POC Testing is Becoming more Popular with its Speed Response to Pneumonia Testing
Point-of-care (POC) testing is a new tool that is now the best way to identify pneumonia. POC testing is becoming more popular due to its improved efficiency, increased cases of pneumonia, and rapid test results, which make it very favourable. As a result of the increased prevalence of chronic pneumonia diseases in a wide customer base, the adoption of cost-effective and quick diagnostic tests is accelerating point of care testing, thus driving the growth of the pneumonia testing market. In 2019, Pneumonia claimed the lives of 2.5 million people and due to the COVID-19 pandemic, this number climbed up to 4 million in 2020. With the continuous increase in the number of patients and the ongoing pandemic, the use of POC testing can help in reducing the prevalence of chronic pneumonia diseases with early diagnosis.
The ability of POC tests to provide speedy and accurate findings in minimal time aids in the promotion of patient-centred healthcare in bedside settings, which leads to the adoption of point of care testing and hence the rise of the pneumonia testing market. This is stirring various market competitors to scale their production and promote technological advancement in the POC testing method. For instance, in 2021, the Panbio COVID-19 Antigen Self-Test was developed by Abbott, which can identify the SARS-CoV-2 virus in adults and children. With the help of this test kit, it is anticipated that the early diagnosis of COVID-19 will increase, which will help to curb the cases of Pneumonia.
Enzyme-Linked Immunosorbent Assay (ELISA) Dominated Market Due to its Varied Range of Application
Enzyme-linked immunosorbent assay (ELISA) dominates the technology section of the pneumonia testing market. The occurrence of infectious diseases such as dengue, hepatitis, AIDS, neurological disorders, and cancer is driving the demand for ELISA in the forecast period. It is also used in toxicology, vaccine development, immunology, drug monitoring, transplantation, pharmaceuticals, infectious illnesses, cancer, protein quantification, and a variety of other applications. Due to its great healthcare infrastructure and better research and development facilities, North America is a significant region dominating ELISA technology.
North America Dominated Pneumonia Testing Market due to Growing Number of Infections
North America is expected to have the highest pneumonia testing market share during the forecast period, owing to the prevalence of chronic diseases, an increase in healthcare expenditure, the presence of advanced healthcare infrastructure, availability of reimbursements, and the presence of major market players in the region. According to CDC, there were a total of 47,601 death in the US in 2020 with a ratio of 14.4:1000 patients. Such a huge prevalence of Pneumonia in the region is expected to boost the market demand for the pneumonia testing kit in the region.
Asia Pacific may also see an increase of the pneumonia testing market over the forecast period due to a rise in health care awareness and increasing demand for modern medical technology in the region. The rising prevalence of infectious and chronic diseases in the Asia Pacific is expected to drive the adoption of these diagnostics. For instance, in India, approximately 3.7 lakhs of children within the age of five die due to pneumonia annually. To curb this number of infections, private organisations along with public support are increasing the demand and the need for Pneumonia testing equipment in the country, which is driving the regional market as well. The widespread use of modern POC diagnostics to diagnose numerous chronic and infectious diseases, as well as the availability of advantageous reimbursement policies, are expected to drive growth in the region. Furthermore, the government has invested in R&D to boost the diagnostics sector, particularly in the development of highly advanced point-of-care diagnostic technologies. These elements contribute to the region's market growth.
Global Pneumonia Testing Market: Competitive Landscape
Players in the sector are introducing new products as well as forming collaborations, alliances, and partnership agreements. For instance, in 2021, Abbott created AlinityTM m Resp-4-Plex, a novel assay that tests for COVID-19, flu A, flu B, and RSV using only one swab and runs on our superior Alinity m technology. This test will help the patient with an early diagnosis of pneumonia as well. For instance, in 2021, Thermo Fisher Scientific announced that it has received FDA Emergency Use Authorization (EUA) to execute COVID-19 tests on the Amplitude Solution utilizing a novel saliva sample collecting procedure using the Spectrum Solutions SpectrumDNA SDNA-1000 collection instrument, a high-throughput, automated COVID-19 testing system. Thermo Fisher Scientific believed that it will also provide pneumonia testing as Covid-19 is becoming one of the prominent causes of Pneumonia.
A few of the players in the pneumonia testing market include Abbott Laboratories, F.hoffman La Roche, Thermofischer Inc, Hologic Inc, Biomerieux SA, Quidel Corporation, Bio-Rad laboratories, Beckton and Dickinson Company, AdvanDx, Beckman Coulter.
Global Pneumonia Testing Market is Segmented as Below:
Key Elements Included In The Study: Global Pneumonia Testing Market
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