Peak Flow Meter Market Size, Share, and Industry Analysis, By Type (Electronic Meter, Mechanical Meter), By Application (Home, Hospital), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Peak Flow Meter Market Report Overview

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The global peak flow meter market size was USD 63 million in 2022 and is projected to touch USD 125.97 million by 2031, exhibiting a CAGR of 8.0% during the projected period.

Peak flow meter represents a portable device that determines how efficiently air exits the lungs. During an asthma attack, the airways frequently narrow. A peak flow meter can detect this narrowing hour, if not days, before the individual experience’s asthma symptoms.  In essence, the meter is so responsive to exchange in the air passages that it is able detect breathing problems sometimes superior than an expert can using a stethoscope to listen to the lungs.  Individuals who take asthma medication whenever the meter reveals changes - before they notice symptoms - may be able to prevent a serious asthma attack.

COVID-19 Impact: Supply and Lockdown Hindrances to Deplete Market Advancement

The global COVID-19 pandemic has been unprecedented and staggering, with peak flow meter higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic had a detrimental effect on most market outlook. The peak flow meter is extensively used at home and at healthcare centers. The affordability and portability of peak flow meters enable many people to use the device at home, which is among the most essential factors driving the expansion of peak flow meter market growth. Rapidly increasing awareness campaigns for the learning and treatment of long-term asthma and obstructive pulmonary disease may be to blame for the peak flow meter market's expansion.

LATEST TRENDS 

"Technological Advancements to Intensify Market Magnification "

Technological advances such as improved monitor adherence have increased demand for digital flow meter over mechanical or physical flow meter. Because digital flow meter has become simpler to comprehend and produce more accurate results, a larger percentage of the population is using them. However, one disadvantage of digital flow meter is their high price particularly in comparison with mechanical flow meter. The technology employed by all of the digital flow meter can indeed be costly.

Peak Flow Meter Market Segmentation

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• By Type

Based on type; the market is divided into electronic meter, mechanical meter

Electronic meter is the leading part of the type segment

• By Application

Based on the application; the market is divided into home, hospital

Home use is the leading part of the application segment.

DRIVING FACTORS

"Pocket Flow Meter to Assist Market Evolution"

The requirement for pocket flow meter is expected to rise steadily over through the forecast period, potentially accelerating the meter growth. The measurement between both expiratory flow rate percentage and forced expiration volume may be the reason for the increased need for digital flow meters. Furthermore, the increased incidences of asthma or chronic obstructive pulmonary illness are two of the primary factors driving the peak flow meter market. Chronic obstructive pulmonary illness and Asthama are the two most common respiratory diseases, and their mortality rates are rising dramatically.

"Smart Peak Flow Devices to Nurture Market Expansion"

The market obtainability of smart peak flow equipment may provide an advantage for substantial growth in the market. Smart peak flow device is one that can be carried in one's pocket and then used anywhere. Because of their small size, easiness, and technology, smart peak flow device is effortlessly connected to smartphone phones and managed.

RESTRAINING FACTORS

"Limited Stock to Diminish Market Growth "

A few of peak flow meter market restraining factors include limited stock and unawareness in some emerging economies. There is also the possibility of peak flow meter results being manipulated, which would impede the economic expansion of peak flow meter market. A shortage of experienced and trained professionals may also stymie the growth of the market.

Peak Flow Meter Market Regional Insights

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"Technological Advancements to Foster Market Growth in North America "

Because of technological advancements in the field of healthcare, North America is predicted to have a major revenue proportion inside the peak flow meter market share. The increasing number of individuals struggling from chronic obstructive pulmonary and asthma illness, which is one of the main reasons for the expansion of the market, is expected to keep the industry stable in North America.

KEY INDUSTRY PLAYERS

"Notable Players in the Industry to Promote Market Expansion "

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the market share features, and market growth by type, industry, and customer sector.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled 

• Vyaire Medical (U.S.)
• Microlife (Switzerland)
• Omron (Japan)
• Vitalograph (U.K.)
• Pari (India)
• Trudell Medical International (Canada)
• DeVilbiss Healthcare (U.S.)
• Rossmax International (Taiwan)
• GaleMed Corporation (China)
• SHL Telemedicine (Israel)
• Piston (India)
• Spengler (France)
• Fyne Dynamics (U.K.)
• GM Instruments (U.S.)

REPORT COVERAGE

The industry report examines the global market, geographic and country-level market sizes, categorization market expansion, market share, competitor analysis, sales trends, influence of domestic and international market players, supply chain enhancement, trade laws, latest developments, possibilities analysis, business strategy market expansion analysis, product releases, area competitive landscape expanding, and technological advancements.

The report also examines the equipment market's current state of development and its overall market trend. It also separates the market by categories based on type and applications in order to conduct a detailed study and demonstrate the industry's characteristics and prospects. By taking into account a range of elements, such as growth rate, trends, industrial advancements, technologies, growth, distribution, and barriers, it offers a thorough assessment as well as a detailed analysis.

If the significant competitors or the predicted assessment of market dynamics change, the analysis would need to be updated. In terms of production, this study looked at consumption, manufacturing, annual growth, and share prices of manufacturers. It also delivers detailed information and cutting-edge assessment required to create an ideal strategic plan and outline the best path for speedy growth for all industry participants. With this knowledge, participants will be better able to build new strategies are focused on market prospects that would benefit them, thereby rendering their company ventures successful. The market informs the readers about its product lines, applications, and specifications. The research identifies key market players and highlights the strategies used by the businesses to strengthen their market position. The strong points, weaknesses, possibilities, and configurations of major manufacturers are comprehensively derived and cited in the report through extensive use of situation analysis tools. Every major player in this world market is profiled, including types of products, companies set up, revenues, skilled workforce, applications, and other requirements. The market has been steadily expanding in recent years and is expected to expand even further in the coming years.