A new Transparency Market Research report states that the global respiratory disease testing market stood at US$2.32 bn in 2013 and is anticipated to reach US$3.14 bn by 2022, by expanding at a CAGR of 3.40% from 2014 to 2022. The title of the report is “Respiratory Disease Testing Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022.”
The respiratory system plays a key role in the delivery of oxygen to the body and also removes carbon dioxide waste from the body. In addition, the system also eliminates toxic waste, stabilizes blood-alkaline balance (pH), and regulates temperature. Respiratory diseases inhibit this normal functioning of the respiratory system and may occur as a result of causes such as the inhalation of dangerous agents, smoking, and unhealthy lifestyles. A number of genetic factors, infections, and other factors impacting the development of the lungs, either indirectly or directly may also cause respiratory ailments.
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As per the report, the rising aging population raises the utilization of respiratory disease testing products, thus having a positive impact on the growth of the market. In addition, the increasing occurrence of respiratory diseases such as pneumonia, chronic obstructive pulmonary disease (COPD), asthma, and cystic fibrosis also propels the growth of the market for respiratory disease testing. Furthermore, the rising technological developments will also have a positive impact on the development of this market. On the other hand, the report states that the decreasing adoption of advanced spirometers and digital radiography systems is a key factor impeding the growth of the market.
In terms of test, the respiratory disease testing market is segmented into spirometry tests, imaging tests, blood gas tests, peak flow tests, lung volume tests, and other tests. Amongst these, the segment of imaging tests led the market in 2013. The reason for the dominance of this segment is the increasing demand for imaging tests such as X-rays, etc. Additionally, imaging tests have also emerged as the first-line diagnostic tests for a number of respiratory diseases.
By end use, the respiratory disease testing market is segmented into physician offices, clinical laboratories, and hospitals. Amongst these, hospitals constituted the largest share in the market for respiratory disease testing in 2013. The reason for the dominance of this segment is the wide-ranging use of respiratory diagnostic instruments, particularly X-ray machines, within this segment. Furthermore, doctors globally have shown a high preference for in-house diagnostic tests for patients rather than relying on outside laboratory tests, thus resulting in an increased dominance of hospitals globally.
On the basis of geography, the report segments the market into North America, Europe, Asia Pacific, and Rest of the World (RoW). Amongst these, North America constituted the largest share in the market in 2013. This is owing to the rising occurrence of respiratory diseases and the increasing demand for home healthcare services and devices here. On the other hand, the Asia Pacific respiratory disease testing market is predicted to rise at the swiftest growth rate in the coming years.
As per the report, the chief players operating in the market are COSMED, CareFusion Corp., Carestream Health Inc., Futuremed America Inc., GE Healthcare, NIHON KOHDEN Corp., Perkin Elmer Inc., Philips Healthcare, SDI Diagnostics, Smiths Medical, and Siemens Healthcare, among others.
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