Jul 23, 2021
Global Pneumonia Testing Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at 9.5% through 2020 to 2026, reaching nearly US$ XX Mn.
The Global Pneumonia Testing Market report is a comprehensive analysis of the Technology, market, and key players. The report has covered the market by demand and supply-side by segments. The Pneumonia Testing Market report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Pneumonia Testing Market
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Global Pneumonia Testing Market Overview:
Blood tests are used for the detection of infection and to identify the type of organism triggering the infection. To confirm the identification Chest X-ray are further carried out. This further helps the physician to diagnose pneumonia and determine the extent and location of the infection in the lungs.
Global Pneumonia Testing Market Dynamics:
Pneumonia infection is affecting the lower respiratory system like air sacs of lungs known as alveoli, these sacks get infected and get filled with pus and this creates inflammation in lungs. This condition is caused by fungi, bacteria, viruses, and parasites. The global pneumonia testing market is likely to proliferate ominously due to the rising aging population, latest innovations in pneumonia diagnostics, and high frequency of pneumonia infection in offspring. UNICEF declared that pneumonia is a major factor causing death in children. In 2016, around 880,100 children under the age of five years died due to pneumonia infection. Children below 2 years of age have faced a major problem as compared to elderly.
South Asia and African countries are majorly affected by this infection. Moreover, the latest developments in pneumonia diagnostics like the development of nucleic acid detection tests for major pneumonia pathogens and immunochromatographic pneumococcal urinary antigen tests are driving the market in the forecast period of 2020-2026.
Global Pneumonia Testing Market Segment Analysis:
By Type, Consumables are dominating the pneumonia testing market. Consumables include beakers, test tubes, cuvettes, lab notebooks, glassware, and more can be used in various applications for testing purposes.
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By Technology, Enzyme-Linked Immunosorbent Assay (ELISA) is dominating the technology segment of the pneumonia testing market with 64.3% of market share in terms of revenue in 2020. Enzyme-Linked Immunosorbent Assay technique (ELISA) test is used in the detection of antibodies in an infected persons blood. An antibody is produced in the body by the immune system when the immune system detects foreign particles of a substance called an antigen.
Additionally, the occurrence of infectious diseases like dengue, hepatitis, AIDS, and neurological disorders, and cancer are further boosting the demand for Enzyme-Linked Immunosorbent Assay (ELISA) test in the forecast period of 2020-2026. The Enzyme-Linked Immunosorbent Assay (ELISA) test is also employed in toxicology, vaccine development, immunology, drug monitoring, transplants, pharmaceuticals, infectious diseases, cancer, protein quantitation, and various others. North America is a major region dominating ELISA technology due to excellent healthcare infrastructure and better research and development facilities.
By Method, Point of Care (POC) testing accounted for the highest revenue in 2019 and is projected to maintain the trend throughout the forecast period. The point of care (POC) Market was valued at USD 29.6 billion in 2020 and is estimated to reach USD 50.8 billion by 2026 with a CAGR of 11.5% in the forecast period of 2020-2026. An increase in the occurrence of infectious diseases is driving the point of care testing market in developing countries where healthcare facilities are growing and are equipped with less technological investments. And due to this cause clinics are highly adopting the point of care testing for the early detection of diseases and to initiate rapid diagnosis and this is estimated to fuel the market growth in the forecast period of 2020-2026.
Moreover, an insufficient point of a care facility in a professional setting is acting as a challenge as it needs skilled professionals like trained nurses, physicians, medical assistants. Moreover, these professionals are focusing on delivering fast treatment as hospitals have a huge number of patients. Further, the clinical person conducting the point of care testing is often inexperienced to perform analytics like calibration, sample collection, patient handling and this can hamper the market growth in the forecast period of 2020-2026.
By End-User, Diagnostic laboratories are dominating the end-user segment in Pneumonia testing market. Diagnostic laboratories are well equipped with the machinery and have high exposure to the patient. Moreover, diagnostic laboratories have well-trained technicians with high capital investment and provide maintenance. Furthermore, Pneumonia testing is also carried out in hospitals as hospitals have their testing laboratories and offer quick access to the patient for the testing and diagnosis to avoid traveling from one place to another for the pathology labs. Likewise, the quick availability of results is made and the treatment can be initiated.
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Global Pneumonia Testing Market Regional Insights:
North America is dominating the pneumonia testing market in terms of the regional segment in the forecast period of 2020-2026. The North American market is estimated to grow with an 8.2 % CAGR in the forecast period. Also high adoption of the latest technologies in the region moreover the research studies in the biopharmaceuticals and well-equipped healthcare infrastructure is further boosting the market. Additionally, North America has major dominating players like Danaher Corporation, Abbott Laboratories, Quidel Diagnostics, and Chembio Diagnostics, Becton Dickinson, and Company situated in the US. The major countries of North America are the US, Mexico, Canada boosting the pneumonia testing market due to the presence of elderly patients in the region.
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The objective of the report is to present a comprehensive analysis of the global Pneumonia Testing Market to the stakeholders in the Technology. The past and current status of the Technology with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the Technology with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the Technology to the decision-makers.
The report also helps in understanding the global Pneumonia Testing Market dynamics, structure by analyzing the market segments and project the global Pneumonia Testing Market size. Clear representation of competitive analysis of key players by Type price, financial position, Product portfolio, growth strategies, and regional presence in the global Pneumonia Testing Market make the report investor’s guide.
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Global Pneumonia Testing Market, by Region
• North America
• Asia Pacific
• The Middle East and Africa
• South America
Global Pneumonia Testing Market Key Players
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• F-Hoffmann la Roche Ltd.
• Hologic Inc.
• Dickenson and Company
• Bio-Rad Laboratories Inc.
• Meridian Biosciences
• Quest Diagnostics, and Quidel.
• Beckman Coulter
• Fast-track Diagnostics
• Trinity Biotech
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Published: Jul 23, 2021
Published: Jul 23, 2021
Published: Jul 23, 2021
Published: Jul 23, 2021