At 7.19% CAGR, Global Lung Assessment Device Market to Surpass US$ 20.56 Bn By 2030, Forecast Report By Zion Market Research

January 5, 2024

20

Lung Assessment Device Market

The global Lung Assessment Device market size was evaluated at $11.80 billion in 2022 and is slated to hit $20.56 billion by the end of 2030 with a CAGR of nearly 7.19% between 2023 and 2030.

Global Lung Assessment Device Market: Overview

Respiration is an irreplaceable life process. A normal human body is able to breathe properly for decades but the growing pollution in the metropolitan cities and unhealthy lifestyle is clogging the airways and other lung structures which in turn causing various respiratory issues in the human body. Lung assessment devices facilitate medication to manage the arising symptoms and mitigate the acceleration of multiple lung disorders like asthma and chronic obstructive pulmonary disease. These devices have single or multiple combinations of drugs like corticosteroids and bronchodilators. Lung assessment is a kind of noninvasive test that is used to examine the working status of the lungs. Lung assessments are used to measure peak expiratory flow rate, forced expiratory flow, functional residual capacity, forced vital capacity, vital capacity, total lung capacity, forced expiratory volume, minute volume, residue volume, and tidal volume.

Get a Free Sample : https://www.zionmarketresearch.com/sample/lung-assessment-device-market

Global Lung Assessment Device Market: Growth Factors

One of the major factors driving the growth of the global lung assessment device market is the growing prevalence of respiratory diseases all across the world. Moreover, the growing geriatric population coupled with the rise in pollution levels in metropolitan cities is also boosting the growth of the global lung assessment device market. The adoption of unhealthy lifestyles like smoking has propelled the demand for lung assessment devices in the market globally. The manufacturers in the global market are launching wearable strain sensors for advanced management of chronic lung diseases to measure the respiration rate and volume with high accuracy. Favorable healthcare policies along with the increasing initiatives of the government to reduce the burden of diseases are some of the key factors bolstering the growth of the global lung assessment device market. Prominent market players are increasing investments to boost the research and development activities to launch advanced devices that are capable of detecting respiration under different ambulatory conditions. Moreover, the growing awareness among people regarding lung assessment tests is also propelling the demand for lung assessment devices in the market globally.

Global Lung Assessment Device Market: Segmentation

The global lung assessment device market can be segmented into product, end-user, and region.

By product, the market can be segmented into spirometers, mechanical ventilators, pulse oximeters, polysomnographic devices, positive airway pressure devices, oxygen concentrators, nebulizers, and respiratory consumables. The spirometer segment holds the largest share in the global lung assessment device market due to the growing incidences of chronic lung disorder. Moreover, the pulse oximeter segment is also expected to witness huge growth during the forecast period due to the spike in demand for the lung assessment test.

By end-user, the market can be segmented into long-term care centers, clinics, ambulatory surgical centers, hospitals, and others. The hospital segment accounts for the largest share in the global lung assessment device market owing to the large number of market players receiving approval for home-use lung assessment devices.

Global Lung Assessment Device Market: Regional analysis

North America accounts for the largest share in the global lung assessment device market owing to the rising prevalence of respiratory disease in the region. Favorable healthcare policies and growing awareness of people regarding their health are contributing vigorously towards the growth of the regional market.

Europe accounts for the second-largest share in the global lung assessment device market due to the high incidences of chronic lung disorder coupled with the growing awareness of people regarding the lung assessment test.

Asia Pacific is also anticipated to witness huge growth during the forecast period due to the presence of prominent market players in the region along with the growing government initiatives supporting the growth of healthcare infrastructure.

Directly Purchase a copy of the report with TOC @

https://www.zionmarketresearch.com/toc/lung-assessment-device-market