Global Respiratory Diagnostics Market Is Predicted to Grow Around USD 13.8 Bn By 2030

The global respiratory diagnostics market size was worth around USD 7.2 billion in 2021 and is predicted to grow to around USD 13.8 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.5% between 2022 and 2030.

There may have been cases of respiratory illnesses in people from all over the world. If respiratory illnesses are not correctly detected, death could follow. Asthma, acute respiratory infections, chronic obstructive pulmonary disease, and others are respiratory conditions that are frequently present. Radiographic methods have a significant role in the diagnosis of respiratory conditions. Respiratory diagnostics identify the respiratory disorders that should be of the most concern and offer treatments to fend off their hazards.

The rise in respiratory disease cases, the aging population, and technological improvement are the main drivers of market growth. Growing government funding for R&D and development in the healthcare industry is one of the potential drivers of market expansion. The growth of the global respiratory diagnostics market is also attributed to developed medical facilities with cutting-edge equipment.

The market is benefiting from the changing environment and growing population. However, a big population with misdiagnosed and undertreated conditions, a lack of awareness, and growing worries about the expense of healthcare are issues that limit the respiratory diagnostics industry expansion.

The global respiratory diagnostics market is segmented based on product & services, test type, disease, end-user, and region.

Based on the product & services, the global market is bifurcated into instruments and devices, assays and reagents, and services and software. The instruments and devices segment accounted for the largest market share in 2021 and is expected to show its dominance during the forecast period. The growth in the segment is due to its widespread use in the healthcare sector to diagnose patients' respiratory conditions. Modern technology assesses ailments and performs the necessary therapeutic operations.

Based on the test type, the respiratory diagnostics industry is bifurcated into the mechanical test, imaging test, traditional diagnostics test, and in-vitro diagnostics test. The in-vitro diagnostics test is expected to dominate the market over the forecast period.

The transition from conventional diagnostics to advanced diagnostics is the main driver of segment growth. The increased usage of point-of-care (POC) diagnostics for respiratory disease diagnosis and the rising prevalence of respiratory diseases are additional elements that are projected to have a significant impact on the segment's growth throughout the forecast period. Medical equipment and supplies are used in in vitro diagnostics (IVD) to carry out tests on diverse biological samples. They are employed in the diagnosis of a variety of illnesses, including respiratory illnesses and infections of the respiratory tract.

According to the February 2022 article "Advances in the Rapid Diagnostic of Viral Respiratory Tract Infections," the prevalence of respiratory tract infections (RTI) is rising globally, increasing the demand for disease diagnostics. Thus, driving the segment growth.

Based on the disease, the global respiratory diagnostics market is divided into tuberculosis, asthma, chronic obstructive pulmonary disease (COPD), lung cancer, and others.

The tuberculosis segment holds a significant market share over the forecast period. This is due to a greater government emphasis on and investment in R&D for the creation of diagnostics. The WHO estimates that 10 million individuals worldwide had TB in 2020 and that 30 countries with a high disease burden reported 86% of all new cases.

The Philippines, India, China, Nigeria, Bangladesh, South Africa, and Pakistan accounted for two-thirds of all new cases. Growth in this market is anticipated to be fueled by the rising number of launches of highly sensitive and adaptable molecular tests for the diagnosis of TB. For instance, QIAGEN introduced the CE-IVD-certified QuantiFERON & QlAreach test in October 2021. This test can detect tuberculosis (TB) in 20 minutes with a one-day patient visit. Such test launches speed up disease diagnosis and assist in meeting patients' unmet diagnosis needs in low-income and developing nations.

Based on the end user, the global market is segmented into clinical laboratories, hospitals, physician clinics, diagnostic centers, ambulatory surgical centers, home care facilities, and others.

North America has generated a large demand for respiratory diagnostics across the world owing to rapid growth in the geriatric population and the rising prevalence of respiratory diseases. Europe is another potential market that is growing at a fast rate due to the presence of a developed healthcare system.

In addition, availability of the good distribution channels for respiratory diagnostic products in this region is expected to propel the global respiratory diagnostics market growth. Other developing countries such as Australia, South Korea, China, Taiwan, and India are witnessing lucrative growth opportunities. Increasing investments in the healthcare industry, growth in the geriatric population, and growing per capita income are key factors responsible for the market growth in the Asia-Pacific region. The expansion of private-sector hospitals in rural areas is also a factor that has contributed to the market growth in this region.

This review is based on a report by Zion Market Research, titled “Respiratory Diagnostics Market By Product & Services (Instruments and Devices, Assays and Reagents and Services and Software), By Test Type (Mechanical Test, Imaging Test, Traditional Diagnostics Test, and In-Vitro Diagnostics Test), By Disease (Tuberculosis, Asthma, Chronic Obstructive Pulmonary Disease (COPD), Lung Cancer, and Others), By End-User (Clinical Laboratories, Hospitals, Physician Clinics, Diagnostic Centers, Ambulatory Surgical Centers, Home Care Facilities, and Others) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/respiratory-diagnostics-market

Recent Development:

In January 2022, a research collaboration between Highmark Health and Bosch is looking into the use of cutting-edge sensor technologies and artificial intelligence (AI) to identify juvenile pulmonary disorders including asthma. The partnership expands on an established method in healthcare.

The global respiratory diagnostics market is dominated by players like:

• Koninklijke Philips N.V.
• GENERAL ELECTRIC COMPANY
• Medtronic
• COSMED srl
• NIHON KOHDEN CORPORATION
• F. Hoffmann-La Roche Ltd
• Drägerwerk AG & Co. KGaA
• GC Diagnostics Corporation
• Bio-Rad Laboratories Inc.
• Masimo
• bioMérieux SA
• Carestream Health
• Novartis AG
• Thermo Fisher Scientific Inc.
• Abbott
• Johnson & Johnson Services Inc
• GlaxoSmithKline plc
• Bayer AG 
• BD

The global respiratory diagnostics market is segmented as follows:

By Product & Services

• Instruments and Devices
• Assays and Reagents
• Services and Software

By Test Type

• Mechanical Test
• Imaging Test
• Traditional Diagnostics Test
• In-Vitro Diagnostics Test

By Disease

• Tuberculosis
• Asthma
• Chronic Obstructive Pulmonary Disease (COPD)
• Lung Cancer
• Others

By End User

• Clinical Laboratories
• Hospitals
• Physician Clinics
• Diagnostic Centers
• Ambulatory Surgical Centers
• Home Care Facilities
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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