As per the recently published report by MarketsandMarkets™, 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".
The report Respiratory
Diagnostics Market 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.
- 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.
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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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