Pulmonary Function Testing Devices Market, by Product (Portable PFT Devices, Complete PFT Devices), by Test Type (Spirometry, Peak flow meter, Lung Volume Test, Gas Exchange Testing, Maximal Voluntary Ventilation, Others), by Application (Chronic Obstructive Pulmonary Disease, Asthma, Chronic Shortness of Breath, Restrictive Lung Disease, Others), by End user (Hospital, Clinical laboratories, Diagnostic Laboratories, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Pulmonary Function Testing Devices Market Research, 2031

The global Pulmonary Function Testing Devices Market size market was valued at $1.9 billion in 2021, and is projected to reach $3.5 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031. Pulmonary function testing is a series of tests that can determine as well as measure the efficacy of inhaling and exhaling functions performed by the lungs. It plays a pivotal role in determining the efficient transfer of oxygen into the blood and helps in diagnosing certain types of lung diseases such as asthma, bronchitis, and emphysema, along with determining the cause of shortness of breath. Some of the common types of pulmonary function tests are spirometry, which measures how much air a person can breathe in and out. It also measures how fast a person can empty the air out of their lungs. This test is done to check how well the oxygen moves from the lungs into the bloodstream.

The key factors that drive the Pulmonary Function Testing Devices Market growth are the rise in the prevalence of lung cancer and lung-related disorders; rise in the geriatric population; and the increase in the adoption of technologically advanced medical devices across the world. In addition, rise in the demand for minimally invasive tests for lung diseases is the key factor that boosts the market growth. For instance, according to the World Health Organization, in 2020, chronic obstructive pulmonary disease (COPD) was the third leading cause of death worldwide. It was estimated that around 3.9 million people died due to COPD. Furthermore, the increase in the geriatric population and the rise in the prevalence of chronic lung diseases have increased the demand for pulmonary function testing devices for disease diagnosis across the world which further boosts the Pulmonary Function Testing Devices Market growth.

Moreover, an increase in R&D activity for pulmonary function testing devices, and a rise in healthcare expenditures further boost the growth of the market. However, the high cost of medical devices and a lack of awareness of pulmonary tests hamper the market growth. Conversely, the emerging healthcare market in developing countries is expected to provide Pulmonary Function Testing Devices Market opportunity for the key players during the forecast period.

 The global Pulmonary Function Testing Devices Market size market was valued at $1.9 billion in 2021, and is projected to reach $3.5 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031. TIn addition, the market is segmented on the basis of test type, application, product, end user and region. By test type the market is segmented into spirometry, peak flow meter, lung volume, gas exchange testing, maximal voluntary ventilation and others. On the basis of application, it is segmented into chronic obstructive pulmonary disorders, asthma, chronic shortness of breath, restrictive lung disease, and others. On the basis of product, it is segmented into portable PFT devices and complete PFT systems. By end user the market is segmented into hospitals, diagnostic centers, clinical laboratories, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Product Segment Review

By product, the market is segmented into portable PFT device and complete PFT system, the portable PFT device segment exhibited the largest Pulmonary Function Testing Devices Market share in 2021 and is anticipated to lead during the forecast period. Owing to the rise in the prevalence of lung cancer and other lung-related disorder which increases the demand of non-invasive tests that measure the capacity of lungs. The complete PFT system segment is anticipated to grow at a significant rate during the forecast period.

Test type Segment review

By test type, the pulmonary function testing devices market is segmented into spirometry, peak flow meter, lung volume, gas exchange testing, maximal voluntary ventilation and others. In 2021, the spirometry segment accounted for the largest share of the market. The dominance of this segment can be attributed to the increase in the prevalence of lung cancer and other lung-related disorders, due to rise in the environmental pollution.The peak flow meter segment is anticipated to grow at a significant rate during the forecast period.

Application Segment Review

By application, the pulmonary function testing devices market is segmented into chronic obstructive pulmonary disorders, asthma, chronic shortness of breath, restrictive lung disease, and others, the chronic obstructive pulmonary disorder segment exhibited the highest growth in 2021, and is anticipated to lead during the forecast period. Owing to the rise in the geriatric population and the increase in the prevalence of COPD, increases the demand of pulmonary function testing devices.

The asthma segment is anticipated to grow at a significant rate during the forecast period. Owing to the rise in the prevalence of allergic conditions and upper respiratory infectious diseases such as asthma.

End User Segment Review

By end user, the hospital segment was the highest revenue contributor to the pulmonary function testing devices market. Owing to the increase in the number of patients visit to hospitals for the diagnosis of lung-related disorders.

The clinical laboratories are expected to witness considerable market growth during the forecast period, owing to the growing awareness of the systematic examination of a patient's pulmonary health using chest x-rays, physical exams, arterial blood gas analysis, and a study of the patient's habits and medical history, as well as the need to limit the severity and impact of pulmonary impairments.

Region Segment Review 

Region wise, the Pulmonary Function Testing Industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a majority of the pulmonary function testing systems market share in 2021 and is anticipated to remain dominant during the forecast period. Owing to the increasing demand for advanced medical devices for the treatment and detection of such diseases and the growing R&D facilities for the approval and development of novel drug therapies & devices.

Asia-Pacific was the second largest contributor to the pulmonary function testing devices market in 2021, and is expected to register the fastest CAGR during the forecast period, owing to rapid increase in the prevalence of chronic lung diseases such as asthma, COPD, shortness of breath and various others, increases the demand of test used to diagnose chronic conditions (spirometry, lung volume, oxygen titration test and various others).

The key players that operate in the pulmonary function testing devices market are Chest M.I Inc, Clarity Medical Pvt. Ltd., Cosmed srl, Data Sciences International Inc, Eco Medics AG, Geratherm Medical AG, JK Medical System Pvt. Ltd., Medical Electronic Construction, Medical Equipment Europe GmbH, MGC Diagnostics Corporation, Morgan Scientific Inc, NDD Medical Technologies Inc, Omron Corporation, Pulm One Advanced Medical Devices Ltd., Schiller AG, Koko LLC, and Vyaire Medical Inc.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pulmonary function testing devices market analysis from 2021 to 2031 to identify the prevailing pulmonary function testing devices market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the pulmonary function testing devices market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global pulmonary function testing devices market trends, key players, market segments, application areas, and market growth strategies.

  Pulmonary Function Testing Devices Market, by Product Report Highlights

Aspects	Details
Market Size By 2031	USD 3.5 billion
Growth Rate	CAGR of 6.4%
Forecast period	2021 - 2031
Report Pages	341
By Product	Portable PFT Devices Type Hardware Software Complete PFT Devices Type Hardware Software
By Test Type	Spirometry Peak flow meter Lung Volume Test Gas Exchange Testing Maximal Voluntary Ventilation Others
By Application	Chronic Obstructive Pulmonary Disease Asthma Chronic Shortness of Breath Restrictive Lung Disease Others
By End user	Hospital Clinical laboratories Diagnostic Laboratories Others
By Region	North America  (U.S., Canada, Mexico) Europe  (France, Germany, Italy, UK, Spain, Rest Of Europe) Asia-Pacific  (Japan, China, India, Australia, South Korea, Rest Of Asia-Pacific) LAMEA  (Brazil, Saudi Arabia, South Africa, Rest Of LAMEA)
Key Market Players	Minato Holdings Inc, SCHILLER, ndd Medizintechnik AG, Morgan Scientific Inc.,, COSMED srl, MGC Diagnostics Corporation, Ganshorn Medizin Electronic, NSPIRE HEALTH INC, CHEST M.I., Inc, Medical Equipment Europe

Analyst Review

This section provides various opinions of top-level CXOs in the pulmonary function testing devices market. According to several interviews conducted, the pulmonary function testing devices market is expected to witness significant growth in the future, owing to the rise in the geriatric population and the increase in the prevalence of lung diseases such as asthma, emphysema, chronic obstructive pulmonary disorders, and various others.

According to the perspectives of CXOs, the pulmonary function testing devices market is expected to witness steady growth in the future. The rise in the geriatric population and the increase in lung cancer disease, along with the rise in healthcare expenditure across the world, are the key factors driving the growth of the market. In addition, the rise in technological advancement and the increase in the number of key players who develop advanced pulmonary function test solutions for disease diagnosis propel the growth of the market. However, the high cost of devices and lack of awareness are expected to hamper the growth of the market to some extent over the forecast period.

On the contrary, growing demand for such devices and the rising economies of developing countries are expected to provide opportunities for the growth of the pulmonary function testing devices market in the future.

Furthermore, North America is expected to witness the highest growth in terms of revenue, owing to advanced healthcare facilities provided by government and private authorities, and rise in R&D facilities for the approval and development of novel medical devices and drug therapies in the region are the factors which propel the growth of the market.

Asia-Pacific was the second largest contributor to the market in 2021, and is expected to register the fastest CAGR during the forecast period, owing to an increase in the geriatric population and the higher prevalence of COPD and other lung-related disorders in developing countries are the key factors which boost the growth of market.

Author Name(s) : Vikita Thakur | Roshan Deshmukh

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