Pulmonary Function Testing Systems Market size to hit USD 3.53 Bn by 2029 at a CAGR of 6.3 percent – Says Maximize Market Research

Pune, June 30, 2023 (GLOBE NEWSWIRE) — A global Healthcare business-consulting firm, Maximize Market Research, has published a market intelligence and competitive landscape report on the “Pulmonary Function Testing Systems Market”. The report is a mixture of primary and secondary data sources with qualitative and quantitative analysis of the market. Over the forecast period, Maximize Market Research expects, the market to grow from USD 2.3 Bn in 2022 to USD 3.53 Bn in 2029 at a CAGR of 6.3 percent.

Pulmonary Function Testing Systems Market Report Scope and Research Methodology

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The report aims to aid industry stakeholders to make informed decisions and capitalize on evolving Pulmonary Function Testing Systems market opportunities by providing a global outlook with trends, drivers, challenges, and opportunities. The Pulmonary Function Testing Systems Market report includes current trends and market highlights, assisting clients in exploring lucrative opportunities in the market. During the forecast period, the report provides an estimation of the Pulmonary Function Testing Systems market size and growth rates. To understand the Pulmonary Function Testing Systems market penetration, competitive structure, pricing, and demand analysis, the regional analysis of the market is conducted at local, regional and global levels.

For a competitive landscape of the Pulmonary Function Testing Systems Market, Key players are collected based on several parameters that involve the products and services offered, revenue generated, technological advancements adopted and mergers and acquisitions. The report includes primary and secondary data collection methods for the collection of the Pulmonary Function Testing Systems Market. The quantitative and qualitative approaches are involved in the report. For the collection of data for the Pulmonary Function Testing Systems market, primary and secondary collection methods were used. Research tools such as SWOT, PESTLE and Porter’s five forces were used for the Pulmonary Function Testing Systems Market analysis for the Micro and macro factors affecting the Market presented.

Pulmonary Function Testing Systems Market Overview

Pulmonary Function Testing Systems is the set of medical devices and equipment used to assess and evaluate the functioning of the lungs. These systems are designed to measure several parameters of respiratory function such as lung volumes and gas exchange capabilities. Pulmonary function testing is very important to diagnose and monitor respiratory diseases, assess lung function impairment and determine fitness for surgery.

Pulmonary Function Testing Systems Market Dynamics

Respiratory diseases including asthma, chronic obstructive pulmonary disease (COPD), etc are on the increase globally. These conditions need accurate diagnosis and monitoring, which has been facilitated through pulmonary function testing. As the incidence of respiratory diseases grows, the demand for pulmonary function testing systems is expected to increase.

The technological advancements in pulmonary function testing systems are driving market growth. Manufacturers have been developing innovative and user-friendly devices that offer more accurate as well as reliable results. These advancements involve the integration of wireless connectivity and the development of portable and handheld devices. These technological advancements enhance the efficiency of pulmonary function testing systems which attracts healthcare professionals and drives market growth. The high cost of pulmonary function testing systems, limited accessibility in developing regions and safety concerns and potential risks are the restraining factors for the Pulmonary Function Testing Systems Market growth.

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Pulmonary Function Testing Systems Market Regional Insights

North America held the largest Pulmonary Function Testing Systems Market share and is expected to maintain its dominance over the forecast period. There is an increase in the prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma and lung cancer. Pulmonary function testing is largely used for diagnosing and monitoring these conditions and driving the Pulmonary Function Testing Systems Market. The growth in the geriatric population and technological advancements are the boosting factors for regional market growth.

Europe is expected to grow at a significant growth rate for the Pulmonary Function Testing Systems Market during the forecast period. The presence of the key players, an increase in the prevalence of respiratory diseases and an improvement in the healthcare infrastructure and stringent regulatory environment are the driving factors for the regional market growth.

Pulmonary Function Testing Systems Market Segmentation

By Product Type

By System Type

• Portable PFT Systems
• Complete PFT Systems

Based on the System Type, the market is segmented into complete PFT Systems and Portable PFT Systems. Complete PFT Systems is expected to grow at a significant CAGR for the market. Complete PFT systems are used in specialized pulmonary function laboratories, respiratory clinics, and hospitals by healthcare professionals such as pulmonologists and researchers. These systems enable a comprehensive evaluation of lung function and aid in the diagnosis and monitoring of respiratory conditions.

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By Test Type

• Spirometry
• Plethysmography
• Nitrogen Washout
• Lung Volume
• Gas Exchange Testing
• Maximize Voluntary Ventilation
• Oxygen titration Test
• Exercise Stress Test
• Others

By Component

By Application

• Chronic Obstructive
• Pulmonary Disorder
• Asthma
• Chronic Shortness of Breath
• Restrictive Lung Diseases
• Others

On the basis of Application, the market is categorized into Chronic Obstructive, Pulmonary Disorder, Asthma, Chronic Shortness of Breath, Restrictive Lung Diseases and Others. Asthma dominated the market with the largest share in 2022. Pulmonary function testing plays vital role in the diagnosis and classification of asthma. It helps healthcare professionals to assess lung function parameters including forced expiratory volume in one second (FEV1) and peak expiratory flow rate (PEFR). These measurements offer objective data to confirm the presence of airflow obstruction and differentiate asthma from other respiratory conditions.

By End Use

• Hospitals
• Specialty Clinics
• Diagnostic Laboratories
• Others

Based on the End Use, the market is divided into Hospitals, Specialty Clinics, Diagnostic Laboratories and Others. The hospital segment is expected to dominate Pulmonary Function Testing Systems Market during the forecast period. Hospitals provide efficient medical services such as diagnostics, treatment and management of several diseases. Pulmonary function testing is an important component of respiratory care. Hospitals have the infrastructure and resources to provide comprehensive Pulmonary function testing services to patients.

By Distribution Channel

• Brick and Mortar
• E-commerce

Pulmonary Function Testing Systems Market Key Competitors include:

• ndd Medizintechnik AG
• COSMED srl
• MGC Diagnostics corporation
• PulmOne Advancd Medical Devices
• CHEST M.I., Inc
• VYAIRE MEDICAL,INC.
• KoKo PFT
• Medical Electronic Construction
• Morgan Scientific Inc
• Minato Medical Science Co Ltd
• Schiller Ag
• Medical Equipment Europe GmbH
• NSPIRE HEALTH INC.
• Koninklijke Philips N.V.
• Omron Healthcare InC.
• Ganshorn Medizin Electronic
• Data Science International
• Medline Industries

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Key questions answered in the Pulmonary Function Testing Systems Market are:

• What are Pulmonary Function Testing Systems?
• What is the CAGR of the Pulmonary Function Testing Systems Market?
• What was the Pulmonary Function Testing Systems Market size in 2022?
• What is the expected Pulmonary Function Testing Systems Market size by the end of the forecast period?
• What are the global trends in the Pulmonary Function Testing Systems Market?
• What are the major challenges that the Pulmonary Function Testing Systems Market could face in the future?
• What growth strategies are the players considering to increase their presence in Pulmonary Function Testing Systems?
• What are the upcoming industry applications and trends for the Pulmonary Function Testing Systems Market?
• Who dominates the largest market share in the Pulmonary Function Testing Systems Market?
• Who are the leading companies and what are their portfolios in the Pulmonary Function Testing Systems Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2023−2029
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by Product Type, System Type, Test Type, Component, Application, End Use , Distribution Channel and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Lucrative business opportunities with SWOT analysis
• Recommendations

Maximize Market Research is leading Healthcare research firm, has also published the following reports:

Respiratory Disease Testing Market – The market size is expected to reach USD 23.39 Bn by 2029 at a CAGR of 9.20 percent during the forecast period. The market is expected to be driven by the rising pollution in the environment and increasing advances in technological investment and in-vitro diagnostic tests with the new generation.

Respiratory Diagnostics Market – The market size is expected to reach USD 13.91 Bn by 2029 at a CAGR of 7.3 percent during the forecast period. The market is expected to be driven by Rising pollution in the environment and growing advances in technological investment and in-vitro diagnostic tests with the new generation.

Asthma Treatment Market – The market size is expected to reach USD 28.15 Bn by 2029 at a CAGR of 4.27 percent during the forecast period. The market is expected to be driven by the increase in the population vulnerable to indoor air pollution, rising disposable income, and stepped-forward healthcare facilities.

Chronic Obstructive Pulmonary Disease Drugs Market – The market size is expected to reach USD 22.19 Bn by 2029 at a CAGR of 5.2 percent during the forecast period. The market is expected to be driven by the increasing digitization of content across industries, the growing aging population and the rising COPD incidence.

Spirometer Market – The market size is expected to reach USD 834.20 Mn by 2029 at a CAGR of 5.2 percent during the forecast period. The market is expected to be driven by the increasing prevalence of respiratory diseases, rising air pollution and the release of toxic gases into the atmosphere.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.