Global Diagnostic Respiratory Devices And Equipment Market To Reach Value Of About $9 Billion In 2025
28 Sep, 2021
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.
Global Respiratory Devices And Equipment (Diagnostic) Market Size And Drivers:
The global diagnostic respiratory devices and equipment market is expected to grow from $5.80 billion in 2020 to $6.23 billion in 2021 at a compound annual growth rate (CAGR) of 7.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $8.58 billion in 2025 at a CAGR of 8%. 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.
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Trends In The Global 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. For instance, in 2019, the US Food and Drug Administration approved MediPines Corporation's non-invasive portable medical device, which provides clinicians with real-time pulmonary parameters and insights to support rapid triage and treatment decisions for respiratory conditions.
Global Respiratory Devices And Equipment (Diagnostic) Market Segments:
The global respiratory devices and equipment market is further segmented –
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.
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https://www.thebusinessresearchcompany.com/report/respiratory-devices-and-equipment-diagnostic-global-market-report-2020-30-covid-19-growth-and-changeRespiratory Devices And Equipment (Diagnostic) Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides respiratory devices and equipment (diagnostic) market overviews, analyzes and forecasts market size and growth for the global respiratory devices and equipment (diagnostic) market, respiratory devices and equipment (diagnostic) market share, respiratory devices and equipment (diagnostic) market players, respiratory devices and equipment (diagnostic) market segments and geographies, respiratory devices and equipment (diagnostic) market’s leading competitors’ revenues, profiles and market shares. The respiratory devices and equipment (diagnostic) market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.