Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Respiratory diagnostic is the process of determining the diseases related with lung or respiratory system. The respiratory diagnostic products and techniques are widely used across the globe to diagnose respiratory diseases such as asthma, COPD, lung cancer, TB, and many others. It is performed by various healthcare professionals, healthcare scientist and physician assistant in healthcare settings such as hospital, clinical laboratories, physician offices and many other laboratories.
The Asia Pacific respiratory diagnostic market has been driven by several growth factors. These factors include the rising number of diagnostic centers, hospitals, and small and medium clinics across the countries such as India and China, rapid growth in the healthcare industry across the region, entry of prominent diagnostic device manufacturing companies, rising urbanization and industrialization, and ever-increasing population and rising old age population of the region. However, lack of awareness regarding advanced respiratory diagnostic devices is major restraining factor that could hinder the market growth.
The study analyses Asia Pacific respiratory diagnostics market based on product & service, test type, disease, end user and geography.
By product and service, assays and reagents is the fastest growing segment of the APAC respiratory diagnostic market. Assays & reagents are used to identify and detect a number of respiratory pathogens. A surge in the adoption and production of assays and reagents to avoid acute respiratory pathogen infections and growing requirement for assays and reagents with benefits such as better outcomes, greater efficiency, and lower costs are major impelling factors behind the growth of this segment.
Based on test type, imaging test segment dominated the market in the past few years and is expected to witness fast growth during the forecast period. An increasing adoption of imaging tests such as chest x-ray, CT scan, MRI, PET and many others for the diagnosis of respiratory and lung related diseases owing to their benefits such as high spatial resolution, high sensitivity, high-speed workflow, high contrast resolution, and many others is attributed to the growth of this segment.
By disease, chronic obstructive pulmonary disease (COPD) segment dominated the market in 2020 and is likely to maintain its dominance during the forecast period. The major cause of COPD is breathing in pollutants, smoking, chemicals or dust can also be the cause. The key factors driving the growth of COPD segment in the APAC respiratory diagnostic market are rising number of smokers across the countries such as China and India and increasing prevalence rate of this respiratory diseases across the region. In addition, growing demand from geriatric population for advanced products to diagnose COPD with more comfort is further driving the growth of the segment.
Physician offices end user segment of the APAC respiratory diagnostic market is likely to witness fast growth at a highest growth rate during the forecast period. The major role of physician office is to provide advance level of care and treatment to patients by earlier diagnosis and treatment. A surge in the demand for physician services by the elderly population of the region is likely to contribute to the growth of this segment.
Country wise, the study is comprised of the key countries such as China, India, Japan and rest of the Asia Pacific. China followed by India held the largest market share of Asia Pacific respiratory diagnostics market and is expected to lead the market over the estimated timeframe. Growing prevalence rate of TB and asthma in China and India and increasing demand and production of locally manufactured diagnosis instruments such as CT scan, spirometers, and many others are key driving factors behind the market growth. For instance, according to World Health Organization, China and India were among the top eight high TB burden countries in 2019.
The major key players of market includes Abbott Laboratories, Alere Inc, Becton, Dickinson & Company, Biomérieux, Bio-Rad Laboratories, Inc, Cosmed, Philips Healthcare, Sdi Diagnostics, Seegene Inc, Thermo Fisher Scientific Inc, ResMed, Fischer & Paykel, MGC Diagnostics Corporation and Subsidiaries, and CAREstream Medical, Ltd among others.
The study analyses Asia Pacific respiratory diagnostics market based on product & service, test type, disease, end user, and geography. Respiratory diagnostics market by product & service is segmented into instruments & devices, assays & reagents, and services & software. The instruments & devices segment is likely to dominate the market over the forecast period. Increased adoption of advanced instruments & devices for the diagnosis of respiratory diseases is attributed to the market growth. By test type, the market is segmented into imaging tests, mechanical tests, molecular diagnostic tests, and traditional diagnostic tests. Imaging test is witnessing fastest growth owing to the rising adoption of imaging based machines such as CT scan and x-ray. Based on disease, market is segmented into asthma, chronic obstructive pulmonary disease, lung cancer, tuberculosis, and other diseases. The chronic obstructive pulmonary disease segment is likely to register fastest growth in years to come owing to the growing prevalence rate across the globe. And by end user market is categorized into hospital/clinical laboratories, physician offices, reference laboratories, and other end users. Country wise, the study is comprised of China, India, Japan and rest of the Asia Pacific.
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