RESPIRATORY DISEASE TESTING MARKET ANALYSIS (2020-2027)

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RESPIRATORY DISEASE TESTING MARKET ANALYSIS
(2020-2027)

• Respiratory Disease Testing Market, By Test Type
  (Imaging Test, Spirometry, Peak Flow Test, Blood
  Gas Test, Lung Volume Test, Others), By End User
  (Hospitals, Physician Offices, Clinical
  Laboratories), and By Region (North America,
  Latin America, Europe, Asia Pacific, Middle East
  Africa) - Size, Share, Outlook, and Opportunity
  Analysis, 2020 - 2027

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• Respiratory disease is a medical condition that
  affects the structure and organs associated with
  respiration or breathing. Based on anatomical
  features, the respiratory system has been
  segmented into upper respiratory tract and lower
  respiratory tract. The upper respiratory tract
  comprises pharynx, larynx and nasal passages,
  while the lower respiratory tract includes
  trachea, lungs and bronchi.

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Statistics

• The global respiratory disease testing market is
  estimated to account for US 3,738.8 Mn in terms
  of value by the end of 2027.

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Global Respiratory Disease Testing Market Drivers

• Increasing prevalence of respiratory diseases is
  expected to propel growth of the global
  respiratory disease testing market over the
  forecast period. For instance, according to a
  report by Global Initiative For Chronic
  Obstruction Diseases 2018 report, COPD is
  expected to result in 4.5 million global deaths
  annually by 2030.
• Moreover, increasing geriatric population is also
  expected to aid in growth of the market. For
  instance, according to the World Health
  Organization, geriatric population is expected to
  reach 2 billion by 2050, up from 900 million in
  2015.

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Statistics

• North America held dominant position in the
  global respiratory disease testing market in
  2019, accounting for 34.6 share in terms of
  value, followed by Asia Pacific and Europe,
  respectively.

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Figure 1 Global Respiratory Disease Testing
Market Share () Value, By Region, 2019
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Global Respiratory Disease Testing Market
Restraints

• Low adoption rate of digital radiography is
  expected to hinder the market growth. Digital
  radiography systems have witnessed low adoption
  rate as these are more expensive than analog
  radiography systems (US 11,000 US 22,000).
  The cost of digital radiography equipment ranges
  from US 100,000 to US 130, 000.
• Moreover, inaccuracy of rapid diagnostic tests is
  also expected to hinder growth of the market. For
  instance, in May 2020, a study by researchers at
  New York University found that a COVID-19 rapid
  diagnostic made by Abbott Laboratories failed to
  detect up to 48 of positive results.

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Global Respiratory Disease Testing Market
Opportunities  

• Increasing prevalence of lung cancer is expected
  to offer lucrative growth opportunities for
  players in the global respiratory disease testing
  market. For instance, according to The American
  Cancer Society, in 2020, the U.S. is expected to
  witness around 228,820 new cases of lung cancer
  and around 135,720 deaths due to the disease.
• Moreover, increasing number of smokers is also
  expected to aid in growth of the market. For
  instance, according to the World Health
  Organization, 1.337 billion people smoked tobacco
  worldwide in 2018.  

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Statistics

• The global respiratory disease testing market was
  valued at US 2,831.0 Mn in 2019 and is forecast
  to reach a value of US 3,738.8 Mn by 2027 at
  a CAGR of 3.5 between 2020 and 2027.

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• Figure 2 Global Respiratory Disease Testing
  Market Value (US Mn), 2016 2027

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Market Trends/Key Takeaways

• Increasing air pollution is boosting growth of
  the market. For instance, according to Health
  Effects Institute estimates (provided by
  University of Texas at Austin), air pollution was
  the fifth leading risk factor for mortality
  worldwide in 2019.
• Major players in the market are focused on
  launching new products to expand their product
  portfolio. For instance, in March 2020, Quest
  Diagnostics announced to launch a coronavirus
  (COVID-19) test service that aids the presumptive
  detection of nucleic acid in respiratory
  specimens of patients meeting the Centers for
  Disease Control and Preventions clinical
  criteria for COVID-19 testing.

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Regulations

• Occupational Safety and Health Administration
  (OSHA), the U.S. Department of Labor, stated in
  2013 that healthcare professionals conducting
  occupational spirometry testing should complete
  initial lung function testing course approved by
  National Institute for Occupational Safety and
  Health (NIOSH). It also recommended that a lung
  function testing equipment should have the
  following features meet accuracy and precision
  criteria set by American Thoracic
  Society/European Respiratory Society and
  instrument should have real time graphical
  display.

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Global Respiratory Disease Testing Market
Competitive Landscape

• Major players operating in the global respiratory
  disease testing market include, CareFusion
  Corporation, Carestream Health, Inc., COSMED,
  Futuremed America, Inc., GE Healthcare, MGC
  Diagnostics Corporation, ndd Medical
  Technologies, Inc., Nihon Kohden Corporation,
  Perkin Elmer, Inc., Philips Healthcare, and Quest
  Diagnostics.

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Global Respiratory Disease Testing Market Key
Developments

• Major players in the market are focused on
  launching new products to expand their product
  portfolio. For instance, in June 2020, Carestream
  Health, Inc. launched Carestream NDT INDUSTREX
  Digital Viewing Software Version 5.2, a
  non-destructive testing (NDT) technology.

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