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Breath Biopsy Testing Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The breath biopsy testing market size is expected to see strong growth in the next few years. It will grow to $4.26 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%” - The Business Research Company
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How Has The Breath Biopsy Testing Market Evolved And What Is Its Expected Growth?
The breath biopsy testing market size has surged considerably in recent years, marking its presence more prominently in the global healthcare landscape. As of the latest data, it's slated to grow from $2.96 billion in 2023 to $3.18 billion in 2024, reflecting a strong compound annual growth rate CAGR of 7.3%. The growth during the historic period can primarily be ascribed to supportive government programs, shifts towards non-invasive diagnostics, escalating consumer awareness about preventive healthcare, increasing use in oncology research, and a growing application spectrum in managing metabolic disorders.
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What Is The Projected Growth And Market Size Of The Breath Biopsy Testing Industry?
The breath biopsy testing market size is anticipated to witness strong growth in the ensuing years, riding on modern healthcare facilities' tails and changing patient preferences. As per latest projections, it is estimated to expand to $4.26 billion in 2028, reflecting a promising compound annual growth rate CAGR of 7.6%. The forecasted growth period can mainly be credited to rising incidences of respiratory diseases, growing awareness regarding early disease detection, expansion of clinical research and trials, a rising geriatric population, and an increasing prevalence of infectious diseases.
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What Drives The Growth Of The Breath Biopsy Testing Market?
The rising prevalence of respiratory diseases is set to fuel the growth of the breath biopsy testing market going forward. Respiratory diseases encompass medical conditions that affect a person's lungs and airways, inhibiting efficient breathing. The growing rate of such diseases has been attributed to increasing environmental pollution, higher smoking rates, and the rising prevalence of chronic conditions like asthma and chronic obstructive pulmonary disease COPD. Breath biopsy testing, being a non-invasive, rapid, and potentially more precise method of detecting biomarkers associated with such diseases, plays a crucial role in their early diagnosis and management. For instance, in November 2023, according to a report published by the US-based Centers for Disease Control and Prevention, the United States reported approximately 8,331 tuberculosis cases in 2022, marking a 5.9% increase from 2021. The incidence rate rose to 2.5 cases per 100,000 people, denoting a 5.5% increase compared to the previous year.
Who Are The Key Players In The Breath Biopsy Testing Market?
Leading companies operating in the breath biopsy testing landscape include Drägerwerk AG & Co. KGaA, Intoximeters Inc., Owlstone Medical Ltd., SKC Inc., Lifeloc Technologies Inc., Alcolizer Pty Ltd., Breathomix, Aerocrine AB, Bedfont Scientific Ltd., AK GlobalTech Corp., Alveo Technologies Inc., Andatech Pty Ltd., BACtrack, Biosensia Ltd., Ionicon, Ketonix AB, Lion Laboratories Limited, Menssana Research Inc., Microplex Inc., Quest Products Inc., Rapid Biosensor Systems Ltd., RoboScientific Ltd., and Spirosure.
What Are The Trends And Innovations In The Breath Biopsy Testing Market?
The breath biopsy testing market is witnessing an influx of innovations and trends, transforming the way the industry operates. Prime companies within this space are concentrating on the development of breakthrough products, such as breath analyzers, to detect diseases like asthma. Breath analyzers are diagnostic tools that detect and measure specific compounds in a person's breath to identify various health conditions. For instance, in May 2023, GenWorks, an India-based healthcare solutions provider, unveiled the FenomPro breath analyzer. The FenomPro breath analyzer stands out with its quick FeNO testing capability, delivering accurate results in just 28 seconds. Designed for ease of use in clinical settings, the device assists in accurate assessments, diagnosis, screening, and monitoring of asthma, making it a valuable tool for healthcare providers.
How Is The Breath Biopsy Testing Market Segmented?
The breath biopsy testing market report segments the market into –
1 By Type: Volatile Organic Compound Analyzers, Breath Biopsy Kits, Breath Sampler, and Other Types
2 By Technology: Fuel cell Technology, Semiconductor Sensor, InfraredIR Spectroscopy, and Other Technologies
3 By Application: Hospitals, Clinics, Diagnostic Laboratories, and Other Applications
What Are The Regional Insights Into The Breath Biopsy Testing Market?
Regionally, North America reigned as the largest market for breath biopsy testing in 2023, and Asia-Pacific is expected to be the fastest-growing region throughout the forecasted period. The breath biopsy testing market report provides detailed regional analysis, encompassing Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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