Respiratory Diagnostics Market Forecasted Double-Digit Growth Rate Through 2024

Global Respiratory Diagnostics Market: Overview

People from every corner of the world may have suffered from some kind of respiratory diseases. Respiratory diseases may result in death if they are not properly diagnosed. Commonly prevalent respiratory diseases include asthma, acute respiratory infections, chronic obstructive pulmonary disease, and others. In the respiratory diagnostics, radiographic procedures hold a very important place. Respiratory diagnostics highlight the greatest concern of the respiratory diseases and provide remedies to combat against threats of these diseases.

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Global Respiratory Diagnostics Market: Growth Factors

The major factors driving the market growth are the rise in the cases of respiratory diseases, increasing aging population, and technological advancement. Increasing government support for R&D and development in the healthcare sector are factors that anticipate fueling the market growth. Well-established hospitals and clinics with advanced medical equipment also contribute to the rise of the global respiratory diagnostics market. Increasing population and changing climate are influencing the market in a positive way. However, a presence of large population going undiagnosed and undertreated, lack of awareness, and increasing concerns regarding healthcare costs are factors that restrain the market growth.

Global Respiratory Diagnostics Market: Segmentation

The global respiratory diagnostics market is classified based on the end-user which includes clinical laboratories, physician offices, reference laboratories, and others. Based on test type, the global market is fragmented into imaging tests, traditional diagnostic tests, molecular diagnostic tests, and mechanical tests. The traditional diagnostic tests segment is dominating the global market owing to the quick turnaround time of these tests. The disease segment is classified as tuberculosis, chronic obstructive pulmonary disease, asthma, lung cancer, and other diseases. The tuberculosis disease segment contributed the largest market share due to increasing use of tobacco smoking and increasing air pollution. Based on product and service, the global respiratory diagnostics market is segregated into services and software, instruments and devices, and assays and reagents.

Global Respiratory Diagnostics Market: Regional Analysis

North America has generated a large demand for respiratory diagnostics across the world owing to rapid growth in the geriatric population and rising prevalence of respiratory diseases. Europe is another potential market that is growing at a fast rate due to the presence of developed healthcare system. In addition, availability of the good distribution channels for respiratory diagnostic products in this region is expected to propel the global respiratory diagnostics market growth. Other developing countries such as Australia, South Korea, China, Taiwan, and India are witnessing lucrative growth opportunities. Increasing investments in the healthcare industry, growth in geriatric population, and growing per capita income are key factors responsible for the market growth in Asia-Pacific region. Expansion of private-sector hospitals in rural areas is also a factor that has contributed to the market growth in this region.

Global Respiratory Diagnostics Market: Competitive Players

Major vendors of global respiratory diagnostics market include Thermo Fisher Scientific Inc., Philips Healthcare, Seegene Inc., Abbott Laboratories, Biomérieux, and Becton, Dickinson & Company. Other influencing players include SDD Diagnostics, Bio-Rad Laboratories, Inc., Cosmed, and Alere Inc.

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Zion Market Research is an obligated company. We create futuristically, cutting edge, informative reports ranging from industry reports, a company reports to country reports. We provide our clients not only with market statistics unveiled by avowed p