Respiratory Disease Testing Market by Top Key Players, Size, Subdivision & Market Dynamics Forces

The respiratory system is divided into two parts; upper respiratory tract and lower respiratory tract. The upper respiratory tract includes pharynx, larynx and nasal passages, while the lower respiratory tract includes trachea, lungs and bronchi. Respiratory Disease Testing is carried out for diagnosis of respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis and pneumonia. Increasing product approvals, increasing prevalence of respiratory disorders in developed and developing economies along with increasing technological advancements in product development.

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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.

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.

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 Disease’s 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.

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.

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 Prevention’s clinical criteria for COVID-19 testing.

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.

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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