Market Size in 2021 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 7.2 Billion | USD 13.8 Billion | 7.5% | 2021 |
FrequentlyAsked Questions
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.
According to the report, the global 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.
The global respiratory diagnostics market growth is expected to be driven by North America. It is currently the world’s highest revenue-generating market owing to the growing geriatric populations at risk for respiratory disorders and rising rates of COPD, asthma, and other respiratory tract infections (RTI).
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 and BD, among others.
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