Respiratory Disease Testing Market size to record $26 Bn by 2032

Respiratory Disease Testing Market size to reach USD 26 billion by 2032, according to a new research report by Global Market Insights Inc.
 

Increasing burden of chronic obstructive pulmonary diseases (COPD), a respiratory disorder that affects men and women, will positively influence the respiratory disease testing industry. COPD is highly prevalent in the geriatric individuals. As per WHO (World Health Organization), COPD is the third major cause of death across the globe, responsible for almost 90% deaths per year in people aged below 70 years in low-and middle-income countries. The rising threat of pulmonary hypertension, asthma, and fibrosis will also drive the adoption of respiratory disease testing devices.
 

However, the strong presence of unfavorable reimbursement scenarios is likely to hinder the respiratory disease testing market expansion to some extent. The escalating costs of advanced respiratory testing devices along with the stringency of the reimbursement policies have generated difficulties for patients to claim medical insurance for respiratory tests done at the laboratories, restricting the market growth.
 

Rising deployment of mechanical tests to drive respiratory disease testing demand

Respiratory disease testing industry valuation from mechanical tests reached more than USD 4 billion in the year 2022. Mechanical respiratory tests or pulmonary function tests (PFTs) render important information related to the lung health of the affected patients. These tests help in diagnosing a variety of respiratory conditions as they offer early detection of respiratory problems, monitoring of respiratory conditions and evaluation of lung functions.
 

Browse key industry insights spread across 446 pages with 509 market data tables & 17 figures & charts from the report, “Respiratory Disease Testing Market Size By Test Type (Mechanical Tests {Spirometry, Peak-flow Test, Pulmonary Function Test, Blood Gas Test), Imaging Tests {X-ray, CT-scan, Ultrasonography, MRI}, In-vitro Diagnostic Tests {Point-of-care Test, Molecular Diagnostic Test}), By Application (Chronic Obstructive Pulmonary Disease, Lung Cancer, Asthma, Tuberculosis) By End-use (Diagnostic Centers, Hospitals, Clinics), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/respiratory-disease-testing-market
 

Easy access to multiple tests in diagnostic centers to push market expansion

The respiratory disease testing industry size from diagnostic centers will record 6.4% CAGR from 2023-2032 due to ease of access to these facilities. Various diagnostic respiratory tests, including molecular diagnostic and point-of-care tests can be easily availed at the diagnostic centers. The rising number of diagnostic centers worldwide will also play a key role in the industry value. For instance, well-known drug manufacturer Lupin expanded its diagnostics business across India as part of its diversification by implementing operations in 11 labs, including a national reference lab.
 

Expanding geriatric patient pool to boost respiratory disease testing market trends in APAC

The progression for respiratory disease testing in the Asia Pacific will surpass USD 6 billion by 2032. The ongoing proliferation of several innovative methods for the development of fast and affordable molecular testing has spurred the need for rapid and portable diagnostics. The rapidly expanding geriatric population prone to chronic respiratory infections has further accelerated the outlook for diagnostic testing. The strong presence of major respiratory disease testing solution providers will drive market progress.
 

Thriving R&D activities to compliment respiratory disease testing demand

Abbott, Becton, SDI Diagnostics, Dickinson, and Company, Koninklijke Philips N.V., VYAIRE MEDICAL, INC., ResMed, Fischer & Paykel, Medtronic, BioMerieux SA, CAREstream Medical, Ltd, Thermo Fischer Scientific, Cosmed, Seegene Inc., Siemens Healthineers are some of the leading respiratory disease testing market players.