Zion Market Research has published a new market report titled “Respiratory Disease Testing Market: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021”.
Sarasota, FL -- (SBWIRE) -- 01/05/2018 -- Zion Research has published a new report titled "Respiratory Disease Testing Market (Imaging, Spirometry, Peak Flow, Blood Gas, Lung Volume, and other Tests) for Hospitals, Physician Offices and Clinical Laboratories: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021". According to the report, the global respiratory disease testing market accounted for approximately USD 2.5 Billion in 2015 and is expected to reach approximately USD 3.1 Billion by 2021, growing at a CAGR of around 3.6% between 2016 and 2021.
The respiratory tract performs the function of inhaling oxygen from the atmosphere into the lungs, transferring of the oxygen to the blood, and exhaling carbon dioxide outside of the body. Breathing is usually habitual, controlled automatically by the respiratory center at the base of the brain. In addition, the respiratory system also helps to stabilize blood-alkaline balance (pH), remove toxic waste and regulates temperature. Respiratory diseases inhibit this usual operation of the respiratory system and are usually caused as a result of the inhalation of dangerous agents, smoking, and unhealthy lifestyles. Besides this other factors such as genetic factors, infections either indirectly or directly may also cause respiratory ailments. There are many disorders and infections of the respiratory system. Infections occur more commonly in the respiratory tract as compared to other organs in the body. The respiratory testing devices aid in detecting chronic or acute respiratory diseases; which is very necessary for the treatment to people with respiratory damages.
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Respiratory tests such as spirometry, lung volume, peak flow test, imaging, blood gas test, and few other tests are used to diagnose the respiratory disease. Equipment used to detect pulmonary abnormalities hold immense potential due to increasing prevalence of various respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and pneumonia. More than 200 million people globally are suffering from asthma, and there have more than 3 million deaths worldwide due to COPD. Moreover, technological advancements and growing aged population would drive the global respiratory disease testing market. However, portable spirometers and low adoption rate of digital radiography may curb the growth of respiratory disease testing market during the forecast period. However, the budding market in Asia-Pacific can act as a potential opportunity for respiratory disease testing market during the forecast period.
Based on the type of the test, the global respiratory disease testing market has been segmented into imaging test, peak flow test, blood gas test, spirometry, lung volume test, and other tests. The imaging test segment holds the largest share of the global respiratory disease testing market. The dominance of the segment was mainly due to high demand for imaging tests, especially X-ray. In addition, doctors insist for these tests as they are considered the primary tests for diagnosis of respiratory diseases. While the spirometry test segment is projected to be the fastest growing segment during the forecast period due to its effectiveness and accurate diagnostic results in a short period of time.
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The global respiratory disease testing market is segmented into three major end-user segments i.e. physician offices, hospitals, and clinical laboratories. Hospitals hold the largest market share of respiratory disease testing market in 2015. Hospitals hold more than 50% share of global respiratory disease testing market. The segment dominated the market as most of the respiratory diagnostic instruments, particularly X-ray machines are mostly available in hospitals. Moreover, doctors favor in-house diagnostic tests for their patients in comparison to outside patients.
North America holds the largest market share for respiratory disease testing in 2015. The dominance of the region was primarily due to rise popularity of portable devices, increasing the prevalence of respiratory diseases and growing demand for home health care devices and services. The respiratory disease testing market in Asia-Pacific is expected to grow at the fastest growth rate during the forecast period. Latin America is projected to expand at a noticeable growth rate during the forecast period.
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Major market players in this industry are ndd Medical Technologies, Inc., Carestream Health, Inc., SDI Diagnostics, Nihon Kohden Corporation, CareFusion Corporation, Smiths Medical, COSMED, Perkin Elmer, Inc., Philips Healthcare, MGC Diagnostic Corporation, Futuremed America, Inc. and GE Healthcare among others.
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