The Respiratory Disease Testing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Respiratory Disease Testing Global Market Report 2024, The respiratory disease testing market size has grown steadily in recent years. It will grow from $3.42 billion in 2023 to $3.58 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to environmental factors and pollution, tobacco smoking epidemic, occupational respiratory hazards, awareness and health education programs, government initiatives for disease control.
The respiratory disease testing market size is expected to see steady growth in the next few years. It will grow to $4.31 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to rise in airborne respiratory viruses, focus on home-based testing solutions, increased research in precision medicine, continued environmental health concerns, focus on early intervention and prevention. Major trends in the forecast period include point-of-care testing, integration of artificial intelligence (ai), remote monitoring technologies, telehealth services, customized biomarker panels, enhanced breath analysis techniques.
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
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The respiratory disease testing market covered in this report is segmented –
1) Respiratory Disease Testing Market By Test Type: Imaging Tests, Mechanical Tests, In-Vitro Diagnostic Tests
2) Respiratory Disease Testing Market By Products: Lung Volume, Imaging, Spirometry, Peak Flow, Blood Gas, Other Products
3) Respiratory Disease Testing Market By Application: Chronic Obstructive Pulmonary Disease, Lung Cancer, Asthma, Tuberculosis Female, Other Application
4) Respiratory Disease Testing Market By End-User: Hospitals, Physician clinics, Clinical laboratories, Other End-User
Top Major Players
Medtronic PLC
Carestream Medical Ltd.
Abbott Laboratories
Siemens Healthineers AG
Koninklijke Philips N.V.
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.
The respiratory disease testing market report table of contents includes:
1. Executive Summary
2. Respiratory Disease Testing Market Characteristics
3. Respiratory Disease Testing Market Trends And Strategies
4. Respiratory Disease Testing Market – Macro Economic Scenario
5. Global Respiratory Disease Testing Market Size and Growth
……
31. Global Respiratory Disease Testing Market Competitive Benchmarking
32. Global Respiratory Disease Testing Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Respiratory Disease Testing Market
34. Respiratory Disease Testing Market Future Outlook and Potential Analysis
35. Appendix
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