Press release
Peak Flow Meter Market Set To Surge Significantly During 2017- 2025
High prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, and neurological diseases, high geriatric population with respiratory illness, growing research and development initiatives for asthma, are rising demand for diagnostic imaging devices are the major factors driving the global peak flow meter market. According to the World Health Organization, 235 million people currently suffer from asthma. It is most common among children. Growth in medication alternatives and funding from the associations (such as: the Global Alliance against Chronic Respiratory Diseases (GARD) association contributes to World Health Organization to work on prevention of diseases in order to prevent and control chronic respiratory diseases) is likely to fuel the overall peak flow meter market. High cost of treatment and innovation in drugs and devices such as inhalers are expected to hamper the growth of the peak flow meter market.
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The global peak flow meter market has been segmented based on product type, application, end-user, and region. In terms of product type, the market has been classified into low range meter and high range meter. The low range meter segment has been sub-segmented into Mini-Wright meters and assess meter. The high range meter segment has been categorized into Pulmo-graph meter and Wright Pocket meter. Based on application, the global peak flow meter market has been segmented into asthma, chronic obstructive pulmonary disease, and others. Asthma is a rapidly growing application segment because of increasing prevalence and incidence of respiratory diseases globally. According to the WHO, asthma accounted for an estimated 383,000 deaths in 2015. In terms of end-user, the peak flow meter market has been categorized into diagnostic laboratories, life sciences, and research & development. Geographically, the market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America dominates the global peak flow meter market due to high incidence of asthma, patient awareness, and high per capita health care expenditure. Early-phase diagnosis and treatment of disease are driving the medical biotechnology market which in turn is expected to augment the peak flow meter market in North America. According to the Asthma and Allergy Foundation of America, around 24 million people in the U.S. are affected with asthma, making it as one of the most common and costly disease in the region. Europe is the second largest market for peak flow meter due to favorable government policies regarding health care infrastructure and awareness programs. Rise in climatic changes which affect the geriatric population and children’s health causing asthma, common flu, etc. is also likely to propel the peak flow meter market in Europe region. The market in Asia Pacific is expected to grow at higher rate due to rising population, increase in mortality rate for asthma, changing lifestyle, rising awareness among patients, and increasing per capita expenditure. These factors contribute to the growth of the peak flow meter market in Asia Pacific.
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Major players operating in the global peak flow meter market include Medline Industries, Inc., Becton, Dickinson and Company, Siemens Process Instrumentation, Hoffer Flow Controls, Inc., Esko Industries Limited, John C. Ernst Co., Inc., JSB Healthcare, and Koninklijke Philips N.V. among others.
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