Research Nester published a report titled “Pneumonia Testing Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global pneumonia testing market in terms of market segmentation by types, method, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global pneumonia testing market is anticipated to grow with a CAGR of ~6% over the forecast period, i.e., 2023-2033. The market is segmented by end users into hospitals, diagnostic laboratories, home care, and others. Out of these segments, the hospital segment is anticipated to hold the largest share by the end of 2031.Surge in the number of hospitals and cutting-edge technologies provided by the hospitals, are some of the major factors anticipated to drive the growth of the segment during the forecast period.
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The global pneumonia testing market is estimated to garner revenue of USD 3.0 Billion by the end of 2033, up from a revenue of ~USD 607.5 Million in the year 2022. Growing incidence of pneumonia,rising cases of COVID-19, and growing geriatric population are some of the major factors expected drive the growth of the market.
Geographically, the global pneumonia testing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Out of which, the pneumonia testing market in North America is projected to hold the largest market share by the end of 2033. Increasing prevalence of pneumonia in the region, as well as existence of significant market participants in the areaare some of the major factors anticipated to drive the growth of the Asia Pacific pneumonia testing market.
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The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Cases of COVID-19 to Boost Market Growth
The World Health Organization (WHO) stated that 612,236,677 confirmed cases of COVID-19 were reported worldwide as of 26th September 2022.
COVID-19 had been known to take the lives of several people globally. Several people who were affected with the disease also had pneumonia in both the lungs. This condition was also known as new-corona virus-associated pneumonia (NCIP)and globally, 8,385,450 reported cases of coronavirus disease 2019 (COVID-19) pneumonia were recorded in the year 2020, along with registering 450,690 fatalities.
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However, widespread utilization of X-ray to detect pneumonia, high cost of the testing devices, along with the high preference of utilizing traditional approach to identify pneumonia-causing pathogensare expected to operate as key restraint to the growth of global pneumonia testing market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global pneumonia testing market which includes company profiling of Abbott, Quidel Corporation, Thermo Fisher Scientific Inc., bioMérieux SA, INTEC, OpGen, BD (Becton, Dickinson, and Company), Meridian Bioscience, Inc., Luminex Corporation (DiaSorin S.p.A.), F. Hoffmann-La Roche Ltd., and others.The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global pneumonia testing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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