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Navigating the Growth Trajectory of the Pneumonia Testing Market Toward a $3 Billion Future by 2030

12-06-2023 04:08 PM CET | Health & Medicine

Press release from: Allied Market Research

Pneumonia Testing Market

Pneumonia Testing Market

The global Pneumonia Testing Market demonstrated robust growth, reaching a valuation of $1.6 billion in 2020 and is poised to achieve a projected value of $3.0 billion by 2030, reflecting a commendable CAGR of 6.5% from 2021 to 2030. Pneumonia, a complex respiratory infection, impacts the lower respiratory tract, presenting symptoms such as shortness of breath, fever, chest pain, nausea, and vomiting. The market is driven by factors such as increased adoption of point-of-care (POC) testing, advancements in nucleic acid detection, and a growing geriatric population.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:

Market Drivers and Opportunities:

The primary catalyst propelling the Pneumonia Testing Market is the escalating adoption of point-of-care (POC) testing coupled with advancements in nucleic acid detection globally. Additionally, factors such as a rise in the geriatric population, advancements in pneumonia diagnostics, and an increased prevalence of pneumonia in children contribute to market growth. Moreover, heightened healthcare expenditure, well-established healthcare infrastructure, reimbursement availability, and the presence of key market players present significant opportunities for market expansion. However, reliance on traditional methods like cultures, which are time-consuming and prone to errors, poses a challenge to market growth.

Market Segmentation:

The Pneumonia Testing Industry is segmented based on method, technology, type, and end user.

Method Segment:

The point-of-care (POC) testing segment dominates the market and is anticipated to witness the highest CAGR due to the global prevalence of pneumonia.
Type Segment:

The analyzers segment holds the largest market share, driven by their widespread use in pneumonia tests.
Technology Segment:

The enzyme-linked immunosorbent assay (ELISA) segment is the market leader, fueled by the demand for advanced diagnostic techniques and the proliferation of contract research organizations (CROs).
End-user Segment:

Hospitals are the major contributors to market growth, driven by an increase in pneumonia cases and the rising demand for diagnostic tests globally.
Regional Analysis:

North America: The region boasts the highest Pneumonia Testing Market Share in 2020, attributed to an increase in chronic diseases, augmented healthcare expenditure, advanced healthcare infrastructure, reimbursement availability, and the presence of major market players.
Key Players:

The key players in the Pneumonia Testing Industry include Thermo Fisher Scientific Inc., Abbott Laboratories, F-Hoffmann la Roche Ltd., Hologic Inc., BioMerieux, Becton, Dickinson and Company, Bio-Rad Laboratories Inc., Meridian Biosciences, Quest Diagnostics, and Quidel.

𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲:

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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