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Respiratory Disease Testing Market Analysis (2020-2027)

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Respiratory Disease Testing Market Analysis (2020-2027)

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. RESPIRATORY DISEASE TESTING MARKET ANALYSIS(2020-2027) • Respiratory Disease Testing Market, By Test Type (Imaging Test, Spirometry, Peak Flow Test, Blood Gas Test, Lung Volume Test, Others), By End User (Hospitals, Physician Offices, Clinical Laboratories), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

  3. Respiratory disease is a medical condition that affects the structure and organs associated with respiration or breathing. Based on anatomical features, the respiratory system has been segmented into upper respiratory tract and lower respiratory tract. The upper respiratory tract comprises pharynx, larynx and nasal passages, while the lower respiratory tract includes trachea, lungs and bronchi.

  4. Statistics: • The global respiratory disease testing market is estimated to account for US$ 3,738.8 Mn in terms of value by the end of 2027.

  5. Global Respiratory Disease Testing Market: Drivers • Increasing prevalence of respiratory diseases is expected to propel growth of the global respiratory disease testing market over the forecast period. For instance, according to a report by Global Initiative For Chronic Obstruction Disease’s 2018 report, COPD is expected to result in 4.5 million global deaths annually by 2030. • Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015.

  6. Statistics: • North America held dominant position in the global respiratory disease testing market in 2019, accounting for 34.6% share in terms of value, followed by Asia Pacific and Europe, respectively.

  7. Figure 1: Global Respiratory Disease Testing Market Share (%) Value, By Region, 2019

  8. Global Respiratory Disease Testing Market: Restraints • Low adoption rate of digital radiography is expected to hinder the market growth. Digital radiography systems have witnessed low adoption rate as these are more expensive than analog radiography systems (US$ 11,000 – US$ 22,000). The cost of digital radiography equipment ranges from US$ 100,000 to US$ 130, 000. • Moreover, inaccuracy of rapid diagnostic tests is also expected to hinder growth of the market. For instance, in May 2020, a study by researchers at New York University found that a COVID-19 rapid diagnostic made by Abbott Laboratories failed to detect up to 48% of positive results.

  9. Global Respiratory Disease Testing Market: Opportunities   • Increasing prevalence of lung cancer is expected to offer lucrative growth opportunities for players in the global respiratory disease testing market. For instance, according to The American Cancer Society, in 2020, the U.S. is expected to witness around 228,820 new cases of lung cancer and around 135,720 deaths due to the disease. • Moreover, increasing number of smokers is also expected to aid in growth of the market. For instance, according to the World Health Organization, 1.337 billion people smoked tobacco worldwide in 2018.  

  10. Statistics: • The global respiratory disease testing market was valued at US$ 2,831.0 Mn in 2019 and is forecast to reach a value of US$ 3,738.8 Mn by 2027 at a CAGR of 3.5% between 2020 and 2027.

  11. Figure 2: Global Respiratory Disease Testing Market Value (US$ Mn), 2016 – 2027

  12. Market Trends/Key Takeaways • Increasing air pollution is boosting growth of the market. For instance, according to Health Effects Institute estimates (provided by University of Texas at Austin), air pollution was the fifth leading risk factor for mortality worldwide in 2019. • Major players in the market are focused on launching new products to expand their product portfolio. For instance, in March 2020, Quest Diagnostics announced to launch a coronavirus (COVID-19) test service that aids the presumptive detection of nucleic acid in respiratory specimens of patients meeting the Centers for Disease Control and Prevention’s clinical criteria for COVID-19 testing.

  13. Regulations • Occupational Safety and Health Administration (OSHA), the U.S. Department of Labor, stated in 2013 that healthcare professionals conducting occupational spirometry testing should complete initial lung function testing course approved by National Institute for Occupational Safety and Health (NIOSH). It also recommended that a lung function testing equipment should have the following features: meet accuracy and precision criteria set by American Thoracic Society/European Respiratory Society and instrument should have real time graphical display.

  14. Global Respiratory Disease Testing Market: Competitive Landscape • Major players operating in the global respiratory disease testing market include, CareFusion Corporation, Carestream Health, Inc., COSMED, Futuremed America, Inc., GE Healthcare, MGC Diagnostics Corporation, ndd Medical Technologies, Inc., Nihon Kohden Corporation, Perkin Elmer, Inc., Philips Healthcare, and Quest Diagnostics.

  15. Global Respiratory Disease Testing Market: Key Developments • Major players in the market are focused on launching new products to expand their product portfolio. For instance, in June 2020, Carestream Health, Inc. launched Carestream NDT INDUSTREX Digital Viewing Software Version 5.2, a non-destructive testing (NDT) technology.

  16. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Buy Now Reference: https://www.coherentmarketinsights.com/market-insight/respiratory-disease-testing-market-4030

  17. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  18. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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