Respiratory Disease Testing Market Size, Growth Trends, Top Players, Application Potential and Forecast to 2032
Global Market Insights adds a new report Global Respiratory Disease Testing Market Research Report for the period of 2023-2032 that shows the growth of the market is rising at a Steady CAGR to 2032.
Respiratory disease testing market is anticipated to register substantial revenue gains through 2032, owing to high exposure to dust particles coupled with the growing number of cigarette smokers in underdeveloped and developing economies. As per WHO, there are nearly 300 million smokers in China, which accounts for around one-third of the total number of smokers globally. The remarkable rise in the number of smokers has increased the burden of respiratory diseases in these economies, further augmenting the need for respiratory disease testing.
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On the basis of the test, the respiratory disease testing market from the imaging tests segment is expected to garner significant gains through 2032, owing to advancements in imaging technologies. In fact, recent developments in computed tomography imaging have made it possible to visualize structural derangements and anatomic localization of COPD.
Moreover, many industry players are putting consolidated efforts into new product innovations, which will also favor segment growth. For instance, in November 2022, CAREstream Health, a global leader in imaging technology, unveiled new digital x-ay detectors which will help better acquire images of anatomical structures for enhanced clinical outcomes.
In terms of application, the respiratory disease testing industry from the chronic obstructive pulmonary disease (COPD) segment is poised to record a valuation of over USD 10 billion by 2032. The surging occurrence of COPD owing to rising air pollution levels, unhealthy diets, the growing geriatric population, and others has bolstered the need for respiratory disease testing. As per CDC, COPD affects over 15 million Americans and over 150,000 Americans die of the disease every year.
Based on the distribution channel, the respiratory disease testing industry from the clinics segment is poised to grow at a considerable CAGR from 2023 to 2032. The rising preference for cost-effective and advanced respiratory testing equipment has increased patient footfall in clinics. Moreover, these facilities also have a high availability of skilled healthcare
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professionals, making them a preferred healthcare provider for the diagnosis and treatment of respiratory disorders.
Regionally speaking, Europe respiratory disease testing market is slated to grow at over 6.5% CAGR from 2023 to 2032, owing to the strong presence of key industry giants such as Siemens Healthineers, Koninklijke Philips N.V., among others who are constantly indulged in new product innovations. In fact, in July 2022, Siemens Healthineers, a German medical device manufacturer, announced the launch of Mobilett Impact, a mobile X-ray system that can perform lung examinations at a patient's bedside.
PartialTableofContents(ToC)ofthereport:
Chapter3 RespiratoryDiseaseTestingIndustryInsights
3.1 Industry landscape, 2018 – 2032
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing government initiatives in developed and developing countries
3.2.1.2 Rising prevalence of chronic obstructive pulmonary disease (COPD)
3.2.1.3 Increasing healthcare spending by public and private organizations
3.2.1.4 Exposure to dust particles and increasing number of cigarette smokers in developing as well as underdeveloped regions
3.2.2 Industry pitfalls & challenges
3.2.2.1 High cost of respiratory disease testing devices
3.2.2.2 Unfavorable reimbursement scenario
3.3 Growth potential analysis
3.3.1 By test type
3.3.2 By application
3.3.3 By end-use
3.4 COVID-19 impact analysis
3.5 Technological landscape
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3.6 Regulatory Landscape
3.6.1 U.S.
3.6.2 Europe
3.7 Porter’s analysis
3.8 PESTEL analysis
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