Respiratory Disease Testing/Diagnostics Market size in 2019 is estimated to be $5.9 billion, growing at a CAGR of 5% during the forecast period 2020-2025. Respiratory disease is the disease that affects the lungs and respiratory system. It is caused by infection, smoking tobacco, or air pollution. Asthma, chronic obstructive pulmonary disease (COPD), and lung cancer are some of the major respiratory diseases. The growing geriatric population with respiratory disorders and technological advancement in respiratory diagnostic testing are the major factors driving the growth of the market. Moreover, increasing prevalence of respiratory disease linked to increased rates of tobacco smoking is set to further influence the overall market growth for respiratory disease testing/diagnostics.
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By Test Type – Segment Analysis
Based on the test type, the Respiratory Disease Testing/Diagnostics market is segmented into Mechanical Test, Imaging Test, Traditional Diagnostics Test, and In-Vitro Diagnostics Test. The Imaging Test is forecast to be the fastest-growing segment and is estimated to grow at a CAGR of 4.8% during the forecast period 2020-2025. This is mainly owing to the rapid development and adoption of innovative technologies. Moreover, it provides a better diagnosis at affordable health care expenses and is safe as well as effective. The common tests are the spirometry test that is to measure lung function, the methacholine challenge test to help detect asthma, and computed tomography that provides an image of the chest.
By End-Use – Segment Analysis
Based on the End-Use, Respiratory Disease Testing/Diagnosis market is segmented into clinical laboratories, hospitals, physician clinics, diagnostic centers, Ambulatory Surgical Centers, Home Care Facilities and others. In 2019, Hospitals held the largest share in the respiratory disease testing/diagnostics market. This is mainly owing to rising demand for efficient and effective results, shorter recovery time. Moreover, the availability of advanced technology and experienced doctors in hospitals is contributing to the growth of this segment.
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By Geography – Segment Analysis
North America dominated the health and hygiene market share accounting for 36% of the market in 2019. This is mainly owing to the growing prevalence of respiratory diseases such as asthma, and chronic obstructive pulmonary diseases here. According to World Health Organization, an estimated 65 million people have moderate to severe chronic obstructive pulmonary disease and about 334 million people suffer from asthma, which is the most common chronic disease of childhood that affects 14% of children in North America. Also, the healthcare facilities and technological advances in North America further enhance the dominance of this region.
However, the Asia Pacific region is anticipated to be the fastest-growing during the forecast period 2020-2025. This is mainly owing to improving healthcare infrastructure and rising patient awareness regarding the availability of diagnostic procedures.
Drivers –Respiratory Disease Testing/Diagnostics Market
- Rise in Geriatric Population
The rise in geriatric population across the globe is a major factor in the growth of respiratory disease testing/diagnostics market. According to the World Health Organization, 8.7 million people suffering from TB across the globe, and 50 million people fight with occupational lung disease. The chronic obstructive pulmonary disease has become the third leading cause of death worldwide. Moreover, the growing number of people suffering from chronic diseases such as asthma, pneumonia are contributing to the growth of the market.
- Technological Advancements
Technological Advancements and innovation in the respiratory diagnostic system are driving the growth of the market. Adoption of the latest innovation such as monitoring technology, and electronic inhalers are contributing to the growth. Moreover, increasing awareness towards treatment in both developed and developing countries are also contributing to the growth of this market during the forecast period 2020-2025.
Challenges – Respiratory Disease Testing/Diagnostics Market
The high cost associated with diagnosis and testing creates a hurdle for the growth of the market. Moreover, strict regulatory requirements and reimbursement concerns are also restraining the growth of the market. Also, the increased cost associated with diagnostic testing equipment and testing procedures is also restraining the market growth.
- In 2019, North America dominated the respiratory disease testing/diagnostics market owing to the growing prevalence of respiratory diseases such as asthma, chronic obstructive pulmonary disease, and technological advancement in respiratory diagnostic system.
- The growing geriatric population and technological advancement are likely to aid in the market growth of respiratory disease testing/diagnostics.
- Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market are provided in the Respiratory Disease Testing/Diagnostics Market report.
- The high cost associated with diagnosis and testing creates a hurdle for the growth of the market.
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