Respiratory infections are ranked as the greatest contributor to the overall burden of disease in the world. Five respiratory conditions accounting for a great burden to society are chronic obstructive pulmonary disease, asthma, acute respiratory infections, tuberculosis, and lung cancer. It is currently estimated that more than one billion people suffer from chronic respiratory conditions causing an immense worldwide health burden that is measured in the trillions of dollars per year.
The factors which are driving the growth of global respiratory diagnostics market are, increasing prevalence of respiratory diseases, growth in geriatric population, increase in the demand for respiratory devices in private hospitals and clinics, high consumption of tobacco and smoking, urbanization, growing pollution levels, sedentary lifestyle. However, strict regulatory requirements and reimbursement concerns hinder the growth of market.
The government and NGO’s are taking various initiative to spread the public awareness and control of the environment regarding prevention and treatment of respiratory diseases. The key players are focusing on new product launches, clinical trials, research and development, through agreements, joint ventures, partnerships, acquisitions, with other players.
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The global respiratory diagnostics market report has been segmented on the basis of product and service, test type, disease, end user, and region. On the basis of region, market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to dominate the respiratory diagnostics, rising prevalence of respiratory diseases such as COPD, asthma etc. The market in Asia Pacific is the emerging market for respiratory diagnostics due to improving healthcare infrastructure and increasing patient awareness regarding availability of diagnostic procedures.
Prominent players of global respiratory diagnostics market are, Becton, Dickinson and Company, Koninklijke Philips N.V, MGC Diagnostics Corporation, Medtronic, Inc., CAREstream Medical Ltd., ResMed Inc., Thermo Fisher Scientific Inc., GE Healthcare Limited, Abbott Diagnostics Inc., and Fisher & Paykel Healthcare, Inc.