Global Pulmonary Function Testing Market expected to rise from its initial estimated value of USD 367.88 million in 2018 to an estimated value of USD 691.07 million by 2026 registering a CAGR of 8.2% in the forecast period of 2018-2026. This rise in the market can be attributed to the increasing prevalence of lung cancer, rapidly increasing geriatric population, obesity and increasing healthcare expenditure.
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Global pulmonary function testing systems market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global pulmonary function testing systems market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major market competitors currently working in the global pulmonary function testing systems market is BD, SCHILLER Healthcare India Pvt. Ltd. COSMED srl, NSPIRE HEALTH INC., MGC Diagnostics Corporation, ndd Medizintechnik AG., Morgan Scientific Inc., Ganshorn Medizin Electronic., Minato Holdings Inc., CHEST M.I., Inc., Koninklijke Philips N.V., Medical Equipment Europe, MGC Diagnostics Corporation, Omron Healthcare, Inc.
Global Pulmonary Function Testing Market By Type (Portable PFT Systems, Complete PFT Systems), Test (Spirometry, Lung Volume, Gas Exchange Testing, Maximal Voluntary Ventilation, Oxygen Titration Test, High Altitude Simulation Testing), Component (Software, Hardware, Service), Application (Chronic Obstructive Pulmonary Disease, Asthma, Chronic Shortness of Breath, Restrictive Lung Disease) End-User (Hospitals, Clinical Laboratories, Diagnostics Laboratories), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa, Latin America) – Industry Trends & Forecast to 2026
Market Definition: Global Pulmonary Function Testing Market
Global pulmonary function testing systems is use to identify pulmonary impairment and respiratory issues. In recent years’ issues related to respiration has increased due to factors such as increased consumption of cigarette, climate change and increasing air pollution. Pulmonary Function testing systems used to measure the rate of flow, gas exchange and lung volume capacity. Pulmonary Function Testing Systems helps to diagnose lung disorders as well as treatment or therapeutics for lung disorders.
Increasing prevalence of lung cancer
Increasing geriatric population
Obesity and increasing healthcare expenditure
Changing life style and environmental effects
High cost of instruments is acting as a major restraint for the market
Lack of proper reimbursement policies
Segmentation: Global Pulmonary Function Testing Market
Portable PFT Systems
Complete PFT Systems
Maximal Voluntary Ventilation
Gas Exchange Testing
Oxygen Titration Test
High Altitude Simulation Testing
Chronic Obstructive Pulmonary Disease
Restrictive Lung Disease
Chronic Shortness of Breath
Key Developments in the Market:
In April 2018, Vyaire Medical Inc. plan to become a global leader in respiratory care, Vyaire Medical Inc.is leader in respiratory care announced that it has acquired Acutronic Medical Systems and separately they entered into an agreement to acquire imtmedical Ag, Inc
In October 2018, NSPIRE HEALTH INC., increase clinical value of pulmonary function test, NSPIRE HEALTH INC., is a leading provider of pulmonary diagnostic systems announced the introduction of Iris IQ. This technology removes incongruences between pulmonary function test results and other respiratory diagnostic exams.
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