Global Candida Infection Testing Market Set For 6.3% Growth, Reaching $20.05 Billion By 2028
Candida Infection Testing Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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How has the market for Candida Infection Testing grown in Recent Years?
The candida infection testing market size has exhibited robust growth in recent years. It is forecasted to escalate from $14.78 billion in 2023 to $15.69 billion in 2024, indicating a compound annual growth rate CAGR of 6.2%. This advancement during the historic period can be attributed to the rising incidence of candida infections, improved awareness and diagnostics, the development of healthcare infrastructure, an upsurge in hospital-acquired infections, and augmentation in research funding.
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What are the future projections for Candida Infection Testing Market?
The candida infection testing sector is expected to witness significant growth in the forthcoming years. It's poised to ascend to $20.05 billion by 2028, growing at a CAGR of 6.3%. The expansion during the forecast period can be ascribed to the emergence of new candida strains, the escalating awareness of fungal infections, access to expanded healthcare, the aging population, and rising mindfulness and preventive healthcare. The forecast period is characterized by major trends, such as advancements in molecular diagnostics, assimilation of digital health technologies, incorporation of AI and machine learning, and personalized medicine.
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What is Propel the Growth of the Candida Infection Testing Market?
The exponential increase in yeast infections is anticipated to boost the growth of the candida infection testing market moving forward. Yeast infections are a type of fungal infection caused by the overgrowth of candida, prevalent in areas such as the mouth, genitals, and skin, and often leading to symptoms like itching, redness, and discomfort. The primary genesis of yeast infections is an overgrowth of the fungus candida, typically due to imbalances in the body's natural bacteria, weakened immune systems, or hormonal changes. For a detailed diagnosis of yeast infections, candida infection testing is essential to identify the presence of candida overgrowth accurately, helping healthcare providers affirm the infection and guide suitable treatment. In 2022, the rate of bloodstream infections BSI caused by yeast in England was 4.0 per 100,000 population, marking a 4% increase compared to 2021, according to GOV.UK, a UK-based government agency. Therefore, the rising incidence of yeast infections will spur the growth of the candida infection testing market.
Which Companies are at the Forefront of the Candida Infection Testing Market?
Major market players in the candida infection testing include Thermo Fisher Scientific Inc., Abbott Laboratories, Siemens Healthineers AG, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Hologic Inc., bioMérieux SA, Bio-Rad Laboratories Inc., Bruker Corporation, QIAGEN N.V., Cepheid, Randox Laboratories Ltd., Meridian Bioscience Inc., DiaSorin S.p.A., Sekisui Diagnostics LLC, Enzo Biochem Inc., T2 Biosystems Inc., Aidian Oy, SafeCare LLC, CHROMagar, HK Biotek Inc., Health Testing Centers LLC, Accesa Labs LLC, Private MD Labs LLC
What are the emerging trends in the Candida Infection Testing Market?
Key industry players are focusing on launching technologically innovative solutions, for example, a fully automated PCR rapid test for detecting candida. This test has been designed for enhancing diagnostic accuracy and improving patient outcomes. Rapid PCR test allows healthcare providers to quickly and accurately ascertain the presence of Candida species in clinical samples. In May 2024, Bosch Healthcare Solutions GmbH, a Germany-based medical technology manufacturer, rolled out a PCR test for candida auris detection on the Vivalytic platform. This cutting-edge test enables prompt screenings and contrasts sharply with the traditional culture methods, which may take one to three days in centralized labs, hence delaying diagnosis and treatment. This test is primarily beneficial for high-risk patients, fostering timely diagnosis and treatment to circumvent the significant health risks associated with C. auris infections.
How is the Candida Infection Testing Market Segmented?
1 By Type: Invasive Candidiasis, Candidemia
2 By Test Type: Vaginal pH Test, Nucleic Acid Amplification Testing NAAT, Microbiome Test
3 By Application: Hospital, Laboratory
Regional Insights: Who is Leading the Candida Infection Testing Market?
In 2023, North America stood as the largest region in the candida infection testing market. The market report envelops regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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