The respiratory disease testing market is expected to register a CAGR of 6.5% over the forecast period, owing to the growing burden of respiratory diseases and technological advancements in the products. Chronic Obstructive Pulmonary Disease is a progressive lung disorder which causes reduction in airflow. According to the World Health Organization, 90% of the COPD deaths occur in low- and middle-income countries. Approximately 251 million cases of COPD were reported globally as per the study of the Global Burden of Disease Study. It is expected to increase in the coming years due to increasing aging population and changing lifestyle of people. Therefore, early diagnosis and treatment is very important which is expected to boost the market growth.
Key Market Trends
In-vitro Diagnostics Tests Segment is Expected to Exhibhit a Significant Market Growth in the Respiratory Disease Testing Market
In-vitro Diagnostics Tests are expected to show a steady growth in the Respiratory Disease Testing market. The major contributing factor for the market growth is the shift from traditional diagnostics to a new generation diagnostics that work at the gene level. This was made possible by the inclusion of advanced technologies, such as genetic testing, molecular diagnostics, polymerase chain reaction (PCR) and next-generation sequencing (NGS). Recently (2020), Qiagen received a CE mark in the Europe for QIAstat-Dx test kit for the detetction of SARS-CoV-2 coronavirus.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to be a dominant region in the Respiratory Disease Testing market owing to growing burden of respiratory diseases and higher prevalence of smoking. According to the Centre for Disease Control and Prevention, in 2018, the prevalence of Asthma was found to be around 6.2% in male and 9.1% in female in the United States. Furthermore, around 6.2% of people were reported with chronic obstructive pulmonary diseases in the United States. Hence, these factors are expected to increase the demand for respiratory disease testing market growth.
Major companies in Respiratory Disease Testing market include Beckton Dickinson and Company, Koninklijke Philips N.V., ResMed Inc., Medtronic, Carestream, MG Diagnostic Corporation, Abbott, ThermoFisher Scientific and Biomerieux.
In 2018, Seegene launched 7 test kits for diagnosis of respiratory infections in the Europe.
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