Typhoid Antibody Testing Market Trends

Growth Drivers

• Increased Rate of Morbidity and Mortality in Typhoid Cases – According to the data by the World Health Organization (WHO), around 11 – 20 million people are known to have typhoid disease and between 128,000 and 161,000 people are known to die as a result of the disease every year.

• Increased Competition Among Competitors – For instance, WIDAL antigen test is inexpensive and easily be done in few minutes but it takes long time of around 10 days to produce the result. This factor is estimated to bring more competition among top manufacturers to produce fast, accurate and cost effective ways to diagnose typhoid.

• Government Support to Manage Typhoid Cases – For instance, “Swachh Bharat Mission” program was initiated by Indian government aims to improve the sanitation condition and waste management, as well as construction of community toilets throughout the country by 2019.

• Lack of Safe Sanitation in Developing Countries – According to the United Nations Children’s Fund (UNICEF) and World Health Organization (WHO), 6 in 10 people globally i.e., around 4.5 billion people globally lacked proper sanitation condition at their homes.

• Increased Health Expenditure – According to the data by World Bank, in 2019, the expenditure on health as a share of the GDP in Australia, India, and China touched 9.91%, 3.01%, and 5.35% respectively.

Challenges

• Lacking Early Diagnosis of Enteric Symptoms
• Lack of Awareness Related to Antibody Testing Kits
• Patient’s Exposure to Other Antibiotics Prior Visiting to Healthcare Facility

The global typhoid antibody testing market is segmented and analyzed for demand and supply by end-user into hospitals, diagnostic centers, serological testing centers, clinics, and, other healthcare facilities. Out of these segments, the hospital segment is anticipated to garner the largest market share over the forecast period, owing to the availability of proper medical facilities in hospital premises in addition to the availability of advance technologies and treatment. Besides this, the surge in medical tourism industry is also projected to generate numerous growth opportunities for the segment in the coming years. According to the data by India Brand Equity Foundation (IBEF), in 2020, valuation of Indian medical tourism market was US$ 2.89 billion, which is further expected to touch US$ 13.42 billion by the end of 2026. Moreover, fast paced, advance technological equipment and people’s trust on highly qualified professional is estimated to fuel the growth of segment.

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.