Shigella Test Kit Market Research Report 2023 - Detailed Analysis of Future Trends & Growth Opportunities

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 kit is used for the diagnosis of Shigella infections, which are caused by Shigella species of bacteria. Shigella species are a major cause of diarrheal diseases globally and can cause abdominal cramps, fever, and diarrhea. These test kits detect the presence of Shigella bacteria from stool samples through various methods like enzyme immunoassays, nucleic acid assays, and others. Rapid detection of Shigella infections helps in timely treatment and control of outbreaks.

Market key trends:

Shigella infections are highly contagious that can easily spread in households, daycare centers, swimming pools and other places. With rising awareness regarding gastrointestinal infections, the demand for test kits to quickly detect Shigella infections is growing. Furthermore, increasing number of travelers to developing countries where sanitation is a major issue, is augmenting the risk of contracting gastrointestinal diseases including Shigella infections. This is expected to drive the growth of shigella test kit market. Growing focus on development of accurate and rapid diagnostic tests for infectious diseases is also contributing to market growth. However, frequent emergence of antibiotic-resistant strains of Shigella is a major challenge.

Porter’s Analysis

Threat of new entrants: The Shigella Test Kit Market requires high RD investment and expertise. Regulatory requirements also pose a barrier for new companies.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and standardized products offered by existing players.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternatives and dominance of few major players in the market.
Threat of new substitutes: Threat of substitution is low as Shigella test kits have unique features for diagnosis of Shigella infection.
Competitive rivalry: Market is moderately competitive with presence of established global as well as regional players.

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 Shigella infection.

Regional analysis: North America region holds the major share in the Shigella test kit market due to high healthcare expenditure and advanced healthcare infrastructure. Asia Pacific is expected to witness highest growth rate owing to improving healthcare facilities and rising awareness about Shigella infection.

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., and CTK Biotech Inc