Peak Flow Meter Market

Peak Flow Meter Market Outlook (2024 to 2034)

Fact.MR, in its latest study, reveals that the global peak flow meter market size is valued at US$ 29.5 billion for 2024. Worldwide sales of peak flow meters are projected to rise at a CAGR of 4.3% and reach US$ 45 billion by 2034-end. Growing prevalence of COPD (chronic obstructive pulmonary diseases), asthma, and other lung disorders is predicted to boost demand for peak flow meters.

Constant monitoring of lung function is required in respiratory conditions, and peak flow meters are adopted as essential tools by healthcare providers for the assessment and management of these diseases. Patients are becoming aware of the contribution of asthma management tools for constant monitoring of their lung function.

Key Market Growth Drivers

• With a growing aging population, the chances of the prevalence of different respiratory diseases also increase. This demographic shift is predicted to contribute to the rising demand for lung function testing tools.
• Rising adoption of self-monitoring and home healthcare facilities is predicted to stimulate the demand for portable and user-friendly medical devices, including digital respiratory devices. Many patients prefer to monitor their lung function in home settings and share the data with healthcare providers to get further treatment.

Several environmental factors such as allergens and pollutants can exacerbate respiratory conditions. As a result, the increasing significance of these factors is projected to lead to a growing preference among individuals to monitor their lung function, ultimately contributing to the increased adoption of peak flow meters.

In recent years, people have been spending significantly on healthcare facilities, and therefore, more resources are allocated for the effective management of chronic conditions. This trend is predicted to result in the rising adoption of healthcare tools, including peak flow meters for the reduction of hospitalization costs and effective management of health in home settings.

Worldwide demand for peak flow meters is driven by the rising prevalence of respiratory diseases, increasing healthcare awareness, technological advancements, and the rising importance of self-monitoring and home healthcare facilities. Therefore, these healthcare tools are becoming essential for healthcare professionals and patients.

Report Attributes	Details
Peak Flow Meter Market Size (2023A)	US$ 28.28 Billion
Estimated Market Value (2024E)	US$ 29.5 Billion
Forecasted Market Value (2034F)	US$ 45 Billion
Global Market Growth Rate (2024 to 2034)	4.3% CAGR
Key Asia Pacific Markets	India and China
North America Market Share (2023)	41%
Key Companies Profiled	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; Esko Industriesa; Becton

Why is Demand for Peak Flow Meters Increasing across Regions?

“Growing Respiratory Disorder Prevalence and Need for Regular Monitoring of Lung Function”

Rising prevalence of different types of respiratory diseases is predicted to serve as a compelling factor to drive sales of peak flow meters. Environmental pollutants, lifestyle changes, and allergens are creating an environment that is contributing to rising issues of respiratory disorders.

• In 2019, the World Health Organization (WHO) reported the presence of approximately 262 million individuals with asthma. Additionally, this respiratory disorder led to 461,000 deaths worldwide.

Increasing industrialization and urbanization contribute to the exposure of different pollutants resulting in increased respiratory diseases. Further, unhealthy dietary habits, increasing stress levels, and sedentary lifestyles are having a detrimental impact on the overall health of individuals.

Genetic factors are estimated to contribute to the development of different respiratory diseases. Families with a history of asthma or similar lung disorders are predicted to be affected by respiratory disorders more compared to others.

Given the rising prevalence of different respiratory diseases, there is a crucial requirement for regular monitoring of lung function as an essential practice for healthcare providers and patients. Peak flow meters are adopted as prominent tools in this respect. Their ability to track changes and assess lung function is contributing to increased demand.

“Increasing Focus on Preventive Care by Governing Bodies and Organizations”

Healthcare organizations and governments from numerous countries, around the world, are concentrating on preventive care strategies to minimize the burden of various respiratory disorders. Regular monitoring of a patient's lung function with the adoption of peak flow meters is predicted to help in the early detection of any sort of changes in airway function.

Peak flow meters help facilitate timely interventions along with the prevention of the spread of diseases. Therefore, they are recognized as crucial preventive care tools in the healthcare systems across regions.

What is Adversely Affecting the Demand Growth for Peak Flow Meters?

“Limited Stock of Peak Flow Meters and Lack of Product Awareness”

The limited stock as well as reduced awareness about peak flow meters in emerging economies is predicted to adversely impact their demand. In addition, result manipulation is also one of the prominent issues associated with these meters that can impede the economic expansion of the global market.

What Initiatives Can Start-ups Take to Enhance Their Market Presence?

“Emphasis on Development of Smart Pocket Respiratory Monitoring Meters”

To enhance product efficiency, startups have the opportunity to invest in the development and improvement of peak flow meters. The development of smart pocket respiratory monitoring meters is crucial because of their accurate results. In addition, the easy operation and portability of peak flow meters are projected to open up lucrative opportunities for start-ups. Moreover, the feature of these newly developed meters to get easily connected to phones is also driving product demand.

Country-wise Insights

North America accounted for 41% of global peak flow meter market share in 2023.

• The Asthma and Allergy Foundation of America mentioned that growing cases of asthma make it one of the most expensive and common diseases across the United States.

Why is the United States Becoming a Regional Powerhouse in This Market?

“Rising Cases of Asthma and Robust Healthcare Reimbursement Systems”

Demand for peak flow meters is projected to increase in the United States on the back of the rising cases of asthma there. Therefore, peak flow meters are adopted as a significant part of regular healthcare practices in the country. Robust reimbursement systems, well-established healthcare systems, and the presence of some prominent players are some other key factors boosting demand for peak flow meters.

What’s Shaping the Demand for Peak Flow Meters in Asian Countries?

“Rising Government Initiatives Providing Easy Access to Peak Flow Meters in India and China”

India and China are estimated to contribute a considerable share of the regional market revenue collectively in 2034. Governments from these countries are taking initiatives to assist in gaining access to lung function testing meters. This can help patients to keep a track record of their lung function and in case of any alarming situation, medical assistance can be taken immediately. Moreover, growing awareness about respiratory health and rising healthcare expenditures are predicted to fuel peak flow meter market growth.

Category-wise Insights

Digital peak flow meters are forecasted to occupy a leading market share in 2034, according to the study published by Fact.MR, a market research and competitive intelligence provider. The extensive adoption of digital meters in the healthcare sector is predicted to contribute to revenue streams. In addition, these digital healthcare devices allow self-monitoring facilities for patients with high efficiency compared to their mechanical counterparts.

Why are Mechanical Peak Flow Meters Ruling the Market?

“Affordability and Portability of Mechanical Peak Flow Meters Driving Product Sales”

The global market is classified into digital and mechanical meters, based on product. Demand for mechanical meters is predicted to contribute significantly to the global market growth due to their simple mechanism. In addition, the easy availability and affordability of mechanical meters compared to their digital counterparts are leading to their extensive application range among patients.

Popularity of mechanical peak flow meters is attributed to their long-term reliability and durability. Fewer electronic components of mechanical meters make them a preferred choice among patients who need devices for regular use as there are minimal chances of their malfunctioning.

Increasing inclination to mechanical meters is also owing to their lightweight and compact design, ensuring portability. This portability feature is pivotal for patients who need regular monitoring of their lung function.

Market Competition

Companies are implementing a range of strategies to fulfill diverse objectives, including the management of supply chain systems, ensuring product quality control, and fostering new developments. New launches, collaborations, etc., are some organic and inorganic strategies adopted by market players to expand their reach across geographies.

For instance :

• In May 2021, Medline acquired Hudson RCI, a well-recognized respiratory brand. This initiative by the company is predicted to contribute to the growth of the respiratory market to fight several respiratory diseases, including asthma.
• In March 2021, DKSH Holding entered into a partnership with Smart Respiratory Products to offer smart peak flow meters to asthmatic patients in Asia Pacific to monitor respiratory conditions while keeping a record of their health.

Prominent players in the peak flow meter market 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.

Segmentation of Peak Flow Meter Market Research

• By Type :

  • Digital Meters
  • Mechanical Meters

• By End User :

  • Hospitals
  • Homecare Settings
  • Diagnostic Centers
  • Clinics

• By Region :

  • North America
  • Europe
  • East Asia
  • Latin America
  • Middle East & Africa
  • South Asia & Oceania