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Lung Assessment Device Market Segmented By Product Type such as Spirometer, Pulse Oximeter, Body Plethysmograph, Pulmonary Function System, Capnography, Peak Flow Meters, Gas Analyzers, Others
Lung function tests are noninvasive tests that are used to check how well the lungs are working. Lung function tests measure lung capacity, volume, rates of flow, and gas exchange. This information is helpful for diagnose and for treatment of various lung diseases such as chronic obstructive pulmonary disease (COPD), Asbestosis, asthma, emphysema, Respiratory infections, Sarcoidosis and Scleroderma.
Lungs assessment devices are used to measure Tidal volume, Residual volume, Minute volume, forced expiratory volume, total lung capacity, Vital capacity, forced vital capacity, functional residual capacity, forced expiratory flow and peak expiratory flow rate.
PulmoScan, the world's first home-usable lung assessment device investigated by Cognita Labs, issued clearance by the U.S. Food and Drug Administration (FDA) to measures airway resistance and elastance. MightSat Rx-finger pulse oximeter developed by Masimo received the USFDA approval in January 2019, to be used at home.
The COVID-19 pandemic has an impact on several industries. Due to COVID-19 outbreak, the rate of patients visiting the hospitals has declined which contributed to the reduction in the diagnosis rate of lung disease. Besides, the manufacturing industries are disturbed due to lockdown causing unparalleled technology and transfigure of business model. These might cause a disturbance in the supply of medical devices.
Rising prevalence of respiratory diseases such as asthma and chronic obstructive pulmonary diseases (COPDs), growing geriatric population, increasing prevalence of smoking, increase in pollution levels and lifestyle changes are some of the major factors driving lung assessment device market growth.
Manufacturers in the lung assessment device market are introducing wearable strain sensors for effective management of chronic lung diseases and measurements on volume and respiration rate (RR) with high accuracy which results in lung assessment device market growth.
Increasing in healthcare expenditure, favourable medical schemes & reimbursement policies are some of the key factors that supplement the growth of lung assessment device market. Strict regulatory compliance procedures and the cost of the device may restrain the growth of the lung assessment device market.
Lung assessment device market has been segmented based on Product, end-users and regions.
Based on product, Spirometer segment dominates the lung assessment market followed by a pulse oximeter. Rising prevalence of chronic lung disorder, an increase in demand for lungs function test leads this segment to hold a major share in lung assessment device market.
Based on end-users, the hospital's segment holds for a larger share of the lung assessment device market. The home care segment is expected to have significant growth, due to an increase in the number of key participants receiving U.S.FDA approval for home use lung assessment devices.
North America is expected to hold a major share in the Lung assessment device Market due to the increasing prevalence of respiratory diseases in this region. Europe showed significant growth owing to an increase in cases of chronic lung disorders and an increase in awareness about the lung assessment tests as well as advanced healthcare structure.
The Asia Pacific is also expected to have a rapid growth in the Lung assessment device Market due to the increased in government initiatives, investment of prominent company as well as advancement in the healthcare system to develop lung assessment device more user friendly.
The key participants operating in the global Lung assessment device Market are Medtronic, Novelda AS, MGC Diagnostics Corporation, Nihon Kohden Corporation, Ganshorn, Welch Allyn, Inc., Anhui Electric Science, Philips Healthcare, Drägerwerk AG & Co., Smiths Medical, Vyaire Medical Inc., KGaA, COSMED, Masimo. Becton, Dickinson and Company, MGC Diagnostics, Eco Physics and Schiller AG.