Global Respiratory Diagnostics Market Share Is Likely To Reach At A CAGR Value Of Around 9.12% By 2030

21-Feb-2023 | Facts and Factors

According to 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.

Global Respiratory Diagnostics Market

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Respiratory diseases are disorders related to the lungs or airways that affect the overall quality of human respiration. In these conditions, any part of the respiratory tract can get infected which may lead to varied symptoms along with different levels of complications. Inflammatory reactions are the way in which the human body reacts to these conditions. The degree of hypoventilation of difficulty in breathing occurs due to hyperemia along with the swelling of the mucous lining. The condition becomes chronic when it reaches the state of fibrosis.

Browse the full “Respiratory Diagnostics Market Size, Share, Growth Analysis Report By Disease (Bronchitis, Lung Cancer, Pulmonary Fibrosis, Tuberculosis, Asthma, and Others), By Test Type (OSA Diagnostic Tests, Mechanical Tests, Traditional Diagnostic Tests, Molecular Diagnostic Tests, and Imaging Tests), By Products and Services (Instrument & Devices, Assays & Reagents, and Service & Software), By End-User (Direct Tender, Retail Sales, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030" report at https://www.fnfresearch.com/respiratory-diagnostics-market

Respiratory conditions are divided into two main types, namely chronic and infectious and both of these types have become a global concern due to the rising cases of respiratory disease-induced deaths across the world. Hence it is important that governments and governing bodies undertake infrastructure development activities in support of respiratory diagnostics since if the conditions go unnoticed or remain untreated, the condition can quickly become serious and life-threatening.

The global respiratory diagnostics market is projected to grow owing to the rising population leading to more people suffering from respiratory medical conditions due to neglected environment quality. For instance, as per the World Health Organization, almost 16% of the deaths due to lung cancer are caused by the growing rate of air pollution observed worldwide. Fuel oils, vehicle emissions, by-products of power generation and manufacturing, fumes from chemical production, and other factors are causing the alarming rate at which air quality is declining every day.

Additionally, the rising number of players working on the development of new respiratory diagnostic tools while at the same time committing resources for product innovation could create more growth during the forecast period. Increasing use of technology to deliver better patient experience, integration of artificial intelligence and machine learning in healthcare diagnostics, growing adoption of the internet of things (IoT), along with an increase in remote patient care programs are factors that are positively influencing revenue generation in the global market.

However, there are certain restricting factors that do not work in the favor of the respiratory diagnostics industry. One of them is the lack of importance given to respiratory care or treatment, especially in underdeveloped countries. These regions lack access to primary healthcare due to multiple economic and political factors further causing a decline in exposure to medical care. Other factors like an inadequate supply of skilled professionals, poor penetration of technology in certain countries or regions, and the emergence of substitute treatment and diagnosis methods could also act as roadblocks during global market growth.

The growing healthcare infrastructure may provide growth opportunities whereas managing the cost of research and product innovation may challenge market expansion.

Segmental Overview

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.

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.

  • The global market registered the highest growth in the imaging tests segment followed by traditional diagnostic tests and obstructive sleep apnea (OSA)
  • A lung scan is very common and one of the primary measures undertaken by medical professionals to study the health of the lung and detect abnormalities or problems
  • Obstructive sleep apnea (OSA) tests are conducted when the patient is sleeping and equipment is hooked to the body for monitoring lung and brain activity along with the condition of the heart
  • OSA is one of the serious respiratory disorders and does not have a cure in the medical community
  • As per estimates, almost 37500 people die annually due to OSA

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

Based on end-user, the respiratory diagnostics industry is segmented into direct tender, retail sales, and others.

  • The global market is mostly dominated by the direct tender segment since most of the large hospital or treatment facilities tend to rely on certain providers of diagnostic tools due to factors like cost-effectiveness, trustworthiness, and overall expectations from the deal
  • Retail sales work best in the segment where purchases worth fewer values are conducted since buying from retailers may be more commercially beneficial
  • A Continuous positive airway pressure may cost between USD 500 to USD 800

Regional Overview

North America is anticipated to lead the global respiratory diagnostics market owing to factors like the high prevalence of respiratory disorders along with the awareness rate amongst the population about diagnostic procedures. The presence of advanced technology strengthened by the availability of skilled professions and growing measures by the government to tackle respiratory concerns in the region act as growth-propelling factors. The European countries are expected to register high CAGR due to the existing patient-friendly health infrastructure as well as the rising number of domestic players in the digital health segment. Asia-Pacific is projected to act as a leading lucrative market for future growth given the rising investment in the healthcare segment.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 8.21 Billion

Projected Market Size in 2030

USD 13.81 Billion

CAGR Growth Rate

9.12% CAGR

Base Year

2021

Forecast Years

2022-2030

Key Market Players

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., and others.

Key Segment

By Disease, Test Type, Products and Services, End-User, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

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Competitive Landscape

The global respiratory diagnostics market is led by players like 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, and Echandia AB.

Recent Developments:

  • In June 2022, AnchorDx, Chinese oncology diagnostics announced that the company’s PulmoSeek lung cancer early detection assay had received Conformité Européenne (CE) marking. This will allow the company to market its product in countries that recognize the marking
  • In January 2023, Bresotec Medical announced that itsBresoDX1 had received 510(k) clearance from the United States Food and Drug Administration. The product is an at-home testing tool for sleep apnea

The global market is segmented as follows:

By Disease

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

By Test Type

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

By Products and Services

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

By End-User

  • Direct Tender
  • Retail Sales
  • Others

By Region

  • 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

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