The Business Research Company’s Respiratory Devices And Equipment (Diagnostic) Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, March 21, 2022 /EINPresswire.com/ -- The increasing prevalence of various respiratory diseases contributed to the global respiratory devices and equipment market growth by increasing the use of diagnostic devices and equipment for diagnosis and treatment. Diseases such as chronic obstructive pulmonary disease (COPD) are more prevalent in the geriatric population. COPD is a type of obstructive lung disease that results in long-term breathing problems. For instance, in June 2021, according to the world health organization data, chronic obstructive pulmonary disease is the third disease on the list of causing death in the world. Thus, the increased number of such cases has surged the demand for diagnostic devices and equipment, therefore driving the market’s growth.
The global respiratory devices and equipment (diagnostic) market size is expected to grow from $6.36 billion in 2021 to $6.93 billion in 2022 at a compound annual growth rate (CAGR) of 9.0%. The global respiratory devices and equipment (diagnostic) market share is expected to grow to $9.35 billion in 2026 at a CAGR of 7.8%.
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Respiratory devices and equipment (diagnostic) market trends include companies in the market increasingly investing in portable and wireless diagnostic respiratory devices. The trend is being driven by the ease of handling, cost-effectiveness, advanced features of these devices, and their suitability for use at home care organizations. Innovative technology-enabled portable respiratory devices are being launched into the market, which, unlike traditional devices, can be used for immediate diagnosis of vital signs, for example, the patients’ respiratory rate and the pulse rate. For instance, in 2019, the US Food and Drug Administration approved MediPines Corporation's non-invasive portable medical device, which provides clinicians with real-time pulmonary parameters and insights to support rapid triage and treatment decisions for respiratory conditions.
In June 2020, AireHealth acquired BreathResearch for an undisclosed amount. The deal comprises the acquisition of IP, research, and patents, which include work on machine learning analytics for respiratory condition tracking. BreathResearch is a US-based company engaged in converting the airwaves of breathing into sound waves producing new respiratory analytics which improve health, fitness, and performance.
Major players covered in the global respiratory devices and equipment (diagnostic) market are ResMed. Inc, Medtronic PLC, Massimo Corporation, Fisher & Paykel Healthcare Limited, Koninklijke Philips N.V, Smiths Medical, GE Healthcare, Chart Industries, Philips Healthcare, and Becton Dickinson and Company.
TBRC’s global respiratory devices and equipment (diagnostic) market report is segmented by product into instruments and devices, assays and reagents, by test type into traditional diagnostic tests, mechanical tests, imaging tests, molecular diagnostic tests, by disease type into chronic obstructive pulmonary disease, lung cancer, asthma, tuberculosis, others, by end-user into hospital/clinical laboratories, physician offices, reference laboratories, others.
Respiratory Devices And Equipment (Diagnostic) Global Market Report 2022 – By Product (Instruments And Devices, Assays And Reagents), By Test Type (Traditional Diagnostic Tests, Mechanical Tests, Imaging Tests, Molecular Diagnostic Tests), By Disease Type (Chronic Obstructive Pulmonary Disease, Lung Cancer, Asthma, Tuberculosis), By End-User (Hospital/Clinical Laboratories, Physician Offices, Reference Laboratories) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a respiratory devices and equipment (diagnostic) market overview, forecast respiratory devices and equipment (diagnostic) market size and growth for the whole market, respiratory devices and equipment (diagnostic) market segments, geographies, respiratory devices and equipment (diagnostic) market trends, respiratory devices and equipment (diagnostic) market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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