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| Respiratory Disease Testing Market |
Respiratory disease testing helps in the diagnosis of various respiratory disorders such as chronic obstructive pulmonary disease (COPD), asthma, lung cancer, pneumonia, and tuberculosis among others. Testing involves procedures like complete blood count, arterial blood gas analysis, pulmonary function tests, imaging tests, and biomarker tests which help in early detection and management of respiratory diseases. The rising pollution levels, increase in cigarette smoking, aging population have contributed to the increase in respiratory diseases worldwide.
The global
respiratory disease testing market is estimated to be valued at US$ 12.7 billion in 2023 and is
expected to exhibit a CAGR of 4.0%
over the forecast period 2024 to 2031, as highlighted in a new report published
by Coherent Market Insights.
Market key trends:
The rising prevalence of respiratory diseases has been a major trend
accelerating the growth of the respiratory disease testing market. As per the
American Lung Association data, over 25 million Americans suffer from asthma
and approximately 15.7 million Americans are diagnosed with COPD. Besides aging
population and rising air pollution, factors like increasing healthcare
expenditure and availability of advanced diagnostic techniques have also
contributed to increased testing for early detection and improved respiratory
disease management. Furthermore, growing awareness regarding importance of
early screening and advances in molecular diagnostics, biomarkers, genetics,
and imaging technologies are poised to drive further innovation and growth in
respiratory disease testing solutions over the forecast period.
Segment Analysis:
The global respiratory disease testing market is segmented by disease type,
test type, end-user, and geography. By disease type, the market is segmented
into tuberculosis, asthma, chronic obstructive pulmonary disease (COPD), and
other respiratory diseases. Among these, the tuberculosis segment leads the
market and accounts for the largest share. Tuberculosis has impacted a large
population globally making its diagnostics crucial. This has contributed to the
segment's dominant position in the market.
Key Takeaways:
The global Respiratory
Disease Testing Market Growth is expected to witness high growth over the
forecast period of 2024 to 2031. The global respiratory disease testing market
is estimated to be valued at US$ 12.7 billion in 2023 and is expected to
exhibit a CAGR of 4.0% over the forecast period 2024 to 2031.
Regional analysis:
Asia Pacific region is projected to grow at the fastest rate due to high
disease prevalence and growing healthcare infrastructure. Countries like India,
China, and Japan are witnessing increased investments and initiatives to
promote effective diagnostic measures which is driving the regional market.
North America currently dominates the market due to advanced healthcare
facilities and widespread health awareness among people.
Key players:
Key players operating in the respiratory disease testing market are Thermo
Fisher Scientific Inc., bioMérieux SA, Abbott Laboratories, Bio-Rad
Laboratories, Inc., Hoffmann-La Roche Ltd., Danaher Corporation (Cepheid),
Becton, Dickinson and Company, Agilent Technologies, Inc., GE Healthcare, and
Seegene, Inc. Thermo Fisher Scientific Inc. and Hoffmann-La Roche Ltd. have
established robust product portfolios and global presence while companies like
Cepheid and Bio-Rad have expertise in specific respiratory disease tests.
For more insights, read- https://www.ukwebwire.com/respiratory-disease-testing-market-trends-size-and-share-analysis/
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