Wilmington, Delaware, United States, March 14, 2023 (GLOBE NEWSWIRE) -- The global size was valued at US$ 662.6 Mn in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 3.8% from 2023 to 2031.
Launch of new pneumonia tests are helping leading market players gain an edge over other players and generate new revenue streams. In July 2020, bioMerieux SA announced the launch of a new test to help detect the presence of mycoplasma in biotherapeutic pharmaceutical products. Companies are collaborating with other players to expand their market presence and increase revenue share.
Pneumonia testing refers to medical examinations performed to detect the presence of pneumonia in any patient. Pneumonia is a disorder that causes inflammation in either one or both lungs in the human body. The elderly population has increased vulnerability to pneumonia as compared to the young population.
Some of the factors that can lead to pneumonia are reduced availability of safe drinking water, rise in prevalence of malnutrition, increase in air pollution levels, and reduced access to quality healthcare services, especially in countries suffering from poverty.
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Blood tests, imaging tests, sputum tests, and urine tests are some of the tests conducted to identify the presence of pneumonia in patients. Facilities that perform pneumonia tests include hospitals and clinics, diagnostic laboratories, and others.
Pneumonia Testing Market - Key Driving Factors
- Growth in incidence of pneumonia is leading to increase in need for early diagnosis and accurate testing, which is driving the global pneumonia testing market
- Advancements to existing pneumonia testing technologies, such as the adoption of nucleic acid detection in the testing procedures, are helping augment market growth
- Growth in adoption of home-based testing and telemedicine is likely to help expand pneumonia testing market size in the future
Key Findings of Market Study
- Increase in Prevalence of Bacterial Pneumonia: In terms of type, the global market has been trifurcated into bacterial, viral, and others. The bacterial segment is expected to account for a dominant market share in the next few years. Pneumonia usually occurs due to bacterial infections, such as Haemophilus influenzae. The bacterial form of pneumonia is also the most commonly found type and can be diagnosed by different laboratory tests, such as antigen tests, which would help identify the bacteria causing the pneumonia.
- Rise in Investments in Developing New Pneumonia Testing Techniques: There has been an increase in funding from governments to leading players for research and development activities to help develop efficient and precise pneumonia testing techniques. Additionally, governments are also focusing on expanding healthcare facilities by establishing hospitals and diagnostic centers with modern facilities. Rise in demand for improved pneumonia testing techniques is likely to help create business opportunities for leading market players in future.
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Pneumonia Testing Market - Key Players
The global pneumonia testing market is competitive, with the presence of several international and local players. If new players enter the market in the next few years, it is likely to intensify the competition.
Leading market players are investing significantly in R&D to develop improved pneumonia testing techniques. Increase in demand for advanced pneumonia testing techniques is likely to help create business opportunities for prominent companies in the near future.
Few key players operating in the market are Thermo Fischer Scientific Inc., BioMerieux SA, Siemens Healthcare, Becton, Dickinson and Co., and Quidel Corp.
Pneumonia Testing Market - Regional Insights
- North America is projected to account for dominant market share in the next few years. Increase in prevalence of pneumonia and rise in awareness about early diagnosis and testing in countries such as the U.S. and Canada are anticipated to drive market development in the region. Additionally, presence of developed healthcare facilities is expected to help increase the number of patients visiting hospitals and clinics for pneumonia tests and help business growth.
- Asia Pacific is estimated to witness significant growth in the market in the next few years due to surge in geriatric population and rise in government initiatives to raise awareness about pneumonia in countries such as India and China. Additionally, continuous improvements in healthcare facilities, especially in developing countries including India, are likely to attract more patients to visit hospitals and clinics for pneumonia tests, thereby helping the pneumonia testing industry to grow.
- The market in Europe is expected to witness strong growth in the future due to increase in hospitalization rates and growth in patient population in countries such as the U.K. and Germany
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The global market has been segmented as follows:
Test Type
- Blood Test
- Imaging Tests
- Sputum Tests
- Urine Tests
- Others
Type
- Bacterial
- Streptococcus
- Legionella
- Chlamydophilla
- Mycoplasma Pneumoniae
- Viral
- Others
End-user
- Hospitals & Clinics
- Diagnostic Laboratories
- Others
Region
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East & Africa
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