High potential in emerging markets due to the availability of improved healthcare infrastructure, rise in prevalence of chronic diseases, and increase in consumer awareness towards pathogen testing and preventive healthcare drive the global respiratory pathogen testing kits market.
PORTLAND, Ore., Feb. 7, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Respiratory Pathogen Testing Kits Market by Product Type (RT PCR Kits, Lateral flow test kits, ELISA Kits, Others), by Application (Influenza Virus Infection, Respiratory Syncytial Virus Infection, Others), by End User (Hospitals, Diagnostic Centers, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global respiratory pathogen testing kits industry is estimated to generate $2.2 billion in 2021 and $3.7 billion by 2031, witnessing a CAGR of 5.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Drivers, Restraints, and Opportunities
Rise in prevalence of chronic diseases, increase in awareness regarding pathogen testing and preventive healthcare, increase in promotional activities by manufacturers, and growth in awareness regarding respiratory testing kits among the general population fuel the growth of the global respiratory pathogen testing kits market. However, reimbursement concerns over the testing kits, unfavorable regulatory scenarios of the products used for testing, and an increase in healthcare cost hinder the global market growth. On the other hand, a high growth potential in untapped and emerging economies due to the availability of improved healthcare infrastructure will present lucrative growth opportunities for the global respiratory pathogen testing kits market in future.
Covid-19 Scenario
- The outbreak of the Covid-19 pandemic impacted the global respiratory pathogen testing kits market positively.
- The pandemic led to the increased demand for pathogen testing technology to detect the molecular tests and map COVID-19 antibody for Covid-19 infection.
- Various companies adopted the product launch strategy to check immune monitoring, diagnostics tests, and vaccines development.
The lateral flow test kits segment to exhibit progressive revenue growth during the forecast period
Based on product type, the lateral flow test kits segment contributed to the largest share of more than one-third of the global respiratory pathogen testing kits market in 2021, and is expected to rule the roost during the forecast period. This is due to an increase in adoption of lateral flow test kits for the diagnosis of chronic diseases and the wide availability of respiratory pathogen testing kits in the market. However, the ELISA kits segment is projected to witness the fastest CAGR of 6.3% from 2022 to 2031. This is due to the increase in prevalence of respiratory microbial infections among the population, rise in healthcare expenditure and an increase in the adoption of respiratory infections diagnostic products for diagnosis.
The influenza virus infection segment to dominate in terms of revenue during the forecast period
Based on application, the influenza virus infection segment held the largest share of more than half of the global respiratory pathogen testing kits market in 2021, and is expected to maintain a prominent growth during the forecast period. The same segment is expected to exhibit the highest CAGR of 6.0% in 2031, owing to an increase in application of pathogen testing in the diagnosis of chronic respiratory diseases.
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The hospitals segment to maintain its leadership during the forecast period
Based on end user, the hospitals segment held the largest share of nearly three-fifths of the global respiratory pathogen testing kits market in 2021 and is expected to maintain a prominent revenue growth in 2031. This is because hospitals are the oldest and most conventional medium for using respiratory pathogen testing kits to diagnose patients. However, the diagnostic centers segment would exhibit the highest CAGR of 6.0% in 2031, as hospitals are also one of the oldest mediums for using respiratory pathogen testing kits to diagnose patients. The segmental growth is also attributed to an increase in research activities for the testing of respiratory pathogens and a rise in the number of specialty clinics globally.
Asia-Pacific to garner the highest growth by 2031
Based on region, the market in North America was the largest in 2021, accounting for more than two-fifths of the global respiratory pathogen testing kits market, and is likely to maintain its dominance during the forecast timeframe. This is due to the high prevalence rate of respiratory diseases, increase in the number market players and a surge in the testing facilities in the region. However, the market in Asia-Pacific is likely to show the fastest CAGR of 7.2% during the forecast period. This is owing to the presence of high populace countries such as India and China, which in turn, increases the prevalence rate of infectious diseases, and the increasing number of strategies and trends adopted by the market players in the region.
Leading Market Players
- Abbott Laboratories
- Altona Diagnostics
- Becton, Dickinson and Company
- BIOMERIEUX SA
- Danaher Corporation
- F Hoffman La Roche Ltd.
- Mylab Discovery Solutions Private Limited
- Qiagen NV
- Siemens AG
- Thermo Fisher Scientific Inc.
The report analyzes these key players of the global respiratory pathogen testing kits market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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