Pneumonia Testing Market Growth Drivers, Business Strategies and Future Prospects (2022-2027)

Pneumonia is one of the leading causes of fatalities in the world. As of 2019, the disease caused over 2.5 million deaths globally. Alarmingly, this toll grew even higher during the COVID-19 pandemic as the virus primarily targeted lungs. Such conditions pushed the healthcare industry stakeholders to develop faster and more effective methods of pneumonia diagnosis. The global pneumonia testing market is growing at a sound pace owing to such market trends. Point-of-care (POC) is being adopted rapidly as it is a fast, cost-effective, and accurate pneumonia testing method. It is enabling healthcare professionals to diagnose the disease in time. In addition, technologies such as enzyme-linked immunosorbent assay (ELISA) are further improving the effectiveness of the testing methods. Such factors are cumulatively leading the global pneumonia testing market to fruition.

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Robust Adoption of Point-of-Care (POC) Testing to Sustain Global Pneumonia Testing Market Expansion

Market players in the global pneumonia testing market are consistently aiming to improve healthcare delivery. To this end, point-of-care (POC) testing is gaining traction as it aids healthcare professionals in swiftly identifying pneumonia. This testing method is favoured as a quicker diagnosis of pneumonia is desirable for timely treatment. As the prevalence of pneumonia keeps growing, the employment of the POC testing method is projected to increase substantially. A growing number of consumers are also preferring this testing method as it is cost-effective and faster than traditional pneumonia tests. Such a business landscape is expected to lead the global pneumonia testing market to sound growth.

Tech Innovations such as Enzyme-Linked Immunosorbent Assay (ELISA) Creating New Growth Possibilities

The rising incidence of pneumonia is incentivising rapid research and development activities to improve the quality of healthcare services. The enzyme-linked immunosorbent assay (ELISA) is one such technology that is poised to dominate the global pneumonia testing market. Several diseases including dengue, hepatitis, neurological disorders, AIDS, and cancer is contributing to significant demand for ELISA. The technology finds its application in vaccine development, toxicology, immunology, transplantation, drug monitoring, pharmaceuticals, cancer, and protein quantification among others. As the overall healthcare infrastructure improves, the penetration of such technologies is expected to proliferate. Against this backdrop, the global pneumonia testing market is projected to grow tremendously.

Presence of Robust Healthcare Infrastructure to Establish North America as Market Leader

The rising incidence of chronic diseases, potent healthcare infrastructure, and higher healthcare expenditure are some of the key reasons behind North America's dominance in the pneumonia testing market. Moreover, the region was one of the worst affected regions during the COVID-19 pandemic. This has rejuvenated the general public's focus on healthcare, persuading them to get tested early on. On the other end of the globe, Asia Pacific is also showcasing an upsurge in the pneumonia testing market. This is mainly due to improvements in healthcare technology outreach and high pneumonic fatalities among children under five years of age in the region.

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Prominent Market Players

The most competitive entities participating in the global pneumonia testing market include Abbott Laboratories, Thermofischer Inc, F.hoffman La Roche, Biomerieux SA, Hologic Inc, Bio-Rad Laboratories, Quidel Corporation, AdvanDx, Beckman Coulter, and Beckton and Dickinson Company.

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