Respiratory Disease Testing Market by Test Type and Geography - Forecast and Analysis 2021-2025

According to the research report, the respiratory disease testing market will witness a growth of 8.49 % at a CAGR of 7.01% which is expected to increase by USD 3.52 billion for the forecast period 2020 to 2025.

This market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (imaging tests, mechanical tests, and in-vitro diagnostic tests) and geography (North America, Europe, Asia, and ROW). The respiratory disease testing market report also offers information on several market vendors, including Cepheid Inc., COSMED Srl, F. Hoffmann-La Roche Ltd., Koninklijke Philips NV, NDD Medical Technologies, Nihon Kohden Corp., ResMed Inc., Seegene Inc., Smiths Group Plc, and Vyaire Medical Inc. among others.

What will the Respiratory Disease Testing Market Size be During the Forecast Period?

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Parent Market Analysis

Our Technavio Research categorizes the global respiratory disease testing market belonging to Life Sciences Tools & Services industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period

Respiratory Disease Testing Market: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2020 as the base year, and 2021 as the estimated year, and produced drivers, trends and challenges for the market. During the COVID-19 pandemic, the demand for the market has been impacted a lot accelerating but a holistic analysis of drivers will help in exact demands and refining marketing strategies to gain a competitive advantage.

Key Respiratory Disease Testing Market Driver

One of the key factors driving growth in the market is the rising prevalence of COPD. COPD is a chronic, non-communicable, lifestyle-related disease, which progresses continuously in the absence of medical intervention. Several lifestyle-related factors, including smoking, exposure to biomass fuels, and air pollution, increase the risk of developing COPD. Because of the significant presence of these factors in the environment worldwide, COPD has become a leading cause of mortality and morbidity globally. As per WHO, COPD is considered the third-leading cause of death worldwide. Smoking is the leading cause of COPD, especially in developed countries where cigarette smoking is widespread. As per the CDC, in 2019, it was estimated that 34.1 million adults in the US smoked cigarettes. Tobacco smoke from tobacco pipes, cigars, and cigarettes is an irritant that affects the bronchi and the alveoli inside the lungs, leading to COPD. In addition to tobacco smoke, there are other factors such as occupational exposure to certain hazardous chemicals and materials like asbestos, outdoor pollution, exposure to second-hand or passive smoking, smoke from the burning of biomass, respiratory infections, poor nutritional status, chronic asthma, impaired lung growth, poor socioeconomic status, and dietary factors, which lead directly or indirectly to COPD. Apart from the above-mentioned lifestyle factors, there are factors such as old age and the presence of rare genetic disorders, which contribute to the rising prevalence of COPD. 

Key Respiratory Disease Testing Market Challenge

The competitive pricing between global and local vendors will be a major challenge for the market during the forecast period. The global market has the presence of many players, leading to intense competition. Pricing is the main factor driving the competition, which results in lower profit margins. Local vendors offer products at low costs when compared with global vendors, which allows customers to opt for the former. Also, in developing countries, there is a lack of awareness about advanced respiratory monitoring products offered by global vendors. While developing a product, global companies spend a significant amount on R&D, marketing, and promotions. However, local companies sell their products at low-profit margins and at a discounted rate to compete with global companies. This creates an opportunity for local vendors to increase their customer base and sell their products at high-profit margins. The presence of low-cost products manufactured by local vendors attracts end-users, which, in turn, increases their revenue. Such factors create challenges for the growth of the market in focus during the forecast period. 

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Respiratory Disease Testing Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Cepheid Inc.
• COSMED Srl
• F. Hoffmann-La Roche Ltd.
• Koninklijke Philips NV
• NDD Medical Technologies
• Nihon Kohden Corp.
• ResMed Inc.
• Seegene Inc.
• Smiths Group Plc
• Vyaire Medical Inc.

 

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Cepheid Inc. - The company offers respiratory disease testing solutions that rapidly detect and differentiates Flu A, Flu B, or RSV in as soon as 20 minutes, under the brand name Xpert.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The vendor profiles are designed to help clients improve their market position, and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.

Respiratory Disease Testing Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain, and parent market of the market which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Respiratory Disease Testing Market?

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30% of the market’s growth will originate from Asia during the forecast period. China and Japan are the key markets for respiratory disease testing in Asia. Market growth in this region will be faster than the growth of the market in other regions.

The market in Asia is expected to grow at a moderate rate during the forecast period. Countries such as Japan, China, India, and South Korea are the key contributors to the growth of the market in Asia. Technological innovations and increasing disposable incomes in these emerging markets will drive the growth of the market in focus during the forecast period. This will facilitate market growth in Asia over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Respiratory Disease Testing Market?

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The market share growth by the imaging tests segment will be significant during the forecast period. The demand for medical imaging procedures such as rapid diagnostic results is driven by the high-definition (HD) image quality, easy device operability, and better cost-effectiveness than conventional devices. Developments in 3D technology and its benefits have caused a shift from traditional 2D B/W imaging to 3D/4D/5D ultrasound workflows that offer real-time data sharing and analysis. Following the expansion and popularity of 3D and 4D ultrasound equipment, vendors have launched the latest 5D ultrasound equipment. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Respiratory Disease Testing Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 7.01%
Market growth 2021-2025	$ 3.52 billion
Market structure	Fragmented
YoY growth (%)	8.49
Regional analysis	North America, Europe, Asia, and ROW
Performing market contribution	Asia at 30%
Key consumer countries	US, China, UK, Germany, and Japan
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Cepheid Inc., COSMED Srl, F. Hoffmann-La Roche Ltd., Koninklijke Philips NV, NDD Medical Technologies, Nihon Kohden Corp., ResMed Inc., Seegene Inc., Smiths Group Plc, and Vyaire Medical Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Respiratory Disease Testing Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the respiratory disease testing industry across North America, Europe, Asia, and ROW
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of market vendors

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