Global Respiratory Diagnostics Market Segmentation, By Product and Services (Instruments and Devices, Assays and Reagents, Services and Software), Test Type (Traditional Diagnostic Tests, Mechanical Tests, Imaging Tests, Molecular Diagnostic Tests), Diseases (Chronic Obstructive Pulmonary Disease (COPD), Lung Cancer, Asthma, Tuberculosis, Bronchitis, Pulmonary Fibrosis, Other Diseases), End User (Hospital/Clinical Laboratories, Physician Offices, Reference Laboratories, Other End Users), Distribution Channel (Direct Tender, Retail Sales, Other) – Industry Trends and Forecast to 2031
Respiratory Diagnostics Market Analysis
According to Forum of International Respiratory Societies (FIRS), each year 4 million people die from chronic respiratory disease. This indicates that respiratory disorders are on the rise on global basis. This has resulted in innovations by the major players pertaining to diagnostic medical products and technologies, thereby carving the way for the growth and acceptance of respiratory diagnostics.
Respiratory Diagnostics Market Size
Global Respiratory Diagnostics Market size was valued at USD 8.69 billion in 2023 and is projected to reach USD 16.08 billion by 2031, with a CAGR of 8.00% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Respiratory Diagnostics Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Key Market Players
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GENERAL ELECTRIC COMPANY (US), Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), COSMED srl (Italy), F. Hoffmann-La Roche Ltd (Switzerland), NIHON KOHDEN CORPORATION (Japan), Drägerwerk AG & Co. KGaA (Germany), Bio-Rad Laboratories, Inc. (US), GC Diagnostics Corporation (South Korea), Masimo (US), bioMérieux SA (France), Carestream Health (US), Thermo Fisher Scientific Inc. (US), Novartis AG (Switzerland), Abbott (US), Johnson & Johnson Services, Inc. (US), GlaxoSmithKline plc (UK), Bayer AG (Germany) and BD (US)
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Market Opportunities
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Respiratory Diagnostics Market Definition
From the name itself, it is clear that respiratory diagnostics are the medical products and technologies that are used to diagnose the respiratory diseases and disorders in the patients. Respiratory diagnostics if effective as it can diagnose the diseases at an early stage.
Respiratory Diagnostics Market Dynamics
Drivers
- Rising Prevalence of Conditions
Growing incidence rate of respiratory diseases disorders globally is one of the major factors fostering the growth of the market. Lung cancer, tuberculosis, bronchitis, pneumonia and emphysema are the common respiratory conditions found globally. More than 1 million cases of lung cancer per year are witnessed in India and this condition may prevail for lifetime if not treated properly.
- Research and Development Proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the advancements in medical technologies and devices is also bolstering the market growth rate.
- Growing Investment for Healthcare Facilities
Surging focus towards improving the condition of healthcare facilities and improving the overall healthcare infrastructure another important factor fostering the growth of the market. Rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities.
Opportunities
Furthermore, upsurge in the public-private funding for target research activities, growing number of alcohol consumers and smokers and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2024 to 2031. Additionally, unhealthy lifestyle of individuals, rising internet penetration rate, rising geriatric population base, increasing pollution level, product development and commercialization and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
Restraints/Challenges
On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities, uneven distribution of medical services, dearth of skilled medical professionals, and dearth of awareness in the backward economies are expected to obstruct market growth. Also, lack of favorable reimbursement scenario and technology penetration in the developing economies, emergence of alternative technologies, limited insurance coverage and regulatory compliance, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2024-2031.
This respiratory diagnostics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the respiratory diagnostics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Respiratory Diagnostics Market
The COVID-19 pandemic essentially affected the market. This is because of the fact that majority of the healthcare resources were directed towards meeting the demand arising out of COVID-19 patients. Postponement of non-elective surgeries and non-essential healthcare procedures has further derailed the market growth rate in this pandemic period. Lockdowns, quarantines, and social distancing have enhanced many posture-related problems. Further, restrictions imposed on travel owing to the lockdown regulations further challenged the market growth rate in this period. However, the post pandemic period will help to generate profits and revenues.
Respiratory Diagnostics Market Scope
The respiratory diagnostics market is segmented on the basis of product and services, test type, diseases, end user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product and services
- Instruments and Devices
- Assays and Reagents
- Services and Software
On the basis of product and services, the respiratory diagnostics market is segmented into instruments and devices, assays and reagents and services and software.
Test type
- Traditional Diagnostic Tests
- Mechanical Tests
- Imaging Tests
- Molecular Diagnostic Tests
On the basis of test type, the respiratory diagnostics market is segmented into traditional diagnostic tests, mechanical tests, imaging tests and molecular diagnostic tests.
Diseases
- Chronic Obstructive Pulmonary Disease (COPD)
- Lung Cancer
- Asthma
- Tuberculosis
- Bronchitis
- Pulmonary Fibrosis
- Other Diseases
End user
- Hospital/Clinical Laboratories
- Physician Offices
- Reference Laboratories
- Other End Users
Distribution channel
- Direct Tender
- Retail Sales
- Other
Respiratory Diagnostics Market Regional Analysis
The respiratory diagnostics market is analyzed and market size insights and trends are provided by country, product and services, test type, diseases, end user and distribution channel as referenced above.
The countries covered in the respiratory diagnostics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates market because of the rising prevalence of respiratory diseases and growing geriatric population in the region. Asia-Pacific will score the highest CAGR owing to the rising geriatric population base and increasing personal disposable income.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Respiratory Diagnostics Market Share
The respiratory diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to respiratory diagnostics market.
Respiratory Diagnostics Market Leaders Operating in the Market Are:
- GENERAL ELECTRIC COMPANY (US)
- Koninklijke Philips N.V. (Netherlands)
- Medtronic (Ireland)
- COSMED srl (Italy)
- F. Hoffmann-La Roche Ltd (Switzerland)
- NIHON KOHDEN CORPORATION (Japan)
- Drägerwerk AG & Co. KGaA (Germany)
- Bio-Rad Laboratories, Inc. (US)
- GC Diagnostics Corporation (South Korea)
- Masimo (US)
- bioMérieux SA (France)
- Carestream Health (US)
- Thermo Fisher Scientific Inc. (US)
- Novartis AG (Switzerland)
- Abbott (US)
- Johnson & Johnson Services, Inc. (US)
- GlaxoSmithKline plc (UK)
- Bayer AG (Germany)
- BD (US)
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