Global Peak Flow Meters Market Size, Trends & Growth Opportunity, By Product Type (Electronic Meter and Mechanical Meter), By Application (Asthma, Chronic Obstructive Pulmonary Disease, and Others), By Region and Forecast till 2030

Global Peak Flow Meters Market

Peak flow meter is defined as a medical device which is used to measure the lungs function in the body. These devices are portable, easy-to-use which measures the air flow or peak expiratory flow rate to determine the severity of asthma, monitor the treatment of chronic asthma, and provide information for any changes. Also, it helps in detecting allergies in order to prevent severe asthma attack. Peak flow meter needs extra care & cleaning procedure for asthma treatment as well as to prevent respiratory infection rate.

Market Drivers

The increase in prevalence of respiratory diseases like COPD (Chronic Obstructive Pulmonary Diseases), asthma, and neurological diseases is expected to boost the global peak flow meter market growth over the forecast period. For instance, in 2014, as per the information provided by Canadian Lung Association (CLA), approximately 2.5 million people in Canada suffered from asthma, including 1 million males and 1.4 million females. Also, in 2017, according to the WHO (World Health Organization), around 235 million people suffered from the asthma which is a major non-communicable disease.

Furthermore, the increase in geriatric population with respiratory illness will positively influence the market growth. Moreover, the increase in research and development initiatives for asthma, are increasing demand for diagnostic imaging devices are expected to propel the global peak flow meters market growth during the forecast period.

Market Restraints

High cost of treatment and innovation in drugs as well as devices including inhalers are expected to hinder the growth of global peak flow meter market throughout the forecast period.

Market Segmentation

The Global Peak Flow Meters Market is segmented into product type such as Electronic Meter and Mechanical Meter. Electronic meter is expected to hold largest market share during this forecast period. These are easily adaptable and easy to operate. Further, market is segmented into application such as Asthma, Chronic Obstructive Pulmonary Disease, and Others. Asthma is a fastest growing segment, owing to the increase in prevalence as well as incidence of respiratory diseases across the globe.

Impact of COVID-19

Since the COVID-19 virus outbreak in December 2019, the disease has spread to across the globe with the World Health Organization (WHO) declaring it a public health emergency. For instance, as per the information provided by the World Health Organization report, as of May 15, 2020, there are around 4,307,287 individuals affected with coronavirus, worldwide. The increase in incidence of COVID-19 is expected to significantly affect the demand and supply of peak flow meter over the forecast period.

Regional Analysis

 Global Peak Flow Meters Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

The North America region dominates the overall peak flow meter market, owing to high incidence of asthma, patient awareness, and high per capita health care expenditure. Early Phase diagnosis & treatment of diseases are fueling the medical biotechnology market which in turn is anticipated to augment the peak flow meter market in the region. For instance, according to the Asthma and Allergy Foundation of America, approximately 24 million people in the United States are affected with asthma, making it as one of the most common & costly disease in the region. Also, the Europe is the second largest market for peak flow meter, owing to the favorable government policies regarding health care infrastructure & awareness programs. The market in APAC is expected to grow at higher rate due to increase in population, rise in mortality rate for asthma, changing lifestyle, growing awareness among patients, and increasing per capita expenditure. These factors support the growth of the peak flow meter market in the region.

Key Players

The increase in demand and usage of peak flow meter has influenced major players to expand their product portfolio and strengthen their position in the market, this has led to growing adoption of inorganic strategies including mergers & acquisitions. Major key operating players in the market such as Vyaire Medical, Omron, Microlife, Vitalograph, Trudell Medical International, DeVilbiss Healthcare, GaleMed Corporation, Rossmax International, SHL Telemedicine, Fyne Dynamics, etc.

Market Taxonomy

By Product Type

• Electronic Meter

• Mechanical Meter

By Application

• Asthma
• Chronic Obstructive Pulmonary Disease
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Peak Flow Meters Market?
• What will be the growth rate from 2019 to 2030?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?