[287 Pages Report] The global Pneumococcal Testing Market is valued at USD 1.6 Bn in 2022 and is expected to reach USD 3.6 Bn by 2030, finds Future Market Insights (FMI) in a recent market survey.
Pneumococcal Testing Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2022 | USD 1.6 Billion |
| Market Value 2030 | USD 3.6 Billion |
| CAGR 2022-2030 | 11.2% |
| Key Players | The key players are 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 and Quidel. |
| Share of Top 5 Countries | 62.1% |
The pneumococcal testing market is anticipated to observe robust growth due to the development in point-of-care (POC) testing products and growth of advanced nucleic acid detection tests. Moreover, rising cases of pneumonia, growing demand for pneumococcal testing and advancement in point-of-care testing for community-acquired pneumonia are responsible for the development of the pneumococcal testing market.
Pneumococcal testing market holds nearly 3.1% market value share of the USD 45 Bn diagnostics market in 2021. In addition, the rise in adoption of molecular diagnostic testing in the emerging economies are anticipated to offer new paths for the development of pneumonia testing market in the coming years.
Driven by this, sales of pneumococcal testing are expected to rise at 11.2% CAGR through 2030.
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| Particulars | Details |
|---|---|
| H1, 2021 | 11.08% |
| H1, 2022 Projected | 11.21% |
| H1, 2022 Outlook | 11.11% |
| BPS Change - H1, 2022 (O) - H1, 2022 (P) | (-) 10 ↓ |
| BPS Change - H1, 2022 (O) - H1, 2021 | (+) 3 ↑ |
The comparative analysis and market growth rate of global pneumococcal testing market as studied by Future Market Insights, will show a negative BPS growth in H1-2022 outlook as compared to H1-2022 projected period by 10 BPS.
As per the FMI Analysis, the global pneumococcal testing market will observe an increased change in the Basis Point Share (BPS) by nearly 03 units in H1- 2022 (O) as compared to H1-2021.
This was majorly due to the prevalence of high pneumococcal carriage rate among adults and children, adoption of multi-locus sequence analysis (MLSA) for pathogen identification, and high diagnostic yield of pneumococcal testing, promoting this rise in the BPS value.
The key factors boosting the demand for pneumococcal testing are the development of novel biomarkers for rapid disease testing, and the structuring of detection methods for pneumococcal antigens.
Additionally, introduction of pneumococcal conjugate vaccines for invasive pneumococcal disease, and devising of immunization strategies that induce optimum immunogenicity and protection against invasive pneumococcal disease in the elderly have further promoted this surge in the BPS value.
Conversely, challenges linked with the accurate diagnosis of pneumococcal pneumonia will restrain the growth of pneumococcal testing market.
Sales of pneumococcal testing grew at a CAGR of 9.8% between 2015 and 2021.
The pneumonia testing market is developing at a decent rate as pneumonia is a serious disease in which testing aids to detect the disease sooner and further, they can be treated rapidly. Furthermore, the awareness level is rising gradually which leads to early diagnosis, thus promoting the development of pneumonia testing market.
The main clinical syndromes of pneumococcal disease are meningitis, bacteremia, and pneumonia. According to the Centers for Diseases Control and Prevention in 2017, reports that 150,000 hospitalizations occurred from pneumococcal pneumonia yearly in the USA
Pneumococci hold for about 30% of community-acquired pneumonia for adults. Bacteremia happens about 25-30% of pneumococcal pneumonia patients. The case-mortality rate is 5-7% and might be much higher amongst geriatric persons. This is expected to boost the demand for the market.
Considering this, FMI expects the global pneumococcal testing market to grow at a CAGR of 11.2% through 2030.
Principal Consultant
The high cost of testing and limited reimbursement for new or expensive diagnostic tests are the primary factors hampering the pneumococcal testing market growth.
Diagnostic tools for Legionella comprise antigen detection in urine, culture, immunohistochemistry or direct fluorescent antibody staining, serological testing, and polymerase chain reaction (PCR) testing.
Various commercially accessible urinary antigen tests for Legionella provide a quick diagnosis with high specificity. However, a 2016 study to evaluate the Legionella incidence and to understand the cost effectiveness of the test in Central Texas revealed that the projected cost of screening of population with Legionella urinary antigen testing was around USD 214,871.76 above 13 years, with a price per positive patient of USD 12,640.
Concerns and difficulties about reimbursement for expensive or new diagnostic tests may hinder innovation and are an important challenge to the market growth. Coverage for detection tests differs regionally, and given the absence of standards in determining coverage, this can present challenges for dissemination and development of a new diagnostic method.
The U.S. is estimated to account for around 82.9% of the North America pneumococcal testing market in 2022.
U.S. is anticipated to dominate the pneumonia testing market owing to increasing popularity among the healthcare industry for POC tests, increasing geriatric population, and increasing growth of advanced PCR-based technologies.
For instance, as per the Centers for Disease Control and Prevention (CDC), pneumonia is an eighth primary cause for fatality in U.S. which further result into growth in awareness regarding the disease and further boosts the market.
Also, there are growing product approval and rising product launches that are boosting the overall market in the country. Moreover, with the growing healthcare expenditure and the availability of well-developed healthcare infrastructure is driving the growth of the market in U.S.
Germany is estimated to account for 31.3% of the Europe pneumococcal testing market in 2022.
The development of the market in Germany is owing to the initiatives undertaken by the government regarding the growth of healthcare infrastructure, and availability of favorable regulations coupled with the high disease incidence levels in the country. Point-of-care testing is widely used in developed countries owing to high awareness as compared to the developing countries and improved reimbursement policies.
The pneumococcal testing market in China is estimated to be worth USD 42.6 Million in 2022 in the global market.
The key factors fueling the development of the market include growing technological advancement in point-of-care diagnostics devices coupled with rising adoption of inorganic development strategies like agreements and collaborations to produce novel devices. This is projected to drive the market development in China. In addition, rising prevalence of pneumonia and the growing demand for its diagnosis via testing is another key factor adding to the development of the pneumococcal testing market in China.
Demand for pneumococcal testing in India is expected to rise at around 13.7% CAGR over the forecast period.
The rising elderly population and the rising awareness concerning pneumococcal testing are some of the key factors that will drive the market development in the country. The rising geriatric population is more susceptible to pneumonia which is growing the demand for pneumococcal testing.
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By method, point of care testing is anticipated to hold the maximum share of 43.0% in 2022, expanding at rate of nearly 11.7% during the forecast period.
POC testing is an innovative technology that is presently an ideal technique for diagnosing pneumonia. The rising adoption of POC testing is owing to growing cases of pneumonia, higher efficiency of POC testing and the rapid test results, growing its preference over other testing methods.
Thus, with the increasing prevalence of chronic diseases and huge customer base adopting the inexpensive and instant diagnostic tests, is boosting the point of care testing. The benefits of POC test to render accurate and rapid results is also aiding in encouraging the patient-centered healthcare at home care settings which leads to adoption of point of care testing and thus encouraging the development of pneumonia testing market.
By Product, analyzers will lead the market and is projected to account for 59.7% of the total market revenue share in 2022.
The several advantages offered by analyzers is increasing the demand for analyzers thus increasing the market share of this segment. The advantages offered by analyzers include optimized time-consuming analytical and testing processes, reliable diagnostic information, accurate and timely analysis of samples and improved patient and wellness care.
In terms of technology, Enzyme Linked Immunosorbent Assay (ELISA) segment in projected to account for 29.7% of the total market share in 2022.
Immunofluorescence, even though, has been the traditional laboratory method in various biological applications, this technology is high-priced and requires trained professionals. ELISA (Enzyme linked immunosorbent assay) has evolved as a substitute method, as it offers high specificity and sensitivity, and is easier to carry out in comparison to other methods for diagnosis of substances in the body.
By end user, hospitals segment is anticipated to hold the maximum share of 55.3% in 2022, expanding at rapid rate of 11.5% CAGR during the forecast period.
The hospital segment is anticipated to dominate due to the higher implementation of advanced diagnostic equipment in hospitals. Also, trends like growing adoption of robotic technology and automation in instruments that enhances the results of diagnostic tests is projected to drive the segment.
Moreover, favorable reimbursement policies for several diagnostic tests is also expected to support hospital segment retain its market share during the forecast period.
Companies operating in the pneumococcal testing market are competitive by nature, with a presence of few players. These players are involved in a number of strategic alliances.
The product launch and acquisition accelerates the manufacturer’s strategy to capitalize on the market share and capture the significant share of market. Some of the recent instances include:
| Attribute | Details |
|---|---|
| Forecast Period | 2015 to 2021 |
| Historical Data Available for | 2022 to 2030 |
| Market Analysis | USD Million for Value |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, South Africa, Northern Africa |
| Key Segments Covered | Method, Product, Technology, End User and Region |
| 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 |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global pneumococcal testing market is worth USD 1.4 Bn in 2021 and is set to expand 2.3X over the forecasted years owing to the rising cases of pneumonia, growing demand for pneumococcal testing and advancement in point-of-care testing for community-acquired pneumonia.
The sales of pneumococcal testing in the market have grown at a CAGR of nearly 9.8% between 2015 and 2021.
The pneumococcal testing market is expected to reach USD 3.6 Bn by the end of 2030 with sales revenue expected to register CAGR of 11.2% over the forecast period.
North America holds the largest market share in the pneumococcal testing. North America currently is estimated to hold nearly 41.2% in 2022 of the global market share in pneumococcal testing market with U.S. being the leading contributor with a market value over USD 532.9 Mn in 2022.
Demand of pneumococcal testing market is expected to register growth in Europe at rate of 12.2% CAGR during the forecast period.
The pneumococcal testing in China is likely to observe growth with an impressive CAGR of 10.5% during the forecast period. The key factors fueling the development of the market include growing technological advancement in point-of-care diagnostics devices coupled with rising adoption of inorganic development strategies like agreements and collaborations to produce novel devices.
Widespread adoption of nucleic acid detection tests (NATs), shift from centralized to decentralized point-of-care testing and shift from single-analyte testing to multiplex testing are key trends driving sales of pneumococcal testing market across the globe.
Japan’s pneumococcal testing market is offering lucrative growth opportunities and is expected to exhibit healthy growth of 9.8% CAGR during the forecast period. South Korea market expected to exhibit healthy growth of 9.1% CAGR during the forecast period.
U.S., Germany, Canada, U.K. and France are the top 5 countries that are driving the demand for pneumococcal testing market.
Leading companies of pneumococcal testing market are 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 and Quidel.
1. Executive Summary
2. Market Overview
3. Key Market Trends
4. Key Success Factors
5. Market Background
6. Global Pneumococcal Testing Market Value (USD Million) Analysis 2015-2021 and Forecast, 2022-2030
7. Global Market Analysis by Segment
7.1. Immunodiagnostics
7.2. Molecular Diagnostics
7.3. Point-of-Care (POC) Testing
8. Global Pneumococcal Testing Market Analysis 2015-2021 and Forecast 2022-2030, by Product
8.1. Consumables
8.2. Analysers
9. Global Pneumococcal Testing Market Analysis 2015-2021 and Forecast 2022-2030, by Technology
9.1. Immunofluorescence
9.2. Enzyme Linked Immunosorbent Assay (ELISA)
9.3. Western Blot Test
9.4. Nucleic Acid Sequence-Based Amplification (NASBA)
9.5. Immunohistochemistry (IHC)
9.6. Polymerase Chain Reaction (PCR)
9.7. Others
10. Global Pneumococcal Testing Market Analysis 2015-2021 and Forecast 2022-2030, by End User
10.1. Hospitals
10.2. Diagnostic Clinics
10.3. Home Care
10.4. Others
11. Global Pneumococcal Testing Market Analysis 2015-2021 and Forecast 2022-2030, by Region
11.1. North America
11.2. Latin America
11.3. Europe
11.4. East Asia
11.5. South Asia
11.6. Oceania
11.7. Middle East and Africa (MEA)
12. North America Pneumococcal Testing Market Analysis 2015-2021 and Forecast 2022-2030
13. Latin America Pneumococcal Testing Market Analysis 2015-2021 and Forecast 2022-2030
14. Europe Pneumococcal Testing Market Analysis 2015-2021 and Forecast 2022-2030
15. South Asia Pneumococcal Testing Market Analysis 2015-2021 and Forecast 2022-2030
16. East Asia Pneumococcal Testing Market Analysis 2015-2021 and Forecast 2022-2030
17. Oceania Pneumococcal Testing Market Analysis 2015-2021 and Forecast 2022-2030
18. Middle East and Africa Pneumococcal Testing Market Analysis 2015-2021 and Forecast 2022-2030
19. Emerging Countries Pneumococcal Testing Market Analysis 2015-2021 and Forecast 2022-2030
20. Key Countries Pneumococcal Testing Market Analysis 2015-2021 and Forecast 2022-2030
21. Market Structure Analysis
22. Competition Analysis
22.1. Thermo Fisher Scientific Inc.
22.2. Abbott Laboratories
22.3. F-Hoffmann la Roche Ltd.
22.4. Hologic Inc.
22.5. bioMerieux
22.6. Becton, Dickenson and Company
22.7. Bio-Rad Laboratories Inc.
22.8. Meridian Biosciences
22.9. Quest Diagnostics
22.10. Quidel
23. Assumptions and Acronyms Used
24. Research Methodology
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Pneumococcal Testing Market
