Critical Care Diagnostics Market size is poised to cross USD 3 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of critical care diagnostics was USD 1 Billion. The reason behind the growth is due to the growing burden of cancer across the globe. For instance, there are an estimated 0.7 million new instances of cancer annually, indicating a constant increase in poor diet, alcohol use, smoking, physical inactivity, air pollution, and other noncommunicable illnesses, which are exacerbated by aging and population expansion.
According to the World Health Organization (WHO), it is anticipated that there will be over 35 million new cases of cancer in 2050, a 77% increase over the projected 20 million cases in 2022.
The growing development of quick diagnostic tools is believed to fuel the critical care diagnostics market growth. Without the need for complex equipment, the latest generation of miniaturized biosensor technologies for point-of-care testing has produced a more sensitive, dependable, quick, and economical detection procedure, which has benefited the clinical management of numerous applications, including pathology, drug discovery, and food safety.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~6% |
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Base Year Market Size (2023) |
~ USD 1 Billion |
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Forecast Year Market Size (2036) |
~ USD 3 Billion |
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Regional Scope |
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Type (Routine & Special Chemistry, Flow Cytometry, Hematology, Immunoproteins, Microbial & Infectious Disease, Coagulation Testing)
The immunoproteins segment in the critical care diagnostics market is estimated to gain a robust revenue share of 37% in the coming years. Immunoprotein diagnostic testing is defined as the process of examining particular proteins produced by the immune system such as cytokines, antigens, or antibodies in the body to examine illnesses associated with particular proteins, including immunoglobulin, pre-albumin, and others. Immunoproteins are blood proteins that are essential to the immune system's operation and perform a crucial part in the diagnosis of cancer, and infectious diseases, and are extremely important since they provide insight into the immune system's resilience and help diagnose autoimmune disorders. The use of laboratory and patient-explicit assays is part of immunoprotein diagnostic testing which is based on the particular protein levels that were abnormal as well as whether the levels were too high or low.
In addition, the process of identifying and frequently characterizing the causative agent of an infectious disease is known as infectious disease diagnostics which uses methods such as molecular diagnostics, biochemical testing, microscopy, and microbial culture. Besides this, blood and blood diseases are studied in hematology which also involves an examination of hematopoiesis.
End-User (Operation Room, Intensive Care Unit, Emergency Rooms)
The emergency rooms segment in the critical care diagnostics market is set to garner a notable share shortly. The primary focus of an emergency department and critical care unit is the patient's health; therefore, the emergency room treats patients with injuries that are immediately life-threatening and circumstances that call for rapid, emergency care. Emergency physicians should concentrate on providing patients who are seriously injured or unwell with prompt care since if they wait longer, they risk organ failure, and other negative consequences.
Our in-depth analysis of the global market includes the following segments:
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End-User |
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North American Market Forecast
The critical care diagnostics market in North America is predicted to hold the largest revenue share of 45% by 2036 impelled by the growing investment in healthcare. The yearly growth rate of U.S. healthcare spending is currently over 1% higher than the GDP, and the amount spent on healthcare in the United States will total around USD 6 trillion by 2028, or over 15% of GDP. Particularly, in 2022, US healthcare spending increased by more than 4%. As a result, hospitals hugely investing in advanced diagnostic technologies, leading to an increase in accessibility to advanced imaging systems, and point-of-care testing devices necessary in critical care settings.
APAC Market Statistics
The Asia Pacific critical care diagnostics market is estimated to the second largest revenue share, during the forecast period, led by the rising medical tourism. India has become a significant medical tourism hub in recent years, owing to its low-cost treatments, presence of highly skilled and specialized medical professionals, and state-of-the-art medical facilities. For instance, over the past ten years, medical tourism has brought in over USD 7 billion for India; in the next ten years, it is anticipated to reach around USD 43 billion.
Author Credits: Radhika Gupta, Shivam Bhutani
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