Pulmonary Function Testing Market Growth and Restrain Factors Analysis Report 2022
As per latest data released by Market Research Future
(MRFR), the global market for pulmonary function testing (PFT) systems will
exhibit a strong CAGR of 8.20% CAGR from 2018 to 2023. Tests involved in
assessing pulmonary function are non-invasive and mainly performed to identify
respiratory issues. In recent years, issues related to respiration has
increased to a substantial level partly due to factors such as climate change,
rising air pollution and increased consumption of cigarette. PFT systems are
used for measuring lung volume, capacity, the rate of flow and gas exchange.
The information derived from the test are accurate and help in diagnosing certain
lung disorders as well as determining treatment or therapeutics for them.
Demand for PFT services has increased significantly thereby
driving the growth of the pulmonary
function testing systems market. Other factors that are reflecting
favourably on the market include rising prevalence of lung cancer, rapidly
expanding geriatric population, increased occurrence of obesity and increasing
healthcare expenditure. The EU-28’s standardised death rate for diseases of the
respiratory system was 78.3 deaths per 100 000 inhabitants in 2014. The rate of
pulmonary diseases has witness a considerable uptick, making PFT systems an
important medical device. However, these systems have a high price-tag, which
is hampering their penetration in developing countries.
Changing life style and environmental effects are making
individuals highly susceptible to various types of chronic diseases including
pulmonary diseases. This continues to create application opportunities for PFT
systems.
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Global Pulmonary Function Testing Systems Market:
Segmental Analysis
MRFR’s report include an in-depth segmental analysis of the
market based on type, test type, component, application, end-user, and region.
On the basis of type, the market is segmented into complete PFT systems and portable
PFT systems. The former will continue to outperform the later throughout the
assessment period. In 2017, the complete PFT system accounted for more than 53%
share of the market. The segment is projected to surge at 9.05% CAGR till 2023.
On the basis of test type, the market is segmented into spirometry, gas
exchange testing, lung volume, oxygen titration test, maximal voluntary
ventilation, and high-altitude simulation testing. Among these, the spirometry segment is
expected to remain highly lucrative over the next couple of years. The stood at
a market valuation of USD 649.6 million 2017 and is expected witness a
double-digit CAGR during the assessment period. Based on component, the market
has been segmented into software, hardware and service. The software segment in
expected to remain highly attractive over 2023. In 2017, the segment accounted
for over one-third share of the market.
Based on application, the market has been segmented into chronic
shortness of breath, chronic obstructive pulmonary disease, restrictive lung
disease, asthma. The chronic obstructive pulmonary disease segment currently
holds the top position and the trend is likely to continue beyond 2018. Based
on end-user, the market is segmented into diagnostics laboratories and hospital/clinical
laboratories. The hospital/clinical laboratories segment accounted for 42.3%
share of the market in 2017.
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Global Pulmonary Function Testing Systems Market:
Regional Analysis
In the report, the pulmonary function testing systems market
has been covered across regions such as North America, the Middle East &
Africa (MEA), South America, Europe and Asia Pacific (Asia Pacific). The market
in Americas is most lucrative and also makes a considerable contributes in
terms of revenue. In 2017, the Americas collectively accounted for 39.0% market
share followed by Europe and Asia-Pacific with 31.9% and 21.1% market share
respectively.
Global Pulmonary Function Testing Systems Market:
Competitive Landscape
Some of the prominent players that are currently operating
in the market include COSMED srl, Schiller, CHEST M.I.,Inc, Diagnostic
Corporation, Vyaire Medical, Inc, Medical Equipment Europe GmbH, ECO MEDICS AG,
ndd Medical Technologies, Medical Electronic Construction and MGC
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