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Respiratory Disease Testing Market Revenue to Worth Over US$ 3,738.8 Million by 2027 | Coherent Market Insights

December 7th, 2020 Coherent Market Insights Releases

Equipment used to detect pulmonary abnormalities hold immense potential due to increasing prevalence of various respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis and pneumonia. Moreover, growing geriatric population and technological advancements would drive the global respiratory disease testing market.

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.

Request for the trending sample of this report: https://www.coherentmarketinsights.com/insight/request-sample/4030

Global Respiratory Disease Testing Market: Drivers

Approval and launch of new tests is expected to propel growth of the global respiratory disease testing market over the forecast period. For instance, in July 2020, the U.S. Food and Drug Administration has given emergency approval to Quest Diagnostics to use its COVID-19 test with pooled samples for coronavirus testing.

Global Respiratory Disease Testing Market: Opportunities

R&D of novel diagnostic approaches is expected to offer lucrative growth opportunities for players in the global respiratory disease testing market. For instance, in November 2019, a team of researchers from the U.S. proposed COPDGene 2019, a new diagnostic criteria for chronic obstructive pulmonary disease (COPD) that seek to identify more patients in early stages of the disease, in a paper published today in the journal Chronic Obstructive Pulmonary Diseases.

Global Respiratory Disease Testing Market: Restraints

Low adoption rate of advanced spirometers and portable spirometer is expected to hinder the market growth. The cost of advanced spirometers and portable spirometer ranges from US$ 20,000 to US$ 30,000.

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Key Takeaways:

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. Increasing product approval and launch during the forecast period is expected to assist the market growth.

Imaging Test segment held dominant position in the global respiratory disease testing market in 2019, accounting for 74.6% share in terms of value, the growth of the segment is attributed to increasing prevalence of lung cancer during the forecasted period.

Market Trends

Increasing cases of Covid-19 is boosting growth of the market. For instance, globally, as of 6:32pm CEST, 19 July 2020, there have been 14,043,176 confirmed cases of COVID-19, including 597,583 deaths, reported to the World Health Organization.

Major players in the market are focused on adopting collaboration strategies to expand their product portfolio. For instance, in March 2020, IQVIA and Quest Diagnostics, through its joint venture Q2 Solutions, collaborated with the University of Texas Medical Branch to develop a novel assay for COVID-19 tests for rapid development of a Coronavirus vaccine.

Regulations

Imaging devices (X-ray, MRI) are regulated by the Center for Devices and Radiological Health (CDRH) in the U.S. Prior commercialization of the devices manufactures required to comply with the following guidelines: 21 CFR Part 807 (register their establishments with the FDA), 21 CFR Part 807 Subpart E (premarket notification letter from FDA), and 21 CFR Part 814 (premarket approval from FDA).

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.

Read Press Release: https://www.coherentmarketinsights.com/press-release/respiratory-disease-testing-market-3300

Global Respiratory Disease Testing Market: Key Developments

April 2020: Carestream Health, Inc. announced increasing the production of its portable diagnostic imaging systems in response to the need for critical care during the COVID-19 crisis.

Segmentation

Scope of the report

  • Global Respiratory Disease Testing Market, By Test Type:
    • Imaging Test
    • Spirometry
    • Peak Flow Test
    • Blood Gas Test
    • Lung Volume Test
    • Others
  • Global Respiratory Disease Testing Market, By End User:
    • Hospitals
    • Physician Offices
    • Clinical Laboratories
  • Global Respiratory Disease Testing Market, By Region:
    • North America
      • By Test Type:
        • Imaging Test
        • Spirometry
        • Peak Flow Test
        • Blood Gas Test
        • Lung Volume Test
        • Others
      • By End-User
        • Hospitals
        • Physician Offices
        • Clinical Laboratories
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Test Type:
      • By End-User
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Test Type:
      • By End-User
      • By Country
        • U.K.
        • Germany
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Test Type:
      • By End-User
      • By Country
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Test Type:
      • By End-User
      • By Country
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • By Test Type:
      • By End-User
      • By Country
        • North Africa
        • Central Africa
        • South Africa
About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

To know more about us, please visit our website – www.coherentmarketinsights.com

Contact:

Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

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