PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454107
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454107
Sepsis Diagnostics Market size was valued at USD 1,117.04 Million in 2023, expanding at a CAGR of 8.5% from 2024 to 2032.
Severe organ failure, tissue damage, and inflammation can arise from sepsis, an overreaction of the immune system to an infection. When the immune system fights itself instead of battling the invaders, it can lead to a potentially dangerous illness called sepsis. Every year, almost one-third of individuals suffering from sepsis pass away. It is challenging to identify sepsis since there are no particular symptoms or indicators that are entirely associated with the illness. When a patient exhibits signs of several illnesses or associated conditions, specialists doubt sepsis.
Sepsis Diagnostics Market- Market Dynamics
Increasing prevalence of sepsis to propel market demand
More sepsis patients are being identified early on, which improves the chances of rapid management and suitable therapy and encourages work on improving outcomes. As controlling sepsis mostly depends on early identification, effective diagnostic methods are crucial. Accurate and practical diagnostic methods to identify sepsis are becoming more and more common as the number of occurrences of the illness increases. Sepsis diagnostic tools are more likely to be used by medical practitioners to expeditiously confirm and treat instances. As the occurrence of sepsis increases, there is an increasing need for diagnostic solutions in a variety of healthcare settings, such as hospitals, clinics, and diagnostic laboratories. Sepsis diagnostics' wider use promotes market growth.
Sepsis Diagnostics Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.5% over the forecast period (2024-2032)
Based on technology segmentation, the Microbiology segment is expected to hold the largest market share over the forecast period
Based on usability segmentation, the Laboratory Testing segment is expected to dominate the market over the forecast period
Based on region, North America was the leading revenue generator in 2023
The Global Sepsis Diagnostics Market is segmented based on Technology, Method, Product, Usability, Pathogen, and Region.
Based on the technology, the market is segmented into Immunoassays, Molecular Diagnostics, Microbiology and Flow Cytometry. The Microbiology segment is expected to hold the largest market share over the forecast period. The main and most effective technique for identifying organisms that cause infectious diseases in lab settings is microbial culture. Thereby, driving the segment growth.
Based on the usability, the industry is bifurcated into Laboratory Testing and Point-of-care Testing. The Laboratory Testing segment is expected to dominate the market over the forecast period. Improvements in laboratory testing have enabled a quicker and more accurate diagnosis of sepsis, improving patient outcomes. These tests detect whether an infection is present in the body by using biomarkers like procalcitonin or cytokines. Sepsis can be identified and treated sooner because of the tests' sensitivity and ability to produce findings in a matter of hours. As a result, these elements would support the creation of more individualized and successful diagnostic techniques.
Sepsis Diagnostics Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to hold the largest market share over the forecast period. The need for innovative diagnostic methods is predicted to increase due to the high prevalence of infectious illnesses and sepsis. The region has seen several advancements that have fueled market expansion. For instance, Cytovale announced in January 2023 that the FDA had authorized the company's IntelliSep Sepsis Test for the early diagnosis of sepsis. Thus, this is expected to drive the sepsis diagnostics market in the region.
Several major businesses are implementing some strategic efforts to improve their market position and provide a wide range of services to customers. To boost market presence and revenue and obtain a competitive edge, organizations frequently engage in partnerships and agreements, joint ventures, service launches, and other tactics that fuel market growth.
In August 2023, after receiving FDA 510(k) approval in December 2022, Cytovale, a medical diagnostics firm focusing on developing early detection technologies to diagnose immune-mediated and quickly progressing illnesses, announced the commercial launch of the IntelliSep sepsis test in the United States.
GLOBAL SEPSIS DIAGNOSTICS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Thermo Fisher Scientific, Inc.
bioMerieux SA
BD
Danaher Corporation (Beckman Coulter, Inc.)
F. Hoffmann-La Roche AG
Luminex Corp.
Cepheid
Koninklijke Philips N.V.
Bruker
Immunexpress, Inc.