by Respiratory disease testing products such as diagnostic devices, imaging tests and biomarkers helps in the detection of respiratory infections and diseases such as pneumonia, asthma, bronchitis, tuberculosis and lung cancer. These technologies aids physicians in accurately diagnosing the condition, determine appropriate treatment and monitor the response.
The global Respiratory Disease Testing Market is estimated to be valued at US$ 3,232 Mn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trend fueling the growth of respiratory disease testing market is the increasing adoption of portable spirometers and pulse oximeters for home based monitoring of respiratory conditions. Portable spirometers enables monitoring of lung function accurately at home or outside clinical setting. Similarly, portable pulse oximeters allows monitoring of oxygen saturation levels at home, which is beneficial for patients suffering from chronic obstructive pulmonary disease (COPD) and asthma. Additionally, technologically advanced imaging modalities such as high resolution CT scans and MRI are gaining wider acceptance in the detection of interstitial lung diseases and lung cancers.
Segment Analysis
The global respiratory disease testing market is segmented into tests and end users. Based on test types, the market is classified into mechanical tests, imaging tests, traditional diagnostic tests, molecular diagnostic tests, and other tests. Among these, the molecular diagnostic tests segment dominates the market and is expected to continue its dominance over the forecast period. This is owing to factors such as rising preference for precision medicine, growing adoption of polymerase chain reaction (PCR) tests for detection of respiratory infections and genetic respiratory disorders, and technological advancements in molecular diagnostics.
Key Takeaways
The global Respiratory Disease Testing Market Share is expected to witness high growth, exhibiting CAGR of 4.0% over the forecast period, due to increasing prevalence of respiratory diseases associated with increasing pollution levels and smoking habits.
Regional analysis
North America dominates the global respiratory disease testing market, owing to the high prevalence of respiratory diseases, availability of advanced healthcare infrastructure, and presence of major market players in the region. It is estimated to continue its dominance over the forecast period. Asia Pacific is expected to exhibit the fastest growth during the forecast period owing to growing geriatric population, improving healthcare infrastructure, and increasing awareness about respiratory diseases.
Market size
The global Respiratory Disease Testing Market Share is expected to witness high growth, exhibiting CAGR of 4.0% over the forecast period, due to increasing prevalence of respiratory diseases associated with increasing pollution levels and smoking habits. The global respiratory disease testing market size was valued at US$ 3,232 Mn in 2023.
Key players
Key players operating in the respiratory disease testing market are CareFusion Corporation, Carestream Health, Inc., COSMED, Futuremed America, Inc., GE Healthcare, MGC Diagnostics Corporation, ndd Medical Technologies, Inc., Nihon Kohden Corporation, Perkin Elmer, Inc., FUJIFILM Healthcare Corporation, Philips Healthcare,Roche Healthcare, Beckton Dickinson and Company, Koninklijke Philips N.V. , ResMed Inc., Medtronic, Abbott Diagnostics, and Quest Diagnostics.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
