Market Trends of Global Respiratory Disease Testing Industry
This section covers the major market trends shaping the Respiratory Disease Testing Market according to our research experts:
In-vitro Diagnostics Tests Segment is Expected to Witness Growth Over the Forecast Period
In-vitro diagnostics tests are expected to show steady growth in the respiratory disease testing market. The major contributing factor to segment growth is the shift from traditional diagnostics to advanced diagnostics. Additionally, factors such as the rising prevalence of respiratory diseases and the increasing use of point-of-care (POC) diagnostics for respiratory disease diagnosis are major factors that are anticipated to drive the segment's growth over the forecast period.
IVD involves medical devices and consumables that are utilized to perform in vitro tests on various biological samples. They are used to diagnose various medical conditions, such as respiratory diseases and respiratory tract infections, among other diseases. According to the article published in February 2022 by Frontiers in Cellular and Infection Microbiology, there is an increasing incidence of respiratory tract infections (RTI) worldwide. Thus, the demand for disease diagnosis has increased. Additionally, as per the source mentioned above, technologies like microfluidics have been developed to be integrated into rapid and specific diagnostic tools. Also, Lab-on-a-chip (LOC) technologies evolved from single-task-based analysis into advanced integrated systems for complex work. These technologies are advancing the IVD segment and creating a demand for the tests performed. Thereby expected to drive the segment growth.
Moreover, the developments in the segment are acting as major contributors to the market growth. For instance, in September 2021, Roche launched three molecular polymerase chain reaction (PCR) diagnostic test panels to simultaneously detect and differentiate common respiratory pathogens. Therefore, such advancements in the segment are expected to fuel segment growth.
Therefore, owing to the factors mentioned above, the segment is expected to witness growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is one of the major contributors to the studied market, owing to increasing cases of COPD, asthma, and other respiratory tract infections (RTI) and growing geriatric populations prone to respiratory diseases.
The United States especially holds the largest share among the other countries in the region. According to the American Lung Association data updated in August 2022, COPD is a leading cause of disability in the United States, which affected more than 12.5 million people in 2021. Thus, COPD causes serious long-term disability and early death in the United States. This burden of the disease demand for availability of testing and diagnostics. Thereby driving the market growth.
Further, the data provided by Statistics Canada in September 2021 for health characteristics and annual estimates for asthma show an increase in 2020 from the previous years. The number of people affected by asthma increased to 2,802,700 in 2020. This burden of asthma in the country is expected to increase demand for early diagnosis of the disease. This is expected to drive the studied market growth in Canada, fueling the overall market growth in the region.
Moreover, major players in the market are focusing more on product innovation and development, collaborations, acquisitions, and mergers. For instance, in June 2022, BD (Becton, Dickinson, and Company) received CE marking for its BD MAX Respiratory Viral Panel (RVP), a new molecular diagnostic combination test for SARS-CoV-2, Influenza A + B, and Respiratory Syncytial Virus (RSV). The test uses a single nasal swab or a single nasopharyngeal swab sample to determine if a patient has COVID-19 or the flu, or RSV. This is expected to drive market growth in the region.
Therefore, owing to the aforesaid factors, North America is expected to dominate the market over the forecast period.
