Pulmonary Function Testing Systems Market 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.
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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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.
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
Global Pulmonary Function Testing Systems Market: Segmental Analysis
The global pulmonary function testing systems market has been segmented on the basis of type, test type, component, application, end-users, and region.
By mode of type, the global pulmonary function testing systems market has been segmented into portable PFT systems, complete PFT systems, and others. Among these, the complete PFT system held more than 53 % of the market share in 2017 and is estimated to expand at 9.05 % CAGR by the end of 2023.
By mode of test type, the global pulmonary function testing systems market has been segmented into lung volume, spirometry, gas exchange testing, and others. Among these, the spirometry segment is likely to remain a profitable segment during the review period.
By mode of component, the global pulmonary function testing systems market has been segmented into hardware, software, service, and others. Among these, the software segment is likely to remain an attractive segment during the estimated period.
By mode of application, the global pulmonary function testing systems market has been segmented into chronic shortness of breath, asthma, restrictive lung disease, chronic obstructive pulmonary disease, and others. Among these, the chronic obstructive pulmonary disease is presumed to hold the top position and is likely to maintain its dominance.
By mode of end-users, the global pulmonary function testing systems market has been segmented into diagnostics laboratories, hospital/clinical laboratories, and others. Among these, the hospital/clinical laboratories accounted for 42.3% share in 2017.
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With the increasing awareness regarding pulmonary function testing and the advancements in the healthcare systems, the global market for PFT is considered to flourish during the assessment period. The growing geriatric population and increasing patient population suffering from breathing disorder are further contributing to the market growth. Issues related to respiration have increased in recent years due to factors such as increasing air pollution, climate change, and growing consumption of cigarette. The incidences of respiratory disorders have triggered the demand for pulmonary function testing services. Moreover, rising prevalence of lung cancer, increased occurrence of obesity, rapidly growing geriatric population, and increasing expenditure on healthcare are some of the major factors influencing the market growth during the assessment period.
The global pulmonary function testing market, based on region, is segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas is estimated to dominate the global pulmonary function testing market during the forecast period. This is attributed to the rising technological advancements in diagnostics, coupled with the increasing prevalence of respiratory diseases and other pulmonary disorders. The European market for pulmonary function testing is expected to be the second largest during the forecast period. The increasing prevalence of lung diseases such as asthma, COPD, and increasing demand for lung function tests is expected to boost the growth of the market in this region.
Asia-Pacific is estimated to be the fastest-growing market due to the increasing demand for pulmonary function testing devices in private hospitals and clinics. Moreover, in the region, South Korea accounted for a market share of 10.1% in 2017. Furthermore, the market in the Middle East & Africa is expected to witness steady growth due to the developing healthcare infrastructure, increasing demand for products.
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