Press Release

Respiratory Disease Testing Market to Grow with a CAGR of 5.72% through 2028

Growing burden of respiratory diseases and increasing geriatric population is expected to drive the Global Respiratory Disease Testing Market growth in the forecast period, 2024-2028.

According to TechSci Research report, Respiratory Disease Testing Market - Industry Size, Share, Trends, Opportunity, and Forecast, 2018–2028F, the Global Respiratory Disease Testing Market stood at USD 6.01 Billion in 2022 and is anticipated to grow with a CAGR of 5.72% in the forecast period, 2024-2028. The growth in the market can be attributed to the increasing prevalence of respiratory diseases, rising demand for point-of-care testing, and technological advancements in respiratory disease testing devices. The increasing prevalence of respiratory diseases is a significant driver of market growth. Factors such as the rising number of smokers, alcohol consumption, sedentary lifestyles, and stressful routines have led to an increase in cases of COPD and other severe respiratory conditions like lung cancer. Moreover, technological advancements in respiratory diagnostic testing, including the utilization of Internet of Things (IoT) and Artificial Intelligence (AI) for COPD diagnosis and outpatient management, have positively impacted market growth. Additionally, there is a growing demand for respiratory diagnostic devices in privately-owned hospitals and healthcare centers, and both government and non-governmental organizations (NGOs) are making efforts to ensure access to quality healthcare facilities. The market is further propelled by enhanced research and development (R&D), a rising geriatric population, rapid urbanization, increasing industrial establishments, and escalating pollution levels worldwide.

The market for respiratory disease testing is further boosted by the rising pollution in the environment. Lungs are increasingly affected by various detrimental habits adopted by people worldwide, such as smoking and excessive alcohol consumption. In the US, cigarette smoking is a major risk factor for lung diseases, contributing to 80-90% of deaths. Similarly, low and middle-income countries experience 90% of deaths related to chronic obstructive pulmonary disease (COPD). For instance, in September 2022, lung cancer was reported as the leading cause of cancer deaths worldwide, with an anticipated 2.2 million new cases and 1.8 million fatalities year on year, according to data from the NCD Alliance, a Switzerland-based civil society organization. Additionally, chronic respiratory disorders impacted 550 million adults globally, resulting in 4.2 million deaths, or 7% of total deaths.

Therefore, the rising prevalence of respiratory diseases will continue to drive the respiratory disease testing market. Technological advancements represent a key trend gaining popularity in the respiratory disease testing market. Major companies in this field are focused on developing artificial intelligence and machine learning technologies to optimize treatment protocols and improve patient outcomes, thereby strengthening their market position. For example, in March 2022, Respira Labs, a US-based healthcare technology company, introduced Sylvee, an AI-powered wearable device designed to monitor lung function. This chest strap device utilizes AI and machine learning algorithms to analyze data from multiple sensors, measuring breathing rate, volume, and patterns.

It aids in the early diagnosis and management of chronic obstructive pulmonary disease (COPD), asthma, and COVID-19, providing real-time feedback on lung function through advanced AI algorithms analyzing breath sounds. In January 2023, CAIRE Inc., a US-based medical supply and manufacturing company, acquired MGC Diagnostics Holdings to expand its product line and diversify its income sources by incorporating cardiorespiratory diagnostic products into its portfolio. This strategic move aims to solidify CAIRE Inc.'s position as a market leader in medical technology for respiratory and cardiorespiratory diagnostics. MGC Diagnostics Holdings Inc., a US-based medical technology company, specializes in providing cardiorespiratory diagnostic solutions and respiratory disease testing products. Furthermore, the growing investment in technological advancements and the emergence of new-generation in-vitro diagnostic tests contribute to the increasing demand in the global respiratory disease testing market during the forecast period of 2023-2029. Additionally, the digital market has raised awareness among individuals, fueling the market growth, although the high cost of diagnostic tests may pose a challenge for middle-class families with limited purchasing power.

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The Global Respiratory Disease Testing Market is segmented into test type, application, end user, regional distribution, and company.

Based on end user, the hospitals segment accounted for the largest share of the global respiratory disease testing market in 2022. This can be attributed to the surge in emergency room visits and the increasing prevalence of chronic respiratory infections. The rapid advancement in respiratory diagnostic devices such as X-rays, CT scans, and other respiratory measurement equipment has significantly contributed to the growth of the hospital segment. According to the American Hospital Association (AHA) Annual Survey 2018, there were a total of 6,146 hospitals in the United States. The escalating number of hospital admissions, adoption of cutting-edge respiratory testing equipment, and the establishment of public-private partnerships to enhance healthcare accessibility are key factors propelling the growth of this segment.

Based on region, North America segment is expected to grow during the forecast period. North America is a significant contributor to the studied market due to the rising cases of COPD, asthma, and other respiratory tract infections (RTI), along with an increasing elderly population susceptible to respiratory diseases. Among the countries in the region, the United States holds the largest share. According to the updated data from the American Lung Association in August 2022, COPD is a leading cause of disability in the United States, affecting over 12.5 million people in 2021. Consequently, COPD leads to severe long-term disability and premature death in the country, highlighting the need for accessible testing and diagnostics, thereby driving market growth. Furthermore, data provided by Statistics Canada in September 2021 on health characteristics and annual estimates for asthma indicate an increase in 2020 compared to previous years. The number of individuals affected by asthma rose to 2,802,700 in 2020. This growing burden of asthma in the country is expected to heighten the demand for early disease diagnosis, driving market growth in Canada and fueling overall market expansion in the region.

Major companies operating in Global Respiratory Disease Testing Market are:

  • Beckton Dickinson and Company
  • Koninklijke Philips N.V.
  • ResMed Inc.
  • Medtronic PLC
  • Carestream Health
  • MG Diagnostic Corporation
  • Abbott Laboratories
  • ThermoFisher Scientific
  • Biomerieux
  • QIAGEN

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“The global market for respiratory disease testing has witnessed significant growth in recent years, propelled by several factors. One of the primary drivers is the escalating prevalence of respiratory diseases like asthma, chronic obstructive pulmonary disease (COPD), and lung cancer. These conditions are increasingly prevalent due to factors such as pollution, smoking, and aging populations. Consequently, there is a mounting demand for accurate and efficient testing methodologies for the diagnosis and monitoring of respiratory diseases. Technological advancements have also played a pivotal role in the expansion of the respiratory disease testing market. Innovations in diagnostic techniques, including molecular diagnostics, immunoassays, and imaging technologies, have enhanced the accuracy and efficiency of respiratory disease testing. These advancements have facilitated early detection and personalized treatment, resulting in improved patient outcomes.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Respiratory Disease Testing Market Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Test Type (Imaging Tests, Mechanical Tests, and In-vitro Diagnostic Tests), By Application (COPD, Lung Cancer, Asthma, Tuberculosis), By End User (Hospitals, Diagnostic Centers, and Others), By Region and Competition”, has evaluated the future growth potential of Global Respiratory Disease Testing Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Respiratory Disease Testing Market.

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