A strategic partnership was agreed upon by Mayo Clinic and the Association of Breath Diagnostics in March 2019 for designing and developing a new system. This new system will detect and analyze lung cancer by taking the exhaled breath of the patient as a test sample. These types of pulmonary testing devices are used for measuring the functioning and capacity of the lungs along with gas exchange, rate of breath flow, lung volume, and other aspects. Such advancements in the medical technology is likely to bode well for the global pulmonary function testing systems market, says Fortune Business Insights in their recent report.
According to the report, titled, “Pulmonary Function Testing Systems Market Size, Share and Global Trend by System Type (Complete PFT Systems, Portable PFT Systems), By Test Type (Spirometry, Gas Exchange Testing, High Altitude Simulation Testing, Others), By Component (Hardware, Software), By End User (Hospitals & Clinics, Diagnostic Centers) and Geography Forecast till 2026,” the market is categorized on the basis of system type, test type, component, end-user, and geography. Amongthese segments, the portable pulmonary function testing system segment is anticipated to lead the market, based on system type. This is attributable to the easy-use and better ergonomics facility of these system types.
The report focuses on various fators impacting the market’s growth trajectory. It covers strategies adopted by various leading players. It also examines the impact of these strategies on the overall market. Information included in this report is obtained from trusted resources. Furthermore, primary and secondary research methods are used to study the market’s trajectory over the forecast period.
Key Segmentation of Pulmonary Function Testing Systems Market:
By System Type
- Complete PFT Systems
- Portable PFT Systems
By Test Type
- Gas Exchange Testing
- High Altitude Simulation Testing
By End User
- Hospitals & Clinics
- Diagnostic Centers
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Change in Lifestyle and Adoption of Drinking and Smoking Habits to Propel Market Growth
The rising prevalence of pulmonary conditions and increase in per capita expenditure are promoting the global pulmonary function testing systems market growth. Additionally, risk factors that are related to the development of pulmonary problems in people such as smoking and drinking habits, sedentary lifestyle, lung allergies, and others are increasing by the day, and this may contribute to the increase in pulmonary function testing system market share in the near future.
However, factors such as high acquisition cost and high maintenance cost of the devices for pulmonary testing systems may challenge the market growth in the future. This, coupled with the lack of proper healthcare infrastructure and medical equipment, especially in developing nations, is anticipated to cause hindrance to the pulmonary function testing systems market growth in the forecast duration.
Increasing Awareness about Pulmonary Diseases to Help Market Show Rapid Growth in Asia Pacific
In 2016, a study conducted the American Academy of Allergy, Asthma, and Immunology estimated about 8.3% of children of the total population in the U.S. suffer from asthma. The rising prevalence of lungs and breathing disorders are anticipated to help North America generate huge revenue to the market. This is likely to remain the same in the forthcoming years on account of the presence of better healthcare infrastructure and medical facilities in its developed nations.
On the other side, Asia Pacific is expected to offer lucrative growth opportunities in the forecast period owing to the increasing investments in the expansion of healthcare infrastructure and the discoveryof technological advancement for various diagnostic procedures. In addition to this, the rising awareness about pulmonary problems and the availability of treatment options is likely to help this region grow at a faster rate in the future.
Increasing Investment inMedical Robots For Detection Of Lung Disorders to Favor Market Growth
Over the past couple of years, market vendors of pulmonary testing systems had successfully implemented various strategies that have helped expand their business, subsequently bolstering growth witnessed in the market. Some of these innovations include:
January 2018 – A U.K. based company namely Owlstone Medical invested a considerate amount of money in the designing and development of cancer breathalyzer test in January 2018. They also tried to develop new devices for idiopathic pulmonary fibrosis patients.
November 2018 – To increase the sale of their newly developed pulmonary function testing medical robot, Auris Health increased its investments in November 2018. This is anticipated to generate greater revenue in the near future.
Some of the companies operating in the global pulmonary function testing system market are mentioned below:
- COSMED Srl
- Medisoft Group
- Medical equipment Europe GmbH
- Ganshorn Medicine Electronic
- MGC Diagnostics Corporation
- SCHILLER AMERICAS INC.
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