Respiratory Diagnostics Market worth 7.45 Billion USD by 2021
The report “Respiratory Diagnostics Market – Product & Service (Instruments/Devices, Kits/Reagents), Test Type (Pulmonary Function Test, Imaging Test), Disease (TB, Lung Cancer, COPD), End User (Reference Laboratories, Physician Offices) – Global Forecast to 2021”, provides a detailed overview of major drivers, restraints, challenges, opportunities, current market trends and strategies impacting the global market along with estimates and forecast of revenue.
Browse 83 market data tables and 39 figures spread through 144 pages and in-depth TOC on “Respiratory Diagnostics Market – Product & Service (Instruments/Devices, Kits/Reagents), Test Type (Pulmonary Function Test, Imaging Test), Disease (TB, Lung Cancer, COPD), End User (Reference Laboratories, Physician Offices) – Global Forecast to 2021”
Early buyers will receive 10% customization on reports.
The global respiratory diagnostics market is projected to reach USD 7.45 Billion by 2021 from USD 5.24 Billion in 2016, at a CAGR of 7.3% from 2016 to 2021.
Major factors driving the market growth are increasing prevalence of respiratory diseases, growing geriatric population, and technological advancements in respiratory diagnostic systems. On the other hand, rising healthcare costs and reimbursement concerns are the major factors restraining the growth of the respiratory diagnostics market. High potential emerging markets such as Japan, China, India, South Korea, Taiwan, Australia, and Singapore offer significant growth opportunities for the key players in the respiratory diagnostics market.
The global respiratory diagnostics market is segmented on the basis of product and service, test type, disease, end user, and region. On the basis of product and service, the respiratory diagnostics market is segmented into instruments and devices, assays and reagents, and software and services. The instruments and devices segment is expected to account for the largest share of the respiratory diagnostics market in 2016. The continuous requirement of diagnostic instruments and devices in laboratories, point-of-care, and home care is a major factor driving the uptake of instruments and devices.
On the basis of test type, the respiratory diagnostics market is broadly classified into mechanical tests, imaging tests, traditional diagnostic tests, and molecular diagnostic tests. In 2016, the traditional diagnostic tests segment is expected to account for the largest share of the respiratory diagnostics market. The large share of this segment is primarily attributed to the quick turnaround time of these tests.
On the basis of disease, the respiratory diagnostics market is segmented into asthma, chronic obstructive pulmonary disease, lung cancer, tuberculosis, and other diseases. The tuberculosis segment is expected to account for the largest share of the respiratory diagnostics market in 2016. The large share of this segment is primarily attributed to the increase in tobacco smoking and growing air pollution levels.
On the basis of end user, the respiratory diagnostics market is categorized into hospital/clinical laboratories, reference laboratories, physician offices, and other end users (including blood banks, point-of-care testing, patient self-testing, home health agencies, nursing homes, and local public health laboratories). In 2016, the hospital/clinical laboratories segment is expected to account for the largest share of the global respiratory diagnostics market. Most respiratory disease diagnostics are carried out in hospitals as they are complex in nature and require technologically advanced devices; this is driving the respiratory diagnostics market for hospital/clinical laboratories.
North America is expected to account for the largest share of the global respiratory diagnostics market in 2016, followed by Europe. The growth of the respiratory diagnostics market in North America is majorly driven by the rising prevalence of respiratory diseases and growing geriatric population in the region. Other factors supporting the growth of this market include the presence of an advanced healthcare system and strong distribution channels for respiratory diagnostic products in North America.
The respiratory diagnostics market is dominated by established players such as Philips Healthcare (Netherlands), Becton, Dickinson and Company (U.S.), Abbott Laboratories (U.S.), Thermo Fisher Scientific Inc. (U.S.), and Alere, Inc. (U.S.).
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Mr. Sanjay Gupta
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India