Peak flow meters are the portable devices used to measure the activity in lungs and to evaluate how well the lungs are able to expel the air. It is a lung monitoring device and is used to measure peak expiratory flow rate and forced expiratory volume.
According to the Fact.MR report, the patients, especially in developing regions, will continue to significantly prefer peak flow meters, due to the low prices of mechanical peak flow meters.
Increasing prevalence of asthma and chronic obstructive pulmonary disease, rising awareness among the people regarding various respiratory diseases, and relatively high rate of smoking in recent years are expected to propel the growth of peak flow meter market.
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Apart from the driving factors, there can be few factors such as use of spirometers, poor availability of the devices in some regions and low awareness among the people, can hinder the overall growth of peak flow meters market.
Smart Pocket Peak Flow Meters – A Key Growth Influencer
The introduction of smart peak flow meters, can be proved as an opportunity for the growth of the peak flow meter market. Smart peak flow meters are the pocket devices that can be connected to the smart phones. Hence, increasing adoption of smart peak flow devices, are expected to increase the growth of the peak flow meters market.
Digital Peak Flow Meter to Capture Significant Share
There are two types of products in the peak flow meter market – mechanical peak flow meters and digital peak flow meters. Digital peak flow meters is the leading segment in the peak flow meters market and holds a substantial revenue share in the peak flow meters market.
High Application Potential in Measurement of Peak Expiratory Flow Rate
Peak expiratory flow rate measurement is the application, which hold a large share in the overall peak flow meters market, as it is measured by both the digital peak flow meter and the mechanical peak flow meter as well.
Home care settings remain a prominent end user for peak flow meters, accounting for a significant revenue share in the overall market. Moreover, owing to portable nature of peak flow meters, many people prefer them to use them, at their homes.
North America Lead Gains, Asia Pacific Presents Lucrative Opportunities
North America is expected to hold a significant market share in the peak flow meter market owing to the technological advancement, especially in the field of healthcare industry.
According to the study, growth opportunities for the peak flow meter market players are picking pace in Asia Pacific region, owing to increasing population and increasing number of people suffering from asthma and COPD. The increasing government initiatives and favorable reimbursement for the diagnosis of respiratory diseases, provides an opportunity for the growth of peak flow meters market.
Fact.MR business intelligence also underlines groundbreaking insights into the competitive scenario of peak flow meters market along with highlights of the manufacturers’ differential strategies. Key players in the peak flow meters market will continue to focus on the introduction of new advertisements and new healthcare awareness programs, to spread the awareness among the people regarding various commonly occurring respiratory diseases. The key manufacturers in peak flow meters market are focusing to strengthen their product portfolio. The companies are also focusing on geographical expansion.
This study underlines key opportunities in the peak flow meter market and is expected to grow at a CAGR of around 2%.
Fact.MR is an independent, pure play market intelligence firm incorporated with an objective to deliver high quality, customized market research solutions that help our clients successfully go to the market equipped with actionable insights capable of impacting crucial business decisions.
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