September 04, 2020
According to the research report titled ‘Respiratory Disease Testing Market Size By Test Type, By Application By End-use , Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global respiratory disease testing market is expected to grow significantly during 2020- 2026.
Rising prevalence of respiratory disorders including pulmonary fibrosis, lung cancer, chronic obstructive pulmonary disease, and asthma are fueling the growth of global respiratory disease testing market.
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For those uninitiated, respiratory diseases adversely affect respiratory organs such as lungs in the body and are caused by breathing radon and asbestos, air pollutants, passive or active smoking as well as other infections. Although such illnesses are developed genetically, harmful environmental exposures as well as unsafe workplace conditions can also lead to respiratory illnesses.
As per test type, the report states that imaging test segment is expected to witness substantial growth during the estimated timeframe. The unexpected outbreak of COVID-19 has augmented the demand for imaging modalities since they are widely used to detect patients suffering from coronavirus, thereby fueling the segmental share.
Based on application landscape, the tuberculosis segment is predicted to expand significantly during the estimated timeframe. The report claims that over 1.5 million deaths occur annually due to tuberculosis, particularly in emerging economies such as Cambodia, Congo, and South Africa.
Citing the end-use landscape, global respiratory disease testing market from hospital settings is slated to grow considerably in the forthcoming years. Patient preference towards hospitals in order to treat respiratory diseases owing to easy accessibility towards numerous imaging modalities is facilitating the business scenario.
Considering the geographical landscape, Asia-Pacific respiratory disease testing industry is estimated to generate lucrative revenues during the analysis timeframe. Increased pervasiveness of respiratory disorders, particularly in China and India, in tandem with favorable reimbursement policies for testing kits are driving the growth of Asia-Pacific market.
The key companies operating in global respiratory disease testing industry are Seegene Inc., SDI Diagnostic, bioMérieux, COSMED, CAREstream Medical Inc., Thermo Fisher Scientific Inc., Medtronic plc, Abbott Laboratories, Becton Dickinson & Co., ResMed, Fisher & Paykel and Koninklijke Philips N.V. among others.