The global gastrointestinal diagnostics market size is expected to reach USD 6.87 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.58% from 2022 to 2030. Rising awareness about gastrointestinal disorders and a surge in gastrointestinal disorder testing are the major factors driving the market. Moreover, technological advancements in gastrointestinal infection testing are expected to cater to the market demand. For instance, in May 2022, QIAGEN launched QIAstat-Dx Rise, which is capable of providing results in a span of one hour for multiple diseases.
Gastrointestinal Diagnostics Market Report Highlights
· On the basis of test type, the endoscopy segment held the largest share in 2021 owing to rising demand for minimally invasive procedures
· Based on technology, the PCR accounted for the second-largest share in 2021 due to the availability of a robust product portfolio and rising product launches
· The infection application segment held the largest share in 2021 owing to the higher incidence of GI infections and the surge in awareness
· On the basis of test location, the central laboratories segment held the largest share in 2021. The point-of-care segment is anticipated to register the fastest growth rate throughout the forecast period
· Asia Pacific is expected to exhibit the fastest growth rate over the forecast period due to the rising investments by market players and increasing research activities in the region
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The increasing trend of a sedentary lifestyle, lack of exercise, unhealthy eating habits, and a higher prevalence of obesity are anticipated to fuel GI diagnostics market growth. According to the CDC, the prevalence of obesity among people in the U.S. is between 30-40%. States such as Alabama, Alaska, and Arizona have the highest prevalence of obesity in the U.S. Obesity is associated with GI diseases such as gastroesophageal reflux disease, diarrhea, gastric cancer, and others. Hence, it is expected to impetus market growth.
Technological advancements associated with gastrointestinal diagnostics for early diagnosis and efficient testing are expected to augment market growth during the forecast period. For instance, in March 2022, Luminex Corporation obtained a CE mark for its NxTAGxMAP GI Pathogen Panel. This test is a detailed multiplex test that detects nucleic acids from the 16 most clinically relevant viral, parasitic, and bacterial pathogens in stool samples. Moreover, the test is capable of providing results on the same day and can run 96 samples at a time.
Moreover, the presence of organizations involved in increasing awareness regarding gastrointestinal disorders is expected to facilitate market expansion. For instance, organizations such as the Gastrointestinal Society (Canadian Society of Intestinal Research) and the International Foundation for Gastrointestinal Disorders are actively involved in promoting gastrointestinal health and broadening the understanding of GI disorders, thereby augmenting market growth.
Furthermore, various strategic initiatives undertaken by market players to strengthen their product portfolio and expand global footprints are likely to provide lucrative growth opportunities for the market. For instance, in November 2021, The Life Raft Group and Bayer Pharmaceuticals announced a research collaboration for broadening access to genomic testing for GI stromal tumor patients. The aim of this collaboration is to advance precision medicine and improve genetic testing to identify patients in the U.S.
In addition, in June 2021, Prometheus Laboratories, Inc. announced an agreement with MultiPlan for accessing specialized gastrointestinal testing. Prometheus offered its breakthrough testing solutions to improve the outcome of GI disorders. This agreement has allowed the testing service of Prometheus to reach the maximum number of customers.
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