Global Respiratory Diagnostics Market Estimated to Grow at a CAGR of 7.00% During the Forecast Period From 2020 To 2025 – Axiom MRC

The key players operating global respiratory diagnostics market globally are Philips Healthcare, Becton, Dickinson & Company, Abbott Laboratories, Thermo Fisher Scientific Inc., Biomérieux, Alere Inc., Bio-Rad Laboratories, Inc., Cosmed, Seegene Inc., SDI Diagnostics, Koninklijke Philips N.V.(Respironics), ResMed Company, Fischer & Paykel, Medtronic, MGC Diagnostics Corporation and Subsidiaries, CAREstream Medical Ltd and others.

New York, August 01, 2019: Axiom Market Research & Consulting™ added a report on global respiratory diagnostics market which includes study on various products and service, test types, disease, end user and geography. The global respiratory diagnostics market is projected to grow at a CAGR 7.00% for the forecast period 2019 to 2025. The global market is estimated and forecasted in terms of revenue (USD Million).

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The product and services studied in this vertical includes instruments & devices, assays & reagents and services & software. These products are used conduct different diagnostic test such as mechanical tests, imaging tests, traditional diagnostic tests, and molecular diagnostic tests conducted for diagnosis of various respiratory diseases such as asthma, chronic obstructive pulmonary disease, lung cancer, tuberculosis, acute respiratory infection and other diseases. The major end users of the market are hospital/clinical laboratories, reference laboratories, physician offices and other end users.

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The global respiratory diagnostics market is thriving at a noteworthy rate, majorly driven by the rising prevalence of respiratory diseases due to changing lifestyles, high prevalence of tobacco smoking coupled with increasing urbanization and growing pollution levels. As reported by WHO, approximately 65 million people suffer from chronic obstructive pulmonary disease (COPD) and it leads to approximately 3 million deaths annually, making it the third leading cause of death worldwide. Moreover, technological advancement in respiratory diagnostic testing and growing geriatric populace are also expected to drive the market growth.

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The respiratory diagnostics market is characterized by the presence of intense competition among the leading manufacturers of respiratory disease testing devices. Manufacturers that have the ability to provide cost-effective, high-end products without compromising on quality are anticipated to achieve maximum prominence during the forecast period.

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