The global pulmonary function testing device market is likely to reach US$ 167.3 million by 2024. From 2024 to 2034, the market is slated to expand at a moderate CAGR of 4.8% to reach US$ 268.0 million.
Attributes | Key Insights |
---|---|
Estimated Market Size in 2024 | US$ 167.3 million |
Projected Market Value in 2034 | US$ 268.0 million |
Value-based CAGR from 2024 to 2034 | 4.8% |
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The global pulmonary function testing device market rose between 2019 and 2023 at a CAGR of 6.5% to reach US$ 158.1 million. This growth is attributed to the outbreak of the COVID-19 pandemic. Rising respiratory disorders surged the demand for pulmonary testing kits. This exponential rise in demand propelled the subject market growth.
The declined spike in the number of COVID-19 patients decreases the demand for pulmonary function testing devices compared to the historic period. Due to this reduced demand, a fall in the CAGR can be observed.
However, the demand for respiratory assisting devices will increase due to the increasing geriatric population in many countries, such as the United States and the United Kingdom. This shall propel the market in the forecasted period.
Due to government investments, healthcare infrastructure is developing, giving equal importance to respiratory testing devices, propelling the market in the forecasted period. Advancements in technology and integration into traditional testing units will upsurge pulmonary function testing device requirements.
Historical CAGR from 2019 to 2023 | 6.5% |
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Forecast CAGR from 2024 to 2034 | 4.8% |
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As far as the forecasted market size is concerned, the United States of America outperforms all the other countries to reach US$ 48.4 million by the end of the forecasted period.
The enhancement in the medical infrastructure creates many opportunities for the global pulmonary testing device market. The innovation of products and integration of modern technology, like AI, become easier, thereby driving the market in North America.
Awareness of lung-related diseases has allowed patients worldwide to become more aware of their health, which has helped the market. Rising lung diseases and government inclining toward investment in the medical sector have helped the market to grow.
Countries | Forecast CAGRs from 2024 to 2034 |
---|---|
The United States | 5.1% |
The United Kingdom | 6.0% |
Japan | 6.4% |
South Korea | 7.0% |
China | 5.6% |
This section emphasizes the contribution of different market segments and the marketplace secured by these segments.
Based on product type, handheld devices contribute substantially to the market by blocking 60% of the market. Further, spirometry is the test-type market segment, securing about 46% of the market share among other market segments.
Category | CAGR from 2024 to 2034 |
---|---|
Handheld Devices | 4.6% |
Spirometry Test | 4.4% |
Handheld pulmonary devices form an important market segment for the global pulmonary function testing device market.
The fundamental reason for this is the portability of devices. These portable devices can control the patient’s health remotely. This remote handling has been leveraging operators’ comfort.
Consequently, this was the largest market shareholding segment, accounting for about 60% of the market. Additionally, the commercialization of these products will lead to sluggish advancement of the said market segment at a CAGR of 4.4% during the forecasted period, which will boost the subject market.
Various key players have been investing more in technological infrastructure. Marketers have focused on R&D to improve instruments for performing different tests and diagnostic techniques. The accuracy of the results gained has also increased drastically, leading to the evolution of spirometers.
Further, integrating artificial intelligence with traditional spirometers has made the new devices more accurate and precise.
Consequently, this results in a substantial market share for the spirometry market segment, which accounts for about 46% of the entire market. The market segment is estimated to advance at a CAGR of 4.4%.
The presence of large-scale organizations clutters the global pulmonary function testing device market. Various organizations have adopted different expansion methods that promote their growth within the market.
Organizations' strategic initiatives to expand in the market include developing new products, research collaborations, forward integration, mergers, partnerships, geographical expansions, and many more.
The reliance of organizations on cutting-edge technology is fueling innovation within the sector. Technological integration has allowed marketers to pivot their products for optimum patient comfort. Some of the important market players include
Key Market Developments
Attributes | Details |
---|---|
Estimated Market Size in 2024 | US$ 167.3 million |
Projected Market Valuation in 2034 | US$ 268.0 million |
Value-based CAGR 2024 to 2034 | 4.8% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Value in US$ million |
Key Regions Covered |
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Key Market Segments Covered |
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Key Countries Profiled |
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Key Companies Profiled |
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The global pulmonary function testing device market shall reach US$ 268.0 million by 2034.
The global pulmonary function testing device market will advance at a moderate CAGR of 4.8%.
Based on device type, handheld devices will lead the market with 60% of the market share based on the device type of test.
Based on test type, spirometry will lead the market with a 46% share.
The global pulmonary function testing device market is expected to reach US$ 167.3 million by 2024.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Product, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Product, 2024 to 2034 5.3.1. Handheld 5.3.2. Tabletop 5.4. Y-o-Y Growth Trend Analysis By Product, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Product, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Test Type 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Test Type, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Test Type, 2024 to 2034 6.3.1. Spirometry 6.3.2. Lung Volume Test 6.3.3. Gas Diffusion Test 6.3.4. Exercise Stress Test 6.3.5. High Altitude Simulation Testing 6.3.6. Others 6.4. Y-o-Y Growth Trend Analysis By Test Type, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Test Type, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) Analysis By Application, 2019 to 2023 7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application, 2024 to 2034 7.3.1. Chronic Obstructive Pulmonary Disease 7.3.2. Asthma 7.3.3. Chronic Shortness of Breath 7.3.4. Pulmonary Fibrosis 7.3.5. Others 7.4. Y-o-Y Growth Trend Analysis By Application, 2019 to 2023 7.5. Absolute $ Opportunity Analysis By Application, 2024 to 2034 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-User 8.1. Introduction / Key Findings 8.2. Historical Market Size Value (US$ Million) Analysis By End-User, 2019 to 2023 8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End-User, 2024 to 2034 8.3.1. Hospitals & Clinics 8.3.2. Diagnostic Centres 8.3.3. Homecare Settings 8.3.4. Others 8.4. Y-o-Y Growth Trend Analysis By End-User, 2019 to 2023 8.5. Absolute $ Opportunity Analysis By End-User, 2024 to 2034 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 9.1. Introduction 9.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023 9.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034 9.3.1. North America 9.3.2. Latin America 9.3.3. Western Europe 9.3.4. Eastern Europe 9.3.5. South Asia and Pacific 9.3.6. East Asia 9.3.7. Middle East and Africa 9.4. Market Attractiveness Analysis By Region 10. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. USA 10.2.1.2. Canada 10.2.2. By Product 10.2.3. By Test Type 10.2.4. By Application 10.2.5. By End-User 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product 10.3.3. By Test Type 10.3.4. By Application 10.3.5. By End-User 10.4. Key Takeaways 11. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Brazil 11.2.1.2. Mexico 11.2.1.3. Rest of Latin America 11.2.2. By Product 11.2.3. By Test Type 11.2.4. By Application 11.2.5. By End-User 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product 11.3.3. By Test Type 11.3.4. By Application 11.3.5. By End-User 11.4. Key Takeaways 12. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. Germany 12.2.1.2. UK 12.2.1.3. France 12.2.1.4. Spain 12.2.1.5. Italy 12.2.1.6. Rest of Western Europe 12.2.2. By Product 12.2.3. By Test Type 12.2.4. By Application 12.2.5. By End-User 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product 12.3.3. By Test Type 12.3.4. By Application 12.3.5. By End-User 12.4. Key Takeaways 13. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. Poland 13.2.1.2. Russia 13.2.1.3. Czech Republic 13.2.1.4. Romania 13.2.1.5. Rest of Eastern Europe 13.2.2. By Product 13.2.3. By Test Type 13.2.4. By Application 13.2.5. By End-User 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product 13.3.3. By Test Type 13.3.4. By Application 13.3.5. By End-User 13.4. Key Takeaways 14. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. India 14.2.1.2. Bangladesh 14.2.1.3. Australia 14.2.1.4. New Zealand 14.2.1.5. Rest of South Asia and Pacific 14.2.2. By Product 14.2.3. By Test Type 14.2.4. By Application 14.2.5. By End-User 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Product 14.3.3. By Test Type 14.3.4. By Application 14.3.5. By End-User 14.4. Key Takeaways 15. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 15.2.1. By Country 15.2.1.1. China 15.2.1.2. Japan 15.2.1.3. South Korea 15.2.2. By Product 15.2.3. By Test Type 15.2.4. By Application 15.2.5. By End-User 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Product 15.3.3. By Test Type 15.3.4. By Application 15.3.5. By End-User 15.4. Key Takeaways 16. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 16.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 16.2.1. By Country 16.2.1.1. GCC Countries 16.2.1.2. South Africa 16.2.1.3. Israel 16.2.1.4. Rest of MEA 16.2.2. By Product 16.2.3. By Test Type 16.2.4. By Application 16.2.5. By End-User 16.3. Market Attractiveness Analysis 16.3.1. By Country 16.3.2. By Product 16.3.3. By Test Type 16.3.4. By Application 16.3.5. By End-User 16.4. Key Takeaways 17. Key Countries Market Analysis 17.1. USA 17.1.1. Market Share Analysis, 2023 17.1.1.1. By Product 17.1.1.2. By Test Type 17.1.1.3. By Application 17.1.1.4. By End-User 17.2. Canada 17.2.1. Market Share Analysis, 2023 17.2.1.1. By Product 17.2.1.2. By Test Type 17.2.1.3. By Application 17.2.1.4. By End-User 17.3. Brazil 17.3.1. Market Share Analysis, 2023 17.3.1.1. By Product 17.3.1.2. By Test Type 17.3.1.3. By Application 17.3.1.4. By End-User 17.4. Mexico 17.4.1. Market Share Analysis, 2023 17.4.1.1. By Product 17.4.1.2. By Test Type 17.4.1.3. By Application 17.4.1.4. By End-User 17.5. Germany 17.5.1. Market Share Analysis, 2023 17.5.1.1. By Product 17.5.1.2. By Test Type 17.5.1.3. By Application 17.5.1.4. By End-User 17.6. UK 17.6.1. Market Share Analysis, 2023 17.6.1.1. By Product 17.6.1.2. By Test Type 17.6.1.3. By Application 17.6.1.4. By End-User 17.7. France 17.7.1. Market Share Analysis, 2023 17.7.1.1. By Product 17.7.1.2. By Test Type 17.7.1.3. By Application 17.7.1.4. By End-User 17.8. Spain 17.8.1. Market Share Analysis, 2023 17.8.1.1. By Product 17.8.1.2. By Test Type 17.8.1.3. By Application 17.8.1.4. By End-User 17.9. Italy 17.9.1. Market Share Analysis, 2023 17.9.1.1. By Product 17.9.1.2. By Test Type 17.9.1.3. By Application 17.9.1.4. By End-User 17.10. Poland 17.10.1. Market Share Analysis, 2023 17.10.1.1. By Product 17.10.1.2. By Test Type 17.10.1.3. By Application 17.10.1.4. By End-User 17.11. Russia 17.11.1. Market Share Analysis, 2023 17.11.1.1. By Product 17.11.1.2. By Test Type 17.11.1.3. By Application 17.11.1.4. By End-User 17.12. Czech Republic 17.12.1. Market Share Analysis, 2023 17.12.1.1. By Product 17.12.1.2. By Test Type 17.12.1.3. By Application 17.12.1.4. By End-User 17.13. Romania 17.13.1. Market Share Analysis, 2023 17.13.1.1. By Product 17.13.1.2. By Test Type 17.13.1.3. By Application 17.13.1.4. By End-User 17.14. India 17.14.1. Market Share Analysis, 2023 17.14.1.1. By Product 17.14.1.2. By Test Type 17.14.1.3. By Application 17.14.1.4. By End-User 17.15. Bangladesh 17.15.1. Market Share Analysis, 2023 17.15.1.1. By Product 17.15.1.2. By Test Type 17.15.1.3. By Application 17.15.1.4. By End-User 17.16. Australia 17.16.1. Market Share Analysis, 2023 17.16.1.1. By Product 17.16.1.2. By Test Type 17.16.1.3. By Application 17.16.1.4. By End-User 17.17. New Zealand 17.17.1. Market Share Analysis, 2023 17.17.1.1. By Product 17.17.1.2. By Test Type 17.17.1.3. By Application 17.17.1.4. By End-User 17.18. China 17.18.1. Market Share Analysis, 2023 17.18.1.1. By Product 17.18.1.2. By Test Type 17.18.1.3. By Application 17.18.1.4. By End-User 17.19. Japan 17.19.1. Market Share Analysis, 2023 17.19.1.1. By Product 17.19.1.2. By Test Type 17.19.1.3. By Application 17.19.1.4. By End-User 17.20. South Korea 17.20.1. Market Share Analysis, 2023 17.20.1.1. By Product 17.20.1.2. By Test Type 17.20.1.3. By Application 17.20.1.4. By End-User 17.21. GCC Countries 17.21.1. Market Share Analysis, 2023 17.21.1.1. By Product 17.21.1.2. By Test Type 17.21.1.3. By Application 17.21.1.4. By End-User 17.22. South Africa 17.22.1. Market Share Analysis, 2023 17.22.1.1. By Product 17.22.1.2. By Test Type 17.22.1.3. By Application 17.22.1.4. By End-User 17.23. Israel 17.23.1. Market Share Analysis, 2023 17.23.1.1. By Product 17.23.1.2. By Test Type 17.23.1.3. By Application 17.23.1.4. By End-User 18. Market Structure Analysis 18.1. Competition Dashboard 18.2. Competition Benchmarking 18.3. Market Share Analysis of Top Players 18.3.1. By Regional 18.3.2. By Product 18.3.3. By Test Type 18.3.4. By Application 18.3.5. By End-User 19. Competition Analysis 19.1. Competition Deep Dive 19.1.1. Koninklijke Philips N.V 19.1.1.1. Overview 19.1.1.2. Product Portfolio 19.1.1.3. Profitability by Market Segments 19.1.1.4. Sales Footprint 19.1.1.5. Strategy Overview 19.1.1.5.1. Marketing Strategy 19.1.2. Minato Holdings Inc 19.1.2.1. Overview 19.1.2.2. Product Portfolio 19.1.2.3. Profitability by Market Segments 19.1.2.4. Sales Footprint 19.1.2.5. Strategy Overview 19.1.2.5.1. Marketing Strategy 19.1.3. Medtronic 19.1.3.1. Overview 19.1.3.2. Product Portfolio 19.1.3.3. Profitability by Market Segments 19.1.3.4. Sales Footprint 19.1.3.5. Strategy Overview 19.1.3.5.1. Marketing Strategy 19.1.4. Morgan Scientific Inc 19.1.4.1. Overview 19.1.4.2. Product Portfolio 19.1.4.3. Profitability by Market Segments 19.1.4.4. Sales Footprint 19.1.4.5. Strategy Overview 19.1.4.5.1. Marketing Strategy 19.1.5. SCHILLER 19.1.5.1. Overview 19.1.5.2. Product Portfolio 19.1.5.3. Profitability by Market Segments 19.1.5.4. Sales Footprint 19.1.5.5. Strategy Overview 19.1.5.5.1. Marketing Strategy 19.1.6. ndd Medizintechnik AG 19.1.6.1. Overview 19.1.6.2. Product Portfolio 19.1.6.3. Profitability by Market Segments 19.1.6.4. Sales Footprint 19.1.6.5. Strategy Overview 19.1.6.5.1. Marketing Strategy 19.1.7. Medical Equipment Europe 19.1.7.1. Overview 19.1.7.2. Product Portfolio 19.1.7.3. Profitability by Market Segments 19.1.7.4. Sales Footprint 19.1.7.5. Strategy Overview 19.1.7.5.1. Marketing Strategy 19.1.8. Ganshorn Medizin Electronic 19.1.8.1. Overview 19.1.8.2. Product Portfolio 19.1.8.3. Profitability by Market Segments 19.1.8.4. Sales Footprint 19.1.8.5. Strategy Overview 19.1.8.5.1. Marketing Strategy 19.1.9. CHEST M.I., Inc 19.1.9.1. Overview 19.1.9.2. Product Portfolio 19.1.9.3. Profitability by Market Segments 19.1.9.4. Sales Footprint 19.1.9.5. Strategy Overview 19.1.9.5.1. Marketing Strategy 19.1.10. Vyaire Medical, Inc 19.1.10.1. Overview 19.1.10.2. Product Portfolio 19.1.10.3. Profitability by Market Segments 19.1.10.4. Sales Footprint 19.1.10.5. Strategy Overview 19.1.10.5.1. Marketing Strategy 20. Assumptions & Acronyms Used 21. Research Methodology
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