Respiratory Infectious Disease Diagnostics Market

SKU: DMMD2675 | Last Updated On: Oct 14 2022 | Available Formats

>Respiratory Infectious Disease Diagnostics Market Expected to reach at a high CAGR of 1.8% during the forecast period 2022-2029

Respiratory Infectious Disease Diagnostics Market is segmented By Disease Type (Coronavirus Infections, Middle East Respiratory Syndrome (MERS), Tuberculosis, Others), By Test Type (Imaging Tests, Mechanical Tests, In-vitro Diagnostic Tests, Others), By End-User (Hospitals, Diagnostic Centers, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Respiratory Infectious Disease Diagnostics Market size was valued US$ 63.9 billion in 2021 and is estimated to reach US$ YY billion by 2029, growing at a CAGR of 1.8% during the forecast period (2022-2029).

Respiratory Infectious Disease Diagnostics Market Statistics

Metrics

Details

Market CAGR

1.8%

Segments Covered

By Disease Type, By Test Type, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Respiratory infections are caused by virus, bacteria, and other microbes, which further infect the respiratory system including the lungs, throat, and airways. Spread of infections is often through mucus and saliva that is usually expelled when the person sneezes, coughs, or laughs. Few of the germs are also spread though droplets that spread through air and also spread through travelling, which causes respiratory infections. Furthermore, some people can be infected by touching the remaining microbes on the surface, or touching contaminated hands.

Market Dynamics

The market is driven is the rising burden of respiratory diseases and technological advancements in the products.

Rising burden of respiratory diseases and technological advancements in the products are expected to drive market growth

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.

Recent pandemic resulting into widespread COVID 19 infections across the globe is a major factor that is estimated to boost the demand for diagnosis during forecast period. As per current statistics, in April 2020, 6.08 million people across globe were infected with COVID 19 diseases, and this is likely to impact the need for rapid diagnostics testing. This factor is likely to boost the respiratory infectious diagnostics market during forecast period.

According to data published in January 2020, 2519 laboratory-conformed cases of Middle East respiratory syndrome (MERS), were reported, which includes 866 associated deaths globally. Majority of cases reported were from Saudi Arabia (2121 cases), including 788 related deaths with a higher fatality rate of 37.1%. Moreover, the emergence of COVID-19 pandemic has driven the demand for faster diagnosis. According to statistics, in May 2020, there were around 6.08 million COVID-19 cases reported globally, which boosts the need for early diagnosis of diseases. This factor will drive the growth of market in the forecast period.

Rapid rise in burden of chronic obstructive pulmonary disorders such as chronic bronchitis, emphysema, asthma, and other lung diseases such as tuberculosis, pneumonia, is estimated to boost the respiratory infectious disease diagnostics market. Furthermore, rising lower respiratory infectious disease drives the need for early detection, which further drivers the demand for diagnostics tests. This factor will drive the growth of market in the forecast period.

Stringent regulatory framework coupled with unfavorable reimbursement policies are one of the major factors hindering the growth of the market

However, a stringent regulatory framework coupled with unfavorable reimbursement policies and a low awareness rate among the patient population will hamper the growth of the market in the forecast period.

COVID-19 Impact Analysis

In accordance with Emergency Use of Authorization, the U.S. FDA had approved 439 tests as of August 2022. (EUAs). New molecular diagnostic tests for SARS-CoV-2 detection have flooded the market. The market is predicted to be driven by rapid technical improvements that produce accurate findings, portability, and cost-effectiveness. The Aquilion Prime SP CT system from Canon Medical Systems was introduced in April 2020 to identify viral infectious illnesses quickly. This product includes an integrated decontamination tool that sanitises the entire apparatus using automated UV-C technology after being used by additional patients.

Industry Analysis

The global respiratory infectious disease diagnostics market provides in-depth analysis of the market based on various industry factors such as porter’s five forces, regulatory analysis, reimbursement analysis, supply chain analysis, pricing analysis, technological advancements etc.

Segment Analysis

Coronavirus infections segment is expected to hold the largest market share in global blood pressure monitoring devices market

The coronavirus infections segment held the largest market share. According to the WHO, SARS-CoV-2 has spread to over 150 countries with over 460,000 confirmed cases and over 20,000 deaths as of 27th March 2020. According to an article published in the World Economic Forum in March 2020, among the 500 people being hospitalized in the U.S., 20% were aged between 20 to 44 years and 18 % were aged between 45-54 years. This factor would drive the growth of the market in the forecast period.

People with existing illnesses such as cardiovascular disease, chronic respiratory disease, hypertension, and diabetes are expected to experience a higher than average fatality rate. Moreover, according to the Chinese CDC, males are more vulnerable to becoming severely ill with the virus than women. The male fatality rate is 2.8% and the female fatality rate is 1.7%. This factor will drive the growth of market in the forecast period.

Geographical Presentation

North America dominated the global respiratory infectious disease diagnostics market and is expected to grow at the highest CAGR during the forecast period due 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 drive the growth of market in the forecast period.

Adoption of rapid diagnostics tests for faster diagnosis of respiratory infectious diseases is another key factor that is anticipated to augment the respiratory infectious disease diagnostics market in the region. As per CDC statistics, in May 2020, the Real-Time Reverse Transcriptase (RT)-PCR Diagnostic Panel is efficient in detecting the SARS-CoV-2 virus in respiratory specimens. The USFDA also offered its Emergency Use Authorization (EUA) for this test in February 2020. These factors are expected to drive the growth of market in the forecast period.

Competitive Landscape

The global respiratory infectious disease diagnostics market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition Abbott Laboratories, Thermo Fisher Scientific Inc., Alere, Inc., Koninklijke Philips N.V., Cardinal Health, COSMED, Smiths Group plc, NIHON KOHDEN CORPORATION, Becton, Dickinson and Company, and F. Hoffmann-La Roche AG. are the leading market players with significant market share. The major players are using product development, novel product launches, market expansion, and product diversification strategies for holding their position in the market.  For instance, in August 2020, Novacyt an international specialist in clinical diagnostics, announces the launch of its CE-Mark approved polymerase chain reaction (PCR) respiratory test panel, Winterplex. The test panel is designed to be used on any open PCR platform, including the Company's rapid, portable q32 instrument.

The global respiratory infectious disease diagnostics market report will provide access to approximately 45+market data table, 40+figures and 180pages.

FAQ

What is the Growth Rate of the respiratory Infectious Disease Diagnostics Market?

Throughout the forecast period( 2022-- 2029) it's going to grow by a top CAGR of 1.6%.

What Companies Are Included in the respiratory Infectious Disease Diagnostics Market?

Abbott Laboratories, Thermo Fisher Scientific Inc., Alere, Inc., Koninklijke Philips N.V., Cardinal Health, COSMED, Smiths Group plc, NIHON KOHDEN CORPORATION, Becton, Dickinson, and Company, and F. Hoffmann-La Roche AG. are the leading market companies with significant market share

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