Sepsis Diagnostics Market: Current Analysis and Forecast (2021-2027)

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Global Sepsis Diagnostics Market is anticipated to grow with an elevated CAGR of around 9% over the forecast period (2021-2027). Sepsis is a life-threatening medical emergency in which one’s body produces an extreme response to an infection causing damage to its own organs and tissues. Based on the severity of infection, sepsis can be of three types: sepsis, severe sepsis, and septic shock.

The sepsis diagnostics market is anticipated to grow globally on account of the growing technological advancement and frequent product launches. For example, in January 2020, Danaher corporation launched the DxH 690T hematology analyzer in the United States for the early detection of sepsis. Furthermore, rising public-private funding for effective sepsis diagnostic research activities, growing awareness about sepsis, and increasing regulatory approvals are also some of the prominent reasons contributing to the market growth.

Furthermore, the rising prevalence of infectious diseases and hospital-associated infections (HAI) that can trigger sepsis, especially in the elderly population, newborn babies, and people suffering from chronic ailments. For instance, in any developed country, 7 out of every 100 hospitalized patients probably develop hospital-acquired infections, while this number is expected to rise to 10 in developing countries owing to its not so well-maintained healthcare infrastructure, as per the WHO. Thus, with the rapid increase in HAIs across the globe, there is a surging demand for effective sepsis diagnostic solutions.

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Danaher Corporation, BioMérieux, Becton, Dickinson and Company, Roche Diagnostics, Thermo Fisher Scientific, Abbott Laboratories, Luminex Corporation, T2 Biosystems, EKF Diagnostics, Immunexpress, are some of the prominent players operating in the sepsis diagnostics market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with sepsis diagnostic solutions.

Insights Presented in the Report

“Amongst Technology, microbiology segment holds the major share”

Based on technology, the market is fragmented into microbiology, immunoassays, molecular diagnostics, and flow cytometry. In 2020, the microbiology technology segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast owing to the extensive use of this technology for the diagnosis of sepsis as it allows accurate identification of different microorganisms. In addition, the low cost of various microbiology techniques is also adding pace to the market growth. However, the molecular diagnostics segment is anticipated to grow at a lucrative CAGR in the upcoming years.

“Amongst Products, blood culture media segment holds the major share”

Based on product, the sepsis diagnostics market is segmented into blood culture media, assay & reagents, instruments, and software. In 2020, the blood culture media segment accounted for a significant market share, and it is projected that it will exhibit considerable growth during the forecast period as it is only the most cost-effective and convenient mode of testing. Also, the easy availability of blood culture media in the market is leading to the rising utilization of this media by various hospitals as well as pathology laboratories for sepsis diagnosis. However, with the growing adoption of various software platforms by healthcare providers for better diagnosis and management of sepsis, the software segment is also anticipated to grow with the highest CAGR over the projected timeframe.

“Amongst Pathogen, bacterial segment holds the major share”

Based on pathogens, the sepsis diagnostics market is divided into bacterial, fungal, viral, and others. The bacterial segment accounted for a significant market share in 2020 and it is estimated that it will exhibit considerable growth during the forecast period. This can be due to the high prevalence of bacterial sepsis with almost 62.2% of patients infected due to gram-negative bacteria and 46.8% with gram-positive bacteria. Moreover, the increasing R&D activities and swift regulatory approval of new and advanced solutions for bacterial sepsis are also some of the factors expected to significantly support the growth of this segment.

“Amongst Test Type, laboratory tests segment holds the major share”

Based on test type, the sepsis diagnostics market is divided into laboratory tests and point-of-care (POC) tests. The laboratory tests segment occupied the major share of the sepsis diagnostics market in 2020 and it is expected to grow with substantial CAGR in the upcoming years. The growth of this segment is attributed to the greater of laboratory testing in comparison to POC testing while diagnosing sepsis. Also, the presence of technologically advanced products in these laboratories has made the reliance of the public and physicians on these labs which in turn is also boosting the segment growth. However, POC testing is expected to grow significantly during the forecast period owing to the new launches of rapid diagnosis assay kits in the market.

“Amongst End-Users, hospitals & specialty clinics segment holds the major share”

Based on end-user, the market is fragmented into hospitals & specialty clinics, pathology & reference laboratories, and others. In 2020, the hospitals & specialty clinics segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast as hospitals are the surge in the number of patients hospitalization and presence of in-house diagnostic laboratories in the hospital setting that performs a large number of blood culture tests.

“North America represents one of the largest markets of sepsis diagnostics market”

For a better understanding of the market dynamics of the sepsis diagnostics market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the sepsis diagnostics market industry and generated revenue of USD XX Million in 2020 owing to strong healthcare infrastructure and growing adoption of advanced technological solutions in the healthcare industry in the region.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global sepsis diagnostics market were the three major steps undertaken to create and analyze the adoption of sepsis diagnostics in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global sepsis diagnostics market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the sepsis diagnostics through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the sepsis diagnostics market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as technology, product, test type, pathogen and end-users. Further country-level analyses were conducted to evaluate the overall adoption of sepsis diagnostics across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the sepsis diagnostics. Further, we conducted factor analysis using dependent and independent variables such as growing prevalence of hospital acquired infrctions including sepsis. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the sepsis diagnostics sector across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the sepsis diagnostics market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of sepsis diagnostics across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the sepsis diagnostics market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the sepsis diagnostics market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of technology, pathogen, product, test type, and end-users of the sepsis diagnostics market.

The main objective of the Sepsis Diagnostics Market Study

The current & future market trends of sepsis diagnostics were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of sepsis diagnostics in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of of technology, pathogen, product, test type, and end-users
• Define and analysis of the regulatory framework for the sepsis diagnostics industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the sepsis diagnostics market for the major region
• Major regions studied in the report include North America, Europe, Asia-Pacific and Rest of the world
• Company profiles of the sepsis diagnostics market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry