The global C-Reactive Protein Testing Market size is expected to reach USD 5.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 0.3% from 2021 to 2028. The market growth can be attributed to substantial research activities to explore the applications of C-reactive protein (CRP) testing coupled with the presence of private as well as public agencies which grant funds to expedite the research proceedings in this arena.
A rise in the number of strategic deals and
developments coupled with the increase in investments for R&D of C-reactive
protein testing is expected to drive the market significantly. The ongoing
COVID-19 pandemic has affected the CRP testing market to a great extent. As CRP
is considered to be the determining biomarker for the severity of
infection/inflammation, the market is witnessing increased demand for CRP
testing services and products. Major operating companies such as Abbott offer
supportive tools for CRP testing for SARS-CoV-2 infection.
The development of novel technologies to analyze CRP
concentration is a high-impact rendering driver for market growth. The
emergence and advances in nano-technological tools are expected to provide an
attractive perspective in designing portable bioanalytical assays with high
specificity and sensitivity, faster response time, and multiplexing
capabilities for on-site accurate disease diagnosis, and monitoring. Plasmonic
nanoparticles (PNPs) is a tool that can be used for bio-sensing applications
owing to their versatile optical properties.
Related Press Release@ C-reactive Protein Testing Market Report
C-reactive Protein Testing Market
Report Highlights
- The immunoturbidimetric assay generated the largest revenue share
amongst all the assay types in 2020 owing to the development and launch of
the highly sensitive, automated, and less expensive immunoturbidimetric
assay with a broad measuring range for the levels of C-reactive protein in
samples
- hs-CRP was the highest revenue-generating detection range segment
in 2020 as it features a broad detection range as compared to conventional
CRP
- Cardiovascular diseases are the most common application of
c-reactive protein testing and is anticipated to dominate the market
throughout the analysis period
- This is because of the high adoption rate of c-reactive protein
tests to detect inflammation in arteries and thus patients at high risk
for heart attack, stroke, peripheral arterial diseases, and other
cardiovascular disorders
- The hospitals segment registered the market share in 2020 owing to
the rising penetration of CRP testing in hospitals, especially after the
COVID-19 pandemic, and thereby increase in the testing rate
- North America accounted for the largest market share in 2020. This
can be attributed to various factors such as well-established healthcare
infrastructure, supportive government policies, and high R&D
investments in the region
- In addition, the rising incidence of chronic heart diseases and
cancers is also one of the major factors responsible for market growth
- The Asia Pacific is projected to grow at the fastest pace. The
COVID-19 pandemic was originated in China. Being the potential biomarker
for determining the severity of the infection and the rapidly increasing
number of COVID-19 cases in Asian countries, the demand for CRP testing is
expected to increase in the near future
- According to an article published in June 2021, doctors are
recommending CRP testing for the COVID-19 patients with critical
conditions who are in hospital care. This is expected to increase the
demand, in turn, driving the market
- These companies are involved in their business expansion through
the launch of novel products and expand their market presence through
agreements, partnerships, and other initiatives
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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