Respiratory Diagnostics Market to Hit USD 9.02 Billion by 2030 with 6.5% CAGR | MarketsandMarkets™
DELRAY BEACH, Fla., Feb. 11, 2025 /PRNewswire/ -- The global respiratory diagnostics market, valued at US$ 5.85 billion in 2023, is forecasted to grow at a robust CAGR of 6.5%, reaching US$ 6.17 billion in 2024 and an impressive US$ 9.02 billion by 2030. Respiratory diagnostic devices help detect respiratory disorders. These constitute various instruments, devices, assays, and reagents. Diagnostic tests for respiratory evaluation include mechanical evaluation, such as spirometry, pulse oximetry, and bronchoscopy; imaging studies; and in vitro studies. The market comprises analyzers, sequencers, amplifiers, and electrophoresis systems; assays & reagents; services & software for diagnosing diseases such as tuberculosis, asthma, lung cancer, and chronic obstructive pulmonary disease (COPD).
The major factors driving the growth of this market include the rising incidence of respiratory disorders, the expanding geriatric population and the rise in sedentary lifestyles, growing awareness about respiratory health, and advancements in diagnostic technologies. The high growth potential of emerging economies, the increasing demand for POC testing, and the growing awareness about obstructive sleep apnea (OSA) are factors expected to create growth opportunities for market players during the forecast period.
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Growth in the market can be attributed to factors such as increased urbanization, population explosion, increasing smokers, and changing lifestyle patterns. There is also the very poor air quality in several parts of the world, especially in the western world, to add to the existing health conditions established initially by the harmful environmental factors. These include other outdoor factors but seriously include indoor pollution, which increases health problems in general. Children are more prone to develop respiratory diseases like asthma and tuberculosis (TB), chronic obstructive pulmonary disease (COPD), and, to some extent, even more severe complications such as lung cancer and lung failure associated with indoor pollution. Thus, the increasing demand for early detection of these diseases will significantly impact the growth of this market, especially in diagnostics.
There were urbanization crags that made lifestyle changes that have ruined air quality only to be increased in modern civilization with the modernizing and enlarging population along with the existing inhabitants. With industrialization and construction of roads with cars, people are exposed to what environment toxins do, thus worsening lung conditions. Conditions of indoor pollution in the early lives of children are highly critical adjusted. Demand is created by the increasing emergence of advanced diagnostic tools for earlier detection in order to permit better treatment outcomes, thereby providing great opportunities for increasing health markets in general with a focus on respiratory diseases.
Based on product and services, the respiratory diagnostics market is segmented into instruments and devices, assays and reagents, and software and services. The instruments and services market accounted for the largest share owing to the anticipated increase in demand for reliable and fast diagnostics. The instrument tested successful detection of chronic bronchitis, asthma, and more recently, covid. Technological advancements such as invention of portable and hand-held devices have also intensified demand. Furthermore, increase in the load of respiratory conditions, favorable awareness and need for early diagnosis are further promoting growth in this market. Addition to that improvement in healthcare infrastructure and growing usage of point-of-care devices also support the holding of dominance of instruments and devices in this segment.
Based on test type, the respiratory diagnostics market in segmented into mechanical tests imaging tests, traditional diagnostic tests, and molecular diagnostic tests. It is expected that Mechanical testing segment would continue to dominate the respiratory diagnostics market by 2023 as it forms an important part of respiratory disease diagnosis, such as asthma, chronic obstructive pulmonary disease (COPD), and pulmonary fibrosis. Increasing prevalence of respiratory diseases and acceptance of these diseases in spirometry and lung volume tests are the factors driving this segment's growth. These tests are very accurate, non-invasive, and efficient, which make them appealing to clinicians. Other advances further improved by smaller and digital spirometers will greatly increase portability in primary care settings. This is also made valuable by increased emphasis in preventive health and monitoring of respiratory function.
Based on disease indication, the respiratory care devices market is segmented into asthma, chronic obstructive pulmonary disease (COPD), tuberculosis, lung cancer, pneumonia and others. As a disease, asthma now enjoys the utmost stake in the market; it is only due to its rising numbers especially among younger populations coupled with gradate numbers of adults. The recent happening in the smoking habit among the young people is a huge contributor to this increase along with other factors, such as indoor pollution, tobacco smoke, and reduced lung capacity. Even the slightest exposure to dust has been determined to greatly contribute to chronic dust allergens that often cause asthma. These acute triggers and the chances of symptom occurrence have grown the asthma market.
Based on type of diagnosis, the respiratory care devices market is segmented into syndromic, aetiological and prognosis. The syndromic testing segment held the largest share in the respiratory diagnostic market due to its potential for detecting multiple pathogens linked with respiratory infection which highly improves the speed and accuracy of the diagnosis. Increased incidences of co-infections during outbreaks such as COVID-19 and seasonal influenza have resulted in a greater demand for multiplex diagnosis solutions. Another advantage of syndromic tests is that they reduce the uncertainty in diagnosis for a broad range of viral bacteria and fungal pathogens, all with a single assay. Finally, one of the major driving factors start being the improved accessibility by which syndicated PCR-based syndromic panels were assimilated into point-of-care settings along with streamlined workflow creating awareness and growing their adoption by healthcare providers worldwide.
Based on end users, the respiratory care devices market is segmented into hospitals and clinics, diagnostics laboratories, long term care & specialty centers, research institutes/ academic laboratories. The hospitals and clinics segment has accounted for the largest share of end-user respiratory diagnostics market as they provide first contact to nearly all respiratory conditions. Certainly, both accounts, including greater patient visits for acute and chronic diseases, and reliable, advanced diagnostic equipment with expert professionals, support such extent of demand. Primarily, it serves as a one-stop solution for most residential diagnostic requirements encompassing imaging, mechanical testing, and syndromic testing with results being precise as well as timely. Moreover, expending amounts on building hospital infrastructures and integrating advanced respiratory diagnosis techniques, as well as providing multidisciplinary care, continue to reinforce this filling demand among hospitals and clinics.
Based on region, the global respiratory care devices market is segmented into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa. The North America region has accounted for the highest market sahre in 2023, because of the advanced infrastructure for healthcare, cutting-edge diagnostics technologies that have been extensively adopted, as well as huge investment in R&D within the geographic region. Aged persons and high smoking rates in North America also contributed to the fact that respiratory disorders such as COPD and asthma have higher prevalence in this geographical area. Additionally, the reimbursement options would help promote the marketing of diagnostics and increase the number of major international diagnostic companies. Rising awareness regarding early detection of diseases augmented with the strong national government policies for the management of the illness, chiefly after the effects of the COVID-19 pandemic, bolstered further the segment. This dominance is mainly contributed to by the U.S., which has a strong clinical trial ecosystem.
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The prominent players in the respiratory diagnostics market include Koninklijke Philips N.V. (Netherlands), Becton, Dickinson and Company (US), Abbott Laboratories (US), Thermo Fisher Scientific Inc. (US), GE Healthcare Technologies Inc. (US), Bio-Rad Laboratories, Inc. (US), Blomerieux (France), Revvity, Inc. (US), Seegene Inc. (South Korea), Nihon Kohden Corporation (Japan), Vitalograph (UK), SDI Diagnostics (US), ResMed Inc. (US), Siemens Healthineers AG (Germany), Cosmed srl (Italy), Hologic, Inc. (US), and Qiagen N.V. (Germany). These players are constantly involved in the development of new products and adopting growth strategies like acquisitions, mergers, collaboration, etc. to strengthen their market reach.
Koninklijke Philips N.V.
The Koninklijke Philips N.V. is structured into four business lines that are: Diagnostic and Treatment, Personal Health, Connected Care, and Other. The Connected Care line consists of Hospital and Patient Monitoring, Emergency Care, Sleep & Respiratory Care, and Connected Care Informatics. The company's area under Sleep & Respiratory Care develops respiratory diagnostics products and solutions to be marketed. The company provides more than 450 products and services across over 120 countries, with its international workforce of approximately 40,099 people. Some of the key subsidiaries are Philips Respironics GK (Japan), Philips Medical Systems Technologies Ltd. (Israel), Respironics do Brasil (Brazil), Respironics Medical Products (Shenzhen) Ltd. (China), Respironics Deutschland (Germany), Respironics (Ireland), Respironics Sweden AB (Sweden), Respironics (UK) Ltd., and Respironics, Inc. (US). Philips in January 2024, signed an agreement with 4DMedical Limited (Australia) on a 5-year distribution agreement to retain exclusive access to its product for customers of the United States' government, but retains the non-exclusive right for its other commercial customers. Philips launched the CT 3500, an AI-assisted device diagnostic device in May 2023 with advanced imaging features and improved workflow that aid in more rapid and more accurate diagnosis.
GE Healthcare Technologies Inc.
GE Healthcare is at the forefront in medical technology and digital solutions enabling clinicians through data analytics, intelligent devices, applications, and services for diagnosis, treatment, and monitoring of patients. It offers accessories, education, services, consumables, and training and consulting. The business operates in five segments: healthcare, aerospace, power, renewables, and corporate. The healthcare segment is further broken into healthcare systems and pharmaceutical diagnostics, where the latter has products and services relating to respiratory diagnostics. It has over a century-long experience in the healthcare domain and has a presence in over 170 countries through its subsidiaries such as GE Healthcare Danmark A/S (Denmark), GE OEC Medical Systems GmbH (Germany), GE Healthcare BV (Netherlands), and GE Healthcare Dharmacon, Inc. (US). In 2024, GE Healthcare completed an upgrade to its OEC 3D m-CBCT platform with the introduction of Lung Suite, which focuses on enhancement of workflow and visualization for clinicians during bronchoscopy procedures. In early January 2024, Wipro GE Healthcare, a joint venture of GE Healthcare LLC (US) and Wipro Enterprises Limited (India), announced the signing of a Memorandum of Understanding with the Indian Institute of Science (IISc) to accelerate research and innovation and technology development in healthcare in India.
BD
BD (Becton, Dickinson and Company) is a global medical technology company that manufactures and distributes medical devices, instrument systems, and reagents. Its three business segments are Medical, Life Sciences, and Interventional. Respiratory diagnostics solutions though come up in Life Science in two sub-segments: Integrated Diagnostic Solutions and Biosciences. BD markets to healthcare institutions, life science researchers, clinical laboratories, and the pharmaceutical industry, with sales in more than 50 countries across North America, Europe, Asia, the Middle East, and Africa. In August 2023, BD announced it had received FDA 510(k) clearance for BD Respiratory Viral Panel (RVP) for the BD MAX System, a molecular diagnostic test for identifying and differentiating SARS-CoV-2, influenza A, influenza B, and RSV in about two hours. Also in September 2024, BD acquired Edwards Lifesciences Corporations' (US) Critical Care product group for USD 4.2 billion, branding it BD Advanced Patient Monitoring and thus expanding its offering of smart connected care solutions and opening up new value creation opportunities.
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