PLETHYSMOGRAPH MARKET SEEN SOARING 4.5% GROWTH, PROJECTS UNIVDATOS MARKET INSIGHTS
- Vikas Kumar
- June 21, 2024
- HEALTHCARE, NEWS
- Plethysmograph, Plethysmograph Market, Plethysmograph Market forecast, Plethysmograph Market share, Plethysmograph Market trends
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Key Highlights of the Report:
- Growing demand in the healthcare sector: The plethysmograph market is experiencing significant growth due to increasing demand in the healthcare sector, driven by growing concerns over widespread alcohol and tobacco consumption.
- Rise in cancer diagnostic & treatment market: There has been a growing demand for respiratory treatment owing to the rising prevalence of ill lifestyles.
- Major investments in advanced plethysmographs: Pharmaceutical companies have adopted collaborative strategies to develop improved methods of working with plethysmographs.
According to a new report by Univdatos Market Insights, the Plethysmograph Market is expected to reach USD Million in 2030 by growing at a CAGR of 4.5%. A plethysmograph is a medical tool that detects volume changes within an organ or body part. It’s commonly utilized in respiratory studies to measure alterations in lung air volume. This device plays a crucial role in diagnosing respiratory ailments and evaluating lung function. Several factors are contributing to the growth of such diagnostics including the increased consumption of alcohol and tobacco, the surge in awareness programs regarding respiratory disorders, and rising investments in diagnostic departments are driving the growth of the healthcare sector. Apart from these factors, rising strategic collaborations are leading the market of medical devices in this forecast period. For instance, the incidence of bradycardia was reported to be approximately 1 in 600 individuals worldwide in September 2020 according to the American Journal of Cardiology.
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Fig: Alcohol Use Disorder Diagnoses Among Age Groups, U.S., 2021
The report suggests that the Rising Expenditure on the Healthcare Sector is one of the major factors driving the growth of the medical device market during the forthcoming years. Money is essential for gaining prominence in the market, and the medical device industry is gaining much of it. This expenditure is driving the market for the development of new technological advancements in the field of diagnostics. In recent years, there has been an increasing number of company and government collaborations focused on plethysmographs. For instance, in November 2023, the Association of Indian Medical Device Industry (AIMED) and the Centre for the Development of Russia Strategic Partnership (DRISP) signed a Memorandum of Understanding (MoU) to promote bilateral trade between both nations. It also provides hope for patients to get better care and support through plethysmography, also it can serve as a doorway to opportunities for offering better diagnostic options in the future.
Body Plethysmographs Gaining Maximum Traction in the Market:
Body plethysmographs continue to be significant tools in respiratory physiology and pulmonary function testing. These devices play a crucial role in assessing lung function by accurately measuring lung volumes and capacities. Body plethysmographs are considered a standard tool in pulmonary function testing laboratories and respiratory clinics. They provide precise measurements of lung volumes, aiding in diagnosing and monitoring various respiratory conditions such as asthma, COPD, restrictive lung diseases, and other pulmonary disorders. In the plethysmograph market, while advancements in technology have led to the development of other techniques and devices for assessing lung function, body plethysmographs maintain their importance due to their accuracy and reliability in measuring lung volumes. Companies involved in the production and development of pulmonary function testing equipment often include body plethysmographs in their product portfolios, emphasizing their role in comprehensive respiratory diagnostics.
Conclusion
The global dual chamber pacemaker market is a rapidly growing field, with advancements in technology leading to improved outcomes for patients with the initial stage of the disease. The global plethysmograph market is expected to continue to grow in the coming years, as new technologies are developed. Overall, the global plethysmograph market represents a significant opportunity for medical device industries, which are making strategic alliances to design effective diagnostics for respiratory disorders. With continued research and development, even more effective and personalized treatments will likely become available in the future, leading to improved outcomes for patients and doctors through plethysmography.
Key Offerings of the Report
Market Size, Trends, & Forecast by Revenue | 2023−2030
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis by Product Type, End User, and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
