Respiratory Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Respiratory Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global respiratory diagnostics market size reached US$ 7.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.65% during 2023-2028.

Respiratory diagnostics refer to the clinical assessment of lung functioning and related processes. It includes several mechanical, imaging and molecular diagnostic tests for detecting asthma, chronic obstructive pulmonary disease (COPD), lung cancer, bronchitis, and pulmonary fibrosis. It uses procedures, such as spirometry, oximetry, transcutaneous CO2 monitoring, sniff nasal inspiratory pressure (SNIP), chest X-ray and computed tomography (CT) scan. In some instances, sleep studies are also conducted to diagnose and assess the presence of sleep apnea and nocturnal hypoventilation.

The growing prevalence of respiratory diseases is one of the key factors driving the growth of the market. The increasing number of smokers and consumption of alcohol, coupled with sedentary lifestyle habits and stressful routines, have resulted in rising incidences of COPD and other severe respiratory conditions, such as lung cancer. Furthermore, various technological innovations in respiratory diagnostic testing, including the utilization of Internet of Things (IoT) and Artificial Intelligence (AI) for the diagnosis of COPD and outpatient management, are creating a positive impact on the market growth. Also, an increase in the demand for respiratory diagnostics devices in various privately-owned hospitals and healthcare centers and efforts by both government and non-governmental organizations (NGO) to make quality healthcare facilities accessible to all are driving the market for respiratory diagnostics. Other factors contributing to the market growth include enhanced research and development (R&D), rising geriatric population, rapid urbanization and increasing industrial establishments, and growing pollution levels across the globe.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global respiratory diagnostics market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product and service type, test type, disease and end-user.

Breakup by Product and Service Type:

Instruments and Services
Assays and Reagents
Services and Software

Breakup by Test Type:

Mechanical Tests
Obstructive Sleep Apnoea (OSA) Diagnostic Tests
Imaging Tests
Traditional Diagnostic Tests
Molecular Diagnostic Tests
Others

Breakup by Disease:

Tuberculosis
Asthma
Chronic Obstructive Pulmonary Disease (COPD)
Lung Cancer
Others

Breakup by End-User:

Hospitals
Clinics
Reference and Clinical Laboratories
Others

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:
The report has also analyzed the competitive landscape of the market with some of the key players being Philips Healthcare, Abbott Laboratories, Biomerieux, Becton Dickinson, Thermo Fisher Scientific Inc., Alere Inc., Seegene Inc., 3M, Bio-Rad Laboratories, SDI Diagnostics and COSMED.

Key Questions Answered in This Report:
How has the global respiratory diagnostics market performed so far and how will it perform in the coming years?
What are the key regional markets in the global respiratory diagnostics industry?
What has been the impact of COVID-19 on the global respiratory diagnostics industry?
What is the breakup of the market based on the product and service type?
What is the breakup of the market based on the test type?
What is the breakup of the market based on the disease?
What is the breakup of the market based on the end-user?
What are the various stages in the value chain of the global respiratory diagnostics industry?
What are the key driving factors and challenges in the global respiratory diagnostics industry?
What is the structure of the global respiratory diagnostics industry and who are the key players?
What is the degree of competition in the global respiratory diagnostics industry?