New York, Feb. 09, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Pulmonary Function Testing Systems Market Size, Share, Growth, Trends, Revenue and Global Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Cart-Based PFT Systems and Stationary PFT Systems), Test Type (Spirometry, Lung Volume, Gas Exchange Testing, Maximum Voluntary Ventilation, Oxygen Titration Test, and Others), Component (Hardware, Software, and Services), Application (Chronic Obstructive Pulmonary Disorder, Asthma, Chronic Shortness of Breath, Restrictive Lung Disease, and Others), and End User (Hospitals, Specialty Clinics, and Diagnostic Laboratories)” the global pulmonary function testing systems market size is expected to reach USD 401.83 million by 2028 from USD 274.10 million in 2022, it is estimated to record a CAGR of 6.6% from 2022 to 2028.
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Global Pulmonary Function Testing Systems Market – Report Scope:
| Market Size Value in | USD 274.10 million in 2022 |
| Market Size Value by | USD 401.83 million by 2028 |
| Growth rate | CAGR of 6.6% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 220 |
| No. of Tables | 138 |
| No. of Charts & Figures | 84 |
| Historical data available | Yes |
| Segments covered | Type, Test Type, Component, Application, and End User |
Global Pulmonary Function Testing Systems Market: Competitive Landscape and Key Developments
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.
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Technological Advancements in Pulmonary Function Testing Systems
Technological advancements have made spirometry much more reliable and relatively simple. Various top companies are manufacturing technology-enabled pulmonary function testing devices. For example, the Datospir Micro C spirometer, developed by Point of Care Diagnostics Pty Ltd, is a revolutionary touch screen instrument with many easy-to-use features that facilitate lung function testing. The new product is a small portable spirometer with the latest technological advances, and the equipment has different configurations intended for use in clinical settings and at home. The new product can also be connected to other devices through Bluetooth technologies and operates with many parameters related to FVC, VC, MVV, and pulse oximetry (SPo2) options. Additionally, top companies are partnering to scale up the diagnosis and treatment of lung diseases. For instance, in August 2022, AstraZeneca announced a partnership with Alveofit to scale up the diagnosis and treatment of lung diseases in India. The partnership between the two companies will provide Alveofit IoT-enabled handheld spirometers to clinics and last-mile hospitals that enable point-of-care spirometry that optimizes the management of different lung-associated noncommunicable diseases. Such devices will help track patients remotely and even conduct telespirometry with comprehensive care management solutions. Thus, the increase in technological advancements is likely to catalyze the growth of the global pulmonary function testing systems market during the forecast period.
A PFT consists of a clear, airtight box, soft nose clips, a mouthpiece, and a small electronic machine that measures airflow (spirometer). The increase in the prevalence of respiratory disorders such as asthma, cough, and chronic obstructive pulmonary disease is promoting the growth of the hardware segment.
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Based on component, the pulmonary function testing systems market is categorized into hardware, software, and services. The hardware segment accounted for a 41.96% share of the pulmonary function testing systems market in 2022. Hardware refers to the physical components of a system, and these primary electronic components are used to build the entire systems that can be later used for various applications. The hardware can be further classified into input devices, output devices, secondary storage devices, and internal components. The damaged or defective hardware can be replaced with a new one, and all the hardware in a system are interconnected to perform the functions. The hardware alone cannot execute any task. It requires software to accept the command and execute which serves the required application or function in the long term. A single set of hardware can have more than one software to carry out multiple functions from one set of hardware systems.
Asia Pacific is expected to register the highest CAGR in the pulmonary function testing systems market during the forecast period. In Asia Pacific, China accounts for the largest share of the pulmonary function testing systems market in 2021. India is anticipated to register the highest CAGR in the APAC pulmonary function testing systems market during the forecast period. COPD is one of the leading causes related to morbidity and mortality globally, resulting in huge economic, social, and healthcare burdens in China. The demand for pulmonary function testing systems is high due to many active smokers (300 million adults). Also, biomass fuel exposure and pulmonary tuberculosis are other important risk factors for COPD among the Chinese population, particularly among females and non-smokers. Such factors have provoked prevention strategies in China through pharmaceutical therapy and management of COPD by increasing accessibility to spirometry tests, patient and physician education related to the utilization of pulmonary function testing, and the propagation of national guidelines. Therefore, the demand for pulmonary function testing systems is high in China, and it will increase significantly during the forecast period.
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