The sudden emergence of the COVID-19 disaster has positively affected the global respiratory disease testing market growth in 2020. This is mainly due to a rise in the need for respiratory disease testing systems during the COVID-19 catastrophe.
"Coronavirus has positive impact on Respiratory Disease Testing Market - Analyst at Research Dive"
PUNE, India, Sept. 8, 2020 /PRNewswire/ -- A new report on the Global Respiratory Disease Testing Market has been published by Research Dive. The report caters clear insights on the impact of COVID-19 pandemic on the present and upcoming growth of the global industry, by considering important factors such as key drivers & restraints, regional market situations, latest trends & developments, and size & scope of the market during the pandemic period.
Factors Boosting the Market Growth amidst COVID-19 Pandemic
The global respiratory disease testing market is projected to experience substantial growth owing to the rising demand for respiratory disease testing systems as patients with respiratory disorders are at greater risk of getting infected by COVID-19 disease. Moreover, numerous foremost industry players in this sector are taking initiatives to boost their production of respiratory disease testing devices.
Highlights of the Report
- The CAGR of the respiratory disease testing market, as projected before the outburst of the COVID-19 pandemic, was 8.4% during the estimated period, 2020-2026.
- The CAGR of the global industry, as estimated post the inception of the COVID-19 crisis, is expected to be 9.2% throughout the estimated timeframe, 2020-2027.
- The size of the respiratory disease testing industry in 2020, as estimated before the beginning of the COVID-19 pandemic, was $10.6 billion.
- The present market size (2020), tolerating the after-effects of the coronavirus pandemic, is $10.8 million. Get Access to COVID-19 Impact Analysis Sample Report [80 pages]
Current State of the Market due to COVID-19 Crisis:
Some of the top players in the respiratory disease testing industry are profoundly investing in the development of advanced respiratory disease testing devices during the pandemic. For instance, in July 2020, SIME, a Medical AI company focused on developing rapid ICU diagnostics techniques, has developed and completed clinical research of world's 1st predictive test for neonatal chronic lung disease (CLD). With the help of this newly invented digital test, clinicians will be capable of screening CLD at birth and offer early targeted treatment for the disease.
Additionally, governments in various COVID-19 infected regions are supporting the market players to withstand during the coronavirus turmoil. For example, in March 2020, the Biomedical Advanced Research and Development Authority (BARDA) has approved about $679,000 to DiaSorin Molecular, LLC., for developing the Simplexa COVID-19 Direct Assay, along with about $598,000 to QIAGEN LLC., for swiftly developing the QIAstat-Dx RPS2 test for the COVID-19 disease.
Future Scenario of the Industry:
As per the report, the global respiratory disease testing market is projected to perceive ceaseless growth after the end of coronavirus disaster.
Top 10 companies in Global Respiratory Disease Testing Industry:
- Koninklijke Philips N.V.
- BD.
- CARESTREAM MEDICAL.
- Thermo Fisher Scientific Inc.
- SDI Diagnostics
- bioMérieux SA
- ResMed
- COSMED srl
- Abbott.
- Seegene Inc.
Many others are projected to transform the future of the global respiratory disease testing market in the coming years.
The report offers several strategies and tactics of the leading players functioning in the market such as the latest strategic plans & developments, financial performance, product portfolio, and SWOT analysis. Quick Download Top Companies Development Strategies Summary Report [75 pages]
Interesting to read:
Various Methods of Respiratory System Testing
Supportive Government Approvals, During The Outbreak Of Covid-19 Pandemic, To Promote The Respiratory Disease Testing Market
Increasing Cases of Respiratory Disorders to Boost the Demand for Oxygen Cylinder and Concentrators
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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