A recent report published by Infinium Global Research on the respiratory disease testing market provides an in-depth analysis of segments and sub-segments in the global as well as regional respiratory disease testing market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional respiratory disease testing market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global respiratory disease testing market. According to the report, the global respiratory disease testing market is projected to grow at a CAGR of 3.2% over the forecast period of 2019-2025.
The growing number of people suffering from chronic diseases like chronic obstructive pulmonary disease (COPD), cystic fibrosis, pneumonia, and asthma are the major factors for the growth of the respiratory disease testing market. According to the Global Burden of Disease Study, nearly 251 people were suffering from COPD and related diseases in 2016. As said by the World Health Organization, COPD will become the third leading cause of death worldwide by 2030. Besides, about 8.7 million people are suffering from TB across the globe and 50 million fight with occupational lung diseases annually. Furthermore, the growing elderly population, susceptible to respiratory problems also boosts the demand for the respiratory disease testing market across the globe. However, increasing costs for testing devices may hamper the growth of the respiratory disease testing market. Moreover, the adoption of imaging technologies, such as Computed Tomography in COPD diagnosis creates an opportunity for the growth of the respiratory disease testing market across the globe.
In terms of region, the global respiratory disease testing market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. Among all regions, North America is likely to dominate the market during the forecast period. This is primarily due to the growing incidences of respiratory diseases such as COPD, asthma, and other respiratory infections. Furthermore, the growing popularity of portable devices such as advanced spirometers and noninvasive ventilators also boosts the growth of the market in the North American region. The Asia-Pacific is estimated to grow at a beneficial rate over the forecast period. This is attributed to improving health care infrastructure and growing patient awareness regarding the availability of diagnostic procedures. The increasing occurrence of respiratory diseases, booming medical tourism industry and growing investments by market players in the region are some other factors anticipated boosting the market growth in the Asia-Pacific region.
The report on the global respiratory disease testing market covers segments such as product and end-user. On the basis of product, the sub-markets include imaging tests, respiratory measurement, blood gas test and other products. On the basis of end-user, the sub-markets include hospitals, clinical laboratories, and other home care facilities.
The report provides profiles of the companies in the market such as Becton, Dickinson and Company, CareFusion Corporation, Koninklijke Philips N.V, GE Healthcare, ResMed, Fisher & Paykel Healthcare Limited, Medtronic, MGC Diagnostics Corporation, and CARESTREAM MEDICAL.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the respiratory disease testing market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.