In 2023, the Respiratory Diagnostic Market reached a valuation of USD 7.62 Billion and is anticipated to achieve USD 14.20 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.3% from 2023 to 2030.
Respiratory Diagnostic Market Overview
The term “respiratory diagnostics” describes the clinical evaluation of pulmonary function and associated processes. It encompasses several mechanical, imaging, and molecular diagnostic tests for the diagnosis of bronchitis, lung cancer, asthma, and chronic obstructive pulmonary disease (COPD). Spirometry, oximetry, transcutaneous CO2 monitoring, nasal inspiratory pressure (SNIP), chest X-ray, and computed tomography (CT) scan are some of the techniques used. In some cases, sleep investigations are also carried out to identify and evaluate the presence of nocturnal hypoventilation and sleep apnea.
One of the main factors fueling the market’s expansion is the rising prevalence of respiratory disorders. Rising rates of COPD and other severe respiratory illnesses, such as lung cancer, are a result of rising rates of smoking and alcohol use, as well as sedentary lifestyle practices and stressful daily routines. Additionally, several technical advancements in respiratory diagnostic tests, such as the use of IoT and AI for the diagnosis of COPD and outpatient management, are having a beneficial impact on the market’s expansion. The market for respiratory diagnostics is also being driven by an increase in the demand for respiratory diagnostics devices in numerous privately owned hospitals and healthcare facilities as well as initiatives by both government and non-governmental organizations (NGO) to make quality healthcare facilities available to everyone. Improved research and development (R&D), a growing elderly population, fast urbanization the expansion of industrial facilities, and rising pollution levels globally are other factors driving the market’s expansion.
The need for its diagnosis will expand in the upcoming years due to the rise in the many forms of respiratory disorders around the world. Additionally, the COVID-19 pandemic epidemic has increased demand for the tools used in the detection and treatment of respiratory illnesses. Due to the pandemic epidemic, this market has shown steady growth in recent years. As a result, there is now a greater need for specialized diagnostic tools to identify these disorders. The government’s increasing assistance will be crucial to the market’s expansion. In the upcoming years, there will be an increase in demand for respiratory illness diagnosis due to an increase in the geriatric population around the world. Additionally, ongoing research & development in this area has produced several diagnostic methods and techniques that will aid in the market’s expansion in the years to come. Therefore, during the projection period, innovative diagnostics methods will present strong prospects for market development.
There are much less global reimbursement guidelines for diagnosing any condition. Worldwide, a substantial number of people rely heavily on reimbursement for any diagnostic procedure or medical care. The demand for diagnostic tests will decline during the next few years as a result of unfavorable reimbursement policies. Due to the Asia Pacific region’s low or nonexistent diagnostic test coverage, the forecasted growth in demand for these services will be constrained.
Segmentation of the respiratory diagnostics market based on Product and Services
Based on products and services, the segment of instruments and devices has significantly contributed to the market’s growth and covers the most significant share due to its extensive demand in the current market. In addition, the rapid increase in the number of diagnostic tests being carried out worldwide to a particular line of treatment that needs to be followed for a faster recovery demands the use of modern equipment and devices by the healthcare industry.
The key market players are conducting constant research and development regarding the advancement of technology and devices to make the tests more accurate and precise. Advanced technology has reduced the time required to complete a particular test type. Reagents and assays from the next segment show tremendous growth in the current market due to their extensive use in laboratories for conducting blood tests for diagnostic purposes. Even basic blood tests require reagents to obtain the desired result in a shorter time. In addition, laboratories have extensively used software and services to automate their services and increase test speed by evaluating them using artificial intelligence.
The healthcare system is adopting advanced software to manage vast amounts of data and process them in a shorter time. As a result, key market players are developing new software and services to attract potential consumers by providing accurate results in a shorter time.
Segmentation of the respiratory diagnostics market based on Test Type
Based on test type, the OSA diagnostic test has emerged as the largest segment due to its extensive use in laboratories. The quicker results obtained with the help of this technology have made it an option of choice for laboratories worldwide. In addition, rapid modernization has demanded faster results over a shorter time with accuracy, which has boosted the need for OSA diagnostic tests.
The mechanical test has emerged as the next largest segment due to its massive demand in the healthcare sector. The next segment discussed under this category is imaging tests that I use mainly in hospitals and scan centers for performing advanced studies regarding the pathological changes that have occurred in the body and lead to abnormalities. The diagnostic test is the next segment under this category that has emerged as a new market for the healthcare system, showing considerable growth with the increasing demand for advanced technologies and techniques in the diagnostic field.
Segmentation of the respiratory diagnostics market based on Disease
Based on Disease, lung cancer has emerged as the fastest-growing market due to its high prevalence worldwide, but the tuberculosis segment has dominated this category with its massive contribution in terms of revenue. In addition, various habitual practices such as smoking and consuming tobacco have boosted the chances of tuberculosis among the people, which has, in turn, propelled the growth of the market tremendously.
The rapidly increasing pollution worldwide has also boosted the number of respiratory diseases in society. This gives rise to several advanced tests being carried out on people to rule out many conditions. In addition, the high prevalence of lung cancer among people also needs advanced diagnostic procedures, propelling the size of the respiratory diagnostics market.
The vast number of people in the geriatric age group has also contributed sufficiently due to the prevalence of respiratory diseases. The other conditions included under this category are asthma and chronic obstructive pulmonary disorder, which are very common worldwide and require better diagnostic facilities to facilitate cures in a shorter time.
Segmentation of the respiratory diagnostics market based on Distribution Channel
Based on the distribution channel, tremendous growth has been observed in the retail sector due to the enormous demand for advanced diagnostic facilities to obtain accurate results over a shorter time. As a result, the retail sector has provided a wide variety of services to the healthcare industry to facilitate respiratory diagnostic procedures. On the other hand, the direct tender segment is showing faster growth due to the cost-effective nature of its diagnostic procedures.
Segmentation of the respiratory diagnostics market based on End Users
Based on end-user, clinical laboratories have presented the largest market share due to the rising demand for respiratory diagnostic facilities in the healthcare sector. As most patients with respiratory diseases present themselves in a hospital, the growth of the clinical laboratories segment has emerged as the fastest among all the other competitors. The advanced facilities in this sector under a single roof enable the patient to easily take advantage of the required services. In addition, the pandemic outbreak enabled many hospitals and clinics to possess multiple advanced technologies to provide the best service to consumers.
The Respiratory Diagnostic market is studied across North America, Europe, Asia Pacific, Latin America and the Middle East and Africa.
There is significant potential for expansion in the growing economies of Asia-Pacific, specifically China, South Korea, Japan, India, Taiwan, Singapore, and Australia. The main drivers of growth in the area include an aging population, rising incomes, increased investments in the healthcare sector by major market participants, and an increase in the number of private hospitals. Additionally, due to the region’s growing elderly population and increased prevalence of respiratory disorders, North America dominates the market.
The global respiratory diagnostics market is dominated by players like: Medtronic (Ireland), COSMED srl (Italy) , GENERAL ELECTRIC COMPANY (US), Koninklijke Philips N.V. (Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), NIHON KOHDEN CORPORATION (Japan), GC Diagnostics Corporation (South Korea), Masimo (US), Drägerwerk AG & Co. KGaA (Germany), Bio-Rad Laboratories Inc. (US), bioMérieux SA (France), Carestream Health (US), Abbott (US), Johnson & Johnson Services Inc. (US), Thermo Fisher Scientific Inc. (US), Novartis AG (Switzerland), GlaxoSmithKline plc (UK), Bayer AG (Germany), BD (US), and Others
- The US Food & Drug Administration granted Australian medical technology company 4DMedical permission to market its XV Technology in May 2020. This proprietary four-dimensional lung imaging approach quickly and automatically analyses any functional lung impairment from a single X-ray. The US operations of 4DMedical are located in Woodland Hills, California.
- SIME, a Clinical AI startup with a focus on rapid ICU diagnosis, declared in May 2020 that it has signed an exclusive contract with a current strategic investor to market its point-of-care goods and services across Latin America.
Segments covered in the report
By Product and Services
- Assays and reagents
- instruments and devices
- Services and software
By Test Type
- Mechanical tests
- Molecular diagnostic test
- OSA diagnostic test
- Traditional diagnostic tests
- Imaging tests
- Lung cancer
- Chronic obstructive pulmonary disorder
- Pulmonary fibrosis
- Other diseases
By End User
- Physician offices
- Clinical laboratories
By Distribution Channel
- Retail sales
- Direct tender
Based on Geography
- The UK
- Rest of Europe
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Rest of Latin America