At 6% CAGR, Pneumonia Testing Market Size to Hit USD 912.5 Million by 2029

·7 min read
Fortune Business Insights
Fortune Business Insights

According to Fortune Business Insights, the global Pneumonia Testing Market size is projected to grow from USD 606.6 Billion in 2022 to USD 912.5 billion in 2029

Pune, India, Aug. 16, 2022 (GLOBE NEWSWIRE) -- The global pneumonia testing market size hit USD 557.1 million in 2021. The market valuation is slated to rise from USD 606.6 million in 2022 to USD 912.5 million by 2029, recording 6% CAGR during 2022-2029. This information is provided by Fortune Business Insights in its report titled “Pneumonia Testing Market, 2022-2029”.

Key Industry Development:

April 2022: bioMérieux SA acquired Specific Diagnostics, a company that developed a rapid Antimicrobial Susceptibility Test (AST) system that directly delivers phenotypic AST from positive blood cultures.


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Report Scope

Report Coverage

Details

Forecast Period

2022 to 2029

Forecast Period 2022 to 2029 CAGR

6 %

2029 Value Projection

USD 912.5 Billion

Base Year

2021

Market Size in 2022

USD 606.6 Billion

Historical Data for

2018 to 2020

                        

Regional Insights:

The North American Market Stood at USD 221.4 Million in 2021

North America dominated the pneumonia testing market share in 2021 with USD 221.4 million. The region will continue to hold the dominant market share through 2029 led by growing pneumonia cases, rapid adoption of point-of-care technologies, and supportive reimbursement policies.

The European market holds the second-largest market share and will experience growth led by growing number of hospital admissions related to pneumonia. Meanwhile, the market in Asia Pacific will grow on account of a large geriatric population.


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Drivers & Restraints:

Widespread Prevalence of Pneumonia to Boost Market Growth   

The prevalence of pneumonia among the world's population is the main factor fueling the market expansion. Growing prevalence of the illness, increased complications, and other health issues among pneumonia sufferers may open up new prospects for market expansion. The respective public health organizations’ ongoing initiatives to increase pneumonia testing will have a beneficial effect on the market dynamics in the years to come.

However, wide use of x-ray for pneumonia detection may hamper the market prospects.

COVID-19 Impact:

Viral Pneumonia Cases Surged While Community-acquired Cases Dropped during Pandemic    

The COVID-19 pandemic had a dual impact on the pneumonia testing market growth. An increase in viral pneumonia cases was seen during the pandemic. This increased the number of microbiological tests performed on individuals with COVID-19-induced pneumonia to check for co-infection. However, due to stringent lockdown guidelines, the incidence of community-acquired pneumonia decreased.


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Segments: 

By Product Type, Reagents & Consumables to Experience High Demand through 2029

In terms of product type, the market is divided into reagents & consumables and instruments. The reagents & consumables segment is projected to hold the dominant share during 2022-2029 owing to increasing R&D surrounding pneumonia. On the other hand, the instruments segment will record notable gains by 2029.

By Type, Streptococcus-based Pneumonia Segment to See Monumental Surge by 2029

Based on type, the market is segmented into legionella-based, streptococcus-based, mycoplasma pneumonia-based, viral pneumonia-based, chlamydophila-based, and others. The streptococcus-based segment is expected to capture the major market share over 2022-2029 led by growing occurrence of community-acquired pneumonia.

By End-user, Hospitals & Clinics to Witness Increased Pneumonia Diagnostics Demand over 2022-2029

According to end-user, the market is trifurcated into diagnostic centers, hospitals & clinics, and others. The hospitals & clinics segment will see increased pneumonia testing & diagnosis in the coming years owing to increasing hospitalization rate due to bacterial pneumonia.

Segmentation

 

By Product Type

  • Instruments

  • Reagents & Consumables

 

By Type

  • Streptococcus-based

  • Legionella-based

  • Chlamydophila-based

  • Viral Pneumonia-based

  • Mycoplasma Pneumonia-based

  • Others

 

By End-user

  • Hospitals & Clinics

  • Diagnostic Centers

  • Others


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Report Coverage:

The report offers:

  • Major growth drivers, restraining factors, opportunities, and potential challenges for the market.

  • Comprehensive insights into the regional developments.

  • List of major industry players.

  • Key strategies adopted by the market players.

  • Latest industry developments include product launches, partnerships, mergers, and acquisitions.

Competitive Landscape

Key Players Focus on Partnerships to Gain a Competitive Advantage

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio. 


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List of Key Players Profiled in the Report

  • Quidel Corporation (U.S.)

  • Abbott (U.S.)

  • bioMérieux SA (France)

  • Thermo Fisher Scientific Inc. (U.S.)

  • INTEC (China)

  • OpGen (U.S.)

  • Meridian Bioscience, Inc. (U.S.)

  • BD (Becton, Dickinson, and Company) (U.S.)

  • Luminex Corporation (DiaSorin S.p.A.) (U.S.)

Table of Content from Pneumonia Testing Market:

  • Introduction

    • Research Scope

    • Market Segmentation

    • Research Methodology

    • Definitions and Assumptions

  • Executive Summary

  • Market Dynamics

    • Market Drivers

    • Market Restraints

    • Market Opportunities

    • Market Trends

  • Key Insights

    • Prevalence/Incidence of Pneumonia, By Key Countries

    • Key Industry Developments

    • New Product Launches

    • Overview: Technological Advancements in Pneumonia Testings

    • Regulatory & Reimbursement Scenario, By Key Regions

    • Impact of COVID-19 on Global Pneumonia Testing Market

  • Global Pneumonia Testing Market Analysis, Insights and Forecast, 2018-2029

    • Market Analysis, Insights and Forecast – By Product Type

      • Instruments

      • Reagents & Consumables

    • Market Analysis, Insights and Forecast – By Type

      • Streptococcus-based

      • Legionella-based

      • Chlamydophila-based

      • Viral Pneumonia-based

      • Mycoplasma Pneumonia-based

      • Others

    • Market Analysis, Insights and Forecast – By End-User

      • Hospitals & Clinics

      • Diagnostic Centres

      • Others

    • Market Analysis, Insights and Forecast – By Region

      • North America

      • Europe

      • Asia Pacific

      • Latin America

      • Middle East & Africa

  • North America Pneumonia Testing Market Analysis, Insights and Forecast, 2018-2029

    • Market Analysis, Insights and Forecast – By Product Type

      • Instruments

      • Reagents & Consumables

    • Market Analysis, Insights and Forecast – By Type

      • Streptococcus-based

      • Legionella-based

      • Chlamydophila-based

      • Viral Pneumonia-based

      • Mycoplasma Pneumonia-based

      • Others

    • Market Analysis, Insights and Forecast – By End-User

      • Hospitals & Clinics

      • Diagnostic Centres

      • Others

    • Market Analysis, Insights and Forecast – By Country

      • U.S.

      • Canada

  • Europe Pneumonia Testing Market Analysis, Insights and Forecast, 2018-2029

    • Market Analysis, Insights and Forecast – By Product Type

      • Instruments

      • Reagents & Consumables

    • Market Analysis, Insights and Forecast – By Type

      • Streptococcus-based

      • Legionella-based

      • Chlamydophila-based

      • Viral Pneumonia-based

      • Mycoplasma Pneumonia-based

      • Others

    • Market Analysis, Insights and Forecast – By End-User

      • Hospitals & Clinics

      • Diagnostic Centres

      • Others

    • Market Analysis, Insights and Forecast – By Country/ Sub-Region

      • Germany

      • France

      • U.K.

      • Italy

      • Spain

      • Russia

      • Nordic

      • Rest of Europe

  • Asia Pacific Pneumonia Testing Market Analysis, Insights and Forecast, 2018-2029

    • Market Analysis, Insights and Forecast – By Product Type

      • Instruments

      • Reagents & Consumables

    • Market Analysis, Insights and Forecast – By Type

      • Streptococcus-based

      • Legionella-based

      • Chlamydophila-based

      • Viral Pneumonia-based

      • Mycoplasma Pneumonia-based

      • Others

    • Market Analysis, Insights and Forecast – By End-User

      • Hospitals & Clinics

      • Diagnostic Centres

      • Others

    • Market Analysis, Insights and Forecast – By Country/ Sub-Region

      • China

      • Japan

      • South Korea

      • Southeast Asia

      • India

      • Australia

      • Rest of Asia Pacific

  • Latin America Pneumonia Testing Market Analysis, Insights and Forecast, 2018-2029

    • Market Analysis, Insights and Forecast – By Product Type

      • Instruments

      • Reagents & Consumables

    • Market Analysis, Insights and Forecast – By Type

      • Streptococcus-based

      • Legionella-based

      • Chlamydophila-based

      • Viral Pneumonia-based

      • Mycoplasma Pneumonia-based

      • Others

    • Market Analysis, Insights and Forecast – By End-User

      • Hospitals & Clinics

      • Diagnostic Centres

      • Others

    • Market Analysis, Insights and Forecast – By Country/ Sub-Region

      • Brazil

      • Mexico

      • Rest of Latin America

TOC Continued…

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