5 Key Insights On The Respiratory Devices And Equipment (Diagnostic) Market 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Respiratory Devices And Equipment (Diagnostic) Global Market Report 2023, the respiratory devices and equipment (diagnostic) market is expected to show significant growth in the forecast period.
Key insights from the respiratory devices and equipment (diagnostic) market forecast include:
- Market Size
The worldwide diagnostic respiratory devices and equipment market will increase from $6.93 billion in 2022 to $7.51 billion in 2023, with an 8.3% CAGR. By 2027, the market size is anticipated to reach $10.22 billion, growing at an 8.0% CAGR.
- Major Driver
Rising respiratory disease prevalence boosts the global diagnostic respiratory devices and equipment market. Conditions like COPD are more common in older adults, causing persistent breathing issues. As of June 2021, COPD ranked as the third-leading cause of global deaths per the World Health Organization, with approximately 3.23 million deaths attributed to it. This increased case load drives demand for diagnostic devices and equipment, fostering the respiratory devices and equipment (diagnostic) market growth.
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- Key Trend
Companies are increasingly investing in portable, wireless diagnostic respiratory devices due to their convenience, cost-efficiency, advanced features, and suitability for home care. Innovative tech-enabled portable devices allow immediate vital sign diagnosis, including respiratory and pulse rates. In July 2021, Tidal Medical Technologies gained U.S. FDA approval for its InSee incentive spirometer accessory to detect COVID-19 symptoms in hospitals.
- Largest Region
Asia-Pacific was the largest region in the respiratory devices and equipment (diagnostic) market in 2022.
- Major Players
Major players in the food diagnostics market are ResMed. Inc., Medtronic PLC., Massimo Corporation, Fisher & Paykel Healthcare Limited, Koninklijke Philips N.V, Smiths Medical, GE Healthcare, Chart Industries, Philips Healthcare, and Becton Dickinson and Company.
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Key Respiratory Devices And Equipment (Diagnostic) Market Segments
The global respiratory devices and equipment (diagnostic) market is segmented –
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
The Respiratory Devices And Equipment (Diagnostic) Global Market Report 2023 provides an in-depth analysis on the respiratory devices and equipment (diagnostic) market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the respiratory devices and equipment (diagnostic) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
View More Related Reports –
Respiratory Devices And Equipment (Therapeutic And Diagnostic) Global Market Report 2023
Respiratory Devices And Equipment (Therapeutic) Global Market Report 2023
Respiratory Disposables Global Market Report 2023
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