Respiratory diseases are type of disorders that affect the lungs and other parts of the respiratory system. For instance, asthma, chronic obstructive pulmonary disease (COPD), pulmonary fibrosis, pneumonia, and lung cancer are all types of respiratory diseases. These diseases are caused due to infection, by smoking tobacco, or by breathing in secondhand tobacco smoke, radon, asbestos, or other forms of air pollution. These are also called as pulmonary disease. Diagnosis for respiratory disease can be done by measuring the lungs' capacity to hold and move air and to exchange oxygen and carbon dioxide. Other tests, including chest imaging, bronchoscopy, and thoracoscopy, allow doctors to determine the specific cause of a lung disorder.
MARKET SCOPE
The "Global Respiratory Diagnostics Devices Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the respiratory diagnostics devices market with detailed market segmentation by product and service, test type, disease indication, end user, and geography. The report provides key statistics on the market status of the leading respiratory diagnostics devices Market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product and service, the market is classified as instruments and devices, assays and reagents, services and software.
- The test type segment is segmented into mechanical tests, OSA diagnostic tests, imaging tests, traditional diagnostic tests, molecular diagnostic tests, and other test types.
- Based on disease indication, the respiratory diagnostics market is segmented into tuberculosis, asthma, lung cancer, chronic obstructive pulmonary disease.
- On the basis of end user, the market is classified as hospital, clinical laboratories, reference laboratories, physician offices.
MARKET DYNAMICS
Drivers:
- Rising prevalence of respiratory disease
- Technological advancement in respiratory diagnostic testing
- Growth in geriatric population with respiratory disorders
- Increase in the demand for respiratory devices in private hospitals and clinics
- High prevalence of tobacco smoking and urbanization and growing pollution levels.
Restraints:
- High price associated with COPD diagnosis and testing,
- Strict regulatory requirements
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The respiratory diagnostics devices market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Respiratory diagnostics devices Market in these regions.
IMPACT OF COVID-19 ON RESPIRATORY DIAGNOSTICS DEVICES MARKET
Due to the outbreak of disease, healthcare industries have been affected severely, considering the economic conditions in the current situation. Due to growing coronavirus cases, many seminars and international conferences have been postponed. After the first case in December in Wuhan, China, the COVID-19 virus, has spread to at least 180 countries and regions. Prohibitory measures have been taken to control the spread of this pandemic. However, in these measures, hospitals, clinics, diagnostic centers, ambulatory surgery centers (ASCs) are not taking any surgeries on priority. Universities across the Asia Pacific region are closed; access to research labs is restricted, and ongoing projects have been postponed, fieldwork interrupted, and travelling is prohibited. Thus, the market is likely to face challenges due to coronavirus outbreak.
MARKET PLAYERS
The report covers key developments in the respiratory diagnostics devices market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from respiratory diagnostics devices market are anticipated to lucrative growth opportunities in the future with the rising demand for respiratory diagnostics devices in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the respiratory diagnostics devices Market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Koninklijke Philips N.V.
- BD
- Abbott
- Thermo Fisher Scientific Inc.
- Medtronic
- NIHON KOHDEN CORPORATION
- GENERAL ELECTRIC
- Smiths Group plc
- Dragerwerk AG & Co. KGaA
- Bio-Rad Laboratories, Inc.