Peak Flow Meter Market to Surpass US$ 45 Billion at a CAGR of 4.3% by 2034: Fact.MR Analysis
Growing Prevalence of Respiratory Diseases Generating High Need for Peak Flow Meters
Rockville , Nov. 09, 2023 (GLOBE NEWSWIRE) -- Worldwide demand for peak flow meters is calculated at a value of US$ 29.5 billion for 2024, as per a study published by Fact.MR, a market research and competitive intelligence provider. The global *Peak Flow Meter Market* is predicted to reach a value of US$ 45 billion by the end of 2034. Growing base of patients suffering from chronic infections owing to poor air quality and smoking is leading to the rising sales of peak flow meters.
· According to the World Health Organization, more than 339 million people are afflicted with asthma globally.
Patients and healthcare professionals recognize the need for regular and accurate lung function measurements to prescribe medications and assess disease progression. Organizations and healthcare professionals are focusing on preventive care strategies to minimize the burden of respiratory diseases.
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*Key Segments of Peak Flow Meter Industry Research Report*
*By Type* *By End User* *By Region*
· Digital Meters
· Mechanical Meters
· Hospitals
· Homecare Settings
· Diagnostic Centers
· Clinics
· North America
· Europe
· East Asia
· Latin America
· Middle East & Africa
· South Asia & OceaniaA noticeable shift toward self-management of chronic diseases and home-based healthcare is predicted to boost demand for peak flow meters as a significant part of the daily routine of the patients. Individuals can monitor proactively their lung function with regular measurement of their PFFR (peripheral fractional flow reserve) at home to detect early signs of respiratory issues.
*Key Takeaway from Market Study*
· Worldwide sales of peak flow meters reached US$ 28.28 billion in 2023.
· The global peak flow meter market is estimated at US$ 29.5 billion in 2024.
· Global demand for peak flow meters is projected to reach a valuation of US$ 45 billion by 2034-end.
· The market is predicted to expand at 4.3% CAGR from 2024 to 2034.
· The North American market is predicted to contribute a significant share to global revenue by 2034-end.
· Growing adoption of digital healthcare devices is predicted to lead to the rising popularity of digital peak flow meters.
*“Early diagnosis, growing patient awareness, increasing cases of asthma, and higher per capita expenditure on healthcare is predicted to boost demand for peak flow meters,”* says a Fact.MR analyst.
*Technological Advancements in Healthcare Fostering Growth Opportunities in North America*
In the healthcare sector of North America, specific technological advancements are currently underway. There is an increase in the number of individuals struggling with asthma and obstructive pulmonary disorders, and this is one of the prominent reasons contributing to the rising demand for peak flow meters. These devices can detect breathing issues efficiently.
*Key Market Players*
Key manufacturers of peak flow meters are DeVilbiss Healthcare LLC, Vitalograph Ltd., Koninklijke Philips N.V., ResMed Inc., Medline Industries Inc., Haag-Streit Group, Hoffer Flow Controls, Inc., JSB Health & Fitness Pvt. Ltd., Dickinson & Company, ESCO Industries, and Becton.
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*Report Attribute* *Details*
Value Projection (2034) USD 45 Billion
Growth Rate (2024-2034) 4.3% CAGR
No. of pages 170 Pages
No. of Tables 49 Tables
No. of Figures 89 Figures
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Market Competition*
Companies in the market are implementing a variety of strategies to achieve diverse objectives, including efficient supply chain management, stringent product quality control, and the promotion of innovative developments. These strategies encompass new product launches, strategic collaborations, and more, both organically and through inorganic means, as market players seek to expand their geographic footprint.
*For instance:*
*Medline's Strategic Acquisition:* In May 2021, Medline made a significant move by acquiring Hudson RCI, a well-established brand in the respiratory field. This strategic initiative is poised to contribute to the growth of the respiratory market, addressing various respiratory diseases, including asthma.
*DKSH Holding's Smart Partnership:* In March 2021, DKSH Holding entered into a partnership with Smart Respiratory Products. This collaboration aims to provide smart peak flow meters to asthmatic patients in the Asia Pacific region, allowing them to monitor their respiratory conditions while maintaining a comprehensive record of their health.
*More Valuable Insights* *on Offer*
Fact.MR, in its new offering, presents an unbiased analysis of the peak flow meter market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on type (digital meters, mechanical meters) and end user (hospitals, diagnostic centers, clinics, homecare settings), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
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*Asthma Treatment Market**:* The global asthma treatment market is projected to reach a revenue of US$ 35.4 billion increasing at 3.2% CAGR from 2023 and 2033. currently accounting for a market value of US$ 25.8 billion.
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