North America to Dominate Respiratory Disease Testing Market through 2025
Increasing prevalence of
respiratory diseases and technological advancements to drive the growth of
global respiratory disease testing market
According
to TechSci Research report, “Global
Respiratory
Disease Testing Market By Product and Service
(Instruments & Devices, Assays & Reagents, Services & Software), By
Test Type (Mechanical Tests, OSA Diagnostic Tests, Other Test Types, Imaging Tests,
Others), By Disease (Tuberculosis, Asthma, Lung Cancer, Chronic Obstructive
Pulmonary Disease, Other), By Purpose (Minute Ventilation, Peak Inspiratory
flow, Others), By End User (Hospital/Clinical Laboratories, Reference
Laboratories, Physician Offices, Other), By Region, Forecast &
Opportunities, 2025”, global respiratory disease testing market is
expected to witness significant CAGR during the forecast period. Growing
geriatric population is one
of the major factors accounting for the growth of global
respiratory disease testing market. Moreover, technological advancements in
respiratory diagnostic systems is expected to bode well for the growth of
global respiratory disease testing market through the forecast period. In
addition to this, increasing requirement for CT imaging, is anticipated to positively
influence the growth of global respiratory disease testing market in the years
to come. Also, rising awareness about the diagnostic procedures are making
headway for the growth of global respiratory disease testing market. Along with
this, increasing number of smokers and consumption of alcohol, is anticipated
to contribute to the market growth during the next five years. However, there
are some factors that can act as major impediments to the growth of global respiratory
disease testing market through 2025 such as rising healthcare costs and
reimbursement concerns.
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Global
respiratory disease testing market can be segmented based on product and
service, test type, disease, purpose, end user, company, and region.
Considering the disease, the market is fragmented into tuberculosis, asthma,
lung cancer, chronic obstructive pulmonary disease, other. The tuberculosis segment
dominated the global respiratory disease testing market in terms of largest
market share until 2019 and is further anticipated to maintain its dominance
during the forecast period as well, which can be accredited to the increase in
tobacco smoking across the globe. Moreover, growing air pollution levels in the
atmosphere are anticipated to boost the growth of segment. In terms of end user,
the market is fragmented into hospital/clinical laboratories, reference
laboratories, physician offices and others. Out of these, the hospital/clinical
laboratories segment is expected to grow at a high pace during the forecast
period on account of fact that most of the respiratory disease diagnostics are
carried out in hospitals as they are complex in nature and require
technologically advanced products. This is a key factor augmenting the demand
for respiratory disease testing market, globally.
Philips Healthcare, Becton, Dickinson
& Company, Abbott Laboratories, Thermo Fisher Scientific Inc., Biomérieux,
Alere Inc., Bio-Rad Laboratories, Inc., Cosmed, Seegene Inc, Sdi Diagnostics,
Bosch Healthcare Solutions, ADI Instruments, Qiagen, Siemens Healthcare,
Co-Diagnostics, Inc., are among others are the leading players operating in
global respiratory disease testing market. The players are adopting several
growth strategies to enhance the market scenario of respiratory disease testing.
Other competitive strategies include product launches; mergers &
acquisitions; agreements, partnerships, and collaborations; and expansions to
diverse their product portfolio in order to strengthen their market position.
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“North America is forecast to dominate the global respiratory disease
testing market during the next five years on account of presence of an advanced
healthcare system in the region. Furthermore, growing investments in healthcare
are also contributing to the growing trend. Additionally, growing patient
awareness about the availability of new diagnostic techniques for respiratory
diseases is further anticipated to boost the market growth in region over the
coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm.
“Global Respiratory Disease Testing Market By Product
and Service (Instruments & Devices, Assays & Reagents, Services &
Software), By Test Type (Mechanical Tests, OSA Diagnostic Tests, Other Test
Types, Imaging Tests, Others), By Disease (Tuberculosis, Asthma, Lung Cancer,
Chronic Obstructive Pulmonary Disease, Other), By Purpose (Minute Ventilation,
Peak Inspiratory flow, Others), By End User (Hospital/Clinical Laboratories,
Reference Laboratories, Physician Offices, Other), By Region, Forecast &
Opportunities, 2025” 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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