The respiratory devices and equipment (diagnostic) market consist of sales of diagnostic respiratory devices and equipment and related services by entities (organizations, sole traders, and partnerships) that manufacture respiratory devices and equipment. Respiratory devices and equipment are used in the diagnosis of respiratory disorders such as asthma, cystic fibrosis, and chronic obstructive pulmonary disease. Only goods and services traded between entities or sold to end consumers are included.
The global respiratory devices and equipment (diagnostic) market is expected to decline from $6.09 billion in 2019 to $5.8 billion in 2020 at a compound annual growth rate (CAGR) of -4.65%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $7.37 billion in 2023 at a CAGR of 8.29%.
