Global Respiratory Devices And Equipment (Diagnostic) Market To Reach Value Of About $7.4 Billion In 2023

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%. The increasing prevalence of various respiratory diseases contributed to the global respiratory devices and equipment market’s growth by increasing the use of diagnostic devices and equipment for diagnosis and treatment. However, stringent regulatory practices are expected to negatively impact the growth of diagnostic respiratory devices in the forecast period.

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.

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The global diagnostic respiratory devices and equipment market is further segmented based on type and geography.
By Product: Instruments And Devices, Assays And Reagents
By Test Type: Traditional Diagnostic Tests, Mechanical Tests, Imaging Tests, Molecular Diagnostic Tests
By Disease Type: Chronic Obstructive Pulmonary Disease, Lung Cancer, Asthma, Tuberculosis, Other Diseases
By End User: Hospital/Clinical Laboratories, Physician Offices, Reference Laboratories, Other End Users.
By Geography: The global diagnostic respiratory devices and equipment market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American diagnostic respiratory devices and equipment market accounts for the largest share in the global diagnostic respiratory devices and equipment market.

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Trends In The Respiratory Devices And Equipment (Diagnostic) Market
Companies in the market are increasingly investing in portable and wireless diagnostic respiratory devices. The trend is being driven by the ease of handling, cost-effectiveness, advanced features of these devices, and their suitability for use at home care organizations. Innovative technology-enabled portable respiratory devices are being launched into the market, which unlike traditional devices, can be used for immediate diagnosis of vital signs, for example, the patients’ respiratory rate and the pulse rate.
Respiratory Devices And Equipment (Diagnostic) Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides diagnostic respiratory devices and equipment market overviews, analyzes and forecasts diagnostic respiratory devices and equipment market size and growth for the global diagnostic respiratory devices and equipment market, diagnostic respiratory devices and equipment market share, diagnostic respiratory devices and equipment market players, diagnostic respiratory devices and equipment market size, diagnostic respiratory devices and equipment market segments and geographies, diagnostic respiratory devices and equipment market trends, diagnostic respiratory devices and equipment market drivers and diagnostic respiratory devices and equipment market restraints, diagnostic respiratory devices and equipment market’s leading competitors’ revenues, profiles and market shares. The diagnostic respiratory devices and equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.