Rising Prevalence of Tuberculosis to Drive Global Tuberculosis Testing Market at CAGR of 4.3% during 2014-2020: Transparency Market Research

Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has recently published a report on the global tuberculosis testing market. The report, titled "Tuberculosis Testing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020", estimates that the overall market will grow at a CAGR of 4.3% during the period between 2014 and 2020.

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The market was worth US$1,936.1 million in 2013 and is expected to be valued at US$2,619.4 million by the end of 2020.The World Health Organization has recognized tuberculosis (TB) as the second greatest killer worldwide, after HIV/AIDS. In 2013, 1.5 million people died from the disease across the globe. High prevalence of the disease has led to the increased acceptance of various TB testing techniques. Various government and non-government initiatives taken to promote awareness about TB and about the control programs will fuel the demand for various TB tests.

Latent tuberculosis and active tuberculosis are the two most common forms of TB. Over time, the bacteria Mycobacterium tuberculosis, the pathogen responsible for causing tuberculosis, has developed potent and drug-resistant strains such as multi-drug resistant (MDR) and extensively drug-resistant (XDR) tuberculosis. Growing demand for improved TB testing procedures and equipment will push the growth of the global tuberculosis testing market. However, the report cites that the high cost of tuberculosis tests will hamper the overall global demand. According to the WHO, in 2013, the largest number of new TB cases were diagnosed in Africa, Southeast Asia, and the Western Pacific region. The emerging economies in these regions are expected to open new opportunities for the global tuberculosis testing market.

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According to the test type, the global tuberculosis testing market has been segmented into culture-based tests, smear microscopy, Mantoux test, nucleic acid testing, drug susceptibility testing, radiography, and other tests including IGRA and serological tests. In 2013, culture-based TB tests dominated the market and the segment was worth US$691.2 million. Owing to the accuracy and reliability of culture-based TB tests over other tests, the segment is expected to grow consistently during the forecast period. Globally, the tuberculosis testing market has been segmented into Asia Pacific, North America, Europe, and Rest of the World. Due to the presence of a large patient pool along with high occurrence of TB in the region, Asia Pacific accounted for 35% of the market in 2013. In terms of revenue, North America was the second largest market, closely followed by Europe. In Europe, countries such as Spain, Italy, France, and Germany contribute substantially to the tuberculosis testing market.

Some of the key players in the global tuberculosis testing market are Thermo Fisher Scientific Inc., Abbott Laboratories, Becton, Dickinson and Company, F. Hoffmann-La Roche, Ltd., Hologic, Inc., Akonni Biosystems Inc., QIAGEN, and Alere Inc. Hain Lifescience GmbH, F. Hoffmann-La Roche Ltd., Becton, Dickinson and Company, and Thermo Fisher Scientific Inc. are the dominant players in the global tuberculosis testing market.

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