Published Date: 20-11-2020
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According to a new report Global Pneumonia Testing Market, published by KBV research, The Global Pneumonia Testing Market size is expected to reach $2.2 billion by 2026, rising at a market growth of 9.3% CAGR during the forecast period. With the advancement in pneumonia testing systems like the development of improved nucleic acid detection tests and also the advancement in POC tests is one of the major factors that is leading to the growth of the pneumonia testing market.
Diagnostic laboratories held the highest revenue in 2019, and are projected to be the leading end user segment throughout the forecast period. Homecare segment on the other hand is anticipated to be the fastest growing segment with a CAGR of 10.3% during the forecast period.
The POC testing segment contributed the maximum market share 2019, due to multiple benefits such as technological advancements, easy usability, and faster results. The consumables segment is anticipated to register highest growth rate during the forecast period, and it is due to the smaller shelf-life of consumables and their frequent usage for pneumonia tests.
Pneumonia testing is majorly used in the North American region, owing to growing adoption of diagnostic tests, higher prevalence of pneumonia, and better disposable income among the population base in the region. Large geriatric population would further add to the market growth in the North American region. Though the adoption of pneumonia testing products in the Asia-Pacific and LAMEA regions is low; nevertheless, the rate of adoption is expected grow due to rising disposable income and rising cases of pneumonia. China and India are among the fastest growing pneumonia testing markets in the Asia-Pacific region. With the increase in R&D investment, growing healthcare expenditure, and rise in government funding and initiatives are the factors that would contribute to the growth of the market in the Asia-Pacific region.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Abbott Laboratories, Becton, Dickinson and Company, bioMeerieux, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG, Hologic, Inc., Meridian Bioscience Inc., Quest Diagnostics Incorporated, Quidel Corporation and Thermo Fisher Scientific.
Global Pneumonia Testing Market Segmentation
By End User
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