Pune, India, Aug. 26, 2020 (GLOBE NEWSWIRE) -- The global respiratory disease testing market is valued at USD 11 Billion in 2020 and is anticipated to grow with a CAGR of 9.0% during the forecast period from 2020 to 2028. The increasing implementation of imaging modalities in various geographical locations to detect COVID-19 will further boost the demand for this testing.
Rising levels of hazardous gases and pollutants will lead to various lung disorders such as respiratory diseases including bronchitis, asthma, COPD, and Emphysema, among others. Further, a growing population base in developed and underdeveloped countries and the rising inclination towards a sedentary lifestyle may contribute to the market growth. COVID-19 outbreak has affected patients with severe respiratory distress, thereby increasing the demand for respiratory disease testing market.
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The adoption of imaging technologies, such as Computed Tomography (CT) in COPD diagnosis, is expected to drive market growth. The use of technically advanced devices, such as pulse oximeters for the effective management of COPD in outpatients is rapidly gaining recognition in the market. Also, a shift to noninvasive mechanical ventilation for COPD is expected to fuel the market growth.
Global Respiratory Disease Testing Market, by Test Type
In terms of test type, the market is segmented into mechanical tests, imaging tests, and in-vitro diagnostic test. Mechanical tests are further divided into spirometry, peak-flow test, pulmonary function test, and blood gas test. Imaging tests are further divided into X-ray, CT-scan, ultrasonography, and MRI. Based on in vitro diagnostic tests, the market is further segmented into point-of-care test and molecular diagnostic tests. Mechanical tests are expected to be the dominating segment in the global respiratory disease testing market in 2020. This is due to the current pandemic, coupled with changing lifestyle which is leading to varied disorders. For instance, around 25 million individuals suffer from asthma in Americas alone according to the Asthma and Allergy Foundation of America (AAFA).
Global Respiratory Disease Testing Market, by Application
In terms of application, the market is segmented into chronic obstructive pulmonary disease, lung cancer, asthma, tuberculosis, and others. COPD is expected to be the largest segment in terms of market share by 2028. This is owing to the increasing cases of COPD cases globally due to increased cigarette smoking and inhalation of harmful chemicals while working at various factories and industries. Also, the increasing R&D investment for developing cost-efficient treatment options will further propel the growth of the market.
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Global Respiratory Disease Testing Market, by End-use
In terms of end-use, the global respiratory disease testing market is segmented into diagnostic centers, hospitals, and clinics. Hospitals held a significant market share in 2020 due to the increasing number of hospitalizations for respiratory diseases. Also, hospitals have well-equipped healthcare infrastructure and thus, the response to an ill patient is faster in hospitals as compared to other healthcare settings. Therefore, individuals prefer visiting hospitals rather that going to other healthcare settings, thereby generating more revenues for the hospitals.
Global Respiratory Disease Testing Market, by Region:
In terms of region, North America has captured the largest market for global respiratory disease testing in 2020 and is anticipated to be dominant till the forecast period. The major contributing factors are growing respiratory ailments, availability of cost-efficient treatment options, and increasing awareness in developed and underdeveloped countries.
Some Major Findings of the Respiratory Disease Testing Market Report Include:
- Global respiratory disease testing market trend & forecasts analysis along with a country-specific market analysis for up to 25 countries
- In-depth global respiratory disease testing market analysis by test type, application, end-use, and regions with an analysis of trend-based insights and factors
- Profiles of the major market players operating in the global respiratory disease testing market, which include Koninklijke Philips N.V., Becton Dickinson & Company, ResMed, and Fischer & Paykel, among others.
- Competitive benchmarking, product offering details, and growth strategies adopted by the leading market players, along with their major investments in the last five years.
- Key impact factor analysis across regions that includes clinical pipeline analysis, along with the drivers, restrains, opportunities, and challenges that are prevailing in the global respiratory disease testing market.
- Impact analysis of COVID-19 on the respiratory disease testing market.
Browse key industry insights spread across 119 pages with 102 market data tables and 68 figures & charts from the report, “Respiratory Disease Testing Market, By Test Type (Mechanical Tests, Imaging Tests, In-vitro Diagnostic Test), By Application (Chronic Obstructive Pulmonary Disease, Lung Cancer, Asthma, Tuberculosis and Others), By End-use (Diagnostic Centers, Hospitals, Clinics & Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) - Market Size & Forecasting (2016-2028)” in-depth analysis along with the table of contents (ToC).
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