Respiratory diseases are the conditions the impacts of which are increasing continually because of air pollutions. They characterize a key cause of mortality and morbidity among all age groups across the world. The 5 respiratory diseases making up a huge burden to society are asthma, tuberculosis, acute respiratory infections, chronic obstructive pulmonary disease, and lung cancer. The global respiratory diagnostics market is projected to flourish rapidly owing to the rising incidence of respiratory diseases across the globe. Further, technological improvement in respiratory diagnostic testing, rise in the need for respiratory devices within private clinics & hospitals, increase in elderly population suffering from respiratory conditions, urbanization, high rate of smoking & tobacco consumption, escalated levels of pollution, deskbound lifestyle are few other aspects propelling the expansion of global respiratory diagnostics market.
In addition, numerous technological advancements in respiratory diagnostic testing, comprising the use of Artificial Intelligence (AI) and Internet of Things (IoT) for the outpatient management and COPD diagnosis, are generating a constructive influence on the market expansion. Nevertheless, elevated cost related to testing & diagnosis, reimbursement concerns, and stringent regulatory requirements are factors expected to hamper the growth of the respiratory diagnostics market. Apart from this, dearth of attentiveness and the existence of a huge undertreated and underdiagnosed population are other key challenges faced by the market.
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Numerous initiatives are taken by the government to spread the awareness about treatment and prevention of respiratory diseases among the people. The key players within the market are focusing on clinical trials, new product launches, R&D, through joint ventures, agreements, acquisitions, and partnerships, with other players. To cite, in April 2020, a global leader in consumer dispensing, drug delivery, and active packaging solutions and services, AptarGroup, Inc. has declared of collaborating with a leading Chinese digital respiratory therapeutics firm, Sonmol, for creating a digital therapies and services platform aiming respiratory and other diseases.