Rise in the prevalence of lung cancer and lung-related disorders, surge in the geriatric population, increase in the adoption of technologically advanced medical devices worldwide, spike in the demand for minimally invasive tests for lung diseases, growing R&D activity for pulmonary function testing devices, and mounting healthcare expenditures drive the growth of the global pulmonary function testing devices market. However, the high cost of medical devices and a lack of awareness regarding pulmonary tests among patients hamper the market growth. On the other hand, the emerging healthcare market in developing countries offer lucrative growth opportunity for the market.
According to the report published by Allied Market Research, Global Pulmonary Function Testing Devices Market Size Was Valued at USD 1.9 billion in 2021 and is Anticipated to Hit USD 3.5 billion by 2031, with a registered CAGR of 6.4% from 2022 to 2031.
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Global Pulmonary Function Testing Devices Market Segmentation –
Based on test type, the spirometry segment held the largest market share of nearly two-thirds of the global pulmonary function testing devices market in 2021, and is expected to maintain its dominance during the forecast period. Moreover, the same segment is projected to witness the largest CAGR of 7.0% from 2022 to 2031. The growth of the segment is due to an increase in the prevalence of asthma and other lung-related disorders across the world.
Based on application, the chronic obstructive pulmonary disease segment held the largest market share of nearly two-fifths of the global pulmonary function testing devices market in 2021, and is expected to maintain its dominance during the forecast period. Moreover, the same segment is projected to witness the largest CAGR of 7.3% from 2022 to 2031. This is due to the rise in the geriatric population and an increase in the prevalence of COPD among adults.
Pulmonary Function Testing Devices Companies: –
• Chest M.I Inc.
• Clarity Medical Pvt. Ltd.
• Cosmed srl
• Data Sciences International Inc.
• Eco Medics AG
• Geratherm Medical AG
• JK Medical System Pvt. Ltd.
• Medical Electronic Construction
• Medical Equipment Europe GmbH
• MGC Diagnostics Corporation
• Morgan Scientific Inc.
• NDD Medical Technologies Inc.
• Omron Corporation
• Pulm One Advanced Medical Devices Ltd.
• Schiller AG
• Koko LLC
• Vyaire Medical Inc.
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By Region Outlook
North America
⦁ U.S.
⦁ Canada
⦁ Mexico
Europe
⦁ UK
⦁ Germany
⦁ France
⦁ Italy
⦁ Russia
⦁ Rest of Europe
Asia-Pacific
⦁ China
⦁ Japan
⦁ India
⦁ Australia
⦁ Rest of Asia-Pacific
LAMEA
⦁ Brazil
⦁ UAE
⦁ Turkey
⦁ Saudi Arabia
⦁ Rest of LAMEA
Our Market Research Solution Provides You Answer to Below Mentioned Question:
- Which are the driving factors responsible for the growth of market?
- Which are the roadblock factors of this market?
- What are the new opportunities, by which market will grow in the coming years?
- What are the trends of this market?
- Which are main factors responsible for new product launch?
- How will each segment grow over the forecast period and how much revenue will these segments account for in 2031?
- How big is the global & regional market in terms of revenue, sales and production?
- Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
- Which region has more opportunities?
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