North America Respiratory Diagnostics Market By Product & 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), Country (U.S., Canada and Mexico) Industry Trends and Forecast to 2027
The 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 7.1% in the forecast period of 2020 to 2027 and is expected to reach USD 5,028.93 million by 2027. Rising prevalence of infectious diseases and growing number of COVID-19 cases are the major drivers which propelled the demand of the market in the forecast period.
The increasing prevalence of respiratory diseases has placed a major concern for the accurate diagnosis of diseases and hence paved the way for the growth of the respiratory diagnostics market. Along with this, the growing number of alcohol consumers, smokers and lifestyle changes are also contributing to the respiratory diagnostics market. Moreover, the supports of government and non-governmental organizations have also led to the growth of the respiratory diagnostics market. Other factors responsible for the constant growth of the respiratory diagnostics market are increasing aging population, increasing pollution level and improving research and development among others.
- In recent years, new innovative technologies have been developed for respiratory diagnostics. The large number of market players is involved in the manufacturing of technologically advanced devices used for the diagnosis of respiratory conditions which is leading the way for the growth of the respiratory diagnostics market.
The respiratory diagnostics market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized 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 respiratory diagnostics market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
The respiratory diagnostics market is segmented on the basis of product & services, test type, diseases, end user and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core influencing areas and the difference in your target markets.
- On the basis of product & services, the respiratory diagnostics market is segmented into instruments and devices, assays and reagents and services and software. In 2020, instruments and devices segment dominates the respiratory diagnostics market as the incidence of respiratory diseases increases and so does the need for diagnostic instruments and devices in laboratories and at home healthcare diagnostics.
- On the basis of test type, the respiratory diagnostics market is segmented into traditional diagnostic tests, mechanical tests, imaging tests and molecular diagnostic tests. In 2020, traditional diagnostic tests segment dominates the respiratory diagnostics market because traditional diagnostic tests are widely used in developing countries and allow patients to get very effective results in less time while working faster which further improves treatment.
- On the basis of diseases, the 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 dominates the respiratory diagnostics market due to increased indoor & outdoor air pollution, cigarette and tobacco consumption.
- On the basis of end user, the respiratory diagnostics market is segmented into hospital/clinical laboratories, physician offices, reference laboratories and other end users. In 2020, hospital/clinical laboratories segment dominate the respiratory diagnostics market as hospitals and clinical laboratories are the first and foremost place in the diagnosis of respiratory diseases due to their complex nature and advanced technology required for trained professionals and diagnostics.
- On the basis of distribution channel, the respiratory diagnostics market is segmented into direct tender, retail sales and other. In 2020, direct tender dominates the respiratory diagnostics market because the equipment and devices used to diagnose respiratory diseases are very expensive and can be purchased through direct tender after comparing the price and effectiveness of the products.
Respiratory Diagnostics Market Country Level Analysis
The respiratory diagnostics market is analyzed and market size information is provided by the basis of product & services, test type, diseases, end user and distribution channel as referenced above.
The countries covered in the respiratory diagnostics market report are the U.S., Canada and Mexico.
Professional apparel segment in North America region is expected to grow with the highest growth rate in the forecast period of 2020 to 2027 because of continuous increasing patient pool of coronavirus disease (COVID-19). North America is expected to dominate the market as due to the cases of respiratory diseases, presence of leading market players, and rising cases of COVID-19. The U.S. dominates in North America respiratory diagnostics market due to advanced healthcare system and strong distribution channels.
The country section of the 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 new sales, replacement sales, 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 North America brands 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.
Rising Prevalence of Infectious Diseases and Rising Cases of COVID-19 has Increased the Demand of Respiratory Diagnostics are boosting the Market Growth of Respiratory Diagnostics Market
Respiratory diagnostics market also provides you with detailed market analysis for every country growth in respiratory diagnostics industry with respiratory diagnostics drugs sales, impact of advancement in the respiratory diagnostics technology and changes in regulatory scenarios with their support for the respiratory diagnostics market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Respiratory Diagnostics Market Share Analysis
The 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 company’s focus related to respiratory diagnostics market.
The major companies which are dealing in the respiratory diagnostics are GE Healthcare (a subsidiary of GENERAL ELECTRIC COMPANY), Koninklijke Philips N.V., Medtronic, BD, COSMED srl, Abbott, F. Hoffmann-La Roche Ltd, NIHON KOHDEN CORPORATION, Drägerwerk AG & Co. KGaA, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., MGC Diagnostics Corporation, Masimo, bioMérieux SA, Carestream Health, VYAIRE, Seegene Inc., ResMed, and SDI Diagnostics among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launches and agreements are also initiated by the companies’ worldwide which are also accelerating the respiratory diagnostics market.
- In September 2020, F. Hoffmann-La Roche Ltd received emergency use approval from the United States FDA for testing cobas SARS-CoV-2 and influenza A/B used in the F600 / 80,000 system. As a result of the company’s approval of this emergency use, SARC has increased demand for its diagnostic products for Covid, which has increased sales and revenue.
- In May 2020, F. Hoffmann-La Roche Ltd received Emergency Use Authorization (EUA) approval from the American Food and Drug Administration (FDA) for a product called Alexis Anti-SARS-CoV-2 Antibody Test. The FDA approval obtained by the company during the emergence of COVID-19 will increase its revenue and sales in the market.
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market players is enhancing the company market in the respiratory diagnostics market which also provides the benefit for organization to improve their offering for respiratory diagnostics.
Customization Available: North America Respiratory Diagnostics Market
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