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Peak Flow Meter Market Size to Reach USD 45 Billion at a CAGR of 4.3% by 2034 | Fact.MR

05-21-2024 05:32 AM CET | Health & Medicine

Press release from: Fact.MR

Peak Flow Meter Market

Peak Flow Meter Market

According to a study provided by Fact.MR, a market research and competitive intelligence service, global demand for peak flow meters is expected to reach $29.5 billion by 2024. The global Peak Flow Meter Market is expected to reach US$ 45 billion by the end of 2034. The growing number of people suffering from chronic infections caused by poor air quality and smoking is driving up sales of peak flow meters.

According to the World Health Organization, more than 339 million people suffer with asthma worldwide.
Patients and healthcare professionals understand the importance of regular and precise lung function evaluations when prescribing drugs and assessing illness progression. Organizations and healthcare professionals are focused on preventative care techniques to reduce the prevalence of respiratory disorders.

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A marked shift toward self-management of chronic diseases and home-based healthcare is expected to increase demand for peak flow meters as patients incorporate them into their daily routines. Individuals can monitor their lung function on a regular basis at home by measuring their PFFR (peripheral fractional flow reserve) to discover early indicators of respiratory disorders.

Key Takeaway from Market Study

In 2023, global peak flow meter sales totaled US$ 28.28 billion.
The global peak flow meter market is expected to reach $29.5 billion by 2024.
Global demand for peak flow meters is expected to exceed $45 billion by the end of 2034.
The market is expected to grow at a 4.3% CAGR from 2024 to 2034.
The North American market is expected to contribute significantly to worldwide revenue by the end of 2034.
Growing acceptance of digital healthcare devices is expected to boost the popularity of digital peak flow meters.

"Early diagnosis, greater patient awareness, increasing occurrences of asthma, and higher per capita expenditure on healthcare are expected to enhance demand for peak flow meters," says a Fact.MR analyst.

Technological Advancements in Healthcare Fostering Growth Opportunities in North America

Specific technological developments are currently taking place in North America's healthcare industry. The number of people suffering from asthma and obstructive lung illnesses is on the rise, which is one of the major reasons for the increased need for peak flow meters. These gadgets are quite effective at detecting breathing problems.

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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Market Competition

Companies in the market are employing a variety of tactics to achieve a wide range of goals, including effective supply chain management, stringent product quality control, and the promotion of novel advancements. As market players attempt to expand their geographic footprint, they employ a variety of techniques, including new product releases and strategic collaborations, both organically and inorganically.

For instance:

Medline's Strategic Acquisition: In May 2021, Medline made a big acquisition of Hudson RCI, a well-known brand in the respiratory industry. This strategic approach is expected to help to the growth of the respiratory market by targeting a variety of respiratory illnesses, including asthma.

DKSH Holding's Smart collaboration: In March 2021, DKSH Holding formed a collaboration with Smart Respiratory Products. This cooperation seeks to give smart peak flow meters to asthmatic patients in the Asia Pacific area, allowing them to monitor their respiratory problems while keeping a detailed record of their health.

๐‘๐ž๐š๐ ๐Œ๐จ๐ซ๐ž: https://www.factmr.com/report/4099/peak-flow-meter-market

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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