Newark, New Castle, USA, July 04, 2023 (GLOBE NEWSWIRE) -- According to the latest analysis by Growth Plus Reports, the global pneumonia testing market was estimated to be valued at US$ 635.7 million in 2022. It is anticipated to witness a notable growth trajectory, with a projected revenue CAGR of 6.2%. By the year 2031, the market is poised to surpass the US$ 1,092.4 million mark.
The global market for pneumonia testing was analyzed, and it is expected to rise significantly during the forecast period. An examination for pneumonia, a lung infection that causes inflammation of the lungs, is referred to as pneumonia testing.
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Pneumonia Testing Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 635.7 million |
| Market Size Value in 2031 | US$ 1,092.4 million |
| Growth Rate | CAGR of 6.2% from 2023 to 2031 |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Type, Test Type, Method, Technology, End User, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Key Takeaways:
- The rising prevalence of pneumonia is driving the market revenue share.
- The high sensitivity and reliability of these devices are boosting the demand for the products.
- Advancements in technology and rising R&D activity are creating a strong product pipeline.
Recent Development in the Global Pneumonia Testing Market:
- In September 2021, To identify the main pathogens linked to atypical pneumonia, CerTest Biotec developed and validated its CE-IVD multiplex test VIASURE C. pneumoniae, M. pneumoniae, and L. pneumophila real-time PCR kit.
Competitive Landscape
Following is a list of the top market players operating in the global market for pneumonia testing:
- Becton, Dickinson, and Company
- Meridian Bioscience Inc
- Qiagen N.V.
- Thermo Fisher Scientific Inc.
- Alere Inc.
- Quidel Corporation
Market Drivers and Restraints:
Increased acceptance of point of care (POC) testing and advancements in the field of nucleic acid detection globally are the major factors influencing the revenue growth of the global market for pneumonia testing. The rise in the elderly population, the explosion in diagnostic advancements for pneumonia, and the incidence of pneumonia in children around the world all contribute to the market revenue expansion.
However, due to reliability concerns, diagnostic centers and hospitals still prefer the traditional method, which is expected to restrain the revenue growth of the global pneumonia testing market.
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Market Segmentation:
Segmentation By Type
Based on platform type, the global pneumonia testing market is segmented into bacterial, viral, and others. Due to the high infection rates of Streptococcus pneumoniae easy detection methods, the bacterial segment accounts for the largest market revenue share. The bacterial segment is further sub-segmented into Streptococcus, Legionella, Chlamydophila, and Mycoplasma.
Segmentation By Test Type
Based on the test type, the global pneumonia testing market is segmented into blood tests, sputum tests, urine tests, and others. The blood test segment accounts for the largest revenue share due to the precise results.
Segmentation By Method
Based on the method, the global pneumonia testing market is segmented into immunodiagnostic, molecular diagnostic, and point-of-care (POC) testing. The point-of-care (POC) testing segment accounts for the largest revenue share due to quick and accurate results with the requirement of a small amount sample.
Segmentation By Technology
Based on the technology, the global pneumonia testing market is segmented into enzyme-linked immunosorbent assay (ELISA), immunofluorescence, immunohistochemistry (IHC), polymerase chain reaction (PCR), and others. The enzyme-linked immunosorbent assay (ELISA) segment accounts for the largest revenue share due to its excellent sensitivity and specificity, requirement small amount of sample, and affordability.
Segmentation By End User
Based on the end user, the global pneumonia testing market is segmented into hospitals, diagnostic centers, and others. The hospital segment accounts for the largest revenue share due to the large number of patients, advanced healthcare infrastructure, and need for precise results for quick treatment.
Regional Growth Dynamics
Based on the region, the global pneumonia testing market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to the high prevalence of pneumonia, high demand for precision diagnostics, and cutting-edge lab facilities, North America accounts for the largest revenue share in the global market.
Report Coverage
Growth Plus Reports studied the global market for pneumonia testing in-depth. Basic market features, important investment sectors, analyses of regional growth, revenue projections, rival market participants, and mergers and acquisitions were all examined.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecast Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL PNEUMONIA TESTING MARKET - ANALYSIS & FORECAST, BY TYPE
- Bacterial
- Streptococcus
- Legionella
- Chlamydophila
- Mycoplasma
- Viral
- Others
- Bacterial
- GLOBAL PNEUMONIA TESTING MARKET - ANALYSIS & FORECAST, BY TEST TYPE
- Blood Test
- Sputum Test
- Urine Test
- Others
- GLOBAL PNEUMONIA TESTING MARKET - ANALYSIS & FORECAST, BY METHOD
- Immunodiagnostic
- Molecular Diagnostic
- Point-of-Care (POC) Testing
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VALUE PROPOSITIONS RELATED TO THE REPORT:
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- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
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- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.
CUSTOMIZATION OPTIONS:
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- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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