Respiratory Disease Diagnostics Market (Product - Instruments and Devices, Assays and Reagents, and Services; Disease - Chronic Obstructive Pulmonary Disease, Asthma, Tuberculosis, and Other Diseases; End User - Hospitals, Clinics, Reference Laboratories, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

A recent report published by Infinium Global Research on respiratory disease diagnostics market provides in-depth analysis of segments and sub-segments in the global as well as regional respiratory disease diagnostics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional respiratory disease diagnostics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global respiratory disease diagnostics market. According to the report, the global respiratory disease diagnostics market is projected to grow at a CAGR of 7.8% over the forecast period of 2020-2026.

Market Insight

The healthcare professionals conduct several diagnostic tests when a patient has difficulty in breathing. Some tests measure the amount of air inhaled and exhaled by the patient or the amount of oxygen passing from the lungs to the rest of your body. While others detect infection or another problem that is causing patients trouble in breathing well. The players in the respiratory disease diagnostics market offer either diagnostic products such as medical devices, accessories, test reagents, or services or all of them. The market majorly serves healthcare facilities such as hospitals, clinics, diagnostic laboratories, and others. Moreover, the respiratory disease diagnostics market is witnessing several changes as the technology develops and innovative products emerge in the market.

The novel coronavirus virus has infected more than 69 million people around the world, causing 1.57 million deaths as of December 2020. The surge in the number of cases has exerted pressure on the healthcare, pharmaceutical and life science industries. The organizations in these industries are witnessing overwhelming demand for consumers. Other related industries such as medical devices, laboratory instruments and consumables have also registered higher demand for their products. On the other hand, the spread of COVID-19 has disrupted the global supply chain, hampering the growth of industries and global economics.

The growth of the market is attributed to rising in the prevalence of respiratory diseases. According to the World Health Organization, about 235 million people around the world suffer from asthma, while more than 3 million people die every year due to chronic obstructive pulmonary disease. Respiratory diagnostics solutions are widely used to diagnose such health issues at their early stages. Moreover, the growing tobacco consumption, air pollution, occupational chemicals and dust, and frequent lower respiratory infections during childhood are some factors contributing to the rise in the prevalence of respiratory disorders. These factors together also lead to the growing sale of respiratory disease diagnostics solutions. In addition, a growing geriatric population that is more susceptible to respiratory diseases is anticipated to boost the market growth. On the other hand, a lack of skilled professionals in low- and middle-income countries hampers the growth of the market. Nevertheless, transforming healthcare infrastructure in emerging markets with the rising number of healthcare facilities as well as growing advancements in the respiratory diagnostics systems will provide ample opportunities for the players operating in the market.

Geographically, the respiratory disease diagnostics market is segmented into North America, Europe, Asia-Pacific, and Row. North America dominates the market and anticipated to hold the highest share of the market in the forecast period, followed by Europe. The presence of reimbursement policies, rising prevalence of chronic respiratory diseases is the factors supporting the growth of the market in these regions. The market in Asia-Pacific is expected to grow at a high rate in the forecast period. The presence of large patient pools with respiratory diseases and the growing demand for respiratory diagnostics are some of the factors contributing to the growth of the market.

Segment Covered

The report on global respiratory disease diagnostics market covers segments such as product, disease, and end user. On the basis of product, the sub-markets include instruments and devices, assays and reagents, and services. On the basis of disease, the sub-markets include chronic obstructive pulmonary disease, asthma, tuberculosis, and other diseases. On the basis of end user, the sub-markets include hospitals, clinics, reference laboratories, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Becton, Dickinson and Company, Koninklijke Philips N.V., Medtronic, PLC, MGC Diagnostics Corporation, Abbott Laboratories, Thermo Fisher Scientific Inc., CAREstream Medical Ltd, ResMed Company, bioMérieux SA, and COSMED S.r.l..

Report Highlights:

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 respiratory disease diagnostics market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. 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.