COVID-19 Pandemic Leverages Production of Respiratory Pathogen Testing Kits, Market Players Emphasize on Inorganic Growth to Retain Market Foothold
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COVID-19 Pandemic Leverages Production of Respiratory Pathogen Testing Kits, Market Players Emphasize on Inorganic Growth to Retain Market Foothold

Tuesday, June 16, 2020 6:45 AM
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Respiratory disorders are becoming commonplace across every continent. Changing environmental landscapes in the wake of urbanization has deteriorated air quality, providing a breeding ground for disease causing pathogens. Infections such as pneumonia, common cold, influenza, tuberculosis, bronchitis and the COVID-19 are spurring technological enhancements in the diagnosis and eradication of such respiratory disorders

DUBAI / ACCESSWIRE / June 16, 2020 / Future Market Insights: The global respiratory pathogen testing market is set to catapult substantially during the forecast period 2020-2030. Widespread prevalence of a host of respiratory infections due to air pollution in the wake of deforestation and urbanization acts as a growth catalyst. Recognizing the magnitude of this problem, governments' world over have increased their budget allocation towards developing respiratory diagnostics.

This has motivated various pharmaceutical companies to invest in the development of improved diagnostic tests which are capable of delivering results in a much lesser time period compared to the existing tests. At present, rapid molecular assays, immunofluorescence assays, antigen testing, RT-PCR and vital culture are the most prevalent tests.

The COVID-19 pandemic has only added more fuel to the fire, spurring healthcare and pharmaceutical stakeholders to accelerate research and development on numerous advanced respiratory testing kits. As the number of infections increase exponentially every day, hospitals and clinics are finding it unnerving to cater to the increasing patient pool. This is due to acute shortages in terms of medical equipment, beds, protective gear and testing kits. Realizing this, governments, healthcare providers and market players have pooled their resources and are tirelessly striving to provide quality healthcare to people and mitigate the impact of this deadly pandemic. With a general feeling of uncertainty and cautiousness, the market will remain afloat even in the post-pandemic scenario.

"Healthcare practitioners and prominent pharmaceutical companies are directing all their resources towards mushrooming research and development on rapid molecular assays, highly effective in detecting pathogens by virtue of natural antisense transcripts (NATs). These tests do not depend upon the target microbes' viability, generating results within a much shorter timeframe," concludes a prominent FMI analyst.

Request a sample of the respiratory pathogen testing kits market report of 235 pages to gain in-depth market insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-10542

Respiratory Pathogen Testing Kits Market- Key Takeaways

  • The respiratory pathogen testing kits market is poised to surge at a CAGR of 6.5% during the forecast period of 2020-2030.
  • RT-PCR tests are the most prevalent respiratory pathogen detection tests employed across different healthcare settings due to its accuracy.
  • Increased vulnerability of people engaged in coal mining to chronic obstructive pulmonary disease (COPD) has mandated the need for respiratory pathogen testing.
  • North America and Europe collectively account for over half of the total respiratory pathogen testing kits market. However, market players are increasingly clamoring for strategic market expansion in the Asia-Pacific in the wake of growing incidences of respiratory diseases.

Respiratory Pathogen Testing Kits Market- Prominent Drivers

  • Initiation of respiratory diseases eradication campaigns such as the Vaccine and Treatment Evaluation Units (VTEUs) program will provide immense traction to the market.
  • Technological enhancements by market players to improve testing efficiency to yield timely results will motivate patients to undergo respiratory infections tests, providing leverage to the market.

Respiratory Pathogen Testing Kits Market- Key Restraints

  • High operating costs incurred by private laboratories in conducting molecular processes is anticipated to restrain the respiratory pathogen testing kits market.

Anticipated Impact of the COVID-19 Outbreak

The coronavirus pandemic has provided an opportunity for the government, healthcare settings and pharmaceutical companies to collaborate on a common platform towards the annihilation of the life-threatening disease. For instance, regulatory bodies throughout Europe are providing monetary support to market vendors for offering coronavirus testing kits. The European Commission sanctioned nearly US$ 11 million in January 2020 as a part of its Horizon 2020 program to support research related to coronavirus. This has immensely leveraged the respiratory pathogen testing kits market in Europe since the pandemic's onset. Similarly, the Australian government announced a US$ 1.68 billion aid package in March 2020 to establish a respiratory clinics' network to combat COVID-19.

The outbreak has also prompted Russia to set up the Russian Direct Investment Fund (RDIF) to produce 50,000 respiratory pathogen test kits, which eventually increased to 2.5 million kits later on. Such efforts indicate that the world is leaving no stone unturned to mitigate the pandemic's ghastly impact on human lives. It has also been observed that the pandemic has compelled many industrial verticals to lay off their employees as a cost-cutting initiative. As more people are becoming unemployed, anxiety and depression levels are registering upward sloping curves. Consequently, habits such as smoking have increased, directly impacting the respiratory health of these people. In this scenario, the number of patients seeking respiratory treatment and testing has augmented, providing traction to the respiratory pathogen kits testing market.

Explore the respiratory pathogen testing kits market report comprising of 175 illustrative figures, 32 data tables and the table of contents. You can also find a detailed market segmentation on https://www.futuremarketinsights.com/askus/rep-gb-10542

Competition Landscape

The global respiratory pathogen testing kits market comprises of the following prominent market players: Hoffmann-La Roche Ltd., bioMerieux Inc., Danaher Corporation, Becton Dickinson and Company, Abbot Laboratories, Thermo Fisher Scientific Corporation, MyLab and Altona Diagnostics. Technological enhancements to reduce the time gap between the testing procedure and delivery of results and competitive pricing are providing the abovementioned market players with a distinct competitive advantage. Additionally, these companies are broad basing their product portfolio in order to cater to the needs of different consumers, leading to a global market footprint. Moreover, Asia-Pacific is emerging a lucrative destination for key market players to establish their business owing to a large population pool and the consequent prevalence of respiratory disorders.

Know More about Respiratory Pathogen Testing Kits Market

Future Market Insights, through its latest offering, brings wide-spread analysis at global, regional, and country levels. Historical demand data (2015-2019) and forecast statistics (2020-2030) are presented. The global respiratory pathogen testing kits market covers every aspect of the respiratory pathogen testing kits market and tables a complete market intelligence approach to the reader. The study provides compelling insights on respiratory pathogen testing kits market on basis of product type (RT-PCR Kits, DFA Kits, ELISA Kits and Others), by infections/symptoms (Enterovirus Infection, Human Corona Virus Infection, Influenza Virus Infection, Respiratory Syncytial Virus Infection, Rhinovirus Infection, Pneumonia and others), by Technology (Nucleic acid amplification, Immunoassay and others) and End User (Diagnostic Centers, Hospitals and specialty clinics) across seven major regions.

About Healthcare division of FMI

The Healthcare team at Future Market Insights has consistently tracked and analyzed rapidly evolving trends and developments in the global healthcare industry, encompassing pharmaceuticals and medical devices markets. The team facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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SOURCE: Future Market Insights

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