New York, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The rise in infectious diseases and rheumatoid arthritis condition across the world is driving the global latex agglutination test market. The market is estimated to reach US$ 2.4 Bn in 2022 and increase at a CAGR of 5.6% over the forecast period (2022-2032).
One of the leading causes of unexpected deaths is thought to be bacterial infections. The likelihood of secondary cases makes the identification of Neisseria meningitidis infections a crucial responsibility for medico-legal agencies. Since Haemophilus influenza and Streptococcus pneumonia are also responsible for infectious sudden fatalities, determining the bacteria that caused the death is crucial for making a conclusive diagnosis and avoiding additional meningococcal infections.
“Rising focus on early & faster diagnosis of infectious diseases and growing demand for better treatment options will drive market growth over the coming years,” says an analyst of Persistence Market Research.
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Key Takeaways from Market Study
- Latex agglutination test for antigen detection generated US$ 1.41 Bn revenue in 2021.
- Blood/plasma samples contributed US$ 792.1 Mn in revenue in 2021.
- By application, diagnostics held the largest market share of 82.2% in 2021.
- By indication, rheumatoid arthritis accounts for a market value of US$ 525.8 Mn.
- By end user, hospitals generate the highest revenue and the segment held a market share of 40.5% in 2021.
- Around 31.5% of the global market share, by region, was accounted for by North America in 2021.
Diagnosis of C-Reactive protein (CRP) in the bloodstream is an important factor in the early rehabilitation of a patient. This is primarily performed through latex agglutination tests. In reaction to tissue damage, infection, and inflammation, the liver cells create C-reactive proteins (CRP), one of the non-specific acute phase proteins. CRP is tested in clinical laboratories as a sign of ongoing infections, chronic inflammatory conditions, and occasionally as a risk factor for cardiovascular disease.
Key companies in the market such as Thermo Fisher Scientific and Cardinal Health are utilizing a variety of marketing strategies to promote their diagnostic procedures with improved precision and technology. This can be a major driving factor in the early and timely diagnosis of infectious and life-threatening diseases.
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Market Competition
Key market players are focused on new and faster diagnostic methods, technologies, and partnerships to meet the demand and expand their product portfolio.
Some key strategies adopted by industry players are:
- In September 2022, a pioneer in lab automation and innovation, Beckman Coulter Life Sciences recently announced the acquisition of ValitaCell Ltd., a biotechnology firm that develops cutting-edge analytical tools and solutions for the biopharmaceutical sector.
- In September 2022, the world's leading platform for biopharma & medtech controlled digital health solutions, BrightInsight, Inc., and BioMérieux, a pioneer in in-vitro diagnostics, recently announced a partnership to develop as well as market a Diagnostic Digital Solution for Diagnostic methods which enables clinical decision support for disease areas throughout their diagnostic tests.
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