The respiratory system is an arrangement of organs, responsible for providing oxygenated blood to the body tissues; it helps to remove unwanted carbon dioxide and waste gasses. The respiratory system includes air passages, pulmonary vessels, lungs, and breathing muscles. The respiratory system also helps to filter and to humidify the air. In addition to this, the respiratory system plays a prime role in homeostasis, stabilization of blood alkaline balance, regulate temperature and remove toxic waste. The study of respiratory disease is known as pulmonology. Some of the common diseases are like chronic obstructive pulmonary disease (COPD), asthma, acute respiratory distress syndrome, emphysema, pneumonia, and lung cancer. Respiratory disease tests such as bronchoscopy, chest fluoroscopy, lobectomy, lung biopsy, mediastinoscopy, pneumonectomy, and thoracentesis are available in the market for diagnosis of various respiratory disorders.
According to Zion market research, global respiratory system testing market was valued at around USD 2.6 billion in 2015 and it is expected to generate revenue worth of USD 3.1 billion by the end of 2021, growing at a CAGR of 3.6% in between 2016 to 2021. The dominance of this market is mainly due to increased occurrence of various respiratory diseases such as asthma, chronic obstructive pulmonary disease, emphysema, lung cancer, acute respiratory distress syndrome, and pneumonia. Chronic Obstructive Pulmonary disease (COPD) is a long-term serious disease which mainly affects older people, thus equipment used to diagnose this type of disease holds potential to flourish the market growth. Moreover, respiratory system testing market is also driven by technological advancement and unhealthy lifestyle with increasing consumption of cigarette and alcohol. However, the inferior adoption rate of digital radiography and portable spirometers may impede the growth of the respiratory system testing market. An untapped market of Asia-Pacific region and technology advancement may help to generate more revenue and opportunities for this market.
Respiratory system testing market is segmented based on the type, lung volume test, peak flow test, blood gas test, spirometry, kimaging test, and other tests. Imaging test type is expected to dominate the respiratory system testing market due to high demand and doctors preferred type for diagnosis of respiratory diseases. In imaging test type, especially X-ray is a most preferred application.
Based upon end users, respiratory system testing market is divided into clinical laboratories, hospitals, and physician offices. Hospital segment holds more than 50% share as compare to others, in hospitals respiratory diagnostic equipment and X-Ray machines are installed in large numbers.
The global respiratory disease testing market is segmented into North America, Europe, Asia-pacific and Latin America. In 2015, North America dominated respiratory system testing market due to increasing prevalence of respiratory diseases and increasing awareness for home healthcare service. In Asia-Pacific market is expected to grow at the fastest rate in coming days. European countries are also expected to maintain substantial growth due to rising health awareness.
Key Operating market leaders for respiratory disease testing market are like GE Healthcare, ndd Medical Technologies, Inc., Carestream Health, Inc., SDI Diagnostics, CareFusion Corporation, Perkin Elmer Inc., COSMED, Philips Healthcare, MGC Diagnostic Corporation, Smiths Medical Futuremed America, Inc. and Nihon Kohden Corporation among others.
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