Global Respiratory Disease Testing Market, By Test Type (Imaging Test, Spirometry, Peak Flow Test, Blood Gas Test, Lung Volume Test, Others), By End User (Hospitals, Physician Offices, Clinical Laboratories), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 3,232.0 Million in 2023 and is expected to exhibit a CAGR of 4.0% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Major players in the market are focused on inorganic strategies such as funding to enhance its market share. For instance, in May 2020, CARB-X Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator, a nonprofit partnership focused on supporting antibacterial research, announced it is awarding Microbion Corporation is a clinical-stage pharmaceutical company developing a novel class of compounds for the diagnosis of difficult-to-treat infections in Bozeman, USA, US$ 6.1 million plus up to $5.4 million more if certain project milestones are met, to develop its anti-infective drug pravibismane for the treatment of cystic fibrosis (CF)-related pulmonary infections.
Global Respiratory Disease Testing Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of tests from one place to another.
COVID-19 had a positive impact on the global respiratory disease testing market. for instance, according to the research article published in December 2021 by Respiratory Medicine and Research, patients with chronic respiratory diseases (CRD) were likely to experience respiratory symptoms from viral respiratory infections, including the SARS-CoV-2 infection, which can worsen the condition and necessitate hospitalization. However, the stabilizing cases of COVID-19 are expected to stabilize the growth of the market in the coming years. As per the weekly update by World Health Orgnisaation in November 2021, after a 5-week drop, global COVID-19 cases stabilized last week, though deaths continued to decline. Cases were down in all but one of the six world regions, with the biggest drop in African countries (-35%). Thus, the COVID-19 pandemic had a considerable impact on the market.
Global Respiratory Disease Testing Market: Key Developments
On March 15, 2023, Cepheid, a molecular diagnostics company, announced the launch of its first manufacturing unit in India at Mahadeva Kodigehalli, Bengaluru. The 77,000 square-foot facility will manufacture the company’s industry Xpert Staphylococcus Aureus testing cartridges for India and other countries.
In April 2022, Samsung digital radiography and ultrasound systems, introduced the GM85 Fit, a new configuration of the premium AccE GM85; a digital radiography device featuring a user-centric design that aids in efficient and effective patient care. The GM85 Fit recently received 510(k) clearance from the U.S. Food and Drug Administration for commercial use in the USA.
In January 2020, Wockhardt, a global pharmaceutical and biotechnology company headquartered in Mumbai, India, announced regulatory approval of two novel antibiotics EMROK (IV) and EMROK O (nasal), for acute bacterial skin and skin structure infections, including diabetic foot infections and concurrent bacteraemia.
On June 26, 2023, Savara Inc., a clinical stage biopharmaceutical company focused on rare respiratory diseases, announced that enrollment has been completed for the pivotal Phase 3 IMPALA-2 trial. A total of 164 patients were randomized. Target enrollment for the trial was 160 patients. The Company expects to report top line results by the end of 2Q 2024. IMPALA-2 is a global, 48-week, placebo-controlled clinical trial evaluating molgramostim, a novel inhaled biologic, for the Diagnosis of aPAP (Automatic Positive Airway Pressure), a rare lung disease with no approved pharmacological treatments.
Browse 33 Market Data Tables and 30 Figures spread through 178 Pages and in-depth TOC on “Global Respiratory Disease Testing Market”- Forecast to 2030, Global Respiratory Disease Testing Market, By Test Type (Imaging Test, Spirometry, Peak Flow Test, Blood Gas Test, Lung Volume Test, Others), By End User (Hospitals, Physician Offices, Clinical Laboratories),and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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https://www.coherentmarketinsights.com/market-insight/respiratory-disease-testing-market-4030
Key Takeaways of the Global Respiratory Disease Testing Market:
- The global respiratory disease testing market is expected to exhibit a CAGR of 4% during the forecast period. Market players are involved in deploying strategic initiatives, which include product launnches and expansion of distribution networks, among others. For instance, in November 2022, Cipla Limited, an multinational pharmaceutical company in India, has launched pirofy Device in India to Help Test Lung Function its wireless, portable device capable of performing lung function tests outdoors and in remote areas
- Among Test Type, the imaging tests is anticipated to hold a significant share in the respiratory disease testing market during the forecast period. This is due to its wide range of advantages, such as the compact size of the device, higher accuracy, longer life. For Instance, On March 06, 2023 Vitalograph, a developer and producer of respiratory diagnostic devices, has launched its VitaloPFT Pulmonary Function Testing Series, aimed for use in secondary care.
- Among region, North America is expected to be the dominant region in the global respiratory disease testing market, owing to the increase asthamatic petionts.For instance, the data provided by Statistics Canada in September 2021 for health characteristics and annual estimates for asthma an increase in 2020 from the previous years. The number of people affected by asthma increased to 2,802,700 in 2020. This burden of asthma in the country is expected to increase demand for early diagnosis of the disease. This is expected to drive the studied market growth in Canada, fueling the overall market growth in the region.
- Major players operating in the respiratory disease testing market are CareFusion Corporation, Carestream Health, Inc., COSMED, Futuremed America, Inc., GE Healthcare, MGC Diagnostics Corporation, ndd Medical Technologies, Inc., Nihon Kohden Corporation, Perkin Elmer, Inc., FUJIFILM Healthcare Corporation, Philips Healthcare,Roche Healthcare, Beckton Dickinson and Company, Koninklijke Philips N.V. ResMed Inc., Medtronic, Abbott Diagnostics, and Quest Diagnostics.
