The Global Respiratory Disease Testing Market Predicted to Reach $4.2 Billion by 2030
2023-08-23
DUBLIN, Aug. 23, 2023 /PRNewswire/ -- The "Respiratory Disease Testing - Global Strategic Business Report" report has been added to
ResearchAndMarkets.com's offering.
The global market for Respiratory Disease Testing, previously estimated at US$3.1 billion in 2022, is projected to undergo substantial expansion, reaching a revised size of US$4.2 billion by 2030.
This growth is anticipated to occur at a steady Compound Annual Growth Rate (CAGR) of 3.9% over the analysis period from 2022 to 2030. The Imaging segment is expected to play a significant role in this growth, projected to achieve a CAGR of 4.5% and reach a market value of US$1.4 billion by the end of the analysis period.
Furthermore, the Lung Volume segment, considering the ongoing post-pandemic recovery, is expected to experience a revised CAGR of 3.8% over the next eight years.
Regional Analysis
In the global context, the United States holds a prominent position in the Respiratory Disease Testing market, estimated at US$842.9 million in 2022. Meanwhile, China, the world's second-largest economy, is forecasted to exhibit robust growth, projecting a market size of US$873.8 million by the year 2030, driven by a CAGR of 6.3% from 2022 to 2030.
Other noteworthy geographic markets include Japan and Canada, both expected to grow at 2.3% and 3.3% respectively during the period from 2022 to 2030. Additionally, Germany, a key player within Europe, is projected to achieve a CAGR of approximately 2.8%.
The analysis offers a comprehensive evaluation of the global healthcare diagnostics market, with a focus on hospitals, clinical laboratories, physician offices, and various testing methods related to respiratory diseases.
Encompassing the years from 2014 to 2030, the report includes insights into annual sales figures in US$ million, percentage CAGR, and market share for different geographic regions including the USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
Market Overview
The report provides an encompassing overview of the Respiratory Disease Testing market, delving into market trajectories, the influence of global events such as Covid-19, key competitor market shares, and a competitive presence assessment across multiple geographies.
Conclusion
With a projected CAGR of 3.9% and reaching a market value of US$4.2 billion by 2030, the global Respiratory Disease Testing market exhibits notable growth prospects.
As healthcare diagnostics continue to evolve, advanced testing methods for respiratory diseases play a crucial role in facilitating early detection and effective management. As the medical landscape evolves, innovation in respiratory disease testing is anticipated to contribute to improved patient care and outcomes.
Select Competitors (Total 12 Featured)
Siemens Healthineers
Key Attributes:
For more information about this report visit https://www.researchandmarkets.com/r/6a1752
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