Market Challenges And Opportunities

Increase in geriatric population coupled with a high prevalence of non- communicable diseases responsible to propel the global immunoprotein diagnostic testing market

The major factors responsible to drive the global immunoprotein diagnostic testing market are the rise in the geriatric population and the high prevalence and incidence rates of chronic diseases. According to WHO, the number of people suffering from Diabetes has risen from 108 million in 1980 to 422 million in 2014, suggesting a rapid rise in the prevalence and incidence of diabetes. Moreover, according to Global Health Observatory data published by WHO in 2017, around 70% of global deaths accounting for up to 39.5 million are caused due to non- communicable diseases (NCD) such as cardiovascular diseases, chronic lung diseases, cancers, and diabetes.

In addition to this, several other drivers of the global immunoprotein diagnostic testing market comprise of awareness among population towards early diagnosis, well- established healthcare systems and the rise in the incidence of infectious diseases in the developing countries due to unhygienic conditions. However, the small shelf life of the products and low per capita income in various countries are dampening the market growth.