The global pneumonia diagnostics market is projected to grow from USD 521.1 million in 2022 to USD 899.4 million by 2032, at a compound annual growth rate (CAGR) of 5.6%. The increasing prevalence of pneumonia and the urgent need for early detection to enable timely and effective treatment are driving market growth.
Among product categories, the streptococcus-based segment led the market with a 36.2% share in 2021 and is expected to maintain its dominance throughout the forecast period. Streptococcus pneumoniae remains a leading cause of bacterial pneumonia, emphasizing the importance of diagnostics tailored to this pathogen.
Although the pneumonia diagnostics market represented approximately 0.6% of the global in vitro diagnostics (IVD) market, valued at $76.3 billion in 2021, it is experiencing sustained growth driven by advancements in diagnostic technologies and increasing investments in healthcare infrastructure. Rapid diagnostic tools and molecular-based testing are gaining traction for their ability to provide accurate and timely results.
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Key Takeaways:
- Market Growth: The pneumonia diagnostics market is expected to grow from $521.1 million in 2022 to $899.4 million by 2032, at a 5.6% CAGR.
- Leading Product Segment: Streptococcus-based diagnostics held 36.2% of the market share in 2021.
- Driving Factors: Rising prevalence of pneumonia and growing demand for rapid and accurate diagnostic tools.
- Market Context: The pneumonia diagnostics segment constitutes 0.6% of the global in vitro diagnostics market.
This growth highlights the critical role of pneumonia diagnostics in addressing a major global health concern and ensuring better patient outcomes through early detection and intervention.
Growth Drivers
- Rising Prevalence of Pneumonia: The increasing incidence of pneumonia globally is a primary factor driving demand for effective diagnostic solutions, as early detection is crucial for initiating appropriate treatment.
- Need for Early Detection: There is a growing emphasis on early diagnosis to improve patient outcomes, which is leading to increased investments in pneumonia diagnostics.
- Government Awareness Programs: Initiatives aimed at raising awareness about pneumonia and its impact on health are contributing to market growth, encouraging more patients to seek diagnosis and treatment.
- Technological Advancements: Innovations in diagnostic technologies, including rapid tests and advanced imaging techniques, are enhancing the accuracy and speed of pneumonia diagnosis.
Regional Insights
- The North American market is anticipated to maintain a significant share due to advanced healthcare infrastructure and a high burden of pneumonia cases.
- The European market is also expected to grow, driven by increased hospitalizations and government initiatives promoting awareness and testing.
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
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.
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