Respiratory disease testing involves procedures and tests that help determine the presence and type of respiratory disease. Common tests include chest X-rays, pulmonary function tests, sinus X-rays, allergy tests, and sputum tests. These tests help diagnose conditions like asthma, chronic obstructive pulmonary disease (COPD), lung cancer, pneumonia, and tuberculosis. Advancements in diagnostic tools have made respiratory disease testing more accurate and non-invasive. Point-of-care testing devices allow for quick testing and results.
The global Respiratory Disease Testing Market is estimated to be valued at US$ 3,232 Mn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report paublished by Coherent Market Insights.
Market key trends:
One of the key trends in the respiratory disease testing market is the introduction of biosensors and microfluidic devices. These devices allow for miniaturization of testing equipment, improved portability, and rapid testing and detection of respiratory diseases. Another trend is the increasing diagnosis of respiratory diseases through biomarker detection using techniques like immunoassays and PCR. Biomarkers help detect diseases at an early stage. Growing awareness about benefits of early diagnosis and availability of home use diagnostic devices are also expected to drive the market during the forecast period.
Porter’s Analysis
Threat of new entrants: The respiratory disease testing market requires huge capital investments for R&D and manufacturing facilities which acts as a barrier for new entrants. Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of alternative products and point of care respiratory disease testing kits. Bargaining power of suppliers: Key raw material suppliers have low to moderate power due to availability of substitute materials and commoditization of raw materials. Threat of new substitutes: Development of novel respiratory disease testing technologies poses a moderate threat of substitution. Competitive rivalry: The market is highly competitive with presence of global as well as local players.
Key Takeaways
The global Respiratory Disease Testing Market Share is expected to witness high growth, exhibiting CAGR of 4.0% over the forecast period, due to increasing prevalence of respiratory diseases. The market size for 2023 is US$ 3,232 Mn.
Regional analysis: North America dominates the respiratory disease testing market due to escalating demand for point of care testing devices and favorable reimbursement policies in the region. Asia Pacific is anticipated to exhibit lucrative growth owing to rising healthcare expenditure and increasing pollution levels in the region.
Key players operating in the respiratory disease testing market are CareFusion Corporation, Carestream Health, Inc., COSMED, Futuremed America, Inc., GE Healthcare, MGC Diagnostics Corporation, ndd Medical Technologies, Inc., Nihon Kohden Corporation, Perkin Elmer, Inc., FUJIFILM Healthcare Corporation, Philips Healthcare,Roche Healthcare, Beckton Dickinson and Company, Koninklijke Philips N.V. , ResMed Inc., Medtronic, Abbott Diagnostics, and Quest Diagnostics.
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https://www.insightprobing.com/respiratory-disease-testing-market-growth-demand-and-overview/
The global respiratory disease testing market is extensively competitive and fragmented in nature because of large pool of players being present in the market, says an upcoming Transparency Market Research (TMR) report.
The prominent players in the global respiratory disease testing market include Philips Healthcare, GE Healthcare, Cosmed, CareFusion Corporation, and Nihon Kohden Corporation.Request Brochure –https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=1288Rising number of asthma cases among all age groups is projected to surge the demand for the global respiratory disease testing market during the forecast period.
It is likely to reach the estimated value of US$ 3.1mn by the end of 2022.In terms of geography, North America held the largest share in the global respiratory disease testing market.
The global respiratory disease testing market is segmented into hospitals, physician’s offices, and clinical laboratories.
Request COVID Analysis on Respiratory Disease Testing Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19_id=1288Rising Chronic Obstructive Pulmonary Disorder to Strengthen Market The rising number of diseases such as COPD (Chronic Obstructive Pulmonary Disorder) is projected to create a huge demand for respiratory disease testing.
Therefore, the large attention and demand for respiratory testing is projected to boost the growth of the global respiratory disease testing market in the upcoming years.This review is based on the findings of a TMR report titled, “Respiratory Disease Testing Market (By Tests - Imaging, Spirometry, Peak Flow, Blood Gas, Lung Volume, and Other Tests); (By End-User - Hospitals, Physician Offices and Clinical Laboratories)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022.” Buy Respiratory Disease Testing Market Report –https://www.transparencymarketresearch.com/checkout.php?rep_id=1288=SThe global respiratory disease testing market is segmented into TestsImagingSpirometryPeak FlowBlood GasLung Volume End UserHospitalPhysician OfficesClinical LaboratoriesGeographyNorth AmericaS.Canada EuropeGermanyK.FranceItalySpainRussiaRest of the Europe Asia PacificChinaJapanIndiaAustralia & New ZealandRest of Asia Pacific Latin America (LATAM)BrazilMexicoRest of LATAM Middle East & AfricaSouth AfricaRest of MEAGCC Countries About UsTransparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to industry leaders, consultants, and strategy professionals.Our reports are single-point solutions for industries to grow, evolve, and mature.
