2024-2033 Respiratory Devices And Equipment (Diagnostic) Market Forecast: Predicted Growth Rate and Market Size
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What is the Expected Growth Rate of the Respiratory Devices And Equipment (Diagnostic) Market from 2024 to 2033?
The respiratory devices and equipment (diagnostic) market has grown strongly, from $7.4 billion in 2023 to $8.02 billion in 2024, with a CAGR of 8.4%. Key growth drivers include the prevalence of chronic respiratory diseases, an aging population, smoking-related issues, environmental factors, and technological advancements.
The respiratory devices and equipment (diagnostic) market is expected to grow to $11.31 billion by 2028 at a CAGR of 9.0%. Growth will be driven by respiratory infections, personalized medicine, and telemedicine integration. Trends include pulmonary function testing, home respiratory monitoring, and AI in diagnostics.
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What Key Factors Are Fueling the Growth of the Respiratory Devices And Equipment (Diagnostic) Market?
The global respiratory devices market is expanding due to the increasing prevalence of respiratory diseases like chronic obstructive pulmonary disease (COPD). COPD, a major cause of death worldwide, particularly affects the elderly. According to WHO, COPD causes 3.23 million deaths annually. This rising burden of respiratory conditions is driving the demand for diagnostic devices and respiratory equipment.
What Are the Major Segments of the Respiratory Devices And Equipment (Diagnostic) Market?
1) By Product: Instruments And Devices, Assays And Reagents
2) By Test Type: Traditional Diagnostic Tests, Mechanical Tests, Imaging Tests, Molecular Diagnostic Tests
3) By Disease Type: Chronic Obstructive Pulmonary Disease, Lung Cancer, Asthma, Tuberculosis, Other Diseases
4) By End User: Hospital/Clinical Laboratories, Physician Offices, Reference Laboratories, Other End Users
What New Trends Are Transforming the Respiratory Devices And Equipment (Diagnostic) Market?
Companies in the respiratory devices market are investing in portable and wireless diagnostic respiratory devices. These devices are ideal for home care and can quickly diagnose respiratory rates and pulse rates. For instance, Tidal Medical Technologies received FDA approval in July 2021 for its InSee spirometer accessory, used in hospital settings to detect COVID-19 symptoms.
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Which Regions Are Driving Growth in the Respiratory Devices And Equipment (Diagnostic) Market?
Asia-Pacific was the largest region in the respiratory devices and equipment (diagnostic) market in 2023. North America was the second largest region in the respiratory devices and equipment (diagnostic) market. The regions covered in the respiratory devices and equipment (diagnostic) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Respiratory Devices And Equipment (Diagnostic) Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the respiratory devices and equipment (diagnostic) market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Respiratory Devices And Equipment (Diagnostic) Market Include
1. Respiratory Devices And Equipment (Diagnostic) Market Executive Summary
2. Respiratory Devices And Equipment (Diagnostic) Market Segments
3. Respiratory Devices And Equipment (Diagnostic) Market Size And Template Market Growth Rate
4. Key Respiratory Devices And Equipment (Diagnostic) Market Trends
5. Major Respiratory Devices And Equipment (Diagnostic) Market Drivers
……
25. Key Mergers And Acquisitions In The Respiratory Devices And Equipment (Diagnostic) Market
26. Top Respiratory Devices And Equipment (Diagnostic) Companies
27. Respiratory Devices And Equipment (Diagnostic) Market Opportunities And Strategies
28. Respiratory Devices And Equipment (Diagnostic) Market, Conclusions And Recommendations
29. Appendix
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