C-reactive Protein Testing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
C-reactive Protein Testing Market: Overview
The C-reactive protein testing market is projected to experience significant growth opportunities in the forthcoming years. Plasmonic Nanoparticles (PNPs) have been among the significant tools that are applied for biosensing applications because of their versatile optical properties. The newly designed point-of-care assays are used for rapid CRP testing. Owing to these technological advancements, the C-reactive protein testing market has been estimated to accelerate the growth avenues.
Advancements in nanotechnological tools have been estimated to provide lucrative prospects to design portable bioanalytical assays with sensitivity and high specificity and quick response time. Further, these technological advancements in the tools also provide multiplexing capabilities for onsite accurate disease diagnosis and monitoring.
C-reactive Protein Testing Market: Key Trends
The sudden outbreak of the COVID-19 has put negative impacts on the growth prospects of different industries or markets. But the C-reactive protein testing market on the other hand has been predicted to bolster innumerable growth avenues in the forthcoming years. This increased market growth is on the back of growing demand for CRP testing in clinical and research settings.
The hospital segment has been projected to dominate the market in the upcoming years. This section accounts for the largest share in the market revenue. This market dominance of the C-reactive protein testing is on the back of the growing application of CRP testing in the hospitals and that too in the developing regions around the world. Further, growing cases of cancer-related infections, cardiovascular disorders, and the COVID-19 incidents are stimulating the increasing visits to hospitals and further lead to the adoption of the CRP testing kits. Owing to these factors, a significant increase in the growth avenues is expected in the forthcoming years.
The clinics segment has also been projected to hold a significant share in the revenue portion of the C-reactive protein testing market. This testing methodology has undergone significant technological developments in the field of hs-CRP and point-of-care. Owing to the present COVID-19 pandemic, the clinics are anticipated to fuel demand opportunities in the C-reactive protein testing market.
C-reactive Protein Testing Market: Competitive Dynamics and Key Developments
The key players operating in the C-reactive protein testing market have been adopting different strategies to bolster growth opportunities in the forthcoming years. The key market players are adopting various strategies such as acquisitions, mergers, and novel product launches to fuel growth opportunities in the market.
For instance, Boditech Med, Inc. has announced its plans to expand the two-fold production capacity in July 2021. Further, in March 2021, the company has announced the construction of the new R & D center at Chuncheon, South Korea. By March 2022, it has been anticipated that the center will become operational.
Some prominent players in the global C-reactive protein testing market include:
C-reactive Protein Testing Market: Regional Assessment
The C-reactive protein testing market is spread across different geographical locations across the globe including, North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. Among these regions, North America has been anticipating to hold a dominating position in the market. This market dominance is on the back of increasing concentration on clinical research and the adoption of advanced and innovative technology. Further, the growing number of cancer patients in the region is likely to fuel significant growth opportunities in the market. Further increasing recommendations by the government bodies to adopt C-reactive protein testing is also projected to fuel expansion opportunities in the market.
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