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Respiratory disease testing market to gain substantial returns by 2026

Author : Ronak Bora | Published Date : 2020-09-03 

Respiratory Disease Testing Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

In the next few years, respiratory disease testing market share could witness unprecedented gains due to a significant rise in the number of infections across both developed and developing nations. Moreover, there is a rise in the spread of infections acquired from the hospital and other respiratory diseases. Hospital-acquired infections lead to lower respiratory tract infections like tracheobronchitis and ventilator derived pneumonia.

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Market players are constantly aiming at introducing advanced and cost-effective testing kits, consumables, devices, and software to meet the demand from healthcare centers. The increasing number of clinics in both developed and developing nations is a major consumer of respiratory diagnostic kits. This is mainly due to the ease in establishing healthcare clinics even in the remote parts of a country.

Clinics provide immediate attention to the symptoms of the patients, providing accelerated treatment of respiratory disease. The treatment may be provided through various imaging solutions like computed tomography, X-ray, and magnetic resonance imaging. The channel represents a promising avenue for the expansion of respiratory disease testing market size, which is pegged to reach USD 18.2 billion in yearly revenues by 2026.

In 2018, 10 million individuals had tuberculosis. Also, 1.5 million deaths occur every year due to the disease. Rising incidence of asthma and tuberculosis will also be conducive to the adoption of testing solutions. Distress in lung is one of the major symptoms found in coronavirus positive patients. Expanding coronavirus affected patient pool will create opportunities for respiratory disease testing industry players.

In-vitro diagnostic tests contribute to consumer safety and are witnessing major demand due to product affordability. Rising respiratory disorder cases due to coronavirus is leading to high demand for cheap respiratory diagnostic tests, which in turn may fuel product demand. In-vitro diagnostic test segment is estimated to register a growth rate of 8.1% over 2020-2026.

Point-of-care and molecular diagnostic tests are types of vitro-diagnostic test. Out of these, point-of-care tests are expected to experience major adoption due to product’s expanded testing capabilities, rapid diagnosis and efficiency in specimen stability as well as convenience in handling.

Asthma affects around 23.4 million individuals across the globe, annually. Also, around 250,000 asthma related deaths are reported every year, globally. In 2019, asthma contributed to revenue generation of over USD 2.5 billion towards the respiratory disease testing market share.

Also, over 90% of COPD deaths occur in low and middle income countries. Early COPD diagnosis can save millions of lives every year. Mounting need for effective diagnosis methods and devices will boost the industry growth.

Middle east & Africa respiratory disease testing industry size will reach USD 1.4 billion in terms of annual valuation by 2026 due to the presence of MERS (Middle East respiratory syndrome-related coronavirus) which is now followed by COVID-19 pandemic. As of January 220, 2,519 MERS cases has been registered in the region, accounting for around 866 deaths.

In addition, in Saudi Arabia alone, COVOD-19 has resulted in 6,380 cases leading to 83 deaths. Increasing incidences of respiratory diseases across the region will create numerous avenues for the respiratory disease testing market players. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/respiratory-disease-testing-market

Partial Chapter of the Table of Content 

Chapter 5.    Global Respiratory Disease Testing Market, By Application

5.1. Key segment trends

5.2. Chronic obstructive pulmonary disease

5.2.1.    Market size, by region, 2015-2026 (USD Million)

5.3. Lung cancer

5.3.1.    Market size, by region, 2015-2026 (USD Million)

5.4. Asthma

5.4.1.    Market size, by region, 2015-2026 (USD Million)

5.5. Tuberculosis

5.5.1.    Market size, by region, 2015-2026 (USD Million

5.6. Others

5.6.1.    Market size, by region, 2015-2026 (USD Million)

Chapter 6.    Global Respiratory Disease Testing Market, By End-use

6.1. Key segment trends

6.2. Diagnostic centers

6.2.1.    Market size, by region, 2015-2026 (USD Million)

6.3. Hospitals

6.3.1.    Market size, by region, 2015-2026 (USD Million)

6.4. Clinics

6.4.1.    Market size, by region, 2015-2026 (USD Million)

6.5. Others

6.5.1.    Market size, by region, 2015-2026 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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