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.
Many people around the globe are experiencing harmful respiratory disorders such as asthma, chronic obstructive pulmonary disease, lung cancer, lung infections, tuberculosis and many others. The prevalence rate of these diseases are continuously increasing. Thus to reduce the rising cases of respiratory diseases and to determine the symptoms or the particular diseases of the patient respiratory diagnostics techniques and products are widely used across the globe by the healthcare professional and the physicians. Respiratory diagnostic can detect the suspected patient with the respiratory diseases.
The Europe respiratory diagnostic market has been seen remarkable growth from the past few years. The major driving factor behind the market growth in the region is rapid growth in the European medical imaging and healthcare industry. Likewise, factors such as the massive existence of several renowned medical technology companies, mounting prevalence rate of asthma along children as well as adults, growing number of smokers and alcohol consumers, ever-changing eating habits of the European population, and rapid growth of the medical devices market in several European countries are likely to improve growth of the market across the region.
The study analyses Europe respiratory diagnostics market based on product & service, test type, disease, end user and geography.
By product & service, instrument and device segment is expected to see rapid growth during estimated timeframe. Growing concerns about infectious viruses such as COVID-19, increasing development of devices to diagnose respiratory diseases, and rising investment in the research and development of these devices by various medical technology companies are flourishing the growth of the instrument and devices segment across the region.
By test type, imaging test segment held the largest market share of the Europe respiratory diagnostic market. Alternatively, molecular diagnostic test segment is likely witness fast growth at highest growth rate over the forecast period. A growing use of molecular diagnostic test such as PCR diagnostic tests for the detection of various respiratory pathogens such as novel coronavirus is anticipated to contribute to the healthy growth of this segment.
Lung cancer segment held the second-largest market share of the Europe respiratory diagnostic market. Increasing prevalence of lung cancer in both male and female and growing number of deaths owing to the lung cancer is major driving factor behind the growth of this segment. Likewise, factors such as increased demand for diagnosis and early disease screening, rising prevalence of smoking and exposure to secondhand smoke, and increasing awareness levels among the population are expected to boost growth of this segment.
On the basis of end user, hospital/clinical laboratories segment is likely to experience rapid growth during the forecast period. Hospital/clinical laboratories are healthcare facilities that provides a wide range of laboratory procedures that assist physicians in the diagnosis, treatment and management of patients. The primary role of hospital and clinical laboratory is emphasized mostly in medical care system for supporting the clinical diagnosis at a curative result in a hospital service. Therefore, rising number of hospitals as well as clinical laboratories across the Europe region is improving the growth of this segment.
Country wise, the study is comprised of the key countries such as the UK, Germany, France, Italy, Spain and rest of the Europe. Germany held the largest market share of Europe respiratory diagnostic market and is likely to dominate the market over the estimated timeframe. Factors such as ever increasing research and development activities across the country, growing funding in the field of science and engineering, and growing initiatives by the country in disease management sector are attributed to the growth of the market across the country.
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 Europe 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 the UK, Germany, France, Italy, Spain and rest of the Europe.
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