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Press Release

Feb, 14 2023

Rise in Prevalence of Respiratory Diseases Drives Market Growth during the Forecast Period

One of the main factors fueling the market's expansion is the rising prevalence of respiratory disorders. Rising rates of COPD and other severe respiratory illnesses such as lung cancer, are a result of rising rates of smoking and alcohol use as well as sedentary lifestyle practices and stressful daily routines. Additionally, a number of technical advancements in respiratory diagnostic tests, such as the use of IoT and AI for the diagnosis of COPD and outpatient management, are having a beneficial impact on the market's expansion.

Data Bridge Market Research analyses that the Respiratory Diagnostics Market is expected to grow at a CAGR of 8.00% in the forecast period of 2023 to 2029 and is expected to reach USD 13.78 billion by 2029 from USD 7.45 billion in 2021.

Respiratory Diagnostics Market

Rising pollution level in the environment is expected to drive the market

Rising pollution in the environment is driving the respiratory diagnosis market forward. People all over the world have inculcated various bad habits that infect lungs and destroy them internally at a slow pace, increasing the severity of the disease over time. For instance, smoking and drinking habits have a negative impact on the human body. The market for respiratory diagnostics is also expected to grow as a result of the installation of diagnostic equipment in multispecialty hospitals, private hospitals, healthcare facilities, and government-sponsored healthcare initiatives.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Product and Services (Instruments and Devices, Assays and Reagents, Services and Software), Test Type (Traditional Diagnostic Tests, Mechanical Tests, Imaging Tests, Molecular Diagnostic Tests), Diseases (Chronic Obstructive Pulmonary Disease (COPD), Lung Cancer, Asthma, Tuberculosis, Bronchitis, Pulmonary Fibrosis, Other Diseases), End User (Hospital/Clinical Laboratories, Physician Offices, Reference Laboratories, Other End Users), Distribution Channel (Direct Tender, Retail Sales, Other)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

General Electric  (U.S.), Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), COSMED srl (Italy), F. Hoffmann-La Roche Ltd (Switzerland), NIHON KOHDEN CORPORATION (Japan), Drägerwerk AG & Co. KGaA (Germany), Bio-Rad Laboratories, Inc. (U.S.), GC Diagnostics Corporation (South Korea), Masimo (U.S.), BIOMÉRIEUX (France), Carestream Health (U.S.), Thermo Fisher Scientific (U.S.), Novartis AG (Switzerland), Abbott (U.S.), Johnson & Johnson Services, Inc. (U.S.), GSK plc (U.K.), Bayer AG (Germany) and BD (U.S.)   

Data Points Covered in the Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Segment Analysis:

Global respiratory diagnostics market is categorized into five notable segments which are based on product & services, test type, diseases, end user and distribution channel.

  • On the basis of product & services, global respiratory diagnostics market is segmented into instruments and devices, assays and reagents and services and software.

Instruments and devices segment is expected to dominate the respiratory diagnostics market

Instruments and devices segment is expected to dominate the respiratory diagnostics market with 63.32% market share because as the prevalence of respiratory diseases increases, the continuous need of diagnostics instruments and devices also increases in the laboratories and home healthcare diagnosis.

  • On the basis of test type, global respiratory diagnostics market is segmented into traditional diagnostic tests, mechanical tests, imaging tests and molecular diagnostic tests. Traditional diagnostic tests segment is expected to dominate the respiratory diagnostics market with 42.41% market share because traditional diagnostic tests are widely used by the developing countries and quick work time of these tests allow patients to get effective results at less span of time which further improves the treatment procedure.
  • On the basis of diseases, global respiratory diagnostics market is segmented into chronic obstructive pulmonary disease (COPD), lung cancer, asthma, tuberculosis, bronchitis, pulmonary fibrosis and other diseases. Chronic obstructive pulmonary disease (COPD) segment is expected to dominate the respiratory diagnostics market with 27.61% market share because of increasing indoor & outdoor air pollution, cigarettes smoking and tobacco consumption and globally 3.17 million deaths were caused by chronic obstructive pulmonary disease (COPD) only.   
  • On the basis of end user, global respiratory diagnostics market is segmented into hospital/clinical laboratories, physician offices, reference laboratories and other end users. Hospital/clinical laboratories segment is expected to dominate the respiratory diagnostics market with 55.65% market share because hospitals and clinical laboratories are the first and primary place for the diagnosis of respiratory diseases due to their complex nature and required trained professionals and advanced technology for diagnosis.
  • On the basis of distribution channel, global respiratory diagnostics market is segmented into direct tender, retail sales and other.

Direct tender segment is expected to dominate the respiratory diagnostics market

Direct tender segment is expected to dominate the respiratory diagnostics market with 69.95% market share because the instruments and devices used for the diagnosis of respiratory diseases are too costly and can be purchased via direct tenders, after comparing the price and efficacy of the products. 

Major Players

Data Bridge Market Research recognizes the following companies as the major respiratory diagnostics  market players in respiratory diagnostics  market are General Electric  (U.S.), Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), COSMED srl (Italy), F. Hoffmann-La Roche Ltd (Switzerland), NIHON KOHDEN CORPORATION (Japan), Drägerwerk AG & Co. KGaA (Germany), Bio-Rad Laboratories, Inc. (US), GC Diagnostics Corporation (South Korea), Masimo (US), BIOMÉRIEUX (France), Carestream Health (U.S.), Thermo Fisher Scientific (U.S.), Novartis AG (Switzerland), Abbott (U.S.), Johnson & Johnson Services, Inc. (US), GSK plc (U.K.), Bayer AG (Germany) and BD (U.S.)   

Respiratory Diagnostics Market

Market Development

  • In 2020, The FDA approved Abbott's emergency use of its Abbott RealTime SARS-CoV-2 EUA tests and COVID-19 detection test. The company's product range has been improved to the approval it gained, which has raised sales and, eventually, increased the company's revenue.
  • In 2020, GE Healthcare introduced Thoracic Care Suite. Eight artificial intelligence (AI) algorithms in the Thoracic Care Suite enable the identification of aberrant chest X-ray findings, including pneumonia, a COVID-19 symptom. The company's new product, which it introduced at a time when COVID-19 was common, has improved the company's reputation in the marketplace.

Regional Analysis

Geographically, the countries covered in the respiratory diagnostics  market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

As per Data Bridge Market Research analysis:

North America is the dominant region in respiratory diagnostics market in the forecast period 2022 - 2029

North America is dominating the market because respiratory conditions such as asthma and chronic obstructive pulmonary disease (COPD) are becoming more common. North America currently has the largest market share in the healthcare industry due to its adoption of cutting-edge innovations and technology. Additionally, because these technologies are software-based, they provide accurate diagnostic care without any defects.

Asia-Pacific is estimated to be the fastest growing region in respiratory diagnostics market in the forecast period 2022 - 2029

Asia-Pacific is expected to grow at the highest growth rate due to expanding emerging markets for respiratory diagnostics to provide better health care infrastructure and to raise patient awareness about the accessibility of diagnostic methods and cutting-edge technology.

COVID-19 Impact Analysis

The COVID-19 pandemic had a significant impact on the market. This is because the majority of healthcare resources were directed toward meeting the demand generated by COVID-19 patients. The postponement of non-elective surgeries and non-essential healthcare procedures has slowed the market's growth rate during this pandemic. Lockdowns, quarantines, and social isolation have exacerbated many posture-related issues. Furthermore, travel restrictions imposed by lockdown regulations hampered market growth during this period. However, the post pandemic period will aid in the generation of profits and revenues.

For more detailed information about the respiratory diagnostics market report, click here – https://www.databridgemarketresearch.com/reports/global-respiratory-diagnostics-market 


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