Market Overview:
The Global Pulmonary Function Testing Systems Market size is expected to grow from USD 141.8 Million in 2022 to USD 260.52 Million by 2030, at a CAGR of 7.9% during the forecast period (2023-2030).
Pulmonary function tests are non-invasive tests that determine how well the lungs work. The tests measure lung volume, gas exchange, and rates of flow. This test helps physicians and healthcare workers to diagnose and decide the treatment of lung disorders. Lungs perform the function of the pulmonary. This involves breathing in air through the nasal passages leading to the lungs taking in oxygen from the blood that travels to other parts of the body and exhaling carbon dioxide as waste through the nasal passages.
Top Key Players for Pulmonary Function Testing Systems Market:
MGC Diagnostics Corporation (US), Morgan Scientific Inc. (US), Omron Healthcare Inc (Japan), Cosmed Srl (Italy), Ganshorn Medizin Electronic (Germany), ndd Medizintechnik AG (Switzerland), Schiller AG (Switzerland), Vyaire Medical, Inc (US), Minato Holdings Inc. (Japan), Eco Medics Ag (Switzerland), Chest M.I., Inc (Japan), Koninklijke Philips N.V. (Netherlands), PulmOne Advanced Medical Devices (Israel), KoKo PFT (US), and Other Major Players
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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.
Market Dynamics and Factors for Pulmonary Function Testing Systems Market:
Drivers:
Increasing Prevalence of The Lung-Related Disorder
The increasing prevalence of lung cancer and lung-related disorders boosts the market growth. For instance, according to World Cancer Research World Fund International, lung cancer is the second-most common cancer around the world. There were more than 2.2 million new cases of lung cancer in 2020. Moreover, an increase in air pollution which leads to breathing problems drives the market growth.
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Opportunities:
Technological Advancement and Innovation in Technology
The excessive consumption of tobacco in the form of cigarettes and the use of this test to ensure lung health and the infection-free nature of the body's airways are driving the growth of the pulmonary function testing market. As awareness of the systematic examination of a patient's lung health through chest x-rays, physical tests, arterial blood gas analysis, and examination of the patient's habits and medical history has increased, so has a concern about lung damage that can affect normal lung function. Life and the need to limit their impact and severity are also influencing the pulmonary function testing market. In addition, improvements in healthcare infrastructure, growth in research and development, and growth in healthcare costs are positively affecting the pulmonary function testing market growth.
Segmentation Analysis of the Pulmonary Function Testing Systems Market:
By Type, the complete PFT systems segment held the highest pulmonary function testing system market share and was predicted to extend at a significant CAGR during the forecast period, 2022-2029. An increase in the number of hospitals requiring complete systems is expected to drive segmental growth. Moreover, the surging number of patient visits coupled with the huge occurrence of respiratory illness, such as asthma and COPD, are expected to increase the demand for complete systems.
By End Users, the hospitals segment held the largest market share and is expected to expand at a moderate CAGR during the forecast period. The segmental growth is due to the surging footfalls of asthma and COPD patients in the hospitals. Moreover, the growing adoption of complete systems for diagnosing patients in hospitals is expected to drive the segment's growth in the coming years.
By Type
· Portable PFT Systems
· Complete PFT Systems
By Test
· Gas Exchange Testing
· Oxygen Titration Test
· Spirometry
· Lung Volume
· Others
By Application
· Restrictive Lung Disease
· Chronic Obstructive Pulmonary Disease
· Asthma
· Other
By End-Users
· Hospitals
· Clinical Laboratories
· Diagnostics Laboratories
· Other
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Regional Analysis of the Pulmonary Function Testing Systems Market:
In North America advanced medical infrastructure and the high disposable income of consumers increase the growth in pulmonary function testing systems can boost the market growth. In this region well, developed healthcare infrastructure as well as the rising prevalence of pulmonary disorders and respiratory diseases drives the market growth in this region.
· North America (U.S., Canada, Mexico)
· Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
· Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
· Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
· South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
In May 2022, MGC Diagnostics announced a global distribution agreement with Bedfont Scientific Ltd. MGC Diagnostics, a global medical technology company dedicated to cardiorespiratory health solutions and products focused on physician offices, laboratories, hospitals, and universities has partnered with UK med-tech company, Bedfont Scientific Ltd., a world leader in breath analysis, whose portfolio includes the NObreath fractional exhaled nitric oxide test monitor for use in the hospital or at remote locations.
In November 2021, Cipla launched Spirofy, its wireless, portable device capable of performing lung function tests outdoors and in remote areas in India, with the hope of better-diagnosing people with chronic obstructive pulmonary disease (COPD) and asthma.
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