Increasing population and the rise in lung cancer or chronic lung diseases are the driver for the growth of the pulmonary functions test systems market.
According to the current analysis of Introspective Market Research, the global Pulmonary Functions Test Systems market was valued at USD 2234.92 Million in 2019 and is expected to reach USD 3557.15 Million by the year 2026, at a CAGR of 6.93%.
Major driving factors for the Pulmonary Functions Test Systems are the increasing chronic lung diseases and lung cancer. According to the report of American Cancer Society in 2019, in United States around 228,150 new cases for lung cancer were registered. Also, it was recorded that around 142,670 deaths occurred in United States due to the lung cancer. The increasing demand for the minimal tests and research & development to design an effective method or test for treating lung disease is also propelling the growth of the market.
According to the analyst, increasing population and with that increasing diseases are the drivers for the market. Major number of people are suffering from lung diseases or shortness of breath due to the heavy consumption of tobacco in the form of cigarette smoking. This factor is the primary driver for the increasing market size. PFT systems are used for measuring lung volume, capacity and rate of flow and gas exchange which every once in a while, medical practitioner suggests to undergo for every individual. The emergence of corona virus and its major effects on lungs are the pivotal reason for the rapid growth of the market in the year 2019-2020. There was noticeable increase in the market size of every segment of the market.
The Global Pulmonary Functions Test Systems market is segmented by Type (Complete PFT Systems and Portable PFT Systems), by Test Type (Spirometry, Lung Volume, Gas Exchange Testing, Maximal Voluntary Ventilation, Oxygen Titration Test and High Altitude Simulation Testing), by Component (Software, Hardware and Services), by Application (Chronic Obstructive Pulmonary Disease, Asthma, Chronic Shortness of Breath and Restrictive Lung Disease), by End-User (Hospital/Clinical Laboratories and Diagnostics Laboratories). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest:
- COSMED SRL announced the launch of a new product line of metabolic monitors for quick, accurate, and affordable indirect calorimetry in March 2018.
- Vyaire Medical, Inc. acquired Revolutionary Medical Devices, Inc., in October 2017, which is engaged in producing innovative products for airway management.
- Schiller announced the launch of its physiogard touch 7 in the market, in September 2016, to meet customer needs and increase its market share.
Key Participants include CareFusion (BD), MGC Diagnostic, Data Sciences International, Medline Industries, Ganshorn, 3M, NSpire Health, Schiller, Morgan scientific, CHEST, NDD, Vyaire Medical, COSMED and many others.
For this report, Introspective Market Research have segmented the Global Pulmonary Functions Test Systems markets market on the basis of Region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2019-2025)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM