Pulmonary Function Testing Systems Market Analysis

Pulmonary Function Testing Systems Market Analysis

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Based on product type, the pulmonary function testing systems market is segmented as handheld and tabletop. The handheld pulmonary function testing devices segment held majority market share in 2022 and was valued at over USD 1.2 billion. This segment share is primarily attributed to significant technological advancement and an increase in the awareness of benefits related to the use of portable pulmonary function testing systems. The biggest advantage of a portable devices is that it can remotely monitor the condition and progression of the health of these patients in emergency conditions.
 

Market players are focusing on commercializing handheld testing products that can monitor multiparameter essential symptoms comprising respiratory rate, heart rate, body temperature, and SpO2. Recently introduced portable spirometer including Respinos is designed in the form of a tube that can be ergonomically inflated by the patient and is integrated with a precise and disposable turbine-based air flow sensor to assess the patient's respiratory condition.
 

As per the research studies, continuous pulmonary function monitoring can serve as a diagnostic tool for several lung conditions including asthma, chronic obstructive pulmonary disease (COPD), pulmonary fibrosis, and lung cancer among others. Moreover, according to the American Lung Association, one of the key advantages of this device is that it’s non-invasive as there are no incisions or breaks in patients’ skin and assess every variation that can be the cause of lung disease.
 

Based on test type, the pulmonary function testing systems market is segmented as spirometry, lung volume test, gas diffusion test, exercise stress test, high altitude simulation testing, and others. The spirometry segment was valued at USD 926 million in 2022. This is owing to the growing technological advancements in spirometers, increase in R&D activities, and surging adoption of non-invasive diagnostic techniques among others. The new generations spirometry testing systems have evolved from fixed, volume-based devices to portable, flow-based devices that can be transported easily. Market players are focusing on the designing of sleek & efficient recorder for patient comfort & for streamlined workflow as per the individual patient requirements.
 

Improving set-up features comprising simple navigation buttons, large on-board display, automatic power on self-test, and lightweight design is assisting in faster operation along with enhanced comfort. Smart  spirometers embedded with AI technology can collect data and monitor a patient's condition. As a result, simple, secure and smart spirometers with accurate solutions that help to reduce complexity and shorten the path to diagnosis will expand the market size.
 

Based on application, the pulmonary function testing systems market is segmented as chronic obstructive pulmonary disease, asthma, chronic shortness of breath, pulmonary fibrosis, and others. The asthma segment held considerable share with more than 25% revenue share in 2022 and is forecasted to witness a similar trend during the analysis period. This is attributable to the growing prevalence of asthma, preference for technologically advanced lung diagnostic tests, etc. People with asthma have a greater risk of certain allergic conditions, such as eczema or hay fever. According to the National Institute of Health, in 2022, around 300 million people were suffering with asthma across the globe.  
 

Spirometry is the recommended test to confirm asthma. It measures the amount of air patient able to breathe in and out and its rate of flow. Moreover, benefits associated with testing such as reliability in disease screening and reduced severity of infection with a better diagnosis are forecasted to positively impact the industry growth.
 

Based on distribution channel, the pulmonary function testing systems market is segmented as the hospital & clinics pharmacies, brick & mortar, and e-commerce. The brick & mortar stores segment is estimated to progress at substantial growth rate to reach over USD 1.6 billion by 2032. This substantial segment share is owing to several advantages offered by the medical retail stores in medical diagnostic devices distribution including the availability of a wide array of products and substantial discounts.
 

Additionally, various market players are focusing on marketing products through medical retail stores that increase the salability of a wide variety of product, thus propelling segment landscape. Some medical retail stores also offer educational programs for precise product awareness and focus on combating health issues including lung diseases, etc. Moreover, well-defined safety, effective services, and security policies are boosting the segment revenue.
 

Based on end-use, the pulmonary function testing systems market is segmented diagnostic centers, homecare settings, and others. The hospitals & clinics segment is projected to reach more than USD 1.7 billion by 2032. The soaring use of novel portable pulmonary function testing devices in hospital settings delivering rapid and reliable outcomes is estimated to surge the patient preference for these healthcare facilities. The availability of a broad spectrum of pulmonary function tests that supports continuous monitoring with proven accuracy is set to drive product preference in hospitals & clinics.
 

Growing admissions with lung ailments and growing disease screening initiatives along with the accessibility to board-certified healthcare professionals are some other variables that are augmenting the segment growth positively. Furthermore, the rising disease burden in developed economies with enhanced healthcare infrastructure is projected to stimulate the diagnosis & treatment rate at hospitals.
 

The U.S. pulmonary function testing systems market is anticipated to exceed USD 1.6 billion by 2032. This majority market share is credited to several factors such as the presence of major industry players, an upsurge in the demand for respiratory diseases continuous monitoring services, rise in the prevalence of lung diseases conditions, and growing number of hospital admissions across the country among others. As per the American Lung Association data 2021, around 236,000 people were diagnosed with lung cancer in the U.S.
 

Additionally, according to the Asthma and Allergy Foundation of America, currently, around 26 million people in the U.S. have asthma. These adverse events are anticipated to upsurge the adoption rate of pulmonary function testing systems devices for better disease management. This is further driving the entry of new players in the market that are projected to increase over the forecast timeframe.