The global Shigella Test Kit Market is estimated to be valued at US$ 106.4 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Shigella test kits are diagnostic kits used to detect the presence of Shigella bacteria, which is a common cause of diarrhea. Shigella test kits detect Shigella through tests such as enzyme immunoassays, PCR, and microscopy. Advantages of Shigella test kits include early and accurate diagnosis of Shigella infection, which helps initiate timely treatment and reduces complications. With rising incidence of diarrhea cases worldwide, the need for rapid and reliable Shigella diagnosis is increasing, driving growth of the Shigella test kit market.
Market key trends:
One of the key trends in the Shigella test kit market is the launch of new diagnostic technologies with enhanced accuracy and speed. Players are focusing on developing rapid POC tests, multiplex assays, and automated diagnostic systems for Shigella. For instance, in 2020, Thermo Fisher Scientific launched a multiplex real-time PCR kit for simultaneous detection of bacteria including Shigella. Additionally, advancement in molecular diagnostics has enabled development of PCR-based Shigella tests with high sensitivity and specificity. This is improving disease management and facilitating research on epidemiology of Shigella infections.
Porter’s Analysis
Threat of new entrants: Low due to need for extensive R&D efforts and distribution channels for kits. Also need for specialized medical knowledge.
Bargaining power of buyers: Moderate due to availability of several diagnostic kit manufacturers but testing of Shigella is important for healthcare.
Bargaining power of suppliers: Moderate as raw materials are available but manufacturers have specialized expertise and production facilities.
Threat of new substitutes: Low as Shigella test kit is important diagnostic tool with no close substitutes for detecting Shigella infection.
Competitive rivalry: High owing to presence of several global and regional players offering Shigella test kits. Intense pricing pressure to gain market share.
Key Takeaways
The global Shigella test kit market is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing prevalence of shigellosis across developing regions.
North America is expected to dominate the global Shigella test kit market during the forecast period owing to rising investments for advanced diagnostic solutions and growing awareness. However, Asia Pacific is anticipated to exhibit the fastest growth over the forecast period attributed to improving healthcare infrastructure and increasing healthcare spending in major economies such as India and China.
Key players operating in the Shigella test kit market are Thermo Fisher Scientific Inc., Meridian Bioscience Inc., QIAGEN N.V., Bio-Rad Laboratories Inc., Creative Diagnostics, Hardy Diagnostics, Luminex Corporation, DiaSorin S.p.A., Sekisui Diagnostics LLC, BioMérieux SA, MP Biomedicals LLC, Coris BioConcept, Alere Inc., Fujirebio Diagnostics Inc., CTK Biotech Inc. Innovation and partnerships to develop rapid and accurate diagnostic products are the focus of these players to gain competitive edge.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it