The global pulmonary function testing devices market revenue was around US$ 1.9 billion in 2022 and is estimated to reach US$ 3.5 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2023 to 2031.
Pulmonary function testing is a series of tests that can specify as well as measure the efficacy of exhaling and inhaling functions performed by the lungs. It plays a key role in determining the efficient transfer of oxygen into the blood and assists in diagnosing certain kinds of lung diseases such as bronchitis, asthma, and emphysema along with determining the reason for shortness of breath.
Market Driving Factors
The surge in the elderly population propels the market growth. For instance, elderly people are more sensitive to lung disease. American Cancer Society predicted that there will be roughly 236,740 new cases of lung cancer identified in the United States. In addition, it was projected that most lung cancer diagnoses in the country occur in patients 65 years of age or older.
Surge in prevalence of respiratory diseases to boost market expansion. Respiratory ailments, such as asthma, chronic obstructive pulmonary disease (COPD), lung cancer, and occupational lung diseases, have been the leading reasons for fatality across the world. Furthermore, there is a significant rise in the incidence of COPD and asthma globally particularly in developing countries. According to the global asthma report, in India, about 35 million people suffer from asthma.
The high price of medical devices and a shortage of awareness of pulmonary tests constrain the market expansion.
Regional Analysis
North America dominated the market and is estimated to continue its dominance over the forecast period. This can be attributed to the surge in demand for cutting-edge medical devices for the detection and treatment of such diseases and the increased R&D facilities for the approval and development of novel drug therapies & devices.
Asia-Pacific was the second largest contributor to the market and is estimated to register the fastest CAGR during the projection period. This can be attributed to a rapid surge in the prevalence of chronic lung diseases such as asthma, shortness of breath, Chronic obstructive pulmonary disease (COPD), and others. Furthermore, the surge in demand for test utilized to diagnose chronic conditions (lung volume, spirometry, oxygen titration test, and others) create a positive impact on the market in the region.
Segmentation Insights
Product Insight
The portable PFT device segment dominates the market during the projection period. This is due to the increase in the prevalence of lung cancer and other lung-related disorders which raises the demand for non-invasive tests that estimate the capacity of lungs.
Application Insight
The chronic obstructive pulmonary disorder segment demonstrated the highest growth in 2021 and is predicted to dominate during the projection period. This is due to the increase in the geriatric population and the surge in the prevalence of COPD, which raises the demand for pulmonary function testing devices.
The asthma segment dominated the market. This can be attributed to the increasing prevalence of asthma, preference for technologically cutting-edge lung diagnostic tests, etc. People with asthma have a greater chance of certain allergic conditions, such as hay fever or eczema. The National Institute of Health estimated that around 300 million people are suffering from asthma worldwide.
End-user Insight
The clinical laboratories segment are estimated to dominate the market. This is due to the increasing awareness of the systematic examination of a patient's pulmonary health using physical exams, chest x-rays, arterial blood gas analysis, and a study of the patient's habits and medical history, as well as the requirement to limit the severity and impact of pulmonary impairments.
Prominent Companies
Segmentation Outline
The global pulmonary function testing devices market segmentation focuses on Product, Test Type, Application, End user, and Region.
By Product
By Test Type
By Application
By End user
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL PULMONARY FUNCTION TESTING DEVICES MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: PULMONARY FUNCTION TESTING DEVICES MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL PULMONARY FUNCTION TESTING DEVICES MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL PULMONARY FUNCTION TESTING DEVICES MARKET, BY PRODUCT
5.1 OVERVIEW
5.2 PORTABLE PFT DEVICES
5.2.1 TYPE
5.2.1.1 HARDWARE
5.2.1.2 SOFTWARE
5.3 COMPLETE PFT DEVICES
5.3.1 TYPE
5.3.1.1 HARDWARE
5.3.1.2 SOFTWARE
6 GLOBAL PULMONARY FUNCTION TESTING DEVICES MARKET, BY TEST TYPE
6.1 OVERVIEW
6.2 SPIROMETRY
6.3 PEAK FLOW METER
6.4 LUNG VOLUME TEST
6.5 GAS EXCHANGE TESTING
6.6 MAXIMAL VOLUNTARY VENTILATION
6.7 OTHERS
7 GLOBAL PULMONARY FUNCTION TESTING DEVICES MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 CHRONIC OBSTRUCTIVE PULMONARY DISEASE
7.3 ASTHMA
7.4 CHRONIC SHORTNESS OF BREATH
7.5 RESTRICTIVE LUNG DISEASE
7.6 OTHERS
8 GLOBAL PULMONARY FUNCTION TESTING DEVICES MARKET, BY END USER
8.1 OVERVIEW
8.2 HOSPITAL
8.3 CLINICAL LABORATORIES
8.4 DIAGNOSTIC LABORATORIES
8.5 OTHERS
9 GLOBAL PULMONARY FUNCTION TESTING DEVICES MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL PULMONARY FUNCTION TESTING DEVICES MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 MGC DIAGNOSTICS CORPORATION
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 GANSHORN MEDIZIN ELECTRONIC GMBH
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 MEDICAL EQUIPMENT EUROPE
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 NSPIRE HEALTH INC
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 MORGAN SCIENTIFIC INC
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 MINATO HOLDINGS INC
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 COSMED SRL
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8. CHEST M.I., INC
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 NDD MEDIZINTECHNIK AG
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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