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
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
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Details
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Forecast Period
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2020 to 2027
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Base Year
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2019
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Historic Years
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2018 (Customizable to 2017 - 2012)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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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.
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Market Players Covered
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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.).
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Data Points Covered in Report
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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.
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Segment Analysis:
The respiratory diagnostics market is segmented on the basis of product and services, test type, diseases, end user and distribution channel.
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.
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).
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
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
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.
For More Detailed Information About the Respiratory Diagnostics Market Report, Click Here – https://www.databridgemarketresearch.com/reports/global-respiratory-diagnostics-market
Global Respiratory Diagnostics Market – Industry Trends and Forecast to 2029
Asia-Pacific Respiratory Diagnostics Market – Industry Trends and Forecast to 2027
North America Respiratory Diagnostics Market – Industry Trends and Forecast to 2027
Europe Respiratory Diagnostics Market – Industry Trends and Forecast to 2029
Middle East and Africa Respiratory Diagnostics Market – Industry Trends and Forecast to 2027