Pneumonia Testing Market Expected to Reach $3.0 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Pneumonia Testing Market," ThePneumonia Testing Market Size was valued at $1.6 billion in 2020, and is estimated to reach $3.0 billion by 2030, growing at a CAGR of 6.5% from 2021 to 2030.

Pneumonia is a type of lung infection caused by bacteria, such as the Streptococcus pneumonia virus, fungi, and parasites. In pneumonia, the air sacs of the lungs called alveoli are filled with fluid or pus that causes inflammation. The symptoms of pneumonia include short breathing, fever, chest pain, nausea & vomiting. However, these clinical symptoms overlap with many other diseases, such as asthma, bronchitis, and the common cold, making it difficult to diagnose pneumonia. Physicians recommend tests such as blood tests, sputum tests, pleural fluid cultures, and pulse oximetry tests to confirm the onset of pneumonia.

This disease is most prevalent in South Asia and African countries. The key factors that drive Pneumonia Testing Market Growth include an increase in technological advancement in pneumonia testing systems, such as the development of enhanced nucleic acid detection tests and advancement in point of care (POC) tests.

Moreover, an increase in awareness toward early diagnosis and a rise in government expenditures on healthcare fuel the market growth. However, the limited detection capability & accuracy of some of the pneumonia testing products and regulatory & economic hurdles hamper the market growth. Conversely, the surge in the adoption of molecular diagnostic testing and high untapped market potential in developing countries are anticipated to provide lucrative growth opportunities for the market.

The Pneumonia Testing Industry is segmented on the basis of method, technology, type & end-user region. In terms of method, it is classified into immunodiagnostics, molecular diagnostics, and point-of-care (POC) testing. By type, it is bifurcated into analyzers and consumables.  Based on technology, it is categorized into enzyme-linked immunosorbent assay (ELISA), immunofluorescence, western blot, polymerase chain reaction (PCR), immunohistochemistry (IHC), and others. Depending on the end-user, it is classified into hospitals, diagnostic laboratories, home care, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The POC testing segment was the major contributor to the market in 2020, due to multiple benefits offered by this technique, such as technological advancements, ease of use, and rapid results. The analyzers segment is estimated to register the highest growth rate during the forecast period, owing to t their frequent usage for pneumonia tests from 2020–to 2030.

Polymerase chain reaction registered the highest growth rate in the forecast period among the different technologies, as this test can identify the causative agent and accurately detect pneumonia in patients. Among the end-user, the hospital occupied the major share of the pneumonia testing market in 2021, due to a large number of patients suffering from pneumonia across the world.

Region-wise the Pneumonia Testing Market Analysis is done across North America, Europe, Asia-Pacific, and LAMEA, in 2020, North America accounted for the maximum Pneumonia Testing Market Share in 2020, owing to the rise in prevalence of pneumonia and a surge in technological advancements in various pneumonia testing products. However, Asia-Pacific is projected to grow at the highest CAGR during the forecast period, owing to an increase in investments by major companies in R&D activities.

KEY FINDINGS OF THE STUDY

• By the method, the point of care test was the highest contributor to the market in 2020.
• By technology, the enzyme-linked immunosorbent assay (ELISA) was the highest contributor to the Pneumonia Testing Industry in 2020.
• By type, the analyzers were the highest contributor to the market in 2020.
• By end-user, the hospitals were the highest contributor to the market in 2020.
• Region-wise, North America garnered the largest revenue share in 2020; however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.