Fort Collins, Colorado, Sept. 05, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Peak Flow Meter Market Size, Growth, Share, Statistics Analysis Report, By Product (Digital Peak Flow Meter, Mechanical Peak Flow Meter), By Application (Chronic Obstructive Pulmonary Disease, Asthma, Others), By End-Users, By Region And Segment Forecasts, 2023-2032."
According to DataHorizzon Research, the peak flow meter market size was valued at USD 27.1 Billion in 2022 and is expected to reach a market size of USD 40.6 Billion by 2032 with a CAGR of 4.2%. The rising prevalence of respiratory diseases, mainly asthma and COPD, has been a prominent driver of the peak flow meter market growth. According to the World Health Organization (WHO) data on respiratory diseases, over 339 million people suffer from asthma worldwide, while COPD affects over 200 million individuals annually. The industry players are adopting innovative product launches and strategic collaborations to augment their geographical presence. Residential Water Meter
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Market Size, Estimations, Competitor Analysis, Trends, and Growth Factors
Digital peak flow meter, mechanical peak flow meter
Chronic obstructive pulmonary disease, asthma, others
Hospital, homecare settings, clinics, diagnostic centres
North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa.
U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among others
Hoffer Flow Controls, Inc., Medline Industries, Inc., John C. Ernst Co., Inc., Koninklijke Philips N.V., JSB Health & Fitness Pvt Ltd., Esko Industriesa, ResMed Corp., Siemens. Haag-Streit Holding AG, Vitalograph Ltd., and Becton and Dickinson Company (BD) among others.
The global market has been segmented as product, application, end-user, and region. The mechanical flow meter dominated the global market in 2022 and is projected to grow more in the forthcoming years. The application segment is projected to account for a prominent market share in the following years due to the rise in asthma patients. The hospital segment accounted for a leading share of end-users due to patients' significant use of respiratory monitoring devices.
Based on region, Europe is a growing market for peak flow sensors due to the population's growing cases of respiratory diseases and favorable healthcare policies. The growing emphasis on preventive care strategies and the growing adoption of home-based treatments determine positive market developments in Europe. On the other hand, the Asia Pacific is projected a rapid growth owing to the high prevalence of respiratory diseases and improving healthcare infrastructure. Besides, the increase in healthcare expenditure in Asia Pacific is one of the significant indicators for industry growth.
Key Developments in the Industry:
In 2023, Tenovi, a remote patient monitoring (RPM) solutions leader, introduced a Peak Expiratory Flow Meter (PFM) for asthma patients that enables remote monitoring for these patients and retrieves data in real-time for clinicians. Unlike the manual peak flow meters that manually record and display lung function parameters to the provider only during patient visits. Contrarily, PFM allows real-time monitoring of peak exploratory flow, which is an essential parameter of lung function in asthma patients that allows early intervention and effective management of the patient’s health condition.
In 2022, Zawya, a UK-based healthcare organization, showcased a ‘smart’ peak flow meter that connects easily at wireless mode with a patient’s Bluetooth and headphone jack and enables the patients to measure and track their readings using a Smart peak flow meter mobile app. It is also one of the most downloaded apps in the UK. The company sources have shared that the design accelerates the telemedicine approach in the region, thereby empowering asthma patients to self-monitor health parameters without clinical supervision.
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Peak Flow Meter Market Report Highlights:
The peak flow meter market is anticipated to grow positively and reach a CAGR of 4.2% by 2032. The prevalence of respiratory diseases, the rise in awareness about disease management, and the high focus on preventive cure strategies will likely encourage significant market growth.
The growing focus on preventive care strategies to limit the cases of respiratory disease is driving the need for monitoring devices.
The growth in the aging population has triggered the need for peak flow meters, as the elderly often require lung function monitoring.
Based on product, the mechanical peak flow meter registered a significant growth in 2022.
Based on application, the asthma segment accounted for a high growth due to the huge demand for peak flow meters in asthma patients.
Based on region, North America registered a huge growth in 2022, attributed to the population's technological advancements and growing awareness of respiratory health.
Some of the prominent players in the peak flow meter market include Hoffer Flow Controls, Inc., Medline Industries, Inc., John C. Ernst Co., Inc., Koninklijke Philips N.V., JSB Health & Fitness Pvt Ltd., Esko Industries, ResMed Corp., Siemens, Haag-Streit Holding AG, Vitalograph Ltd., and Becton and Dickinson Company (BD).
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Peak Flow Meter Market Segmentation:
Peak Flow Meter Market, By Product (2023-2032)
Peak Flow Meter Market, By Application (2023-2032)
Peak Flow Meter Market, By End-users (2023-2032)
Peak Flow Meter Market, By Region (2023-2032)
Rest of the Middle East & Africa
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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