The Infinium Global Research analyzes the Global Respiratory Disease Testing Market over the period of 2019 to 2025. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global respiratory disease testing market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of respiratory disease testing. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the respiratory disease testing market during the period. The global respiratory disease testing market is projected to grow at a CAGR of 3.2% over the forecast period of 2019-2025.
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Increasing Frequency of Respiratory Diseases Due to Rising Air Pollution Levels is One of the Major Factors Driving the Growth of the Respiratory Disease Testing Market
The increasing frequency of respiratory diseases due to rising air pollution levels is one of the major factors driving the growth of the respiratory disease testing market. The growing rate of pollution in the air and the release of hazardous gases causing lung diseases are increasing cases like COPD and other respiratory diseases around the world. According to the Global Burden of Disease Study, almost 251 individuals were suffering from COPD and related diseases in 2016.
According to the World Health Organization, COPD will become the third leading cause of death worldwide by 2030. However, less usage of spirometers and digital radiology may hamper market growth during the forecast period. Moreover, the execution of advanced technologies, such as computed tomography to diagnosis chronic obstructive pulmonary diseases is estimated to drive the market in the upcoming years.
Respiratory Disease Testing Market: Segmentation
The global respiratory disease testing market is segmented based on product and end-user. In terms of product, the market is bifurcated into imaging tests, respiratory measurement, blood gas test, and other products. The imaging tests such as computational tomography scans, x-rays, etc., are used to detect damage to the lungs caused by emphysema, chronic bronchitis, and nonreversible asthma. The imaging tests segment accounts for the largest market share owing to their widespread adoption as first-line diagnostic tests.
Based on end-user, the respiratory disease testing market is categorized into hospitals, clinical laboratories, and other home care facilities. Among them, the hospital segment holds the largest market share as they provide quick real-time imaging in case of emergencies.
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North America Holds the Maximum Market Share and is Expected to Dominate the Market
Geographically, the respiratory disease testing market is classified into North America, Europe, Asia Pacific, and the Rest of the World. Among all regions, North America holds the maximum market share and is expected to dominate the market during the forecast period. This is mainly due to the growing popularity of portable devices such as advanced spirometers and noninvasive ventilators in the North American region. The Asia Pacific is projected to grow at a faster rate over the forecast period. This is primarily due to the increasing incidence of respiratory diseases, the strong medical tourism industry, and growing investments by market players in the region.
Respiratory Disease Testing Market: Competitive Analysis
The global respiratory disease testing market comprises with the players such as Becton, Dickinson and Company, CareFusion Corporation, Koninklijke Philips N.V, GE Healthcare, ResMed, Fisher & Paykel Healthcare Limited, Medtronic, MGC Diagnostics Corporation, and CARESTREAM MEDICAL. These companies are mainly focusing on new product launch and merger and acquisition strategy to gain revenue. The players such as Koninklijke Philips N.V., and ResMed have a strong market presence due to the extensive product portfolio.
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- Comprehensive analysis of global as well as regional markets of the Respiratory Disease Testing.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research– Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.