Increase in adoption of point of care (POC) testing and development in the field of nucleic acid detection across the world drive the growth of the global pneumonia testing market.
PORTLAND, Ore., May 16, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Pneumonia Testing Market by Types (Consumables, Analyzers), by Method (Immunodiagnostics, Molecular Diagnostics, Point of Care Testing), by Technology (Enzyme Linked Immunosorbant Assay, Immunofluoroscence, Western Blot, Polymerase Chain Reaction, Imunohistochemistry, Others), by End User (Hospitals, Diagnostic Laboratories, Homecare, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global pneumonia testing industry was estimated at $1.6 billion in 2020, and is anticipated to hit $3.0 billion by 2030, registering a CAGR of 6.5% from 2021 to 2030.
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Drivers, restraints, and opportunities-
Increase in adoption of point of care (POC) testing and development in the field of nucleic acid detection across the world drive the growth of the global pneumonia testing market. On the other hand, cultures, the traditional method, are still mostly used to detect pneumonia causative organisms, which hampers the growth to some extent. However, rise in healthcare expenditure, presence of advanced healthcare infrastructure, and availability of reimbursements are anticipated to create lucrative opportunities in the industry.
Covid-19 scenario-
- Individuals suffering from Covid-19 are highly susceptible to pneumonia, and this factor impacted the global pneumonia testing market positively.
- Rise in R&D activities related to the treatment of Covid-19 associated pneumonia boosted the market growth yet more.
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The analyzers segment to dominate by 2030-
Based on types, the analyzers segment accounted for more than two-thirds of the global pneumonia testing market share in 2020, and is anticipated to rule the roost by 2030. Increase in the prevalence of pneumonia across the world drives the growth of the segment. The consumables segment, however, would cite the fastest CAGR of 7.0% throughout the forecast period, due to frequent usage of pneumonia tests.
The Point of Care testing segment to maintain the lion's share-
Based on method, the point of care testing segment held nearly three-fifths of the global pneumonia testing market revenue in 2020, and is expected to lead the trail by 2030. The same segment would also manifest the fastest CAGR of 6.9% from 2021 to 2030. Increase in the geriatric population, sedentary lifestyles, unhealthy food habits, and several environmental factors propel the segment growth.
North America garnered the major share in 2020-
Based on region, North America, held the major share in 2020, generating around two-fifths of the global pneumonia testing market. Prevalence of chronic diseases and emergence of advanced healthcare infrastructure across the region fuel the market growth. At the same time, the market across Asia-Pacific would grow at the fastest CAGR of 7.5% by 2030, due to rise in the geriatric population suffering from infectious diseases in the province.
Key players in the industry-
- Abbott Laboratories
- Thermo Fisher Scientific Inc.
- F-Hoffmann la Roche Ltd.
- Hologic Inc.
- BioMerieux
- Becton
- Quidel
- Dickenson and Company
- Meridian Biosciences
- Quest Diagnostics
- Bio-Rad Laboratories Inc.
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