The Pulmonary Function Testing (PFT) Market is a significant segment within the healthcare diagnostics landscape, focused on assessing the functionality of the respiratory system. PFT involves a series of tests that measure lung capacity, airflow, and gas exchange, aiding in the diagnosis and management of respiratory conditions such as asthma, chronic obstructive pulmonary disease (COPD), and interstitial lung diseases. This market encompasses a variety of devices and technologies, including spirometers, peak flow meters, and gas analyzers, offering comprehensive insights into lung function.
Major drivers of the Pulmonary Function Testing Market include the increasing prevalence of respiratory disorders, advancements in PFT technologies, and a growing awareness of the importance of early diagnosis for respiratory conditions. PFT plays a critical role in guiding treatment decisions, assessing disease progression, and evaluating therapeutic responses.
Challenges involve standardizing testing procedures, ensuring accessibility to PFT equipment, and addressing variations in patient cooperation. Geographically, North America and Europe lead in market share due to well-established healthcare infrastructures, while Asia-Pacific is experiencing growth with rising respiratory health concerns and increasing healthcare investments. As the Pulmonary Function Testing Market continues to evolve, it remains instrumental in enhancing respiratory care and contributing to better outcomes for individuals with lung disorders.
Pulmonary function test (PFT) is a medical test conducted to evaluate the respiratory function with an aim to detect the severity of pulmonary impairment. Pulmonary function test (PFT) is performed for diagnostic and therapeutic reasons such as asthma, chronic obstructive pulmonary disease, restrictive lung disease, preoperative testing, morning wheezing, and others.
The global pulmonary function testing market is projected to charge owing to the large and growing patient population and growing healthcare expenditure. According to Market Research Future (MRFR), the global pulmonary function testing market is expected to garner a valuation of USD 7,716.6MN by the end of 2023. In its recently published analysis, MRFR also asserts that the market would register a CAGR of over 8.18% over the assessment period (2016-2023).
The growing population and exposure to risk factors are driving a large market.
According to the US National Center for Chronic Disease Prevention and Health Promotion, almost 8.9 million Americans suffered from bronchitis, and nearly 75% of cases were elderly above the age of 45. The total evidence of chronic bronchitis amounted to 8.9 million of whom, 5.9 million were women. Emphysema accounted for approximately 3.5 million Americans with geriatrics accounting for greater than 90% of cases. Almost 3.2 million U.S. citizens suffered from emphysema.
COPD figures ranged from 174.5 million worldwide, corresponding to an increase of 44.2% over the last decade. The U.S. accounted for 16 million COPD cases, according to the American Lung Association (ALA). Thus, a large and prospering market exists which needs to be tapped.
Growing exposure to risk factors such as smoking, pollutants such as chemicals, fumes, and dust is driving large incidence rates. According to the World Health Organization (WHO), one among five smokers contracts COPD.
Major Players:
Players leading the global pulmonary function testing market players include Medical Equipment Europe GmbH, COSMED SRL, Vyaire Medical, Inc, MGC Diagnostic Corporation, and Medical Technologies, Vyaire Medical, Inc., Hocoma, Schiller AG, Medical Electronic Construction, Eco Medics AG, Chest M.I.Inc, Ganshorns, Morgan Scientific Inc., among others.
Global Pulmonary Function Testing Market – Segments
The report is segmented into six dynamics to widen the scope of understanding,
By Type : Complete PFT Systems and Portable PFT Systems.
By Test Type : Spirometry, Lung Volume, Gas Exchange Testing, Maximal Voluntary Ventilation, Oxygen Titration Test, and High-Altitude Simulation Testing.
By Component : Software, Hardware, and Services.
By Application : Asthma, Chronic Obstructive Pulmonary Disease, Chronic Shortness of Breath, and Restrictive Lung Disease.
By End-user : Hospital/Clinical Laboratories and Diagnostic Laboratories, among others.
By Regions : Europe, North America, Asia Pacific, and the Rest-of-the-World.
Global Pulmonary Function Testing Market – Regional Analysis
North America dominates the global pulmonary function testing market owing to the large patient population, excellent reimbursement, and high healthcare expenditure. The presence of large payers and the high cost of testing are other drivers of the market. The expanding rebate on diagnostics is further espousing the market growth.
The pulmonary function testing market in Europe is growing rapidly owing to the presence of large medical device companies in Germany and the large healthcare expenditure. The proliferating healthcare industry and developed infrastructure are further driving the market growth.
The Asia Pacific pulmonary function testing market is anticipated to drive a large growth owing to large potential. The low diagnostic rates in the region provide ample opportunities for market growth. The growing rates of smoking are other drivers of market growth. South Korea alone accounts for 10.1% of market share in 2017 owing to its large smoker population.
Global Pulmonary Function Testing Market – Competitive Landscape
The pulmonary function testing market is fragmented and highly competitive due to the presence of several big and small players. Hospital testing departments dominate a large market. There is a definite shift towards the outpatient department. Compulsory screening has also provided a considerable impetus to the market.
Players are relying on collaboration and partnerships with hospitals so as to increase market penetration of their products. Companies are also employing numerous distributions channels and engaging healthcare payers such as insurance companies to enhance market share. A large market is accounted for by geriatrics suffering from age-associated lung impairment.
Related Reports:
For more information visit at MarketResearchFuture
Comments (0)