Peak Flow Meter Market: Types, Key Players, Product, Demand & Industry Forecast till 2034

Global peak flow meter demand is expected to reach US$ 29.5 billion in 2024, according to a Fact.MR report (a market research and competitive intelligence company). By the end of 2034, the peak flow meter market is expected to grow to a value of US$ 45 billion worldwide. The number of patients with chronic illnesses is increasing due to smoking and poor air quality, which is driving up demand for peak flow meters.

• The World Health Organization estimates that over 339 million people worldwide suffer from asthma.

Both patients and medical experts understand that in order to provide treatment and monitor the course of the disease, precise and consistent assessments of lung function are necessary. Preventive care techniques are the focus of organizations and healthcare professionals in an effort to reduce the incidence of respiratory disorders.

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Key Segments of Peak Flow Meter Industry Research Report

It is anticipated that a discernible trend toward the self-management of chronic illnesses and home-based healthcare would increase demand for peak flow meters as a vital component of patients' everyday lives. By routinely measuring their peripheral fractional flow reserve, or PFFR, at home, people can proactively monitor their lung function and identify any early warning indications of respiratory problems.

Key Takeaway from Market Study

• In 2023, peak flow meter sales worldwide reached US$ 28.28 billion.
• It is projected that the peak flow meter market would reach US$ 29.5 billion by 2024.
• By the end of 2034, peak flow meter demand is expected to be valued at US$ 45 billion worldwide.
• The market is expected to grow between 2024 and 2034 at a 4.3% CAGR.
• By the end of 2034, it is expected that the North American market will have made a substantial contribution to global revenue.
• It is anticipated that as more digital healthcare equipment are adopted, digital peak flow meters will become more and more popular.

 “The market for peak flow meters is expected to increase due to factors such as early diagnosis, more patient awareness, an increase in asthma cases, and higher per capita healthcare expenditures,” says a Fact.MR analyst.

Technological Advancements in Healthcare Fostering Growth Opportunities in North America

Particular technological developments are presently under process in the North American healthcare industry. One of the main factors driving up demand for peak flow meters is the rise in the number of people suffering from obstructive lung diseases and asthma. These gadgets are effective at identifying 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

Businesses in the industry are employing a range of tactics to accomplish a wide range of goals, such as effective supply chain management, strict product quality control, and the encouragement of creative breakthroughs. In order for market participants to increase their geographic footprint, these techniques include the introduction of new products, strategic partnerships, and more. They can be implemented both naturally and by inorganic means.

For instance:

The strategic acquisition of Hudson RCI, a reputable brand in the respiratory industry, was a major step made by Medline in May 2021. This strategic strategy, which addresses a range of respiratory disorders, including asthma, is expected to support the expansion of the respiratory market.

The Smart Partnership between DKSH Holding and Smart Respiratory Products was formed in March 2021. Through this partnership, asthmatic patients in the Asia Pacific area will be able to monitor their respiratory ailments and keep detailed health records, all while receiving smart peak flow meters.

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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