September 17, 2019 by Amanpreet
The peak flow meter market shows a high level of consolidation, as ~ 60% of the market share is contributed by the top players. Some of the key players in the peak flow meter market include DeVilbiss Healthcare LLC, Koninklijke Philips N.V., Vitalograph Ltd., ResMed Inc., Haag-Streit group, Medline Industries Inc. among others. These players are critically important in advancing innovative products to consumers.
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The top companies manufacturing peak flow meters focus on marketing their products through the use of advertisements on social media, which helps them to spread awareness regarding the new respiratory devices. Various awareness programs have been introduced for the people, which promotes healthcare awareness, regarding commonly occurring respiratory diseases, among the people. Koninklijke Philips N.V is one of the top players in the peak flow meter market. It is maintaining the costs including supply chain efficiencies from a mixture of site closures, consolidating their manufacturing supplier base and simplifying their global distribution & logistics network. The company is also further stepping up their focus on procurement through a new global organization.
ResMed Inc. is another key player in the peak flow meter market and is focusing on geographical expansion. The company has acquired Curative Medical in order to expand its regional presence in China. Moreover, the company focuses on strategic acquisitions in order to strengthen its product portfolio. Teleflex Incorporated holds a significant share in the peak flow meter market and is currently trying to optimize its product pricing. Drive DeVilbiss Healthcare LLC focuses on growth through aggressive investment plans. The company has decided to refinance the company’s existing credit facilities, which can positively impact the peak flow meter market. Omron Corporation is expected to hold approximately 6% of the market share and is actively expanding its healthcare business. The company is focused on improving its product portfolio with applications based on novel, integrated technologies, artificial intelligence and more.
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Technological advancement such as better monitor adherence has led to the increasing demand of digital peak flow meters, instead of mechanical peak flow meters. Digital peak flow meters are easier to read and can also provide more accurate results, hence, a greater proportion of the population are using digital peak flow meters. However, one of the drawbacks of the digital flow meter can be the high price of the device as compared to mechanical peak flow meter. The technology, used by these digital peak flow meters can be expensive.
Availability of smart peak flow devices in the market, can provide an opportunity for the significant growth of peak flow meter devices market. A smart peak flow device is a device, which can be kept in the pockets and can be easily used anywhere. The smart peak flow devices can be connected to mobile phones and can be operated easily because of its size, simplicity and technology.
The demand of the pocket peak flow meters are likely to experience a steady increase over the forecast period, which can accelerate the growth of the peak flow meter market. The reason behind increasing demand of digital peak flow meter can be the measurement of both – peak expiratory flow rate and forced expiratory volume as well.
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