Respiratory Disease Testing Market Set to Surge Significantly by 2022

Based on anatomical features, the respiratory system is 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. Respiratory disease is a medical condition that affects the structure and organs associated with respiration or breathing. 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. However, low adoption rate of digital radiography and portable spirometers are projected to hold back the growth of respiratory disease testing market from 2014 to 2022. The global respiratory disease testing market was valued at USD 2,326.5 million in 2013 and is estimated to reach USD 3,143.3 million in 2022, expanding at a CAGR of 3.4% from 2014 to 2022.

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Based on type of test, the global respiratory disease testing market has been segmented into imaging test, spirometry, peak flow test, blood gas test, lung volume test, and other tests. The imaging test segment accounted for the largest share of the global respiratory disease testing market. The dominance of the segment was primarily due to high demand for imaging tests, especially X-ray. In addition, these tests are considered the first-line of diagnostic tests for respiratory diseases.

Based on end-user, the global respiratory disease testing market has been segmented into hospitals, physician offices, and clinical laboratories. Hospitals was the largest end-user segment of the respiratory disease testing market in 2013. The segment dominated the market as most of the respiratory diagnostic instruments (imaging and lung function) especially X-ray machines are available in hospitals. Moreover, doctors prefer in-house diagnostic tests for their patients rather than outside laboratories.

North America was the largest market for respiratory disease testing in 2013. The dominance of the region was primarily due to increasing prevalence of respiratory diseases, rising popularity of portable devices, and growing demand for home health care devices and services. For instance, the Centers for Disease Control and Prevention (CDC) published in 2012 that around 18.7 million adults in the U.S. were suffering from asthma. The American Lung Association states that COPD is the third leading cause of death in the U.S.

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Asia Pacific is characterized by emerging economies such as India, China, Indonesia, Malaysia, Korea, Singapore, and Thailand that offer vast opportunities in the health care sector. The respiratory disease testing market in Asia Pacific offers large opportunities and is projected to expand at the highest CAGR in the next few years. This growth is mainly due to factors such as untapped opportunities, improving health care infrastructure, and increasing awareness about the available diagnostic procedures. Latin America includes countries in Central and South America such as Mexico, Brazil, Argentina, Venezuela, and Chile. The respiratory disease testing market in Latin America is projected to expand at a significant CAGR during the forecast period from 2014 to 2022. Improving health care scenario, rising prevalence of respiratory diseases, and growing investments by market players are the major factors fueling the growth of respiratory disease testing market in Latin America. Major players operating in the global respiratory disease testing market include CareFusion Corporation (MicroRPM), MGC Diagnostic Corporation (CPFS/D USB spirometer), ndd Medical Technologies, Inc. (EasyOne Pro LAB), GE Healthcare (Discovery XR656 Plus), and Nihon Kohden Corporation (Oxypal OLV-2700 Pulse Oximeter).

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