Increasing Requirement of Respiratory Diagnostics for Respiratory Diseases to Propel the Market Growth

The Surging Respiratory Diseases Across the world is the third leading cause of death worldwide. According to the studies, it is estimated that around 65 million people worldwide are suffering from the chronic obstructive pulmonary disease (COPD) and due to which every year, 3 million peoples die. Smoking is one of the main causes of respiratory diseases; every year in China, around 300 million people smoke more than 2,000,000 million cigarettes. Consequently, the increasing rate of respiratory diseases has accelerated the growth of the global respiratory diagnostics market.

Data Bridge Market Research analyses that the Respiratory Diagnostics Market is expected to grow at a CAGR of 7.5% in the forecast period of 2021 to 2028 and is expected to reach USD 10,425.37 million by 2028. The increasing cases of chronic respiratory disease require an increase in the rate of respiratory diagnostics for early detection, which is projected to propel the market's growth.

Key Findings of the Study

  • The respiratory diagnostics market is anticipated to reach a value of USD 10,425.37 million by 2028, with a CAGR of around 7.5% during the forecast period.
  • North America dominated the respiratory diagnostics market in 2021 due to the increased prevalence of respiratory disease, advanced healthcare systems and surging anti-aging population.
  • The 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.
  • Rising cases of covid-19 has increased the demand of respiratory diagnostics, which will have an overall positive impact over the market growth.
  • Asia-Pacific is expected to grow during the forecast period due to the growing technological advancements in respiratory disease testing in this region.

Surging Number of Smokers and Consumption of Alcohol are Expected to Drive the Market's Growth Rate

Smoking and consumption of alcohol have increased the risk of various respiratory diseases. Smoking is one of the major causes of respiratory diseases across the world. The rising number of smokers and consumption of alcohol has the impact of increasing the number of respiratory cases worldwide. The consumption of alcohol and smoking directly effects respiratory system. The rate of cigarette smoking and consumption of alcohol among young people has continued to increase steadily. In 2018, According to the World Health Organization (WHO), the worldwide overall intake of alcohol was equivalent to 6.2 liters of pure alcohol per person between the ages of 15 and older.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2020 to 2027

Base Year

2019

Historic Years

2018 (Customizable to 2017 - 2012)

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), BD (U.S.), COSMED srl (Italy),  Abbott (U.S), F. Hoffmann-La Roche Ltd., (Switzerland), NIHON KOHDEN CORPORATION (Japan), Drägerwerk AG & Co. KGaA (Germany), Bio-Rad Laboratories, Inc., (U.S.), Thermo Fisher Scientific Inc., (U.S.),  MGC Diagnostics Corporation, (U.S.),  Masimo, (U.S.),  bioMérieux SA (France), Carestream Health(U.S.), VYAIRE MDICAL INC., (U.S.), Seegene Inc., (South Korea) and SDI Diagnostics (U.S.).

Data Points Covered in Report

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:

The respiratory diagnostics market is segmented on the basis of product and services, test type, diseases, end user and distribution channel.

  • On the basis of product and 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.

The Instruments and Devices Segment Is Expected to Dominate the Respiratory Diagnostics Market

The instruments and devices segment is expected to dominate the respiratory diagnostics market with 63.32% market share in the forecast period as the prevalence of respiratory diseases increases. The continuous need for diagnostics instruments and devices also increases in 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. The traditional diagnostic tests segment is expected to dominate the respiratory diagnostics market with 42.41% market share because the developing countries widely use traditional diagnostic tests 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. The chronic obstructive pulmonary disease (COPD) segment is expected to dominate the respiratory diagnostics market.

The Chronic Obstructive Pulmonary Disease (COPD) Segment Is Expected To Dominate the Respiratory Diagnostics Market

In 2020, chronic obstructive pulmonary disease (COPD) segment is expected to dominate the respiratory diagnostics market with 27.61% market share because of increasing indoor and outdoor air pollution, cigarettes smoking and tobacco consumption, and high number of deaths caused by chronic obstructive pulmonary disease (COPD).

  • On the basis of end user, global respiratory diagnostics market is segmented into hospital/clinical laboratories, physician offices, reference laboratories and other end users. The 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 to diagnose respiratory diseases due to their complex nature and required trained professionals and advanced professionals technology for diagnosis.
  • On the basis of distribution channel, global respiratory diagnostics market is segmented into direct tender, retail sales and other. The direct tender segment is expected to dominate the respiratory diagnostics market with 69.95% market share as 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: Respiratory Diagnostics Market

Data Bridge Market Research recognizes the following companies as the major respiratory diagnostics market players in respiratory diagnostics market are VYAIRE MDICAL INC., (U.S.), GENERAL ELECTRIC (U.S.), bioMérieux SA (France), BD (U.S.), NIHON KOHDEN CORPORATION (Japan), Drägerwerk AG & Co. KGaA (Germany) and Masimo, (U.S.).

Market Development

  • In May 2020, the FDA approved Abbott's emergency use authorization for Abbott RealTime SARS-CoV-2 EUA tests, COVID-19 detection test. This approval received by the company has enhanced its product portfolio leading to increased sales which ultimately boosted the company’s revenue.
  • In June 2020, GE Healthcare launched Thoracic Care Suite. The Thoracic Care Suite has eight artificial intelligence (AI) algorithms that allow the detection of chest X-ray abnormalities, including pneumonia, a symptom associated with COVID-19. This new product launched by the company during the prevalence of COVID-19 has enhanced the credibility of the company in the market.
  • In February 2020, COSMED srl acquired the Innovision ApS, which is engaged in the manufacturing of ventilation heterogeneity (lung clearance index), hemodynamic (cardiac output) and metabolic measurements (VO2Max). This acquisition has enhanced the company product portfolio and allowed it to penetrate in Nordic regions, which further boosted its revenue.
  • In April 2020, Koninklijke Philips N.V. launched Philips respironics E30 ventilator. The new emergency ventilator system allows patients to efficiently receive their normal breath while the emergence of COVID-19. This product launch boosted the company product portfolio and allowed it to generate more revenue.

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 During the Forecast Period 2021 - 2028

  • In 2021, North America dominated the respiratory diagnostics market owing to the increased prevalence of respiratory disease, advanced healthcare systems and surging anti-aging population. North America will continue to dominate the respiratory diagnostics market share and market revenue and continue to flourish its dominance during the forecast period. This is due to the availability of advanced technology and launch of new products in this region.

Asia-Pacific is Estimated to be the Fastest-Growing Region in Respiratory Diagnostics Market the Forecast Period 2021 - 2028

Asia-Pacific is expected to grow during the forecast period due to the growing technological advancements in respiratory disease testing in this region. In addition to this, increasing per-capita income are expected propel the market's growth rate in this region.

COVID-19 Impact Analysis

The COVID-19 caused by the SARS-CoV-2 virus is basically a newly discovered infectious disease. It is chronic respiratory disease with pneumonia, but can affect many body organs such as the kidneys, the digestive tract, heart, blood and nervous system. The coronavirus is also a respiratory disease, and the increased demand for the treatment and diagnosis on a global level has largely impacted the growth of the market.

The respiratory diagnostics market was positively affected by the outbreak of the pandemic as there was an increase in respiratory diagnostics by the various healthcare facilities, which further resulted in the demand for the market. The increased product demand favored the market growth. Moreover, increased investments within the respiratory diagnostics and increased demand for the diagnosis procedure have immensely impacted the market.

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