in 2017-2018. Hence, prevalence of transmittable diseases will boost the demand for IVD.
 

On the other hand, high cost of testing is poised to inhibit global infectious diseases in-vitro diagnostics market expansion over the analysis period.
 

Regionally speaking, North America captured majority of worldwide infectious diseases in-vitro diagnostics industry share in the past year, due to presence of key companies in the region, alongside growing demand for molecular diagnostics and point-of-care diagnostic devices.
 

Meanwhile, Asia Pacific market is projected to expand rapidly between 2020-2027, owing to increasing incidences of infectious diseases, and improving healthcare infrastructure in emerging economies like India and China.
 

Key players profiled in the report are bioMérieux SA, Becton Dickinson and Company (BD), Abbott Laboratories, OraSure Technologies Inc., Quidel Corporation, Qiagen N.V., Hologic Inc., F. Hoffmann-La Roche AG, Siemens Healthineers AG, and Bio-Rad Laboratories Inc.