Major players in the respiratory disease testing market are Medtronic plc, Carestream Medical Ltd., Abbott Laboratories, Seimens Healthineers AG, Koninklijke Philips N.V., ResMed Inc., Thermo Fisher Scientific Inc.
New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Respiratory Disease Testing Global Market Report 2023" - www.reportlinker.com/p06479766/?utm_source=GNW
, Beckton Dickinson And Company (BD), F. Hoffmann-La Roche Ltd., Alere Inc., Nihon Kohden Corporation, GE HealthCare Technologies Inc., CareFusion Corporation, Merck And Co. Inc., Fisher And Paykel Healthcare Corporation Limited, and Qiagen N.V.
The global respiratory disease testing market is expected to grow from $3.26 billion in 2022 to $3.42 billion in 2023 at a compound annual growth rate (CAGR) of 4.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The respiratory disease testing market is expected to reach $4.07 billion in 2027 at a CAGR of 4.4%.
The respiratory disease testing market includes revenues earned by entities by providing services such as exhaled nitric oxide tests lung function tests. oxygen therapy, bronchoscopy, ultrasonography, nuclear lung scanning, and pulmonary artery angiography. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Respiratory disease testing refers to the treatment process of testing for various respiratory diseases using physical examinations. It helps diagnose the lung condition and measures how fast it can blow air out, so the test’s results can assist a clinician in diagnosing respiratory disease even before a patient experience symptoms.
North America was the largest region in the respiratory disease testing market in 2022.Asia-Pacific is expected to be the fastest growing region in the forecast period.
The regions covered in respiratory disease testing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of tests involved in respiratory disease testing are imaging tests, mechanical tests, and in-vitro diagnostic tests.Imaging tests refer to a subset of diagnostic procedures that provide in-depth images of various bodily regions.
The products used are lung volume, imaging, spirometry, peak flow, blood gas, and others. It is applied for several applications such as chronic obstructive pulmonary disease, lung cancer, asthma, female tuberculosis, and others used in hospitals, physician clinics, clinical laboratories, and others.
The rising prevalence of respiratory diseases will boost the respiratory disease testing market going forward.Respiratory diseases refer to medical conditions that affect the respiratory system, which includes the lungs, bronchi, trachea, larynx, pharynx, and nasal passages.
Respiratory disease testing is primarily used for the early detection and diagnosis of respiratory conditions, which can lead to earlier treatment and management.This can help prevent the progression of the disease and is also essential for controlling the spread of infectious respiratory diseases and reducing the risk of complications.
For instance, in September 2022, according to the data from the NCD Alliance, a Switzerland-based civil society organization, lung cancer was the leading cause of cancer deaths worldwide, with 2.2 million new cases and 1.8 million fatalities anticipated year on year. Further, chronic respiratory disorders impacted 550 million adults globally, and 4.2 million people died, or 7 %. Therefore, the rising prevalence of respiratory diseases will drive the respiratory disease testing market forward
Technological advancements are a key trend gaining popularity in the respiratory disease testing market.Major companies operating in respiratory disease testing are focused on developing artificial intelligence and machine learning technologies to optimize treatment protocols and improve patient outcomes to strengthen their position in the market.
For instance, in March 2022, Respira Labs, a US-based healthcare technology company, launched an AI-powered wearable device called Sylvee for monitoring lung function.The device is designed to be worn as a chest strap and uses AI and machine learning algorithms to analyze data from multiple sensors that measure breathing rate, volume, and patterns.
It can help with the early diagnosis and management of chronic obstructive pulmonary disease (COPD), asthma, and COVID-19, and the device uses advanced AI algorithms to analyze breath sounds and provide real-time feedback on lung function.
In January 2023, CAIRE Inc., a US-based medical supply and manufacturing company, acquired MGC Diagnostics Holdings for an undisclosed amount. With this acquisition, CAIRE Inc. wants to increase the scope of its product line, diversify its income sources by adding cardiorespiratory diagnostic products to its portfolio, and strengthen its position as a market leader in medical technology for respiratory and cardiorespiratory diagnostics. MGC Diagnostics Holdings Inc. is a US-based medical technology company that provides cardiorespiratory diagnostic solutions and respiratory disease testing products.
The countries covered in the respiratory disease testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The respiratory disease testing market research report is one of a series of new reports that provides respiratory disease testing market statistics, including respiratory disease testing industry global market size, regional shares, competitors with a respiratory disease testing market share, detailed respiratory disease testing market segments, market trends and opportunities, and any further data you may need to thrive in the respiratory disease testing industry. This respiratory disease testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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