The Global Pneumococcal Testing Market is expected to reach US$ 3.6 billion by 2030, according to a recent industry study by Future Market Insights (FMI). The market is currently estimated to be worth US$ 1.6 billion in 2022.
Due to its present diagnostic landscape, which includes unmet needs and rising technology, pneumococcal testing is becoming more popular all around the world. Pneumococcal testing has seen numerous technical advancements during the past ten years. There are numerous potential technologies as a result of the increased focus on molecular diagnostic techniques for respiratory infection identification.
Due to its capacity to analyse a variety of respiratory specimens and effectively demonstrate high analytical sensitivity and specificity, pneumococcal testing has gained therapeutic significance. The evolution of nucleic acid detection tests and improvements in POCT products will be the main drivers of the pneumococcal testing market during the next years. Additionally, as patient knowledge of the advantages of early detection has grown, there are now more diagnostic tests available in developing nations like India and Africa.
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Additionally, increase in adoption of molecular diagnostic testing and untapped markets in the developing regions are expected to provide new avenues for the growth of pneumococcal testing market in the near future.
Key Takeaways of Pneumococcal Testing Market Study
- Point of care testing (POCT) remains the preferred testing methos, representing about 2/5th of total market revenue. This is attributed to rising need to provide results in real time that help physicians make informed decisions in treatment of diseases. Moreover, POCT is useful as medical care shifts to a focus on prevention, early detection, and managing acute and chronic conditions.
- Analyzers capture a leading value share in market and will maintain the trend throughout the forecast period.
- Hospitals account for over half of overall market value, given availability of pneumococcal testing and skilled personnel for better clinical management of various diseases across several medical domains.
- Enzyme linked immunosorbent assay (ELISA) accounts for major revenue share, owing to its high sensitivity and specificity, and easier to perform compared to other methods used for the detection of substances in body.
- North America and Europe collectively contribute over 70% of market share in pneumococcal testing market, with the former expected to grow at a CAGR of 12% during the forecast period.
- Increasing prevalence of pneumococcal diseases, recent advancements in pneumococcal diagnostics and government support for quality healthcare is driving the pneumococcal testing market in North America.
Key Companies Profiled:
- Thermo Fisher Scientific Inc
- Becton, Dickinson and Company
- Abbott Laboratories
- F-Hoffmann la Roche Ltd
- Hologic, Inc.
- bioMerieux
- Bio-Rad Laboratories, Inc.
- Meridian Biosciences
- Quest Diagnostics
- Quidel
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Pneumococcal Testing Market by Category:
By Method:
- Immunodiagnostics
- Molecular Diagnostic
- Point of Care Testing
By Product:
- Consumables
- Analyzers
By Technology:
- Immunofluorescence
- Enzyme Linked Immunosorbent Assay (ELISA)
- Western Blot Test
- Nucleic Acid Sequence based Amplification
- Immunohistochemistry
- Polymerase Chain Reaction
- Others
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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