The Template Global Market Report 2023, provides comprehensive information on the respiratory disease testing market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Template Global Market Report 2023, the market size is expected to grow from $3.26 billion in 2022 to $3.42 billion in 2023 at a compound annual growth rate (CAGR) of 4.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The global respiratory disease testing market size is expected to reach $4.07 billion in 2027 at a CAGR of 4.4%.
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Technological advancements are a key trend gaining popularity in the respiratory disease testing market. Major companies operating in respiratory disease testing are focused on developing artificial intelligence and machine learning technologies to optimize treatment protocols and improve patient outcomes to strengthen their position in the market. For instance, in March 2022, Respira Labs, a US-based healthcare technology company, launched an AI-powered wearable device called Sylvee for monitoring lung function. The device is designed to be worn as a chest strap and uses AI and machine learning algorithms to analyze data from multiple sensors that measure breathing rate, volume, and patterns. It can help with the early diagnosis and management of chronic obstructive pulmonary disease (COPD), asthma, and COVID-19, and the device uses advanced AI algorithms to analyze breath sounds and provide real-time feedback on lung function.
The respiratory disease testing market is segmented:
1) By Test Type: Imaging Tests, Mechanical Tests, In-Vitro Diagnostic Tests
2) By Products: Lung Volume, Imaging, Spirometry, Peak Flow, Blood Gas, Other Products
3) By Application: Chronic Obstructive Pulmonary Disease, Lung Cancer, Asthma, Tuberculosis Female, Other Application
4) By End-User: Hospitals, Physician clinics, Clinical laboratories, Other End-User
North America was the largest region in the respiratory disease testing market in 2022.
The table of contents in TBRC’s respiratory disease testing market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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