The Pulmonary Function Testing Market is expected to reach USD 0.21 billion by 2032 at 4.1% CAGR during the forecast period 2023-2032. Our lungs perform the pulmonary function. This includes inhaling the air by the nasal passage that travels to the lungs, and absorbing oxygen in the blood which is carried to other parts of the body, and exhaling the carbon dioxide as a waste product through the nasal passage. Several tests are being conducted on people to check how efficiently their lungs are functioning. These are performed with the help of pulmonary function testing equipment, pulmonary function testing machine. The tests can be performed for two reasons. Firstly, if there is some blockage or obstruction in the breathing passage. Secondly, if there is some restrain or reduction in the absorption of oxygen by the blood.
In August 2023, the United Kingdom experienced a national release of the controlled AI technology for COPD which involves N-Tidal. This is done by combining N-Tidal's CO2 sensor data with an artificial intelligence platform that can measure changes in lung function indicative of COPD. The medical device can be used to know if a patient is at risk of getting COPD in a few minutes. Health tech firm TidalSense has developed the N-Tidal device.
VYAIRE launched ARTIQ PFT in April 2021 as an automated tool that uses artificial intelligence to interpret pulmonary function tests, which will benefit pulmonologists by providing standardized diagnostic interpretation. This development could result in more demand from hospitals and diagnostic laboratories, thus generating increased levels of growth within the pulmonary function testing market.
In January 2021, NuvoAir announced its collaboration with Roche to allow its technology in selected cystic fibrosis (CF) centers. It's a platform by NuvoAir intended for patients to do lung function assessments while at home, strategically positioning the company for expanding its product portfolio and gaining a competitive advantage.
Mirion Technologies acquired Biodex Medical Systems Inc., merging portfolios to extend Mirion's presence in the medical field, offering pulmonary function testing market offerings and potentially increasing accessibility to advanced diagnostic tools for healthcare facilities worldwide since September 2020.
In January 2020, VYAIRE entered into a distribution agreement with Spirosure Inc., distributing Fenom Pro Asthma monitor across major respiratory labs in Europe and the US, thereby reaching more patients through FeNO measurement technology that would help improve diagnosis capabilities for asthma management as well as improving on treatment.
Resmed completed acquisition of HB Healthcare in August 2019, where this organization was involved in provision of sleep and respiratory care devices for home medical equipment. This acquisition by Resmed helped them in boosting their mechanical ventilators product portfolio as well as increasing the market value leading to an improvement in business revenue.
Covid19 Analysis
Coronavirus is a highly infectious disease that is majorly attacking the respiratory system of people. One of the most common symptoms observed in the people affected by the SARS-Cov2 virus is difficulty in breathing and lowering of oxygen level in the body. The pulmonary function testing market saw a boom throughout the last year because pulmonary function equipment is used to detect the level of infection in the lungs of a patient.
People across the globe are suffering from the covid19. More ventilators, testing kits, and oxygen cylinders are required than they were demanded on the normal days before the global pandemic. The government of every nation is procuring and manufacturing more mobile pulmonary function testing devices which are rapid as well as require less human contact. This has surely given a hike to market for pulmonary function testing share.
Pulmonary Function Testing Market Dynamics
Drivers
The rise in the cases of pneumonia, lung cancer, asthma, and other respiration-related problems has increased the lung function test market size. The widespread highly infectious diseases, rise in air pollution which leads to breathing problems, and drinking and smoking habits that cause lung cancer, are the primary factors that are increasing the demand for pulmonary function equipment. Pulmonary function testing to diagnose asthma holds the greatest market share.
Opportunities
The life expectancy has increased several folds which means that there is a large population of elderly people who are to be medically treated. Diseases such as lung cancer, blockage in the lungs, and asthma are more common in old-aged people. It proves to be an opportunity for the pulmonary function testing market. The awareness among people also increases the demand for portable pulmonary function testing equipment, as they can be easily used in home healthcare.
Restraints
Businesses have to abide by the law of the land and cannot operate outside it. The rigid policies of medical authorities to provide standardized pulmonary function testing (PFT) devices may hinder the growth of the market globally. The raw material for manufacturing or assembling the testing equipment is expensive. This is another obstacle for the manufacturers of pulmonary function testing devices.
Value Chain Analysis
Owing to an unhealthy lifestyle and deteriorating environment, respiratory therapist pulmonary function testing arises. National Central Cancer Registry of China has reported through research conducted that near about 22% of total lung cancer cases from across the globe are from china, and globally, almost 27% of death related to respiratory problems are also reported in china.
The key players of this market globally are striving voluntarily to produce such devices and equipment which are easy to use, portable in nature, and can give concrete results. This is possible with technological advancements.
The pulmonary function testing market can be divided into various segments. These are: based on type, based on test type, based on component, based on application, and based on end-users.
Pulmonary Function Testing Market Regional Analysis
Pulmonary function testing market size is increasing with every passing day. It is leaving its impression in every corner of the world. The regions where they are operating include America, Europe, Asia-pacific, and the rest of the world.
America, which includes the area of North America (the US and Canada) and Latin America, is overshadowing all the other regions. The rise in the percentage of the elderly population, larger investments in medical infrastructure by the authorities, and awareness among the general public related to respiratory diseases are the key driving factors.
The European region which includes Germany, UK, France, Russia, and Italy, has bagged the position of second-largest market share in the pulmonary function testing market globally. Unhealthy lifestyles, rise in the cases of asthma, and other respiratory diseases become the major reason for this.
Asia-Pacific region, which includes China, Japan, India, Australia, and South Korea, provides a huge market for pulmonary function testing. It owns to the fact that the government of these countries is investing a large share of their resources in developing a robust medical infrastructure. South Korea alone accounted for the market share of 10.1% in the year 2017.
The rest of the world, which includes the region of the Middle East and Africa, is showing a constant but slow growth because of the limited resources with the government and lack of awareness among the general public.
Pulmonary Function Testing Market Competitive Landscape
The list of major key players involved in pulmonary function testing (PFT) Market analysis is as follows:
The above-listed come together in the joint venture, mergers and, acquisitions to launching new devices. Their main objective is to deliver devices that are cost-effective, hassle-free in operations, and give concrete results. With advanced technologies, the key players are focusing on developing portable pulmonary function testing devices.
Recent Developments
Various developments that are found in pulmonary function testing Indusrty research are as follows:
Report Overview
This market research report of pulmonary function testing market includes the following elements:
This PFT market research report includes the basic meaning of pulmonary function and how it works. Several tests are being conducted on people to check how efficiently their lungs are functioning. The tests are performed if there is some blockage or obstruction in the breathing passage or if there is some restrain or reduction in the absorption of oxygen by the blood. The most common symptoms observed in the people affected by the SARS-Cov2 virus are difficulty in breathing and lowering of oxygen level in the body. This has increased the market capacity for pulmonary function testing market procedures.
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