As per the recently published report by MarketsandMarket™, The report "Respiratory Diagnostics Market by Product & Services (Devices, Reagents, Software), Test (PFT, Peak Flow, Spirometry), OSA, Imaging (X-ray, CT, MRI, PET), Molecular (PCR, DNA Sequencing), Indication (Lung Cancer, Asthma, COPD, TB) - Global Forecast to 2029", is expected to reach USD 8.2 billion by 2029 from USD 5.6 billion in 2023, at a CAGR of 6.6%, during the forecast period.
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- 83
Market Data Tables
- 45
Figures
- 146
Pages and in-depth TOC on "Respiratory Diagnostics
Market - Global Forecast to 2029”
Some of the prominent key players are:
- Koninklijke
Philips N.V. (Netherlands),
- BD
(US),
- Abbott
(US),
- Thermo
Fisher Scientific Inc. (US),
- GE
HealthCare (US),
- Bio-Rad
Laboratories, Inc. (US), and many more......
Mergers
& acquisitions, investments & expansions, partnerships &
collaborations, and new product developments are some of the major strategies
adopted by these key players to enhance their positions in the Respiratory
Diagnostics Market.
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- The
growing trend towards point-of-care testing (POCT) represents a paradigm
shift in healthcare, significantly contributing to the growth of the
instruments and devices segment. Portable respiratory diagnostic
instruments, such as handheld spirometers, peak flow meters, and portable
imaging devices, enable real-time assessment of lung function and
conditions.
- The
escalating prevalence of respiratory disorders, particularly chronic
obstructive pulmonary disease (COPD) and asthma, underscores the critical
role of mechanical tests in assessing lung function. Mechanical tests,
such as spirometry and peak flow tests, play a fundamental role in
evaluating lung function by measuring parameters like airflow, lung
volume, and capacity.
- Personalized
asthma care is increasingly reliant on sophisticated diagnostic tools that
consider individual patient profiles. Advanced diagnostics, such as
molecular testing and biomarker analysis, enable healthcare professionals
to delve into the specific genetic and molecular factors contributing to a
patient's asthma.
- Hospitals
and clinics are increasingly integrating respiratory diagnostics into
routine care protocols. The seamless integration of respiratory
diagnostics within hospitals and clinics ensures that diagnostic services
are readily accessible to a broad spectrum of patients seeking routine or
specialized care.
- In
2022, North America held the largest market share for respiratory
diagnostics market. The growing awareness of the significance of early
detection and effective management of respiratory diseases has emerged as
a significant factor propelling the utilization of respiratory diagnostics
products and services in North America.
Growth in this market is largely driven by the
growth in the large patient population suffering from pulmonary diseases,
increase in pre-term deliveries, rise in adults being exposed to poor air
quality index environment, increased smoking of tobacco, increased cases of
passive smoking due to exposure to harmful smoke inhalations, rise in dust and
allergies associated with it leading to asthma and COPD, rising R&D
expenditure by leaders in this market, increased trend of smoking in women more
than men, and massive rise in underlying lung diseases, and continuous exposre
to indoor or outdoor dust, making it prone to infections, leading the market
growth.
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