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 published by Coherent Market Insights.
Market Overview:
Respiratory disease testing helps in screening, diagnosis and management of respiratory diseases such as asthma, COPD and pneumonia. Respiratory disease testing devices provide accurate diagnosis through techniques like spirometry, lung function tests, imaging tests etc. and help doctors and patients make appropriate treatment decisions.
Market key trends:
One of the key trends in the respiratory disease testing market is growing adoption of digital technologies. With advent of digital health technologies, many players are developing integrated digital solutions for remote monitoring and management of respiratory diseases. This helps in early diagnosis, timely intervention and improving patient outcomes. For example, combination devices with connectivity features allows monitoring of lung function and other health data at home which gets transmitted to healthcare providers. This enables providers to track disease progression remotely and adjust treatment plans accordingly. Furthermore, growing adoption of advanced imaging modalities like CT scanning and introduction of artificial intelligence and machine learning solutions for automated diagnosis is also fueling the market growth.
Segment Analysis
This market is dominated by the diagnostic devices segment. Within diagnostic devices, imaging devices such as X-ray systems, CT scanners, MRI systems, ultrasound systems, and other molecular diagnostic devices play a major role due to the ability to provide high-quality images that aid in accurate diagnosis of respiratory diseases. Growing demand for advanced imaging modalities continues to drive the growth of this segment. Diagnostic tests are the second largest segment and include laboratory tests like blood tests, urine tests, stool tests, and other biological fluid tests to detect respiratory infections and other lung disorders.
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 globally.
Regional analysis
North America dominates the global market currently due to high adoption of advanced diagnostic devices and presence of major players in the region. However, Asia Pacific is expected to grow at the fastest pace during the forecast period supported by rising healthcare expenditure, growing population, and increasing awareness regarding timely diagnosis of respiratory diseases.
Key players
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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