Pulmonary Function Testing Systems Market is expected to reach US$ 401.83 million by 2028

Publisher: The Insight Partners

The global pulmonary function testing systems market size is expected to reach US$ 401.83 million by 2028; registering at a CAGR of 6.6% from 2022 to 2028, according to a new research study conducted by The Insight partners

Spirometry Segment to Account for Largest Share in Pulmonary Function Testing Systems Market During 2022–2028

The report highlights the key factors driving the market growth and prominent players with their developments in the market.

COVID-19 is a respiratory system infection that rapidly may cause pneumonia-like symptoms, chest infection. This may result in lowering the health conditions of the patient. The ventilators help in managing the gas exchange of the patients. As an impact of breakout of COVID-19, there was a very high demand for pulmonary function testing systems. American Lung Association and Centers for Disease Control and Prevention has recommended patients with mild symptoms of COVID-19 to carry out pulmonary function testing to check the lung capacity of the patient. Pulmonary function testing is an ideal tool for assessing the physiological impact of a virus that largely attacks the cardiopulmonary system. The technology behind measuring airflow, lung volumes, and the ability for oxygen and carbon dioxide to transfer between the alveoli and the bloodstream are well established by pulmonary function testing, and facilities to perform these tests are found around the US.

In terms of revenue, North America dominated the pulmonary testing function systems market share. Asia Pacific is expected to account for the highest CAGR of the pulmonary function testing systems market during the forecast period. The growth of the North America pulmonary function testing systems market is attributed to the increase in the implementation of portable systems and the rise in the use of respiratory devices among the physician groups (clinics) in the region. According to the Centers for Disease Control and Prevention (CDC) report, the age-adjusted prevalence of COPD varied between states in 2020 and ranged from 3.2% in Hawaii to 11.9% in West Virginia. Additionally, smoking is linked to up to 90% of all COPD deaths in the US. Also, in 2020, 12.5 million people, or 5.0% of adults, reported a diagnosis of COPD in the US, as per the statistics revealed by the American Lung Association report.

Global Pulmonary Function Testing Systems Market, by Region, 2021 (%)

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/sample/TIPRE00017822

Source: The Insight Partners Analysis

Further, the American Lung Association 2023 report states that, in the US, the total economic cost of COPD accounts for US$ 50 billion annually, including US$ 29.5 billion for direct healthcare expenditures and US$ 12.4 billion for indirect mortality, and US$ 8.0 billion for indirect morbidity costs. With such high incidence and total healthcare expenditure of COPD in the US, there is an accelerating demand for pulmonary function test systems that will ultimately be responsible for the overall market's significant growth during the forecast period.

Based on type, the pulmonary function testing systems market is bifurcated into cart-based PFT systems and stationery PFT systems. The cart-based PFT systems segment accounted for a 77.26% share of the pulmonary function testing systems market. Cart-based PFT systems are electrical medical equipment easy to move and comprised systems that provide the most efficient and accurate way to test lung function in any form of setting. The product is designed to complete all type of pulmonary tests in one system and is friendly for both patients and physicians. A number of devices with probes are mounted on carts to assist the physician to perform multiple tests before surgeries. Such a system begins testing immediately and can be operated at a minimal cost. The software and wireless technology make this system more advanced.

The increasing prevalence of lung diseases is one of the major factors driving the market for the portable PFT system segment. Furthermore, technological advancements in portable PFT systems and increasing availability in healthcare are driving the market for the portable PFT system segment.

COSMED Srl, MGC Diagnostics Corp, Morgan Scientific Inc, Minato Medical Science Co Ltd, Schiller AG, Chest MI Inc, Vyaire Medical Inc, ndd Medical Technologies Inc, PulmOne Advanced Medical Devices Ltd, and KoKo PFT Ltd are among the leading companies operating in the global pulmonary function testing systems market.

Various organic and inorganic strategies are adopted by companies operating in the global pulmonary function testing systems market. Organic strategies mainly include product launches and product approvals. Further, acquisitions, collaborations, and partnerships are among the inorganic growth strategies witnessed in the market. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall market growth. Further, acquisition and partnership strategies help the market players strengthen their customer base and expand their product portfolios. A few of the significant developments by key players operating in the global pulmonary function testing systems market are listed below.

• In June 2022, ndd Medical Technologies (ndd) updated the entire EasyOne product range, including the EasyOne Air, Easy on-PC, EasyOne Pro, and EasyOne Pro LAB, to be compliant with the ATS/ERS Standardization of Spirometry 2019.
• In April 2021, Vyaire Medical announced the European launch of ArtiQ.PFT, an automated tool driven by artificial intelligence that instantly interprets pulmonary function tests (PFTs). ArtiQ.PFT is the first cloud-based PFT-solution that leverages artificial intelligence.

Contact Us
Contact Us: The Insight Partners 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com