Fungal testing kit is used as a fungal infection diagnostic kit in clinics, hospitals, and diagnostic centers. This kit is a serological assay that helps in qualitatively detecting beta-glucan in the serum of a patient who is showing symptoms of invasive fungal infections. Beta-glucans are polysaccharides found in the cell wall of fungi. By detecting a fungal infection, healthcare professionals can prescribe treatment for the specific fungi type. The sample collected by fungal testing kits is taken from body fluids, blood, scrapings of skin, nail, hair, or tissues . Tissue samples are taken for biopsy when there are symptoms of a deep infection.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in December, 2019. This highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since its outbreak, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
At the early phase of the COVID-19 pandemic, there was no availability of any specific diagnostic test to detect the disease in patients. Alternative diagnostic tests were used initially but were not much effective. This unavailability of specific COVID-19 diagnostic tests presented lucrative opportunities for diagnostic manufacturers to introduce their COVID-19 diagnostic kits. Many leading players as well as some start-ups from various countries utilized this opportunity and introduced COVID-19 diagnostics kits into local as well as global markets. These players achieved an edge over other diagnostics players, capitalizing on the opportunity from demand for COVID-19 diagnostic tests, which, in turn, helped them in maintaining their revenue in such a crisis.
However, with COVID-19, the supply chain of the raw material required to manufacture fungal testing kits and products for Down syndrome was disrupted in many countries. In addition, the market growth of diagnostic products is also declining as the manufacturers of diagnostic kits have slowed down their production because of the pandemic. This, in turn, is expected to have a significant impact on the fungal testing kits market.
Top Impacting Factors
- The geriatric population has witnessed immense proliferation all across the world. The vulnerability of aged people to fungal infections is quite high. This factor has helped to boost the market of fungal testing kits.
- In addition, with an increase in population worldwide, the number of hospital admissions has increased. With rise in number of people, the chances of infections getting spread are also high. Hence, this can also help grow the fungal testing kits market.
- There are many fungal infections that can be fatal for humans, such as black fungus infection. For this reason, governments all across the world are increasing investments in manufacturing fungal testing kits. This will positively influence the fungal testing kits market growth during the forecast period.
- However, there are many conservative social and cultural perceptions about certain diseases that can hinder the growth of the fungal testing kits market. This is because most fungal infections affect the genitals. Countries like Mexico, South Africa, and Colombia have a conservative outlook combating genital disorders making people reluctant to seek diagnosis and treatment for them. This can hamper fungal testing kits market growth.
Key Market Trends
Players such as GenMark Diagnostics, Inc. and La-Roche have released serological assays in the market such as the COBAT LIAT PCR system. This system consists of ePlex blood culture identification panel serological assay to help identify fungal infection subtypes.
In 2019, the acquisition of Brammer Bio was announced by Thermo Fisher Scientific. This acquisition helped Thermo Fisher Scientific enhance its laboratory services and product portfolio for fungal testing kits.
North America has emerged as the global leader in the fungal testing kits market. This can be attributed to the high prevalence of infectious diseases. In addition, the awareness regarding various fungal diseases has also escalated in this region which has increased the need for fungal testing kits.
In Asia-Pacific, the fungal testing kits market is expected to grow in countries like South Korea, China, India, and Japan. These nations represent growth potential in the wake of increasing healthcare expenditure and a huge patient pool. Infections such as invasive fungal diseases and candidiasis are also rampant in these aforementioned nations. This boosts the growth of the fungal testing kits market.
Key Benefits of the Report
- This study presents the analytical depiction of the fungal testing kits industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the fungal testing kits market share.
- The current market is quantitatively analyzed to highlight the growth scenario of the fungal testing kits market.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Fungal Testing Kits Report
- Which are the leading players active in the fungal testing kits market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for the fungal testing kits market in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps in the market?
- What are the impacts of COVID-19 on the industry?
- What are fungal testing kits?
- What are the current and predicted trends of the market?
Fungal Testing Kits Market Report Highlights
By Test Type
By Sample Type
By End User
Key Market Players
bioMerieux SA, Merck KGaA, PerkinElmer, F. Hoffman La-Roche Ltd., Norgen Biotek, Thermo Fisher Scientific, Biomed Diagnostics, Inc., ELITech Group, Hologic, Inc., C.P.M Diagnostic Research SAS