Europe Respiratory Diagnostics Market, By Product & Services (Instruments and Devices, Assays and Reagents and Services and Software), Test Type (Traditional Diagnostic Tests, Mechanical Tests, Imaging Tests and Molecular Diagnostic Tests), Diseases (Chronic Obstructive Pulmonary Disease (COPD), Lung Cancer, Asthma, Tuberculosis, Bronchitis, Pulmonary Fibrosis and Other Diseases), End User (Hospital/Clinical Laboratories, Physician Offices, Reference Laboratories and Other End Users), Distribution Channel (Direct Tender, Retail Sales and Other) Industry Trends and Forecast to 2027
Europe respiratory diagnostics market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.9% in the forecast period of 2020 to 2027 and expected to reach 2,628.58 million by 2027. Increases case of chronic diseases and increasing geriatric population are the major drivers of market which propelled the demand of the market in the forecast period.
Respiratory diagnostics have a major role in the medicinal technology sector. It involves the clinical assessment of several kinds of respiratory conditions such as bronchitis, asthma, COPD, pulmonary fibrosis among others by using various kinds of mechanical, imaging and molecular diagnostics tests. Respiratory diagnostics involve procedures such as spirometry, computed tomography, oximetry, transcutaneous carbon dioxide monitoring, chest X- ray, sniff nasal inspiratory pressure (SNIP) among several other types. Now various technological innovations have taken place in respiratory diagnostic testing which paved the way for the market growth, this includes incorporation of artificial intelligence, utilization of internet of things (IoT) among others.
The growing prevalence of respiratory diseases has put a major concern for accurate diseases diagnosis and hence paved the way for the respiratory diagnostics market growth. Along with this, increasing number of alcohol consumers, smokers and changing lifestyle is another contributor for the respiratory diagnostics market. Moreover, government and non-government organization support has also led to the respiratory diagnostics market growth. Other factors which are responsible for constant respiratory diagnostics market growth are raising ageing population, increasing pollution level and enhanced research and developments among others.
The Europe respiratory diagnostics market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Europe respiratory diagnostics market is categorized into five notable segments which are based on the product & services, test type, diseases, end user and distribution channel. The growth among segments helps you to analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product & services, Europe respiratory diagnostics market is segmented into instruments and devices, assays and reagents and services and software. In 2020, instruments and devices segment is dominating the respiratory diagnostics market 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, Europe respiratory diagnostics market is segmented into traditional diagnostic tests, mechanical tests, imaging tests and molecular diagnostic tests. In 2020, traditional diagnostic tests segment is dominating the respiratory diagnostics market because rising need for the management of respiratory diseases and the 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, Europe respiratory diagnostics market is segmented into chronic obstructive pulmonary disease (COPD), lung cancer, asthma, tuberculosis, bronchitis, pulmonary fibrosis and other diseases. In 2020, chronic obstructive pulmonary disease (COPD) segment is dominating the respiratory diagnostics market because of due to increasing prevalence of various kinds of respiratory diseases. However, the lack of reimbursement is expected to restrain the market growth.
- On the basis of end user, Europe respiratory diagnostics market is segmented into hospital/clinical laboratories, physician offices, reference laboratories and other end users. In 2020, hospital/clinical laboratories segment is dominating the respiratory diagnostics market 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, Europe respiratory diagnostics market is segmented into direct tender, retail sales and other. In 2020, direct tender segment is dominating the respiratory diagnostics market because of the availability of respiratory diagnostic devices through direct tender, retail sales; moreover, the market players are adopting several strategic partnerships to avail their products to consumers.
Europe Respiratory Diagnostics Market Country Level Analysis
Europe respiratory diagnostics market is analysed and market size information is provided by product & services, test type, diseases, end user and distribution channel.
Germany respiratory diagnostics market is growing primarily due to increasing focus on the high prevalence of the disorders among old aged group. The rising social media concerns are also acting as significant growth factors for the market.
The country section of the Europe respiratory diagnostics market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as sales, FDA approvals, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe branded and generic drug manufacturers and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Prevalence of Respiratory Diseases is Propelling the Market Growth
Europe respiratory diagnostics market also provides you with detailed market analysis for every country growth with changes in regulatory scenarios with their support for the Europe respiratory diagnostics market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Europe Respiratory Diagnostics Market Share Analysis
Europe respiratory diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Europe respiratory diagnostics market.
The companies engaged in the Europe respiratory diagnostics market are BD, COSMED srl, Abbott, NIHON KOHDEN CORPORATION, Drägerwerk AG & Co. KGaA, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., GE Healthcare (A Subsidiary of GENERAL ELECTRIC COMPANY), Koninklijke Philips N.V., Medtronic, F. Hoffmann-La Roche Ltd, MGC Diagnostics Corporation, Masimo, bioMérieux SA, Carestream Health, VYAIRE, Seegene Inc. and ResMed, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch, approval, partnership and agreement are also initiated by the companies’ worldwide which are also accelerating the Europe respiratory diagnostics market.
- In September 2020, Abbott launched Panbio COVID-19 Rapid Test in France for supporting the detection of rapidly rising COVID-19 patients in France. This launch of diagnostic test by the company has increased its credibility in the market.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the warts treatment market which also provides the benefit for organisation to improve their offering for respiratory diagnostics.
Customization Available : Europe Respiratory Diagnostics Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.