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Global Respiratory Diagnostics Market to Reach US$ 10.9 Billion by 2027, Bolstered by Increasing Prevalence of Respiratory Diseases

Published on Sep 26, 2022

The latest report by IMARC Group, titled “Respiratory Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global respiratory diagnostics market size reached US$ 6.9 Billion in 2021. Respiratory diagnostics refer to the clinical examination of lung functioning and related procedures. It includes several mechanical, imaging, and molecular diagnostic tests for detecting chronic obstructive pulmonary disease (COPD), lung cancer, bronchitis, asthma, and pulmonary fibrosis. It also uses procedures such as capillary blood gas (CBG), sniff nasal inspiratory pressure (SNIP), spirometry, oximetry, transcutaneous CO2 monitoring, chest X-ray, and computed tomography (CT) scan. In some samples, sleep studies are also executed to diagnose and evaluate the presence of sleep apnea and nocturnal hypoventilation. As a result, respiratory diagnostic tests are widely conducted across healthcare sectors, clinical laboratories, and physician offices.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Respiratory Diagnostics Market Trends:

The market is primarily driven by the increasing prevalence of respiratory diseases. In addition, the increasing number of smokers and consumption of alcohol, sedentary lifestyle habits and stressful routines, have resulted in rising incidences of COPD and other severe respiratory conditions, such as lung, mouth, and throat cancer. This, coupled with several technological innovations in the healthcare industry and respiratory diagnostic testing, including the utilization of artificial intelligence (AI) and the Internet of Things (IoT) for the diagnosis of COPD and outpatient management, represent another growth-inducing factor. Apart from this, the escalating demand for respiratory diagnostics devices in various privately-owned hospitals and healthcare centers is providing a positive thrust to the market growth. Additionally, numerous initiatives taken by government and non-governmental organizations (NGOs) to make quality healthcare facilities accessible to all are also propelling the market growth. Other factors including rapid urbanization, the rising geriatric population and the increasing pollution levels across the globe are impelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 10.9 Billion by 2027, exhibiting a CAGR of 7.73% during the forecast period (2022-2027).

Market Summary:

  • Based on the product and service type, the market has been classified into instruments and services, assays and reagents, and services and software.
  • On the basis of the test type, the market has been divided into mechanical tests, obstructive sleep apnoea (OSA) diagnostic tests, imaging tests, traditional diagnostic tests, molecular diagnostic tests and others.
  • Based on the disease, the market has been segmented into tuberculosis, asthma, chronic obstructive pulmonary disease (COPD), lung cancer and others.
  • On the basis of the end user, the market has been divided into hospitals, clinics, reference and clinical laboratories and others.
  • Region-wise, the market has been divided into North America, Europe, Asia Pacific, Middle East and Africa, Latin America.
  • The competitive landscape of the industry has also been examined in the report, with some of the key players being Philips Healthcare, Abbott Laboratories, Biomerieux, Becton Dickinson, Thermo Fisher Scientific Inc., Alere Inc., Seegene Inc., 3M Company, Bio-Rad Laboratories, SDI Diagnostics and COSMED Srl.
     

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