Respiratory Diagnostics Market Size, Share Global Analysis Report, 2022 – 2030

Industry Insights

[231+ Pages Report] According to the report published by Facts and Factors, the global respiratory diagnostics market size was worth around USD 8.21 billion in 2021 and is predicted to grow to around USD 13.81 billion by 2030 with a compound annual growth rate (CAGR) of roughly 9.12% between 2022 and 2030. The report analyzes the global respiratory diagnostics market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the respiratory diagnostics industry.

Market Overview

Respiratory disorders are related to the condition and functioning of the lungs along with other respiratory systems. They are medical concerns like cystic fibrosis, asthma, lung cancer, pulmonary hypertension, mesothelioma, and tuberculosis. If these issues are left untreated they can lead to severe health-related complications which may even turn life-threatening after crossing a certain threshold. However, diagnosis plays an important role in determining the exact treatment plan that can effectively treat or cure the disease. The onus of diagnosis lies with the physician handling the case where they must conclude the source and reason for the respiratory disorder. Once the information collected is evaluated using efficient techniques, the concerned medical professional, which is generally a pulmonologist, will determine the treatment that the patient needs to undergo. There are different types of tests or diagnostic tools that can be used to treat respiratory conditions; however, patients are also required to play their part in terms of regular check-ups and monitoring of trigger points to minimize the overall symptoms.

Key Insights

• As per the analysis shared by our research analyst, the global respiratory diagnostics market is estimated to grow annually at a CAGR of around 9.12% over the forecast period (2022-2030)
• In terms of revenue, the global respiratory diagnostics market size was valued at around USD 8.21 billion in 2021 and is projected to reach USD 13.81 billion, by 2030.
• The respiratory diagnostics industry is projected to grow at a significant rate due to the growing number of respiratory disorders
• Based on disease segmentation, asthma was predicted to show maximum market share in the year 2021
• Based on products & services segmentation, instrument & devices were the leading products in 2021
• On the basis of region, North America was the leading revenue generator in 2021

Growth Drivers

• Growing medicinal cases of respiratory disorders to propel market demand

The global respiratory diagnostics market is projected to grow owing to the rising prevalence of different types of respiratory disorders. Even mild forms of such conditions can dramatically impact the overall quality of life and in some cases, they can even be fatal which means that patients suffering from respiratory conditions like asthma, tuberculosis, and lung cancer amongst other diseases have to ensure that the condition remains under control while undergoing treatment. One of the most common respiratory conditions is asthma which leads to the narrowing and swelling of the airway resulting in the production of extra mucus. There is no cure for the disease and all the available medical plans can only assist patients in managing the symptoms which include shortness of breath, wheezing during exhalation, chest pain or tightness along with other more severe symptoms. As the number of people suffering from multiple respiratory conditions will increase, the demand for effective diagnostic tools is projected to grow simultaneously.

Restraints

• Insufficient medical reimbursement policies to restrict market expansion

There are a limited number of medical insurance providers or programs related to reimbursement while undergoing medical diagnosis. Many patients across the globe largely depend on the benefits of reimbursement as in certain countries the cost of undergoing diagnosis is exceptionally high including developed countries. The lack of favorable medical reimbursement could act as a growth restraint for the respiratory diagnostics industry as the cost of treatment exceeds the total income of the person, and in some cases, the entire family. For instance, lung cancer treatment, which includes accurate diagnosis, can go up to USD 16000.

Opportunities

• Growing healthcare infrastructure to provide growth opportunities

The global respiratory diagnostics market is projected to benefit from the growing investments in the global healthcare segment. Regional governments along with international healthcare bodies are striving to provide excellent medical care to the general population across income groups irrelevant of social, political, or economic background. For instance, in 2021, the US government spending on healthcare increased by almost 2.7% reaching more than USD 4 trillion. Similarly, other developing nations have amped up their efforts in acknowledging the roadblocks and overcoming them in terms of healthcare infrastructure.

Challenges

• Managing the cost of research and product innovation to challenge the market expansion

One of the major challenges faced by the global respiratory diagnostics industry players is related to the cost of product research and innovations. The changing political dynamics have largely impacted the world trade scenario due to fluctuating prices of raw materials, especially influencing transportation costs. Furthermore, the growing situations pointing toward an incoming recession in the next few years could also create more challenges that the market players may have to navigate through.

Segmentation Analysis

The global market is segmented based on disease, test type, products & services, end-user, and region

Based on disease, the global market is divided into bronchitis, lung cancer, pulmonary fibrosis, tuberculosis, asthma, and others.

• The global market was dominated by the asthma segment in 2021 followed by pulmonary fibrosis and lung cancer
• Asthma is one of the most prevalent respiratory diseases with the Asthma and Allergy Foundation of America reported that almost 9.8% of the female population suffers from the condition
• It is more prevalent in women than men and almost 11 people die every day due to complications arising out of the condition, in the USA
• Growing awareness and proactive testing for lung cancer could drive the segmental demand during the forecast period

Based on test type, the respiratory diagnostics industry is divided into OSA diagnostic tests, mechanical tests, traditional diagnostic tests, molecular diagnostics tests, and imaging tests.

Based on end-user, the global market is segmented into direct tender, retail sales, and others.

Based on products and services, the global market is divided into instruments & devices, assays & reagents, and service & software

• The respiratory diagnostics industry is expected to be dominated by the instrument & devices segment during the projection period owing to the wide-scale applications of the equipment in accurate diagnosis
• For instance, imaging tools like positron emission tomography (PET) scans, computed tomography (CT) scans or magnetic resonance imaging (MRI) are the most common tools used to diagnose lung cancer
• These devices are constantly being re-innovated to add better features in the systems to derive high-grade output performance
• The cost of an MRI scan in the USA can cost between USD 300 to USD 2800

Recent Developments:

• In May 2022, NuvoAir, a digital health company, announced the launch of a virtual Asthma Assessment Service in collaboration with 17 National Health Services in the UK. The collaboration will help in reducing diagnosis time for Asthma while also contributing to improved clinical capacity and the quality of remote patient management and monitoring
• In July 2020, Novartis, a multinational pharmaceutical company announced its collaboration with Propeller Health, a precision digital health company. The companies will jointly move toward integrating digital health tools for the treatment of asthma. The platform called Enerzair Breezhaler is used to treat uncontrolled asthma

Report Scope

Regional Analysis

• North America to lead with the highest growth

The global respiratory diagnostics market is projected to witness the highest growth in North America owing to the presence of an excellent medical diagnostic infrastructure in the countries of the US and Canada. The established health architecture of these countries allows them to cater to the medicinal needs of a higher number of patients who are, in most cases, medically insured. Furthermore, the growing US Food and Drugs Administration (FDA) approval for new and advanced respiratory diagnostic tools along with the rising number of digital health providers could also contribute to the regional growth.

Moreover, the US healthcare sector is witnessing high adoption of remote patient care trends which enables doctors to treat a larger number of patients. The regional sector is one of the most advanced in terms of the adoption of software and services for patient treatment resulting in an improved patient experience. Growth in African countries could be driven by the surging initiatives of international healthcare units along with private pharmaceutical and healthcare companies.

Competitive Analysis

• COSMED srl 
• Medtronic 
• Koninklijke Philips N.V. 
• GENERAL ELECTRIC COMPANY 
• NIHON KOHDEN CORPORATION 
• F. Hoffmann-La Roche Ltd 
• Masimo 
• GC Diagnostics Corporation 
• Bio-Rad Laboratories Inc. 
• Drägerwerk AG & Co. KGaA 
• Carestream Health 
• bioMérieux SA 
• Johnson & Johnson Services Inc. 
• Abbott 
• Novartis AG 
• Thermo Fisher Scientific Inc. 
• Bayer AG 
• GlaxoSmithKline plc 
• BD 
• Wartsila 
• Spear Power Systems 
• Akashi AG 
• Saft Total 
• Corvus Energy 
• EnerSys 
• Leclanche SA 
• Siemens 
• Echandia AB. 

The global market is segmented as follows:

By Disease Segment Analysis

• Bronchitis
• Lung Cancer
• Pulmonary Fibrosis
• Tuberculosis
• Asthma
• Others

By Test Type Segment Analysis

• OSA Diagnostic Tests
• Mechanical Tests
• Traditional Diagnostic Tests
• Molecular Diagnostic Tests
• Imaging Tests

By Products and Services Segment Analysis

• Instruments & Devices
• Assays & Reagents
• Service & Software

By End-User Segment Analysis

• Direct Tender
• Retail Sales
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America