Sepsis Diagnostics Market

Market Leader - Sepsis Diagnostics Market

The global sepsis diagnostics market is estimated to reach USD 613.9 Million by 2023 from USD 396.6 Million in 2018, at a CAGR of 9.1% from 2018 to 2023. The factors driving the growth of this market include increasing incidence of sepsis, growing number of surgical procedures, and high incidence of hospital-acquired infections.

Analysis of the market developments between 2015 and 2017 revealed that several growth strategies such as product launches, product approvals, acquisitions, collaborations, partnerships, and expansions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the sepsis diagnostics market. Among these business strategies, product approvals and launches were the most widely adopted growth strategies by players to garner a larger share of the market and remain competitive.

bioMérieux (France)held the leadership position in the global sepsis diagnostics market in 2016. The company has been focusing new product development and product approvals in the field of sepsis diagnostics. For instance, in April 2017, bioMérieux received FDA approval for its BacT/ALERT VIRTUO fully automated blood culture system. In July 2016, bioMérieux received FDA approval for the expanded use of its VIDAS BRAHMS PCT (Procalcitonin) assay. Through this, it introduced innovative products in the market, which enabled it to garner a higher market share. In addition, the company has a strong global presence with strong distribution channels to serve markets in North America, Europe, Oceania, Africa, and Asia Pacific.

Becton, Dickinson and Company (US) held the second position in the global sepsis diagnostics market in 2016. The company has a diversified portfolio, which includes automated blood culture instruments, blood culture medium, blood culture consumables, and laboratory data management software. With the objective of improving patient’s quality of life, the company is concentrating on developing new products and is focusing its efforts on gaining product approvals. In line with this, in August 2017, BD received FDA approval for its BD BACTEC Standard Aerobic and Standard Anaerobic blood culture bottles in plastic. Likewise, in March 2016, the company received approval for its BD BACTEC PEDS Plus/F blood culture bottles in plastic, which were initially available in glass. The company’s leadership position in the market can be attributed to its strong distribution network in both developed as well as developing countries across the globe, which enables it to serve customers in North America, Europe, Asia Pacific, Eastern Europe, the Middle East, and Africa.

Related Reports:

Sepsis Diagnostics Market by Technology (Microbiology, Molecular Diagnostic, Immunoassay, Biomarkers), Product (Blood Culture Media, Instruments), Method (Automated), Test Type (Lab, POC), Pathogen (Bacterial, Fungal), End-User - Global Forecast to 2023

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Report Code
MD 4575
RI Published ON
4/4/2018
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