The growth of respiratory diagnostics market in North America majorly driven by rising prevalence of respiratory diseases and growing geriatric population in the region. Other factors supporting the growth of this market include the presence of an advanced healthcare system and strong distribution channels for respiratory diagnostic products in North America.
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The global respiratory diagnostics market is projected to reach USD 7.45 billion by 2021 from USD 5.24 billion in 2016, at a CAGR of 7.3% from 2016 to 2021. Increasing prevalence of respiratory diseases, growing geriatric population, and technological advancements in respiratory diagnostic systems are the major factors driving the growth of the global respiratory diagnostics market.
- Respiratory diagnostic device manufacturers and distributors
- Healthcare institutions (hospitals, laboratories, medical schools, and outpatient clinics)
- Research institutes
- Contract manufacturing organizations (CMOs)
- Government associations
- Market research and consulting firms
The respiratory diagnostics market is dominated by established players such as Philips Healthcare (Netherlands), Becton, Dickinson and Company (U.S.), Abbott Laboratories (U.S.), Thermo Fisher Scientific Inc.
(U.S.), and Alere, Inc. (U.S.).
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The global respiratory diagnostics market is broadly segmented by product and service, test type, disease, end user, and region. On the basis of product and service, the respiratory diagnostics market is segmented into instruments & devices, assays & reagents, and software & services.
Scope of the Report
- The market study doesn’t cover the market size in terms of volume
- Some companies in this market are privately owned and their revenues are not available in the public domain. Hence, revenue for those companies are not included in this report
- Company developments not reported in the public domain are not included in this report
Factors such as increasing prevalence of respiratory diseases, growing geriatric population, and technological advancements in respiratory diagnostic systems are driving growth of global market. Emerging markets like Asia-Pacific provide new growth opportunities for players in market.
On other hand, rising healthcare costs and reimbursement concerns are major factors restraining growth of market.
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Developing markets in Asia-Pacific such as Japan, China, India, South Korea, Taiwan, Australia, and Singapore offer lucrative opportunities for players in the respiratory diagnostics market. Rising geriatric population, growing per capita income, increasing investments in the healthcare industry by key market players, and expansion of private-sector hospitals to rural areas in various APAC countries are the major factors driving the growth of the respiratory diagnostics market.
On basis of disease, respiratory diagnostics market is segmented into asthma, chronic obstructive pulmonary disease, lung cancer, tuberculosis, and other diseases. Tuberculosis segment is expected to account for largest share of respiratory diagnostics market in 2016.
Large share of this segment can be primarily attributed to increase in tobacco smoking and growing air pollution levels.
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