DUBLIN, Nov 23, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Respiratory Diagnostics Market by Product & Service, Test Type, Disease, End User - Global Forecast to 2021" report to their offering.
The global respiratory diagnostics market is projected to reach USD 7.45 Billion by 2021 from USD 5.24 Billion in 2016, at a CAGR of 7.3% from 2016 to 2021. In this report, the global market is broadly segmented by product and service, test type, disease, end user, and region. Increasing prevalence of respiratory diseases, growing geriatric population, and technological advancements in respiratory diagnostic systems are the major factors driving the growth of the global market. On the other hand, rising healthcare costs (a major factor limiting the use of novel respiratory diagnostic techniques) and reimbursement concerns are the major factors restraining the growth of the market. On the basis of product and service, the respiratory diagnostics market is segmented into instruments & devices, assays & reagents, and software & services. The instruments and devices segment is expected to account for the largest share of the market in 2016. The continuous requirement of diagnostic instruments and devices in laboratories, point-of-care, and home care is a major factor driving the uptake of instruments and devices. On the basis of test type, the respiratory diagnostics market is broadly classified into mechanical tests, imaging tests, traditional diagnostic tests, and molecular diagnostic tests. In 2016, the traditional diagnostic tests segment is expected to account for the largest share of the market. The large share of this segment can be primarily attributed to the quick turnaround time of these tests.