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Pneumonia Testing Market size is set to grow by USD 807.5 million from 2024-2028, rising prevalence of pneumonia and concerns associated with pneumonia mortality boost the market, Technavio

NEW YORK, June 18, 2024 /PRNewswire/ -- The global pneumonia testing market size is estimated to grow by USD 807.5 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.69%  during the forecast period. Rising prevalence of pneumonia and concerns associated with pneumonia mortality is driving market growth, with a trend towards growing importance of promotional activities. However, poor healthcare infrastructure in developing economies  poses a challenge. Key market players include Abbott Laboratories, Acumen Diagnostics Pte Ltd., Becton Dickinson and Co., bioMerieux SA, Bio Rad Laboratories Inc., Danaher Corp., Diamedica SIA, DiaSorin SpA, F. Hoffmann La Roche Ltd., Hologic Inc., Laboratory Corp. Of America Holdings, LGC Science Group Holdings Ltd., Meridian Bioscience Inc., OpGen Inc., Pfizer Inc., Quest Diagnostics Inc., Quidelortho Corp., Siemens AG, Thermo Fisher Scientific Inc., and Trinity Biotech Plc.

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Pneumonia Testing Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.69%

Market growth 2024-2028

USD 807.5 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.3

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 31%

Key countries

US, China, Germany, UK, and Japan

Key companies profiled

Abbott Laboratories, Acumen Diagnostics Pte Ltd., Becton Dickinson and Co., bioMerieux SA, Bio Rad Laboratories Inc., Danaher Corp., Diamedica SIA, DiaSorin SpA, F. Hoffmann La Roche Ltd., Hologic Inc., Laboratory Corp. Of America Holdings, LGC Science Group Holdings Ltd., Meridian Bioscience Inc., OpGen Inc., Pfizer Inc., Quest Diagnostics Inc., Quidelortho Corp., Siemens AG, Thermo Fisher Scientific Inc., and Trinity Biotech Plc

Market Driver

The diagnostic market for pneumonia tests faces unique challenges due to the specialized nature of the products and limited end-user awareness. Vendors focus on expanding distribution networks and increasing product availability. Thermo Fisher Scientific and Bio-Rad Laboratories utilize YouTube channels for product explanation, reaching 140.84 million and 1.2 million subscribers, respectively. Non-profit organizations conduct workshops to enhance awareness. Market growth is anticipated as vendors recognize the importance of promotional activities. 

The pneumonia testing market is experiencing significant growth due to the increasing number of cases worldwide. Lung functions, cultures, and imaging tests such as X-rays and CT scans are commonly used for diagnosis. Preventive measures like vaccines and antimicrobial treatments are crucial in managing this condition. The market for point-of-care tests is expanding, providing quicker and more accurate results. Additionally, advances in technology, like artificial intelligence and machine learning, are improving diagnostic accuracy and efficiency. Overall, the pneumonia testing market is a vital sector in healthcare, ensuring early detection and effective treatment. 

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Market Challenges

  • In developing economies, limited healthcare infrastructure and budget constraints hinder the widespread use of advanced medical devices for pneumonia testing. Countries like India, China, and Brazil face healthcare challenges, including disparities in access to resources and increased patient dissatisfaction. The lack of research and development in cost-effective technologies and medical devices further hinders market growth. During the COVID-19 pandemic, the shortage of devices like pulse oximeters, ventilators, and BiPAP machines led to higher mortality rates among COVID-19 patients. Inadequate healthcare infrastructure and services result in lower quality treatment and lower life expectancy, reducing the need for pneumonia testing devices.
  • The Pneumonia Testing Market faces several challenges in providing accurate and timely diagnoses. Antibiotics and fungal agents are common causes of pneumonia, requiring specific testing methods. Consumptives and chronic obstructive pulmonary disease patients are at risk, making early detection crucial. However, current tests such as chest X-rays and blood tests have limitations. Culture and sensitivity tests take time, while rapid tests may not be sensitive enough. Additionally, point-of-care tests for specific pathogens are not widely available. To address these challenges, research and development efforts are focused on creating more accurate and faster testing methods, including molecular and biomarker-based tests. These advancements could significantly improve patient outcomes and reduce healthcare costs.

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Segment Overview 

This pneumonia testing market report extensively covers market segmentation by  

  1. Product Type
    • 1.1 Consumables
    • 1.2 Analyzers
  2. Method 
    • 2.1 Immunodiagnostics
    • 2.2 Molecular diagnostics
    • 2.3 Point-of-care testing
  3. Geography 
    • 3.1 North America
    • 3.2 Europe
    • 3.3 Asia
    • 3.4 Rest of World (ROW)



1.1 Consumables-  The Pneumonia Testing Market involves the use of various consumables for detecting contamination, including kits and reagents such as PCR assays, nucleic acid detection kits, staining materials, elimination kits and reagents, standards, and controls. Vendors like Meridian Bioscience Inc. Provide reliable pneumonia detection kits with repurchasable assays. Companies develop assays to detect different pneumonia species, which can cause up to 95% of cell culture contamination. Highly sensitive and rapid detection methods, like R and D Systems' MycoProbe kit, are preferred due to pneumonia's resistance to antibiotics. The market's growth is driven by vendors introducing new consumables and their adoption by end-users.

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Research Analysis

The Pneumonia Testing Market encompasses various diagnostic tools and techniques for the detection of pneumonia in both the geriatric population and children. Traditional methods, such as cultures, although effective, are time-consuming and come with a high error rate. The healthcare industry is witnessing a shift towards more advanced technologies, including nucleic acid detection and immunofluorescence, for faster and more accurate results. Factors contributing to the rising demand for pneumonia testing include the prevalence of pneumonia, sedentary lifestyles, unhealthy food habits, and environmental factors. The Pneumonia Testing Industry is witnessing significant growth due to the increasing healthcare expenditure and the need for reimbursements. Point-of-care (POC) testing and analyzers are gaining popularity due to their convenience and cost-effectiveness. Guidelines from organizations like the American Thoracic Society (ATS), Infectious Diseases Society of America (IDSA), and the CAP are driving the development of new technologies for pneumonia diagnostics. Companies are investing in the production of consumables for these advanced testing methods, with Curetis and GE Healthcare being notable contributors in the field of pneumonia diagnostics. The Thoracic Care Suite from GE Healthcare, for instance, is a comprehensive solution for the diagnosis and treatment of pneumonia, featuring tests for Streptococcus pneumoniae and other common pathogens. The prevalence of pneumonia, particularly in the elderly population, is a significant concern, making the advancements in pneumonia testing a crucial development in the healthcare sector.

Market Research Overview

The Pneumonia Testing Market encompasses various diagnostic techniques used to identify and distinguish different types of pneumonia. These tests include culture and sensitivity, chest X-ray, blood tests, and imaging techniques such as CT scans and MRI. The market is driven by the increasing prevalence of pneumonia, particularly in the elderly and those with underlying health conditions. Additionally, the growing awareness of early diagnosis and treatment, as well as advancements in diagnostic technology, are contributing to market growth. The market is segmented based on product type, end-user, and region. The global Pneumonia Testing Market is expected to grow significantly in the coming years due to these factors.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

  • Product Type
    • Consumables
    • Analyzers
  • Method
    • Immunodiagnostics
    • Molecular Diagnostics
    • Point-of-care Testing
  • Geography
    • North America
    • Europe
    • Asia
    • Rest Of World (ROW)



7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/

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SOURCE Technavio

By: PR Newswire Association LLC. - 19 Jun 2024
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