The global pneumonia diagnostics market is projected to experience significant growth, with an expected valuation of USD 521.1 million by the end of 2022. This market is forecasted to expand at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2032, reaching approximately USD 899.4 million by 2032. The rising prevalence of pneumonia and the increasing need for early detection are key factors driving demand for pneumonia diagnostics.
With a high prevalence of morbidity and mortality, pneumonia is a global health concern. A major obstacle to traditional microbiological methods is identifying the microbial pathogens that cause lung infections, which is essential for the best therapeutic treatment of pneumonia patients.
Microbiological detection of respiratory pathogens has significantly improved in recent years due to the development and application of molecular diagnostic techniques for pneumonia. However, our current understanding of pneumonia is no longer entirely feasible due to new information on the microbiome and the lungs, which provide a dynamic microbiological ecosystem. This is because the new understanding of pneumonia requires altering the lung microbiome.
Key Market Insights
- Market Growth: The pneumonia diagnostics market is expected to grow substantially due to a combination of factors, including the aging population, rising incidences of chronic diseases, and environmental influences such as air pollution.
- Driving Factors:
- Prevalence of Pneumonia: The increasing number of pneumonia cases globally necessitates effective diagnostic solutions for timely treatment.
- Early Detection Needs: There is a growing awareness regarding the importance of early diagnosis in managing pneumonia effectively, especially in vulnerable populations such as children and the elderly.
- Product Segmentation:
- The streptococcus-based segment dominated the market with a share of about 36.2% in 2021, and this trend is expected to continue throughout the forecast period. This segment’s prominence is attributed to the high incidence of Streptococcus pneumoniae infections.
Market Position within In Vitro Diagnostics
- The overall pneumonia diagnostics market constituted approximately 0.6% of the global in vitro diagnostics market, which was valued at USD 76.3 billion in 2021. This indicates a niche but growing segment within the broader diagnostics landscape.
Regional Dynamics
- North America: Expected to dominate the pneumonia diagnostics market due to advanced healthcare infrastructure and high disease burden. The region’s focus on improving patient outcomes through effective diagnostic strategies supports its leading position.
- Asia-Pacific: Anticipated to be the fastest-growing region, driven by increasing healthcare investments, population growth, and rising awareness about respiratory health.
Future Outlook
The pneumonia diagnostics market is poised for robust expansion over the next decade, supported by:
- Technological advancements in diagnostic methods, including molecular diagnostics and point-of-care testing devices that enable rapid and accurate results.
- Increased government initiatives aimed at raising awareness about pneumonia and improving access to diagnostic services.
Competitive Landscape
With several competitors in the pneumonia diagnostics production sphere, the overall market is fragmented. To meet consumer demand and expand their customer base, these companies are implementing methods such as mergers and acquisitions, partnerships and collaborations, and new product launches.
Instances of key developmental strategies by the industry players in the pneumonia diagnostics market are given below:
- In February 2022, Cue Health Inc., a healthcare technology business, and Cardinal Health announced the extended distribution of Cue’s COVID-19 tests for professional usage and over-the-counter use. Cue chose Cardinal Health as one of its key distributors because of its demonstrated ability in assisting diagnostic technology commercialization. Cardinal Health serves almost 90% of US hospitals and over 60,000 pharmacies. This collaboration will assist Cue’s breakthrough nucleic acid amplification test (NAAT) gain traction in both standard and non-traditional healthcare settings.
- In November 2018, bioMerieux received the Food and Drug Administration (FDA) clearance for the BIOFIRE FILMARRAY Pneumonia Panels.
Key Companies Profiled
- Thermo Fisher Scientific Inc.,
- Alere Inc.,
- Quidel Corporation,
- Becton, Dickinson, and Company,
- Meridian Bioscience, Inc,
- Qiagen N.V.,
- bioMérieux SA,
- Bio-Rad Laboratories Inc.,
- Cardinal Health Inc.,
- Beckman Coulter Inc (Danaher Corporation),
- Hologic Inc.,
- La Roche Ltd.,
- Abbot Laboratories,
- Quest Diagnostics,
- Luminex Corporation
A Full Report Overview
Key Market Segments Covered in Pneumonia Diagnostics Industry Research
By Product:
- Streptococcus based
- Legionella based
- Chlamydophilla based
- Mycoplasma Pneumonia based
- Viral Pneumonia based
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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