Sep 15, 2020   SOURCE: PR NewsWire

Fungal Testing Kits Market to Attain US$ 3.4 Bn Valuation through 2030, Says Future Market Insights in New Study

DUBAI, U.A.E, Sept. 15, 2020 /PRNewswire/ -- The global fungal testing kits market is anticipated to grow strikingly at a CAGR of 10.2% amid the assessment period, 2020-2030.

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Growing prevalence of systemic and superficial fungal infections, on-going schemes to promote and develop antifungal drugs testing, broader commercial accessibility of enhanced diagnostics, increasing awareness programs, heightening life expectancy and growth of real-time testing methods are projected to complement growth of the global market in the approaching years. Companies are focusing on making the kits affordable and cost-effective is at the keystone of vendors, since majority of the populace in growing economies have low disposable incomes. Thus, attempts are ongoing to offer affordable testing kits.

Governments are speeding up efforts to get over barriers such as conservative social and cultural perceptions in certain regions concerning certain diseases such as fungal infections.

With huge uncertainty looming over individual's heads due to COVID-19 pandemic, a huge economic slump is on the cards. Despite this, the healthcare sector stay stoic, dedicated to eliminate the pandemic as soon as possible.

"Incessant focus on integrating technological progressions to enhance diagnostic outcomes stays the central objective of the companies, allowing them to expand their revenue pools," opines FMI analyst.

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Fungal Testing Kits Market - Major Takeaways

    --  Medical diagnosis to stay fundamental application area, producing an
        attractiveness index of 2.8.
    --  Skin samples are projected to gain the prominent share, holding more
        than 40% of the market due to a rising prevalance of superficial fungal
        infections such as yeast, athlete's foot and ringworm infections.
    --  Molecular detection tests to loom over others, accounting for US$ 1.6 Bn
        through 2030.
    --  Broadening expenditure on healthcare infrastructure to elevate demand
        all over Asia-Pacific.

Fungal Testing Kits Market - Key Drivers

    --  Growing geriatric population and vulnerability to the fungal infections
        has witnessed immense proliferation, which, in turn recorded an
        impressive upsurge in the market in the long term.
    --  Increasing instances of several fungal infections and the commercial
        availability of diagnostic tests is burgeoning, this is projected to
        raise the market to higher echelons over the years to come.

Fungal Testing Kits Market - Regional Analysis 

    --  North America will remain as the dominant market, due to high occurrence
        and diagnostics of infectious ailments.
    --  The European market for fungal testing kits is projected to account for
        significant sway, gaining close to 30% of the global revenue share
        during the assessment period.

Fungal Testing Kits Market - Competitive Landscape

Major companies identified in the global market for fungal testing kits include Thermo Fisher Scientific, Merck KGaA, bioMerieux SA, PerkinElmer Inc., ELITech Group, GenMark Diagnostics Incorporation, C.P.M. Diagnostic Research, Norgen Biotek, Biomed Diagnostics Incorporation, F.Hoffman LaRoche Limited., PCRmax, Bioquochem and Hologic Inc. Companies are focusing on partnerships, collaborations and acquisitions to develop lucrative diagnostic kits. For instance,

GenMark Diagnostics Inc. reported details concerning the effectivity of a PCR-based electrochemical detection and digital microfluidics system for fast recognition of 15 fungous pathogens. The system intends at finding pathogenic activity direct from positive blood cultures.

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Fungal Testing Kits Market - Taxonomy

Test Type

    --  Molecular Test
    --  Chromogenic Test
    --  Others

Sample Type

    --  Skin
    --  Urine
    --  Vaginal Secretions
    --  Blood
    --  Cerebral
    --  Others

Application

    --  Research
    --  Susceptibility Testing
    --  Medical Diagnosis
    --  Others

End-User

    --  Diagnostic Laboratory
    --  Hospitals
    --  Pharmaceutical Companies
    --  Research and Academic Institutes

Region:

    --  North America
    --  Latin America
    --  Europe
    --  South Asia
    --  East Asia
    --  Middle East & Africa
    --  Oceania

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Get Valuable Insights into the Fungal Testing Kits Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global fungal testing kits market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the fungal testing kits market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.

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