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The pneumonia testing market size is estimated to grow at a CAGR of 5.3% between 2022 and 2027. The size of the market is forecast to increase by USD 709 million. The growth of the market depends on several factors, including the rising prevalence of pneumonia and concerns associated with pneumonia mortality, the development of advanced multiplex PC for pneumonia detection, and the rise in the geriatric population.
This pneumonia testing market report extensively covers market segmentation by product type (consumables and analyzers), method (immunodiagnostics, molecular diagnostics, and point-of-care testing), and geography (North America, Europe, Asia, and Rest of World). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising prevalence of pneumonia and concerns associated with pneumonia mortality are notably driving the market growth, although factors such as the lack of trained professionals may impede the market growth. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising prevalence of pneumonia and concerns associated with pneumonia mortality are notably driving the market research growth. A significant increase in the prevalence of pneumonia is expected to drive global market growth. Pneumonia is more common in children and the elderly. For instance, as per the article released by the United Nations International Children's Emergency Fund (UNICEF), there are about 1,400 instances of pneumonia per 100,000 people worldwide in 2020. As a result, the factors mentioned above are critical growth drivers for the global market.
Pneumonia is widely regarded as one of the most prevalent causes of hospitalization among all infectious illnesses. If the patient is discovered to be critically ill, he or she is hospitalized and further microbiological testing for pneumonia is performed. Several poverty-related factors, such as malnutrition, a lack of safe drinking water and sanitation, outdoor and interior air pollution, and insufficient access to healthcare, contribute to pneumonia-related mortality in poor countries. Thus, a sharp increase in pneumonia-related mortality has prompted developing-country governments to start efforts to enhance knowledge about pneumonia diagnosis to prevent deaths. Hence, such factors are expected to drive the growth of global market research during the forecast period.
The rising number of M&A and new product launches are emerging trends in the market. The new product additions will motivate consumers to purchase various pneumonia-testing products. Furthermore, the increasing number of product launches and M&A also increases the competition in the market, which, in turn, will lead to innovation and differentiation.
A few of the significant product developments in the market are in April 2021, Luminex Corp. (DiaSorin) and Lumos Diagnostics announced a partnership to launch LIAISON IQ, an immunoassay Point-of-Care (POC) platform that delivers cost-effective POC solutions in under 15 minutes, and in February 2021, Thermo Fisher Scientific announced the acquisition over Mesa Biotech Inc. (Mesa Biotech) to expand the molecular diagnostics segment of the company. Hence, such partnerships are expected to fuel the growth of the market in focus during the forecast period.
The lack of trained professionals is a major challenge impeding the market growth. Effective translation of diagnostics from research to application results in the correct diagnosis of diseases. Diagnosis of diseases requires extensive analysis to interpret the correct results. Therefore, clinical laboratories require trained specialists in this field. However, the presence of these specialists is scarce in diagnostic centers and hospitals worldwide.
Most rural hospitals across the world face issues such as the lack of patient volume required to justify having specialists. Furthermore, appointments of in-house specialists are cost-prohibitive, especially for small medical facilities. Limited public funds, the allocation of a small portion of this funding to laboratories, and an even smaller portion being allocated for quality assurance are some of the reasons for the lack of specialists in many developing countries. Therefore, end-users such as hospitals and diagnostic centers need to invest heavily to increase the number of trained professionals by providing training to their employees. This training and hiring of professionals increase the cost, which in turn, will hinder the growth of the global market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Pneumonia Testing Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Pfizer Inc.- The company operates under one segment. The company under this segment is engaged in the discovery, development, manufacturing, marketing, sales, and distribution of biopharmaceutical products worldwide. The key offerings of the company include pneumonia testing.
The market research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, robust, tentative, and weak.
The market share growth by the consumables segment will be significant during the forecast period. The consumables used for the detection of pneumonia contamination include kits and reagents such as PCR assays, nucleic acid detection kits, staining materials, elimination kits and reagents, standards, and controls.
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The consumables segment was valued at USD 1,070.45 million in 2017 and continued to grow until 2021. There is an increasing focus of vendors on developing consumables. For instance, Merck develops various products to identify pneumonia contamination. The company manufactures ready-to-use liquid and solid culture media that can detect pneumonia such as 146452 | HAYFLICK Liquid Med. acc. EP. The introduction of such cultural media in the market saves time and money for biopharmaceutical companies. Additionally, many companies develop assays designed to detect various types of pneumonia species, which can cause up to 95% of the eukaryotic cell culture contamination and has the potential to alter the phenotypic characteristics of the cells, which can lead to a negative impact on the results. Moreover, pneumonia does not respond to antibiotics. Hence, a highly sensitive and reliable detection method is preferred by pharmaceutical and biotechnology companies. For instance, R&D Systems manufactures a MycoProbe pneumonia detection kit, which permits high-throughput screening assay. It is highly sensitive and provides rapid test results within four and a half hours and does not require culturing in antibiotic-free media. Hence, the increasing focus of vendors on developing consumables such as kits and reagents used for pneumonia detection and the adoption of these consumables by various end-users are expected to positively impact the growth of the market in focus during the forecast period.
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North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is a dominating region in the global market, with the US and Canada as the leading revenue-generating countries. Increasing demand for timely and accurate diagnosis of lung infections and other infectious diseases and the presence of several pharmaceutical companies that are focusing on drug development is driving the adoption of pneumonia testing in the region. Moreover, several big pharmaceutical companies, such as bioMerieux, Pfizer, Roche, and several others, are conducting research to develop drugs and produce vaccines, which, in turn, has increased the demand for pneumonia tests for drug screening and other purposes. For instance, in 2021, Pfizer announced to receive approval from FDA for PREVNAR, 20 Pfizer's pneumococcal 20-valent conjugate vaccine for adults ages 18 years or older. Such developments and approvals are expected to drive the market growth of the regional market during the forecast period.
In addition, R&D investments have increased in the region. This resulted in the increased production of pharmaceutical products such as drugs, vaccines, and antibodies for the treatment of people suffering from various diseases, in turn, increasing the demand for pneumonia tests to monitor the production of such products. Furthermore, the pharmaceutical industry is growing in the region due to the need for drug discovery and is expected to reach USD 1 trillion by the end of 2023 due to the emergence of several fatal diseases, and rising demand for personalized medicine. The increasing emphasis on drug production will drive the growth of the market in North America during the forecast period.
The outbreak of COVID-19 surged the demand for pneumonia tests to detect the presence of SARS-CoV-2 antibodies. In 2020, the US was among the worst-hit country globally, with a total of about 18.91 million COVID-19 patients diagnosed. In addition, owing to growth in vaccine R&D procedures, the demand for pneumonia tests also increased across pharmaceutical companies and research laboratories in the region, which drove the revenue growth in the market in North America. Moreover, there has been continuous development in biotechnology in the region, which will propel the demand for pneumonia tests. Therefore, these factors are expected to contribute to the growth of the market in the region during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Pneumonia Testing Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.3% |
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Market growth 2023-2027 |
USD 709 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.13 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 32% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abbott Laboratories, Acumen Diagnostics Pte Ltd., Becton Dickinson and Co., bioMerieux SA, Bio Rad Laboratories Inc., Danaher Corp., Diamedica SIA, Hologic Inc., Laboratory Corp. of America Holdings, LGC Group, Meridian Bioscience Inc., OpGen Inc., Pfizer Inc., Quest Diagnostics Inc., Quidel Corp., Thermo Fisher Scientific Inc., Trinity Biotech Plc, Siemens AG, F. Hoffmann La Roche Ltd., and DiaSorin SpA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Method
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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