Our lungs perform the pulmonary function. This includes inhaling the air by the nasal passage that travels to the lungs, and absorbing oxygen in the blood which is carried to other parts of the body, and exhaling the carbon dioxide as a waste product through the nasal passage. Several tests are being conducted on people to check how efficiently their lungs are functioning. These are performed with the help of pulmonary function testing equipment, pulmonary function testing machine. The tests can be performed for two reasons. Firstly, if there is some blockage or obstruction in the breathing passage. Secondly, if there is some restrain or reduction in the absorption of oxygen by the blood.
Pulmonary Function Testing Market is foreseen globally to record a CAGR of 8.18%. It is being forecasted to reach a total value of USD 7,716.6 Million by the end of the year 2023.
Coronavirus is a highly infectious disease that is majorly attacking the respiratory system of people. One of the most common symptoms observed in the people affected by the SARS-Cov2 virus is difficulty in breathing and lowering of oxygen level in the body. The pulmonary function testing market saw a boom throughout the last year because pulmonary function equipment is used to detect the level of infection in the lungs of a patient.
People across the globe are suffering from the covid19. More ventilators, testing kits, and oxygen cylinders are required than they were demanded on the normal days before the global pandemic. The government of every nation is procuring and manufacturing more mobile pulmonary function testing devices which are rapid as well as require less human contact. This has surely given a hike to market for pulmonary function testing share.
Pulmonary Function Testing Market Dynamics
The rise in the cases of pneumonia, lung cancer, asthma, and other respiration-related problems has increased the lung function test market size. The widespread highly infectious diseases, rise in air pollution which leads to breathing problems, and drinking and smoking habits that cause lung cancer, are the primary factors that are increasing the demand for pulmonary function equipment. Pulmonary function testing to diagnose asthma holds the greatest market share.
The life expectancy has increased several folds which means that there is a large population of elderly people who are to be medically treated. Diseases such as lung cancer, blockage in the lungs, and asthma are more common in old-aged people. It proves to be an opportunity for the pulmonary function testing market. The awareness among people also increases the demand for portable pulmonary function testing equipment, as they can be easily used in home healthcare.
Businesses have to abide by the law of the land and cannot operate outside it. The rigid policies of medical authorities to provide standardized pulmonary function testing devices may hinder the growth of the market globally. The raw material for manufacturing or assembling the testing equipment is expensive. This is another obstacle for the manufacturers of pulmonary function testing devices.
Value Chain Analysis
Owing to an unhealthy lifestyle and deteriorating environment, respiratory therapist pulmonary function testing arises. National Central Cancer Registry of China has reported through research conducted that near about 22% of total lung cancer cases from across the globe are from china, and globally, almost 27% of death related to respiratory problems are also reported in china.
The key players of this market globally are striving voluntarily to produce such devices and equipment which are easy to use, portable in nature, and can give concrete results. This is possible with technological advancements.
Pulmonary Function Testing Market Segmentation
The pulmonary function testing market can be divided into various segments. These are: based on type, based on test type, based on component, based on application, and based on end-users.
Based on type
Based on test type
Based on application
Based on component
Based on end-users
Pulmonary Function Testing Market Size, by End User, 2017 (USD Million)
Source: MRFR Analysis
Pulmonary Function Testing Market Regional Analysis
Pulmonary function testing market size is increasing with every passing day. It is leaving its impression in every corner of the world. The regions where they are operating include America, Europe, Asia-pacific, and the rest of the world.
America, which includes the area of North America (the US and Canada) and Latin America, is overshadowing all the other regions. The rise in the percentage of the elderly population, larger investments in medical infrastructure by the authorities, and awareness among the general public related to respiratory diseases are the key driving factors.
The European region which includes Germany, UK, France, Russia, and Italy, has bagged the position of second-largest market share in the pulmonary function testing market globally. Unhealthy lifestyles, rise in the cases of asthma, and other respiratory diseases become the major reason for this.
Asia-Pacific region, which includes China, Japan, India, Australia, and South Korea, provides a huge market for pulmonary function testing. It owns to the fact that the government of these countries is investing a large share of their resources in developing a robust medical infrastructure. South Korea alone accounted for the market share of 10.1% in the year 2017.
The rest of the world, which includes the region of the Middle East and Africa, is showing a constant but slow growth because of the limited resources with the government and lack of awareness among the general public.
Asia-Pacific Pulmonary Function Testing Market Share, by Country, 2017 (%)
Source: MRFR Analysis
Pulmonary Function Testing Market Competitive Landscape
The list of major key players involved in pulmonary function testing data analysis is as follows:
The above-listed come together in the joint venture, mergers and, acquisitions to launching new devices. Their main objective is to deliver devices that are cost-effective, hassle-free in operations, and give concrete results. With advanced technologies, the key players are focusing on developing portable pulmonary function testing devices.
Various developments that are found in pulmonary function testing Indusrty research are as follows:
This market research report of pulmonary function testing market includes the following elements:
This research report includes the basic meaning of pulmonary function and how it works. Several tests are being conducted on people to check how efficiently their lungs are functioning. The tests are performed if there is some blockage or obstruction in the breathing passage or if there is some restrain or reduction in the absorption of oxygen by the blood. The most common symptoms observed in the people affected by the SARS-Cov2 virus are difficulty in breathing and lowering of oxygen level in the body. This has increased the market capacity for pulmonary function testing market procedures.
Frequently Asked Questions (FAQ) :
Pulmonary Function Testing Market is predicted to touch USD 7,716.6 million by 2023.
Pulmonary Function Testing Market is projected to grow at an 8.18% CAGR between 2020-2027.
Americas is projected to have the lions share in the Pulmonary Function Testing Market.
Key competitors in the Pulmonary Function Testing Market include Medical Technologies, MGC Diagnostic Corporation, CHEST M.I., Inc, ECO MEDICS AG, Medical Electronic Construction, Medical Equipment Europe GmbH, Schiller, Vyaire Medical, Inc, and COSMED srl.
Different strategies adopted by industry players to maintain a dominance in the Pulmonary Function Testing Market include collaborations, mergers, joint agreements, and product launches.