Respiratory Diagnostics Market Size
Market Overview
Respiratory diagnosis refers to the clinical examination of lung function and associated processes. It encompasses a variety of mechanical, radiological, and molecular diagnostic tests for the detection of asthma, COPD, lung cancer, bronchitis, and pulmonary fibrosis. It uses methods such as Spirometry, oximetry, transcutaneous CO2 monitoring, sniff nasal inspiratory pressure (SNIP), chest X-ray, and computed tomography (CT) scan. Sleep studies are used to identify and analyze the occurrence of sleep apnea and nocturnal hypoventilation in some cases. The global market for respiratory diagnostics has a lot of room for expansion. In the near future, the entry of new companies in the market is anticipated to heighten competition. To keep ahead of the competition, leading companies are likely to focus on product innovation and technical developments.
Respiratory Diagnostics Market: Key Players
- Philips Healthcare
- Abbott Laboratories
- Biomerieux
- Becton Dickinson
- Thermo Fisher Scientific
- Alere Inc.
- Seegene Inc.
- 3M
- Bio-Rad Laboratories
- SDI Diagnostics
- COSMED
- Masimo Corporation
Growth Factor
Growing occurrence of respiratory diseases
COPD and other serious respiratory illnesses, such as lung cancer, are on the rise due to an increase in smokers and alcohol intake, as well as sedentary living habits and stressful routines. Furthermore, several technical advancements in respiratory diagnostic tests, such as the use of the Internet of Things (IoT) and Artificial Intelligence (AI) for COPD diagnosis and outpatient care, are boosting market expansion. The market for respiratory diagnostics is also being driven by an increase in demand for respiratory diagnostics devices in various privately-owned hospitals and healthcare centers, as well as efforts by both government and non-governmental organizations (NGO) to make quality healthcare facilities available to all.
Technological Advancements
The market is being driven by technological advancements and innovation in the respiratory diagnostic system. The use of cutting-edge technologies such as monitoring systems and electronic inhalers is helping to drive growth. Furthermore, rising treatment awareness in both developed and developing nations is adding to the market's growth throughout the forecast period.
Segmentation
- By Product and Service Type:
- Instruments and Services
- Assays and Reagents
- Services and Software
- By Test Type:
- Mechanical Tests
- Obstructive Sleep Apnoea (OSA) Diagnostic Tests
- Imaging Tests
- Traditional Diagnostic Tests
- Molecular Diagnostic Tests
- Others
- By Disease:
- Tuberculosis
- Asthma
- Chronic Obstructive Pulmonary Disease (COPD)
- Lung Cancer
- Others
- By End-User:
- Hospitals
- Clinics
- Reference and Clinical Laboratories
- Others
- Respiratory Diagnostics Market Dynamics
- Respiratory Diagnostics Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Recent News Related to Market
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In June 2020, GE Healthcare announced the Thoracic Care Suite which includes eight artificial intelligence (AI) algorithms that allow chest X-rays to detect anomalies, such as pneumonia, a symptom linked to COVID-19. This new product, introduced by the firm during the expansion of COVID-19, has increased the firm's market reputation.
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In May 2020, Philips and Masimo formed a cooperation. This collaboration sought to integrate Masimo's measuring technology into certain Intellivue MX-Series multi-parameter monitors, allowing doctors to analyse ventilation status and cerebral oximetry more easily.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
- COVID-19 pre and post business impact analysis
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- What is the Respiratory Diagnostics Market growth?
- Which segment accounted for the largest Respiratory Diagnostics Market share?
- Who are the key players in the Respiratory Diagnostics Market?
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Note: Although care has been taken to maintain the highest levels of accuracy in Fatpos Global’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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