Based on anatomical features, the respiratory system is segmented into upper respiratory tract and lower respiratory tract. The upper respiratory tract comprises pharynx, larynx, and nasal passages, while the lower respiratory tract includes trachea, lungs, and bronchi. Respiratory disease is a medical condition that affects the structure and organs associated with respiration or breathing. Equipment used to detect pulmonary abnormalities hold immense potential due to increasing prevalence of various respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and pneumonia. Moreover, growing geriatric population and technological advancements would drive the global respiratory disease testing market. However, low adoption rate of digital radiography and portable spirometers are projected to hold back the growth of respiratory disease testing market from 2014 to 2022. The global respiratory disease testing market was valued at USD 2,326.5 million in 2013 and is estimated to reach USD 3,143.3 million in 2022, expanding at a CAGR of 3.4% from 2014 to 2022.
Based on type of test, the global respiratory disease testing market has been segmented into imaging test, spirometry, peak flow test, blood gas test, lung volume test, and other tests. The imaging test segment accounted for the largest share of the global respiratory disease testing market. The dominance of the segment was primarily due to high demand for imaging tests, especially X-ray. In addition, these tests are considered the first-line of diagnostic tests for respiratory diseases.
Based on end-user, the global respiratory disease testing market has been segmented into hospitals, physician offices, and clinical laboratories. Hospitals was the largest end-user segment of the respiratory disease testing market in 2013. The segment dominated the market as most of the respiratory diagnostic instruments (imaging and lung function) especially X-ray machines are available in hospitals. Moreover, doctors prefer in-house diagnostic tests for their patients rather than outside laboratories.
North America was the largest market for respiratory disease testing in 2013. The dominance of the region was primarily due to increasing prevalence of respiratory diseases, rising popularity of portable devices, and growing demand for home health care devices and services. For instance, the Centers for Disease Control and Prevention (CDC) published in 2012 that around 18.7 million adults in the U.S. were suffering from asthma. The American Lung Association states that COPD is the third leading cause of death in the U.S.
Asia Pacific is characterized by emerging economies such as India, China, Indonesia, Malaysia, Korea, Singapore, and Thailand that offer vast opportunities in the health care sector. The respiratory disease testing market in Asia Pacific offers large opportunities and is projected to expand at the highest CAGR in the next few years. This growth is mainly due to factors such as untapped opportunities, improving health care infrastructure, and increasing awareness about the available diagnostic procedures. Latin America includes countries in Central and South America such as Mexico, Brazil, Argentina, Venezuela, and Chile. The respiratory disease testing market in Latin America is projected to expand at a significant CAGR during the forecast period from 2014 to 2022. Improving health care scenario, rising prevalence of respiratory diseases, and growing investments by market players are the major factors fueling the growth of respiratory disease testing market in Latin America. Major players operating in the global respiratory disease testing market include CareFusion Corporation (MicroRPM), MGC Diagnostic Corporation (CPFS/D USB spirometer), ndd Medical Technologies, Inc. (EasyOne Pro LAB), GE Healthcare (Discovery XR656 Plus), and Nihon Kohden Corporation (Oxypal OLV-2700 Pulse Oximeter).
The global respiratory disease testing market is witnessing a surge in market valuation in the recent years. The rising frequency of respiratory diseases, triggered by the rapid increase in the global geriatric population, has given an impetus to the market in the past. This trend is also expected to boost the worldwide market for respiratory disease testing during the period from 2014 to 2022 significantly.
The global market for respiratory disease testing is broadly analyzed on the basis of the types of tests performed and the end-use industries. Spirometry tests, imaging tests, peak flow tests, lung volume tests, and blood gas tests are the major test segments of this market while hospitals, clinical laboratories, and physician offices are the primary end users.
Apart from this, the worldwide respiratory disease testing market is also evaluated on the basis of its regional distribution into North America, Latin America, Europe, Asia Pacific, the Middle East and North Africa, and the Rest of the World. The U.S. and Canada drive the respiratory disease testing market in North America. Brazil, Mexico, and the Rest of LATAM lead it in Latin America. The U.K., Germany, and the Rest of Europe are the main markets for respiratory disease testing in Europe. Asia Pacific is driven by the market in China, Japan, and Rest of APAC and the Middle East and North Africa is led by the UAE, Saudi Arabia, and the Rest of MENA.
This research report provides a comprehensive overview of the global market for respiratory disease testing and helps market participants in making significant strategies and crucial decisions for the further development of their businesses.
Overview of the Respiratory Disease Testing Market
The global market for respiratory disease testing has been continuously showing an impressive rise. In 2013, it stood at a US$2.3 bn. Analysts estimate it to expand at a CAGR of 3.40% during the period from 2014 to 2022 and reach a value of US$3.1 bn by the end of the forecast period.
Among the tests markets, the imaging tests segment led the worldwide market for respiratory disease testing in 2013 owing to the extensive uptake of imaging measures, specifically X-ray. However, the market for spirometry tests is expected to report the highest CAGR over the forecast period. The efficiency of these tests, enhancing the precision in results are projected to boost this market segment in the coming years.
Among end users, the hospital segment emerged as the market leader in 2013 and is likely to maintain its position in the near future.
Among regional markets, North America led the global respiratory disease testing market in 2013. On the other hand, the Asia Pacific respiratory disease testing market is anticipated to exhibit the highest CAGR over the forecast period.
The worldwide market for respiratory disease testing exhibits a positive growth. However, the low adoption rate of advanced spirometers as well as the digital radiography systems is likely to hamper the growth of this market over the next few years.
Companies mentioned in the research report
CareFusion Corp., COSMED, Carestream Health Inc., Futuremed America Inc., MGC Diagnostics Corp., GE Healthcare, ndd Medical Technologies Inc., Perkin Elmer Inc., NIHON KOHDEN Corp., Philips Healthcare, Siemens Healthcare, SDI Diagnostics, and Smiths Medical are the major players operating in the global respiratory disease testing market.
Key segments of the Respiratory Disease Testing Market
- Imaging Tests
- Spirometry Tests
- Peak Flow Tests
- Blood Gas Tests
- Lung Volume Tests
- Other Tests
By End User
- Physician Offices
- Clinical Laboratories
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments