Sandy, Utah, USA, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Respiratory Diagnostic Market Size, Trends and Insights By Product and Services (Assays and reagents, instruments and devices, Services and software), By Test Type (Mechanical tests, Molecular diagnostic test, OSA diagnostic test, Traditional diagnostic tests, Imaging tests), By Disease (Lung cancer, Tuberculosis, Chronic obstructive pulmonary disorder, Bronchitis, Pulmonary fibrosis, Asthma, Other diseases), By End User (Physician offices, Hospital, Clinical laboratories, Others), By Distribution Channel (Retail sales, Direct tender, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” in its research database.
“According to the latest research study, the demand for global Respiratory Diagnostics Market size & share was valued at approximately USD 8.2 Billion in 2021 and is expected to reach USD 9.1 billion in 2022 and is expected to reach a value of around USD 13.80 Billion by 2030, at a compound annual growth rate (CAGR) of about 8.5% during the forecast period 2022 to 2030.”
The increasing prevalence of respiratory disorders among people has boosted the market demand for advanced respiratory diagnostic procedures. Faulty lifestyle practices followed by people all over the world, which include the consumption of tobacco and smoking, have hampered the respiratory health of people to a great extent.
The demand for advanced healthcare facilities in urban areas has also significantly boosted the market’s size. However, many people suffer from respiratory disorders and are left undiagnosed due to a lack of advanced healthcare facilities. Therefore, the key market players invest in developing new technologies that produce faster results after a diagnostic test.
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Market Dynamics
Drivers
As there has been an increase in the different types of respiratory diseases across the globe, the demand for its diagnosis will grow in the coming years. In addition, the outbreak of the COVID-19 pandemic has created more demand for the devices which are used in the diagnosis and treatment of respiratory diseases. This market has seen healthy growth in recent years due to the pandemic outbreak. As a result, the demand for various devices to diagnose these diseases has also increased. Growing support from the government will play an instrumental role in the market’s growth.
Restraints
When diagnosing any disease, there are significantly fewer reimbursement policies globally. Many patients worldwide depend largely on reimbursement for any diagnostics test or treatment. As reimbursement policies are unfavorable, the demand for diagnostic tests will decrease in the coming years. Asia Pacific region has almost no coverage for the diagnostics test or negligible coverage, due to which the growth in the demand for these services will be hampered during the forecast.
(A free sample of the Respiratory Diagnostics report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Respiratory Diagnostics report has been modified to include the COVID-19 impact study prior to delivery.)
Opportunities
As there has been an increase in the geriatric population globally, the demand for diagnosing respiratory diseases will grow in the coming years. Furthermore, constant research and development in this field have led to various diagnostic tests and procedures that will positively impact the market’s growth in the coming years. Therefore, innovative diagnostics methods will provide good market development opportunities during the forecast period.
Challenges
The cost of sociated in the healthcare sector is high, and the diagnosis of respiratory diseases is expensive under reimbursement policies that are unfavorable in many regions across the globe. All of these factors will hamper the market’s growth in the coming years. as a large population worldwide is underdiagnosed and undertreated, these two factors will be significant challenges in the development of the market during the forecast. In addition, the medical infrastructure in middle-income and low-income countries is unsuitable for market growth. The penetration of this technology for developing nations is less. Many technologies have emerged in recent years and challenged the market’s growth. The unavailability of skilled professionals is another challenge in the market’s growth.
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Report Highlights
Based on products and services, the instrument and devices segment has presented tremendous growth due to its extensive use in the healthcare industry for diagnosing the respiratory condition of patients. Advanced devices evaluate the diseases and carry out suitable treatment procedures.
Based on end-users, clinical laboratories emerge as the largest market as most people suffering from respiratory disorders visit a hospital directly to get themselves treated. Therefore, the diagnostic procedures carried out by these sectors prove to be the driving factors for the market.
Based on disease, the tuberculosis segment has emerged as the largest market due to the faulty lifestyle practices of the people. In addition, lung cancer has also contributed significantly to the market’s growth due to its rising prevalence among people and its long-term treatment.
Based on distribution channels, direct tender and retail sales have been the segments under this category that have significantly contributed to the market’s growth. Finally, based on test type, SOA tests have proved to be the largest market for respiratory diagnostic procedures due to their high demand in the healthcare industry.
Based on geography, the region of North America has shown significant growth owing to the vast number of patients suffering from respiratory disorders.
Key questions answered in this report:
- What is the size of the Respiratory Diagnostics market and what is its expected growth rate?
- What are the primary driving factors that push the Respiratory Diagnostics market forward?
- What are the Respiratory Diagnostics Industry's top companies?
- What are the different categories that the Respiratory Diagnostics Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Respiratory Diagnostics market sample report and company profiles?
Click Here to Access a Free Sample Report of the Global Respiratory Diagnostics Market @ https://www.custommarketinsights.com/report/respiratory-diagnostics-market/
Regional Snapshots
The geographical sector of North America has emerged as the largest market, further the respiratory diagnostic market. A considerable number of people residing in this region suffer from respiratory disorders, which increases the demand for advanced diagnostic procedures which can facilitate the healthcare sector to decide on a suitable line of treatment for the particular patient. In addition, progressive healthcare facilities provided by the government to the people have boosted the market size of respiratory diagnostics.
The European nations emerged as the next largest market after North America due to the facilities provided by the healthcare sector. However, the Asia Pacific region is also expected to grow in the coming years. As the healthcare infrastructure in the Asia Pacific region is improving and the awareness among consumers has also increased in recent years, the demand for the diagnosis will continue to grow.
The market for diagnostic procedures will grow in the coming years as there has been an increase in the different types of respiratory diseases. Therefore, many companies are making a good amount of investments in enhancing the market, and they shall play an instrumental role in the growth of the Asia Pacific region during the forecast period.
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by Regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 8.2 Billion |
| Projected Market Size in 2030 | USD 13.80 Billion |
| CAGR Growth Rate | 8.5% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Prominent Players | Medtronic (Ireland), COSMED srl (Italy) , GENERAL ELECTRIC COMPANY (US), Koninklijke Philips N.V. (Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), NIHON KOHDEN CORPORATION (Japan), GC Diagnostics Corporation (South Korea), Masimo (US), Drägerwerk AG & Co. KGaA (Germany), Bio-Rad Laboratories Inc. (US), bioMérieux SA (France), Carestream Health (US), Abbott (US), Johnson & Johnson Services Inc. (US), Thermo Fisher Scientific Inc. (US), Novartis AG (Switzerland), GlaxoSmithKline plc (UK), Bayer AG (Germany), BD (US), and Others |
| Key Segment | By Product and Services, By Test Type, By Disease, By End User, By Distribution Channel, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. Buy Now |
Key Players
- Medtronic (Ireland)
- COSMED srl (Italy)
- GENERAL ELECTRIC COMPANY (US)
- Koninklijke Philips N.V. (Netherlands)
- Hoffmann-La Roche Ltd (Switzerland)
- NIHON KOHDEN CORPORATION (Japan)
- GC Diagnostics Corporation (South Korea)
- Masimo (US)
- Drägerwerk AG & Co. KGaA (Germany)
- Bio-Rad Laboratories Inc. (US)
- bioMérieux SA (France)
- Carestream Health (US)
- Abbott (US)
- Johnson & Johnson Services Inc. (US)
- Thermo Fisher Scientific Inc. (US)
- Novartis AG (Switzerland)
- GlaxoSmithKline plc (UK)
- Bayer AG (Germany)
- BD (US)
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Browse the full “Respiratory Diagnostic Market Size, Trends and Insights By Product and Services (Assays and reagents, instruments and devices, Services and software), By Test Type (Mechanical tests, Molecular diagnostic test, OSA diagnostic test, Traditional diagnostic tests, Imaging tests), By Disease (Lung cancer, Tuberculosis, Chronic obstructive pulmonary disorder, Bronchitis, Pulmonary fibrosis, Asthma, Other diseases), By End User (Physician offices, Hospital, Clinical laboratories, Others), By Distribution Channel (Retail sales, Direct tender, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” Report at https://www.custommarketinsights.com/report/respiratory-diagnostics-market/
Recent developments
- In May 2020 – a collaboration was made between SIME and an existing investor to expand the business.
- In June 2020 – thoracic care suit was introduced by GE Healthcare, including artificial intelligence algorithms. The 8 algorithms present in this system assist in diagnosing the abnormalities in the chest X-ray.
- In July 2020 – three diagnostic kits into the market by BATM. The company took this step to enhance the diagnostic facilities for covid.
Segments covered in the report
By Product and Services
- Assays and reagents
- instruments and devices
- Services and software
By Test Type
- Mechanical tests
- Molecular diagnostic test
- OSA diagnostic test
- Traditional diagnostic tests
- Imaging tests
By Disease
- Lung cancer
- Tuberculosis
- Chronic obstructive pulmonary disorder
- Bronchitis
- Pulmonary fibrosis
- Asthma
- Other diseases
By End User
- Physician offices
- Hospital
- Clinical laboratories
- Others
By Distribution Channel
- Retail sales
- Direct tender
- Others
On the basis of Geography
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
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This Respiratory Diagnostics Market Research/Analysis Report Contains Answers to the following Questions.
- Which Manufacturing Technology is used for Respiratory Diagnostics? What Developments Are Going on in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Respiratory Diagnostics Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was the Global Market Status of the Respiratory Diagnostics Market? What Was the Capacity, Production Value, Cost and PROFIT of the Respiratory Diagnostics Market?
- What Is the Current Market Status of the Respiratory Diagnostics Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Respiratory Diagnostics Market by Considering Applications and Types?
- What Are Projections of the Global Respiratory Diagnostics Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Respiratory Diagnostics Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact on Respiratory Diagnostics Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are the Market Dynamics of the Respiratory Diagnostics Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Respiratory Diagnostics Industry?
Directly Purchase a copy of the Respiratory Diagnostics report [220+ Pages] @ https://www.custommarketinsights.com/report/antibacterial-coatings-market/
Reasons to Purchase Respiratory Diagnostics Market Report
- Respiratory Diagnostics Market Report provides qualitative and quantitative market analysis based on segmentation involving economic and non-economic factors.
- Respiratory Diagnostics Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Respiratory Diagnostics Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Respiratory Diagnostics Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
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Reasons for the Research Report
- The study provides a thorough overview of the global Respiratory Diagnostics market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Respiratory Diagnostics market analysis.
- The competitive environment of current and potential participants in the Respiratory Diagnostics market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and Industry Vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Respiratory Diagnostics market should find this report useful. The research will be useful to all market participants in the Respiratory Diagnostics Industry.
- Managers in the Respiratory Diagnostics sector are interested in publishing up-to-date and projected data about the worldwide Respiratory Diagnostics market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Respiratory Diagnostics products' market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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