The key players operating in the enteric disease testing market are Trinity Biotech plc, Biomerica, Inc., Bio-Rad Laboratories, Inc., Alere Inc., Biomerieux SA, Meridian Bioscience Inc., CorisBioconcept SPRL, Quest Diagnostics Incorporated, Cepheid Inc., and DiaSorin. The global enteric disease testing market is fragmented due to the presence of many small-scale vendors operating in regional markets. However, the global market is dominated by a few major players operating globally. Mergers and acquisitions in order to expand the geographical footprint are likely to remain a popular competitive tactic for players in the global enteric disease testing market in the coming years.
According to Transparency Market Research, the global enteric disease testing market was valued at US$3.7 bn in 2017 and is likely to rise to more than US$4.9 bn by 2025. The market is expected to exhibit a steady 3.6% CAGR therein.
Geographically, the global enteric disease testing market is dominated by North America and Europe, which collectively accounted for a majority share in the market in 2017. The Europe market is likely to retain the lead in enteric disease testing in the coming years, with North America following closely behind. Despite the slow expected CAGR of the Asia Pacific enteric disease testing market, the region could witness significant growth of the market due to the high population in the region and the vast unmet demand for medical facilities. By pathogen type, bacterial infections led to significant demand from the global enteric disease testing market and are likely to remain the key segment in the forecast period.
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Rising Availability of Advanced Testing Drives Enteric Disease Testing Market in Developed Countries
Enteric disease testing has undergone steady advancement in the last few years due to steady adoption of technological advancements, particularly in developed countries. Enteric diseases represent a growing health threat due to their growing prevalence and the increasing healthcare expenditure necessitated by the same.
The diverse array of pathogens responsible for numerous enteric diseases have been studied in detail in recent years due to the growing availability of microscopic examination facilities. Molecular diagnostic testing has become a key part of the enteric disease testing market in recent years and is likely to remain a strong contributor. The strong pharmaceuticals industry in developed regions such as North America and Europe has thus aided the enteric disease testing market in developed countries and is likely to remain a key driver for the market in the coming years.
Traveling to relatively underdeveloped regions such as Central and South America, Africa, and Southeast Asia has become a major trend in developed regions. This has also contributed to the rising prevalence of enteric diseases in North America and Europe, as developing countries tend to lack the hygiene standards observed in developed regions. The growing support to the tourism sector in these countries is likely to boost the number of tourists from developed regions, which is likely to drive the global enteric disease testing market in the coming years.
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Vast Scope in Asia Pacific Market Undercut by Lack of Infrastructure
The lack of medical research infrastructure in populous developing regions such as Asia Pacific has held the enteric disease testing market back. The high prevalence of enteric diseases in highly populous economies such as China and India is likely to drive the market at a steady rate in the coming years, but Asia Pacific is likely to lag behind developed Western markets due to the lack of awareness about various enteric diseases and the consequent lack of healthcare infrastructure.