Pneumonia Testing Market
Growth Factors of Pneumonia Testing Market
The pneumonia testing market size was valued at USD 639.9 billion in 2023, and the market is now projected to grow from USD 676.1 billion in 2024 to USD 122.0 billion by 2032, exhibiting a CAGR of 6.5% during the forecast period of 2023-2030.
Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the pneumonia testing market switched to treating covid patients as priority over the other procedures which led the market growth.
Pneumonia's rising prevalence and concerns about its mortality will fuel pneumonia testing market growth. Rising prevalence of pneumonia promoting market growth. Pneumonia is generally more common in the elderly and pediatric populations.
Increasing acceptance and use of point-of-care and rapid testing to set growth trajectories. Regarding the market trends for pneumonia testing, there has been a change in consumer preferences and a rise in the need for point-of-care diagnostics over time. There is an urgent demand for quick diagnostic tools due to the increased incidence of pneumonia. Convenience, speedier diagnosis, and better treatment results are some of the main advantages linked to the point-of-care testing market, which encourages both patient and healthcare professional adoption. The study compared a conventional diagnostic method with commercially available syndromic diagnostic testing platforms, such as Filmarray Pneumonia panel and Unyvero, and discovered that the former two products were more effective in detecting pneumonia.
Comprehensive Analysis of Pneumonia Testing Market
The pneumonia testing market and healthcare industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by product type, by type and by end users. The product types segmentation includes, Instruments and Reagents & Consumables while by Type segmentation includes Streptococcus-based, Legionella-based, Chlamydophila-based, Viral Pneumonia-based, Mycoplasma Pneumonia-based, and Others. However, the end users segmentation includes Hospitals & Clinics, Diagnostic Centers, and others.
The North America region lead the pneumonia testing market by benefitting a market size of USD 254.3 billion in 2023 due to significant number of instances of pneumonia, quick adoption of point-of-care technologies, advantageous reimbursement guidelines, the existence of large companies in the country, and the introduction of cutting-edge products.
The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, Quidel Corporation (U.S.), Abbott (U.S.), bioMérieux SA (France), Thermo Fisher Scientific Inc. (U.S.), INTEC (China), OpGen (U.S.), Meridian Bioscience, Inc. (U.S.), BD (Becton, Dickinson, and Company) (U.S.), Luminex Corporation (DiaSorin S.p.A.) (U.S.) these market players provide a level-playing competitive landscape.
In December 2023, For the purification and isolation of bacterial and viral pathogens from respiratory biological materials, Thermo Fisher Scientific, Inc. launched the KingFisher Apex Dx, an automated nucleic acid purification equipment, and the Applied Biosystems MagMAX Dx Viral/Pathogen NA Isolation Kit.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 6.5% from 2024-2032
Unit Value (USD Million)
Segmentation By Product Type
- Instruments
- Reagents & Consumables
By Type
- Streptococcus-based
- Legionella-based
- Chlamydophila-based
- Viral Pneumonia-based
- Mycoplasma Pneumonia-based
- Others
By End-user
- Hospitals & Clinics
- Diagnostic Centers
- Others
By Geography
- North America (Product Type, Type, End-user, and By Country)
- U.S.
- Canada
- Europe (Product Type, Type, End-user, and By Country/Sub-Region)
- Germany
- France
- U.K.
- Italy
- Spain,
- Russia
- Nordic
- Rest of Europe
- Asia Pacific (Product Type, Type, End-user, and By Country/Sub-Region)
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia Pacific
- Latin America (Product Type, Type, End-user, and By Country/Sub-Region)
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa (Product Type, Type, End-user, and By Country/Sub-Region)
- Turkey
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
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