North America to Dominate Respiratory Disease Testing Market through 2025

Increasing prevalence of respiratory diseases and technological advancements to drive the growth of global respiratory disease testing market

According to TechSci Research report, “Global Respiratory Disease Testing Market By Product and Service (Instruments & Devices, Assays & Reagents, Services & Software), By Test Type (Mechanical Tests, OSA Diagnostic Tests, Other Test Types, Imaging Tests, Others), By Disease (Tuberculosis, Asthma, Lung Cancer, Chronic Obstructive Pulmonary Disease, Other), By Purpose (Minute Ventilation, Peak Inspiratory flow, Others), By End User (Hospital/Clinical Laboratories, Reference Laboratories, Physician Offices, Other), By Region, Forecast & Opportunities, 2025”, global respiratory disease testing market is expected to witness significant CAGR during the forecast period. Growing geriatric population is one of the major factors accounting for the growth of global respiratory disease testing market. Moreover, technological advancements in respiratory diagnostic systems is expected to bode well for the growth of global respiratory disease testing market through the forecast period. In addition to this, increasing requirement for CT imaging, is anticipated to positively influence the growth of global respiratory disease testing market in the years to come. Also, rising awareness about the diagnostic procedures are making headway for the growth of global respiratory disease testing market. Along with this, increasing number of smokers and consumption of alcohol, is anticipated to contribute to the market growth during the next five years. However, there are some factors that can act as major impediments to the growth of global respiratory disease testing market through 2025 such as rising healthcare costs and reimbursement concerns.

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Global respiratory disease testing market can be segmented based on product and service, test type, disease, purpose, end user, company, and region. Considering the disease, the market is fragmented into tuberculosis, asthma, lung cancer, chronic obstructive pulmonary disease, other. The tuberculosis segment dominated the global respiratory disease testing market in terms of largest market share until 2019 and is further anticipated to maintain its dominance during the forecast period as well, which can be accredited to the increase in tobacco smoking across the globe. Moreover, growing air pollution levels in the atmosphere are anticipated to boost the growth of segment. In terms of end user, the market is fragmented into hospital/clinical laboratories, reference laboratories, physician offices and others. Out of these, the hospital/clinical laboratories segment is expected to grow at a high pace during the forecast period on account of fact that most of the respiratory disease diagnostics are carried out in hospitals as they are complex in nature and require technologically advanced products. This is a key factor augmenting the demand for respiratory disease testing market, globally.

Philips Healthcare, Becton, Dickinson & Company, Abbott Laboratories, Thermo Fisher Scientific Inc., Biomérieux, Alere Inc., Bio-Rad Laboratories, Inc., Cosmed, Seegene Inc, Sdi Diagnostics, Bosch Healthcare Solutions, ADI Instruments, Qiagen, Siemens Healthcare, Co-Diagnostics, Inc., are among others are the leading players operating in global respiratory disease testing market. The players are adopting several growth strategies to enhance the market scenario of respiratory disease testing. Other competitive strategies include product launches; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diverse their product portfolio in order to strengthen their market position.

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“North America is forecast to dominate the global respiratory disease testing market during the next five years on account of presence of an advanced healthcare system in the region. Furthermore, growing investments in healthcare are also contributing to the growing trend. Additionally, growing patient awareness about the availability of new diagnostic techniques for respiratory diseases is further anticipated to boost the market growth in region over the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Respiratory Disease Testing Market By Product and Service (Instruments & Devices, Assays & Reagents, Services & Software), By Test Type (Mechanical Tests, OSA Diagnostic Tests, Other Test Types, Imaging Tests, Others), By Disease (Tuberculosis, Asthma, Lung Cancer, Chronic Obstructive Pulmonary Disease, Other), By Purpose (Minute Ventilation, Peak Inspiratory flow, Others), By End User (Hospital/Clinical Laboratories, Reference Laboratories, Physician Offices, Other), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global respiratory disease testing market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global respiratory disease testing market.

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