The global pneumonia diagnostics market is expected to enjoy a valuation of USD 521.1 Million by the end of 2022, and further expand at a CAGR of 5.6% from 2022 to 2032, reaching a valuation of USD 899.4 Million by 2032. The rising prevalence of pneumonia along with the growing need for early detection of this medical condition for initiating a proper treatment is a key factor driving demand for pneumonia diagnostics in the market.
Based on product, the streptococcus-based segment dominated the global pneumonia diagnostics market with a share of about 36.2% in 2021 and the trend is likely to continue during the assessment period. The overall pneumonia diagnostics market constituted approximately 0.6% of the global in vitro diagnostics market which stood at USD 76.3 Billion in 2021.
| Attribute | Key Insights |
|---|---|
| Pneumonia Diagnostics Market Base Value (2021) | USD 492.2 Million |
| Estimated Market Value (2022) | USD 521.1 Million |
| Projected Market Value (2032) | USD 899.4 Million |
| Value-based CAGR (2022 to 2032) | 5.6% |
| Market Share of Top 5 Countries | 43.9% |
Pneumonia continues to be a worldwide health concern with a high morbidity and fatality rate. Identifying the microbial pathogens that cause lung infection is crucial for optimal clinical care of pneumonia patients and is a significant barrier to conventional microbiological approaches.
In recent years, the discovery and deployment of molecular diagnostic assays for pneumonia have resulted in a significant improvement in the microbiological detection of respiratory pathogens. However, with new information about the microbiome and lungs presenting a dynamic microbiological ecosystem, our present notion of pneumonia is no longer completely practical, because this new idea of pneumonia entails modification of the lung microbiome.
Pneumonia diagnostics refers to solutions used to identify and detect pneumonia-causing agents like streptococcus, legionella, chlamydophilla, mycoplasma, etc. They are being increasingly utilized to detect pneumonia, especially during its early stages, to initiate a proper treatment approach.
Growing focus on reducing the mortality rate of pneumonia will therefore continue to boost the global pneumonia diagnostics market during the forecast period.
Similarly, increasing health awareness and availability of advanced diagnostic products will further accelerate growth in the market during the assessment period.
Regionally, North America held the highest market share of 30.6% in 2021 and it is likely to retain its dominance during the forecast period. Factors such as the increasing incidence of infectious diseases, the presence of leading manufacturers, and the availability of advanced products are propelling sales in the USA market.
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The overall sales in the pneumonia diagnostics market are projected to grow at 5.6% CAGR between 2022 and 2032, in comparison to the 4.5% CAGR registered from 2012 to 2021.
The rising incidence of pneumonia, the growing focus on early detection of infectious diseases, and advancements in diagnostics techniques are some of the key factors driving the global pneumonia diagnostic market.
Lung infections and other infectious diseases are becoming more common, there is an increase in the demand for diagnostics for pneumonia. One type of acute lung infection is pneumonia. A healthy person's lungs are made up of tiny sacs called alveoli that are filled with air as they breathe. Pneumonia causes the alveoli to bloat up with pus and fluid, which makes breathing challenging and limits oxygen intake.
The most common infectious cause of death in children worldwide is pneumonia. According to the World Health Organization 2021, pneumonia caused 740 to 180 deaths below the age of five in 2019, contributing to 14% of all deaths in children under the age of five but 22% of all deaths in children aged 1 to 5. Pneumonia affects children and families worldwide, although mortality is highest in Sub-Saharan Africa and South Asia.
The increasing adoption of point-of-care diagnostics and development in the detection of nucleic acid around the globe are set to boost the market in the given forecast period.
These factors, combined with the growing tendency toward preventive care are projected to increase the demand for pneumonia diagnostics products over the forecast period.
Rising Government Initiatives and Advancements in Diagnostic Technologies to Boost Market Over the Next Decade
The global pneumonia diagnostics market is likely to witness healthy growth owing to the increasing investments and initiatives by governments in emerging countries to modernize healthcare infrastructure.
The broad availability of rapid molecular diagnostic testing offers an unprecedented insight into pneumonia etiologies, challenging paradigms established by previous investigations from microbiological cultures.
Microscopy and culture of blood cultures, respiratory tract specimens, detection of antigens in urine and respiratory specimens, and detection of specific antibodies in the blood continue to be used in the routine laboratory evaluation of patients with pneumonia (serology). Nucleic acid detection technologies, such as polymerase chain reaction (PCR), have been available for more than two decades and are now commonplace in tertiary-level diagnostic laboratories.
Advancements in current diagnostics and innovation will thrive in the market in near future. For instance, Massachusetts Institute of Technology researchers have developed a sensor that can differentiate between viral and bacterial pneumonia infections, which they hope may aid doctors in selecting the best therapy.
The pricing pressure due to competition and difficulty in diagnosing can hamper the growth of the pneumonia diagnostics market during the forecast period.
In the community environment, the diagnosis and management of pneumonia usually become extremely complex. Physician approaches are primarily dependent on diagnosis information. In some circumstances, false positive results result in catastrophic patient mismanagement with antibiotics, as well as the possibility of superinfection and medication complications.
Immunoassay approaches for diagnosis are promising, however, they are still insufficient to screen for a wide range of pathogens. All these factors act as restraints in the growth of the pneumonia diagnostics market.
Similarly, low healthcare awareness across lower economies along with inadequate reimbursement policies is emerging as a significant impediment to the development of the pneumonia diagnostics market.
Increasing Incidence of Pneumonia and High Diagnostic Rates Driving Market in the USA
The USA dominated the North American pneumonia diagnostics market with a total market share of about 84.0% in 2021 and it is likely to expand at a steady pace during the forecast period.
Growth in the USA pneumonia diagnostics market is driven by the rising prevalence of pneumonia, increasing diagnostic screening rates due to high levels of awareness among people, and the presence of leading manufacturers.
Over the years, there has been a significant rise in the cases of pneumonia and pneumonia-related deaths across the USA which has necessitated the adoption of pneumonia diagnostics.
For instance, as per the Centers for Disease Control and Prevention (CDC), around 25.5% of USA adults suffered from pneumonia in 2020 while the total number of pneumonia-related deaths reached 47,601. In order to tackle this, people opt for various diagnostic tests and treatments. This will continue to boost the pneumonia diagnostics market in the country during the next ten years.
Similarly, increasing healthcare care spending and the presence of favourable reimbursement policies will further boost the demand for pneumonia diagnostic products in the USA market over the assessment period.
Easy Availability of Pneumonia Diagnostics Products Fuelling Sales in Canada
Canada held approximately 16.0% share in the North American pneumonia diagnostics market in 2021 and it is projected to display a growth rate of around 6.3% CAGR during the forecast period.
Growth in Canada’s pneumonia diagnostics market is projected to be driven by increasing production of pneumonia diagnostics products by top players, surging cases of pneumonia infection, and rising health awareness among people.
Favourable government support and the availability of better treatment approaches will further boost the market in the country over the next decade.
Continuous Advancements in Diagnostics Technologies to Boost Market in Germany
As per FMI, the overall pneumonia diagnostics market in Germany is set to exhibit a CAGR of nearly 7.5% during the forecast period (2022 to 2032). Germany is becoming increasingly popular when it comes to health and innovation.
With the increasing prevalence of chronic diseases and rising geriatric population demand for pneumonia diagnostics products will grow at a robust pace across Germany during the forecast period.
Similarly, the flourishing medical tourism sector and advancements in diagnostic technology will bode well for Germany’s pneumonia diagnostics market over the next ten years.
Demand to Remain High for Streptococcus-Based Diagnostic Products
As per FMI, the streptococcus-based diagnostic products segment held the largest market share of about 36.2% in 2021 and it is expected to grow at a CAGR of 5.6% throughout the forecast period. This can be attributed to the rising prevalence of pneumococcal diseases and the increasing usage of streptococci-based diagnostic products for detecting this disease.
Streptococci are typically cultured on blood-supplemented agar media. This approach detects haemolysis, which is necessary for further identification procedures, and increases streptococci growth by introducing an external supply of catalase. Since this strain is the most common cause of pneumonia, this segment is set to drive the growth of the overall market.
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:
| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 521.1 Million |
| Projected Market Size (2032) | USD 899.4 Million |
| Anticipated Growth Rate (2022 to 2032) | 5.6% |
| Forecast Period | 2012 to 2021 |
| Historical Data Available for | 2022 to 2032 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, UK, Germany, Italy, Russia, Spain, France, BENELUX, Nordic Countries, India, Thailand, Indonesia, Malaysia, Philippines, Vietnam, Japan, China, South Korea, Australia, New Zealand, Israel, Turkey, GCC Countries, and South Africa |
| Key Market Segments Covered | Product and Region |
| 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 (DanaherCorporation); Hologic Inc.; La Roche Ltd.; Abbot Laboratories; Quest Diagnostics; Luminex Corporation |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global pneumonia diagnostics market size reached USD 492.2 Million in 2021 and is likely to touch a valuation of USD 521.1 Million in 2022.
The pneumonia diagnostics market is expected to reach USD 899.4 Million by the end of 2032, with sales revenue expected to grow at 5.6% CAGR throughout the forecast period.
Growing adoption by the increasing geriatric population, innovative product development, and increasing prevalence of infectious diseases are some of the key trends in this market.
The USA, Canada, China, Germany, and the UK are driving demand for pneumonia diagnostics products.
The USA accounted for about 84.0% of the North American pneumonia diagnostics market in 2021.
Demand for pneumonia diagnostics in Europe is expected to grow at 7.5% CAGR over the next ten years.
The USA, China, and Germany are the key producers of pneumonia diagnostics.
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, and Luminex Corporation are some of the key players in the pneumonia diagnostics industry.
The pneumonia diagnostics market in Japan is set to expand at a CAGR of 5.5% during the forecast years.
The overall pneumonia diagnostics market in China is set to expand at a CAGR of 6.4% during the forecast period.
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Pneumonia Diagnostics Market
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