Growing Prevalence of Clostridium-related Diseases and Increasing Awareness Campaigns will Drive the Global Clostridium Diagnostics Market

calendar_today 13 October, 2022 person_outline Growth Plus Reports

According to the deep-dive market assessment study conducted by Growth+ Reports, the global clostridium diagnostics market was pegged at ~US$ 2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of ~12% from 2022 to 2030.

The rising incidence of clostridium-related diseases, government initiatives, including awareness campaigns to educate people, the use of portable POCT products, and technological improvements in immunoassay tests are the main factors driving the growth of the clostridium diagnostics market. Moreover, developing technically advanced tests and rising public awareness of pre-symptomatic blood screening for infectious diseases during the projection period will also present attractive market growth possibilities. For instance, in March 2021, the Peggy Lillis Foundation for Clostridium Difficile Infections and Ferring Pharmaceutical established cooperation through new sponsorships to support new and ongoing patient advocacy campaigns.

The rise in the global elderly population is anticipated to impact the clostridium diagnostics market. People are becoming more susceptible to disease due to changing lifestyles. As a response, Clostridium bacteria are developing drug resistance. Leading companies are anticipated to continue to profit from the pandemic due to the constant demand for various treatments and devices. Along with the need for precision treatment and early diagnosis, home care settings are increasingly demanding.

Hospital-associated GI disease is frequently caused by Clostridium difficile infection (CDI), which significantly strains the healthcare system. According to estimates, CDI sufferers cost the US healthcare system US$ 3.2 billion annually. Patients with CDI spend more time in the hospital, and CDI has been the main factor in significant disease outbreaks in hospitals, ultimately driving the market during the forecast period.

Players in the market are putting more effort into providing vaccines, which might raise the market size throughout the forecast period. For instance, in March 2022, Japan established a new centre with a US$ 1.6 billion budget to fund drug and vaccine development initiatives in an effort to combat infectious diseases. SCARDA will be in charge of creating a flagship R&D facility for creative partnerships and managing to fund R&D initiatives. However, the main obstacle to market expansion during the forecast period is developing nations' lack of resources and awareness. Additionally, it is expected that another significant market issue during the projection period will be the high costs associated with R&D and vaccine manufacturing.

North America dominated the region during the forecast period. The expansion of the American market can be attributed to the public's increased knowledge due to the increased launch of campaigns by different organizations. For instance, the Peggy Lillis Foundation's "C. diff" campaign, introduced in December 2020, succeeded in its goal by speaking to more than 250,000 Americans. Furthermore, to honour C.diff Awareness Month in 2019, the organization developed the "See C. diff" campaign, which reached about 80,000 individuals. The market in the United States is anticipated to grow significantly over the future years because of these efforts.

On the other hand, the Asia Pacific showed the fastest growth during the forecast period. The developing economies in the Asia Pacific, including India, China and Japan, are predicted to have profitable growth during the projected period because of increased healthcare costs and clostridium prevalence. The adoption of practical measures can be credited with expanding the Japanese market. For instance, Japan established a new centre in March 2022 with a US$ 1.6 billion budget to fund vaccine and pharmaceutical initiatives as part of a bigger plan to combat infectious illnesses. Furthermore, establishing a flagship R&D facility for creative partnerships and managing to support R&D initiatives will fall under the purview of SCARDA. Such aspects are anticipated to create several expansion chances for the Japanese market during the forecast period.

The prominent players in the global Clostridium diagnostics market include Abbott Laboratories, F. Hoffmann-La Roche AG, Acurx Pharmaceuticals, Siemens AG, Becton, Dickinson and Company, Beckman Coulter, Inc., Cubist Pharmaceuticals, Sysmex India Pvt. Ltd., Thermo Fisher Scientific Inc., Avisa Pharma, Fujirebio US, Inc., MGB Bio Pharma, bioMrieux SA, and Diazyme Laboratories, Inc. among others.
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