Overview of the global pneumonia testing market
Market research analysts at Technavio predict that the global pneumonia testing market will grow steadily during the next four years and post a CAGR of almost 10% by 2021. This market research analysis identifies the rising popularity of point-of-care (POC) testing as one of the primary growth factors for this market. Due to the decreased time latency between diagnosis and treatment, the recent years witnessed an increase in the demand for POC testing since they facilitate data storage, data sharing, and communication with public health agencies. The rise in demand for POC testing is inducing vendors to make huge R&D investments and also focus on acquiring other companies to broaden their product portfolio. For instance, the global vendor Abbott is currently planning to acquire Alere, which currently dominates POC testing for pneumonia testing market with its BinaxNOW Streptococcus pneumoniae antigen card for bacterial pneumonia and BinaxNOW RSV Card for viral pneumonia, which will help Abbott become the leader in POC testing for pneumonia. Such practices will increase market competition and lead to the availability of more point of care testing products for pneumonia, consequently aiding market growth in the coming years.
This market research and analysis estimates that in terms of geographical regions, the Americas will be the major revenue contributor to the market throughout the predicted period. Factors such as the growth in awareness among the public about children's health and the launch of innovative products will significantly drive market growth in this region.
Competitive landscape and key vendors
The market is characterized by the
Overview of the global anatomic pathology testing market
According to the Technavio’s analyst, the global anatomic pathology testing market is anticipated to grow at a steady rate and will post a CAGR of more than 8% during the forecast period. The increasing use and efficiency of biomarkers in the diagnosis of various disease will drive the growth prospects of the global anatomic pathology testing market until the end of 2021. It has been observed that biomarkers are increasingly used in various clinical studies in the areas of proteomics, genomics, transcriptomics, and metabolomics to evaluate pharmacological, physiological, and disease processes. At present, biomarkers are increasingly used for cancer diagnostics, and some of the common biomarkers used for cancer detection are keratins, vimentin, S100protein, CD45, CD3, CD20, CD30, TTF-1, CDX2, BRST-2, HMB-45, RCC, and HEPAR1. Consequently, the volume of biomarker analysis for various disease diagnosis processes will increase in the coming years, which will accelerate the rate of sales of tissue diagnostic products.
In terms of geography, the Americas accounted for the majority market share during 2016 and will continue to dominate the market for the next four year. One of the major factors responsible for the market’s growth in the region is the growing
Overview of the global SMBG strips market
According to the Technavio’s analyst, the global SMBG strips market is anticipated to grow rapidly and will post a CAGR of close to 12% during the forecast period. The availability of reimbursements will drive the growth prospects for the global SMBG strips market until the end of 2021. Since diabetes testing equipment, blood glucose test strips, and blood glucose meters are quite expensive, various health insurance plans in the US market provide reimbursement policies to cover the cost of these instruments. For instance, one of the leading insurance companies in the US is Medicare and it covers approximately 80% of the cost of BGM devices. Such reimbursement facilities encourage individuals with diabetes to purchase BGM devices, which boosts the sales volume of these devices and accelerate the rate of revenue generation in the market.
The availability of test strips produced from Indian silk will drive the growth prospects for the global SMBG strips market for the next four years. In general, diabetes test strips are produced from plastic or paper. However, recent studies have shown that the production of tests strips from silk is a lot more simpler and has got strong antibacterial properties. In addition, the manufacturing of tests strips from silk reduces the need for embedded electrodes as it has the potential to transmit the electrical signals with enzyme coating alone unlike other test strips that require enzymes as well as electrodes.
Competitive landscape and key vendors
The global blood glucose strips market is highly competitive and diversified due to the presence of a large number of regional and
Overview of the global coagulation testing market
The global coagulation testing market is anticipated to grow at a steady rate and will post a CAGR of more than 6% during the forecast period. The increasing penetration of point-of-care testing (POCT) devices in developed countries will drive the growth prospects for the global coagulation testing market in the forthcoming years. One of the major factors responsible for the growing demand for POCT coagulation devices is the reimbursement system in Europe. Also, the increasing need for free services including diagnostic and therapeutic techniques, preventive care, and better technology and equipment will further drive the growth rate of the market.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market for the next four years. One of the major factors responsible for the market’s growth in the region is the increasing aging population, pulmonary embolisms, stroke, and myocardial infarctions caused by blood clots.
Competitive landscape and key vendors
The global coagulation testing market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. These vendors are increasingly focusing on product development and marketing strategies to improve their market position.
Key vendors in this market are -
- Roche Diagnostics
- Abbott Laboratories
- Siemens Healthcare
Overview of the global MRSA testing market
The global MRSA testing market is anticipated to grow rapidly and will post a CAGR of more than 11% during the forecast period. The increasing demand for automation and system integration will drive the growth prospects for the global MRSA testing market for the next four years. Since fully automated and semi-automated systems in laboratories enable the doctors to carry out large volumes of tests, the productivity of the health care units improve. Since these systems allow end-users to efficiently handle large test volumes, the results obtained are more accurate and the overall workflow becomes more efficient. For instance, these system's software and graphical user interface (GUI) allow streamlined information management and offer solutions ranging from remote test ordering to sophisticated result analysis.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market until the end of 2021. One of the major factors responsible for the market’s growth in the region is the presence of several vendors headquartered in the Americas that provide advanced treatment options. Also, the region is witnessing a high adoption rate of MRSA testing procedure for the diagnosis of various types of infections. Moreover, the market is witnessing an increasing support from the government and private organizations to carry out advanced research activities that involve assays and instruments, which, in turn, will accelerate the market’s growth in the future.
Overview of the global immunodiagnostics market
The global immunodiagnostics market is anticipated to grow at a steady rate and will post a CAGR of close to 8% during the forecast period. The increasing adoption of point-of-care testing (POCT) will drive the growth prospects for the global immunodiagnostics market until the end of 2021. Some of the life-threatening conditions that need serious attention include sepsis and acute cardiac infarction. Such serious conditions with high mortality rate drive the necessity for POCT, which, in turn, boosts the demand for immunodiagnostics testing. One of the areas of focus for traditional and non-traditional healthcare companies are POCT for cardiovascular biomarkers. Also, POCT is fast, accurate, portable, and simple to interpret, which helps healthcare providers in alternative healthcare settings. Moreover, the cost of POCT is very low because of its small capillary tubes that need fewer reagents.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market for the next four years. The demand for diagnostic products and services in the region is growing because of factors such as the fast-growing elderly population and the high prevalence of chronic and infectious diseases. Also, the rising awareness of the diseases among consumers compels them to undergo regular tests and check-ups, which improves the sales of immunodiagnostic products in the US. Furthermore, increased FDA approval, shift to point-of-care (POC) rapid diagnostic tests and a rise in laboratory
In-vitro diagnostics is one of the fastest-growing sectors in healthcare. Cost-containment strategies by healthcare entities have led to an increased focus on early diagnosis, preventive medicine, and personalized medicine.
This move towards preventive and personalized medicine is driving the adoption of in-vitro diagnostics, and vendors are focusing on developing tests for a wide range of applications for hospitals and laboratories, as well as for home care. The presence of a high number of market participants has significantly intensified competition.