The report examines the dynamics of the Respiratory Pathogen Testing market, aiming to assess its overall value. It delves into the factors that drive growth, impede progress, present opportunities, and pose threats. The valuation of different market segments and sub-segments relies significantly on these variables explored in the research. To ensure accuracy, the research adopts methodologies such as Porter’s Five Forces model, enabling the identification of potential risks and helping in the avoidance of unfavorable financial decisions.
Global Respiratory Pathogen Testing Market is valued at approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.00% over the forecast period 2022-2028. A respiratory pathogens (RP) panel examines the respiratory tract for pathogens. A pathogen is a disease-causing virus, bacterium, or another organism. The respiratory tract is made up of bodily components that help you breathe. Your lungs, nose, and throat are all affected. The increasing investments for respiratory diagnostics and rise in air pollution have led to the adoption of Respiratory Pathogen Testing across the forecast period.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
For Instance: on December 19, 2019, The National Institute of Allergy and Infectious Diseases (NIAID) announced the establishment of the Infectious Diseases Clinical Research Consortium. NIAID has decided to fund the Vaccine and Treatment Evaluation Units (VTEUs) program (approximately US$ 29 million per year) for seven years. Also, with the growing demand for home care and point-of-care diagnostic devices, high growth potential in developing Asia-Pacific countries, the adoption & demand for Respiratory Pathogen Testing is likely to increase the market growth during the forecast period. However, large underdiagnosed and undertreated population and lack of awareness impede the growth of the market over the forecast period of 2021-2027.
The key regions considered for the global Respiratory Pathogen Testing market study include Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading region across the world in terms of market share owing to the rising prevalence of respiratory diseases. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027. Factors such as numerous local players engaging in the manufacturing of respiratory pathogen testing kits would create lucrative growth prospects for the Respiratory Pathogen Testing market across Asia-Pacific region.
Major market players included in this report are:
Thermo Fisher Scientific Inc. (U.S.)
Abbott Laboratories
Danaher Corporation
Becton, Dickinson and Company
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Hoffmann-La Roche Ltd.
bioMerieux Inc.
Altona Diagnostics
MyLab
Philips Healthcare (Netherlands)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Diseases:
Tuberculosis
Asthma
Lung Cancer
Chronic Obstructive Pulmonary Diseases
Others
By End-Use:
Hospital Clinical Laboratories
Reference laboratories
Physician Offices
Others
By Region:
North America
U.S.
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Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Market Dynamics:
- Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
- Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
- Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
- Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
- Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
- Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
- Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
- Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
- Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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