Plethysmograph Market: Current Analysis and Forecast (2023-2030)

Report Description

Plethysmograph Market – Current Scenario and Forecast (2023-2030)

The Global Plethysmograph Market is expected to grow at a significant rate of around 4.5% during the forecast period. A plethysmograph is a medical device used to measure changes in volume within an organ or a whole body part. It’s often used in respiratory physiology to measure changes in air volume in the lungs. This device can help diagnose respiratory conditions and assess lung function. Plethysmograph services mainly gained prominence due to the increased consumption of alcohol and tobacco. There has been a significant rise in the market due to this driving factor. In addition to this, investments in healthcare departments as well as government awareness programs regarding lung diseases have increased significantly in recent years, which are the key factors that are creating opportunities for the market. For instance, according to the U.S. Department of Health & Human Services in 2021, about 1 in 20 adults aged 20 and older had CAD (about 5%). Many other factors were identified that helped in propelling the market in the forecast period such as the surge in awareness programs regarding respiratory disorders, the increasing smoking population, and the rising alcoholism culture are also driving the growth of the market.

ACI Medical, LLC; COSMED srl; D. E. Hokanson Inc.; Geratherm Medical AG; medical equipment europe GmbH; Medizinische Messtechnik GmbH; MGC Diagnostics Corporation; Morgan Scientific; PulmOne Advanced Medical Devices; SCHILLER AG are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst product type, body plethysmograph category to witness higher CAGR during the forecast period”

Based on product type, the market is segmented into body plethysmograph, limbs plethysmograph, and others. The body plethysmograph segment is expected to grow with a high CAGR during the forecast period as there is a growing trend of tobacco use, including smoking and chewing tobacco and excessive alcohol use. For instance, according to the National Center for Drug Abuse Statistics, 10.2% of Americans aged 12 years and older had Alcohol Use Disorder in 2020. A body plethysmograph measures the amount of air exhaled]. It helps doctors understand the well-being of the lungs. The results of this test help in calculating other pulmonary functions as well. Thus, body plethysmographs are expected to witness a higher CAGR during the forecast period.

“Amongst end user, hospitals held a significant share of the market in 2022”

Based on end use, the market is segmented into hospitals, clinics, and others. The hospitals held a significant share of the market in 2022. Hospitals serve as primary healthcare institutions where patients receive diagnosis, treatment, and ongoing care. They play a pivotal role in patient management by providing state-of-the-art medical facilities, specialized expertise, and a multidisciplinary approach to patient care. The hospitals offer treatment to many patients, allowing them to capitalize on economies of scale and offer more efficient and cost-effective services. Financial incentives from health insurance companies are also a major factor, as these can reduce the cost of treatment and make it more affordable for patients. For instance, according to the American Hospital Association in 2023, there are in total of 6,129 hospitals in the U.S with 919,649 staffed beds and 34,011,386 hospital admissions in the year 2022.  Hence, hospitals held a significant share of the market in 2022.

 “Amongst regions, APAC is expected to witness a higher CAGR during the forecast period”

APAC is expected to grow with a high CAGR in the global plethysmograph market in the forecast period. Several factors such as a surge in the development of a wide range of therapeutics for several lung ailments, enhanced accessibility, and diversified healthcare costs are driving the market’s growth during the forecast period. Further, the increase in incidences of respiratory disorders is also having a positive impact on the market’s growth. There have been significant improvisations and enhancements in plethysmographs in the region. For instance, Goodyear India has extended support to three medical facilities in Aurangabad including the Seth Nandlal Dhoot Hospital, United CIIGMA Hospital, and the Government Medical Hospital as part of their annual Corporate Social Responsibility (CSR) initiative. At the Government Medical College and Hospital (GMCH), Aurangabad, Goodyear India has donated a Body Plethysmograph machine which is used for treating patients with severe lung infections. Thus, APAC is expected to witness a higher CAGR during the forecast period.

Plethysmograph Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global plethysmograph market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Plethysmograph Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global plethysmograph market were the three major steps undertaken to create and analyze the adoption of plethysmographs in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global plethysmograph market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the plethysmograph market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the plethysmograph market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, end user, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the plethysmograph market. Further, we conducted factor analysis using dependent and independent variables such as product type, end user, and regions of plethysmographs. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the plethysmograph market sector across the globe.

 Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global plethysmograph market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 00for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the plethysmograph market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global plethysmograph market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global plethysmograph market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, end user, and regions in the global plethysmograph market.

The main objective of the Global Plethysmograph Market Study

The current & future market trends of the global plethysmograph market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the plethysmograph market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of product type, end user, and regions
• Define and analyze the regulatory framework for the plethysmograph industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the plethysmograph market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the plethysmograph market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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