Respiratory Disease Testing Market 2020 By Revenue, Top Trend & Regional Growth Forecast
Category: #healthcare  By Ronak Bora  Date: 2021-03-15
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Respiratory Disease Testing Market 2020 By Revenue, Top Trend & Regional Growth Forecast

Respiratory Disease Testing Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Respiratory disease testing market growth would be driven by the growing prevalence of respiratory diseases such as tuberculosis, asthma, chronic obstructive pulmonary disease and COVID-19, among others. With the outbreak of COVID 19 pandemic, the current respiratory disease testing capacity had increased about 150% globally by March 2020. Incorporation of AI with imaging modalities for rapid and effective respiratory disease diagnosis may favor industry outlook in the coming years. Estimates suggests that respiratory disease testing market size will exceed USD 18.2 billion in terms of annual valuation globally by 2026.

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Respiratory diseases are the ailments affecting lungs as well as other parts of the respiratory system, some of them being,  are asthma, chronic obstructive pulmonary disease, pneumonia, lung cancer and pulmonary fibrosis. The major factors leading to respiratory diseases are infections, smoking tobacco, second-hand tobacco smoke, radon, asbestos and other air pollutants.

Imaging test segment is likely to mark a notable growth on account of accelerating demand for imaging modalities due to the worldwide outbreak of novel coronavirus. These have proven to be extremely useful for identifying new cases of COVID-19, which will propel the respiratory disease testing industry growth. For instance, in Spain, chest X-ray was the first imaging method for the diagnosis of corona infection.

Moreover, rising incidences of lung cancer is also impelling the demand for imaging testing methods. According to the data released by WHO, 2018 recorded nearly 2.09 million cases of lung cancer worldwide.. Imaging test is very crucial for the diagnosis of lung cancer and also used during the treatment and after the treatment for getting the pictures of the organs. The most popular techniques are CT scan, X-Ray, PET and MRI.

Tuberculosis segment is expected to register a commendable growth over the forthcoming years owing to increasing prevalence across the developing economies such as Cambodia, South Africa, Congo, etc.

Several industry players operational in the market are focused on developing technologically advanced solutions for tuberculosis testing in order to strengthen their foothold in the market. For instance, in 2019, Qiagen, one of the eminent names in the industry, announced the launch of a new solution QuantiFERON®-TB Access for diagnosis of latent tuberculosis prevailing in countries in Asia, Latin America and Africa having lower resources and higher burden of the disease. Reportedly, this product helped the company gain recognition from the Joint United Nations Programme on HIV/AIDS (UNAIDS).

Hospitals segment is estimated to witness a remarkable growth attributing to the availability of several imaging modalities with various mechanical tests. Further, medical tie-ups with hospitals will also contribute to the market growth.

Speaking of medical tie-ups, in 2020, a prominent medical device manufacturer in India- Omron Healthcare announced its collaboration with leading pharmaceutical company Lupin to develop facilities for respiratory disease management particularly for asthma and chronic obstructive pulmonary disease.  Apparently, through this collaboration, the two companies are planning to set up nebulization rooms in several hospitals offering screening, diagnosis, drug delivery, advanced devices, etc., under single facility.

Asia Pacific respiratory disease testing market is projected to register a substantial growth over the coming years owing to rising prevalence of respiratory disorders along with the introduction of favorable reimbursement policies in the region. Considering these growth attributes, China and India are expected to record maximum remunerations in the region.

Considering the daunting situation owing to   COVID-19 outbreak, countries around the world are demanding test kits for diagnosis of corona infection. India depicting third largest number of novel coronavirus cases in the world has urged the need for testing kits. Reportedly, the Indian Council of Medical Research (ICMR) has called for the quotations from manufacturers of kits for testing COVID-19 in order to expand coronavirus diagnostics in the country. 

Browse full table of contents (TOC) of this report @  https://www.decresearch.com/toc/detail/respiratory-disease-testing-market

Partial Chapter of the Table of Content 

Chapter 5.    Global Respiratory Disease Testing Market, By Application

5.1. Key segment trends

5.2. Chronic obstructive pulmonary disease

5.2.1.    Market size, by region, 2015-2026 (USD Million)

5.3. Lung cancer

5.3.1.    Market size, by region, 2015-2026 (USD Million)

5.4. Asthma

5.4.1.    Market size, by region, 2015-2026 (USD Million)

5.5. Tuberculosis

5.5.1.    Market size, by region, 2015-2026 (USD Million

5.6. Others

5.6.1.    Market size, by region, 2015-2026 (USD Million)

Chapter 6.    Global Respiratory Disease Testing Market, By End-use

6.1. Key segment trends

6.2. Diagnostic centers

6.2.1.    Market size, by region, 2015-2026 (USD Million)

6.3. Hospitals

6.3.1.    Market size, by region, 2015-2026 (USD Million)

6.4. Clinics

6.4.1.    Market size, by region, 2015-2026 (USD Million)

6.5. Others

6.5.1.    Market size, by region, 2015-2026 (USD Million)

 

About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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