Global Pneumococcal Testing Market Size will Observe Substantial Growth USD 2.47 billion by 2027 : Fior Markets

Pneumococcal Testing Market by Method (Molecular Diagnostics, Immunodiagnostics, and Point of Care Testing), Technology (Immunofluorescence, Enzyme Linked Immunosorbent Assay, Western Blot, Immunohistochemistry, Polymerase Chain Reaction, and Others), Type, and End User, Region, Trends, and Forecast to 2027

Pune, INDIA


Newark, NJ, May 26, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global pneumococcal testing market is expected to grow from USD 1.21 billion in 2019 to USD 2.47 billion by 2027, at a CAGR of 9.3% during the forecast period 2020-2027. North America is expected to dominate the market during the forecast period. The rapid rise in geriatric population is the major driver for market growth. The massive investments in research and development of innovative technologies in the healthcare sector is another factor fuelling market growth. Asia-Pacific segment is expected to witness high growth rate during the forecast period. The rising awareness towards healthcare will drive the market growth. The rise in disposable incomes has led to an increasing demand for advanced medical treatment and technology in the region, contributing to market growth.

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Some of the leading players of the market include Abbott Laboratories, Thermo Fisher Scientific Inc., F-Hoffmann la Roche Ltd., BioMerieux, Hologic Inc., Becton, Bio-Rad Laboratories Inc., Dickenson and Company, DiaSorin, Meridian Biosciences, and Quest Diagnostics. The companies are focusing on partnerships and collaborations for the expansion of market share and technological progress. Other strategies adopted by the players include research and development for innovative product launches.

This study delivers a comprehensive analysis of types of method, technology, type, end-user, and regions. On the basis of the method, the market can be divided into molecular diagnostics, immunodiagnostics, and point of care (POC) testing. The POC testing segment is expected to dominate the market and portray the highest growth rate during the forecast period. The adoption of POC testing is rising due to its ability of quick diagnosis and requirement of lower volumes of blood sample. On the basis of technology, the market can be divided into immunofluorescence, enzyme linked immunosorbent assay, western blot, immunohistochemistry, polymerase chain reaction, and others. Enzyme linked immunosorbent assay is expected to dominate the market during the forecast period. The high specificity and sensitivity offered by the technology, along with better performance, will drive the market growth. On the basis of type, the market can be divided into analyzers and consumables. The demand for analyzers is expected to dominate the market, whereas consumables are expected to show a high growth rate during the forecast period. On the basis of end-user, the market can be divided into hospitals, diagnostic laboratories, home care, and others. The diagnostic laboratories segment is expected to dominate the market during the forecast period. Homecare segment is expected to witness the highest growth rate during the forecast period.

The rapid rise in the elderly population globally is expected to drive market growth. An increasing number of children are also being diagnosed with the disease. The rising awareness regarding the spread of disease and early diagnosis benefits is resulting in an increase in the number of diagnostic tests, especially in the developing nations.

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About the report:

The global pneumococcal testing market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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