Infectious Disease Diagnostics Market Size, Share, Growth Analysis, By Product & Service(Reagents, Kits, And Consumables, Instruments), By Type of Testing(Laboratory Testing, POC Testing), By Sample Type(Blood, Serum, and Plasma, Urine), By Disease Type(Hepatitis (Hepatitis B, Hepatitis C, Other Hepatitis Diseases), HIV), By Technology(Immunodiagnostics, Clinical Microbiology, Polymerase Chain Reaction, Isothermal Nucleic Acid Amplification Technology), By End User(Diagnostic Laboratories, Hospitals & Clinics, Academic Research Institutes, Other End Users), By Region - Industry Forecast 2024-2031

Global Infectious Disease Diagnostics Market size was valued at USD 21.20 billion in 2022 and is poised to grow from USD 22.94 billion in 2023 to USD 43.09 billion by 2031, growing at a CAGR of 8.20% during the forecast period (2024-2031).

Growing number of elderly people who are prone to infectious diseases, increasing awareness about early diagnosis, high demand for PoC diagnosis due to epidemics, rising infectious diseases are major factors driving the market in the forecast period. 

The growing aging population worldwide and numerous untapped opportunities in developing countries are expected to boost the growth of the industry during the forecast period. According to World Bank Group estimates that in 2022 there were approximately 779 million people aged 65 & older worldwide. In addition, the number of individuals aged 80 and older is expected to more than double in 2050. The rise of infectious diseases is an important driver of rapid income. Moreover, it must be done routine screening of adults to avoid serious infections.  

Increased regulatory scrutiny of the infectious disease diagnostics market as well. The regulatory framework for drug approval has always been one of the major inhibitors in the clinical research industry. The regulatory framework for the research sector is very strict in countries where the market has great potential for growth due to the large patient pool. Such sporadic and uncertain regulatory processes for in vitro diagnostics confuse manufacturers for commercial purposes. 

There are very few direct alternatives to in vitro diagnostics products and services. The use of infectious imaging devices may restrain the market growth to some extent. However, IVD testing for infectious diseases outweighs the risk of alternatives due to its high accuracy and cost.

US Infectious Disease Diagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.