Global Spirometry Market Share Research Report, by Product (Table-top Spirometry, Hand-held Spirometry, Desktop Spirometry), by Technology (PFM, Volume Measurement Spirometry, Flow Measurement Spirometry), by Application (Diagnostic, Treatment Monitoring), by End-user (Hospitals & Clinics, Home Care, Diagnostic Centers, Research & Academic Institutes), and Region - Forecast to 2023
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Overview:
The global Spirometry market is
witnessing a significant rise in its revenues, mainly due to the rising
occurrences of respiratory diseases such as asthma and COPD. Besides, the
growing rate of diagnosis processes conducted for the detection of interstitial
pulmonary fibrosis fosters the growth of the market. Moreover, the increasing
exposure to risk factors and the ever-increasing population is driving a large
share of the market.
Market
Insights
According to the reports
published by Market Research Future Reports, the global Spirometry Market
size is probable to exhibit a 10.03% CAGR from 2018 to 2023 and is also on
the verge to reach USD 1,106.76 million by 2023. Such a humongous market growth
can be attributed to the strident rise in the cases of chronic obstructive
pulmonary disorders (COPD) and asthma.
Spirometry is considered as a
basic test, which is conducted by clinicians to estimate the status of lungs.
It is an essential test for diagnosing asthma, COPD, and other breathing
disorders. Thus, spirometers are used to carry out the tests.
Global
Spirometry Market: Drivers & Trends
The factors such as emerging
chronic respiratory diseases globally, increasing global aging population, and
technological shifts in spirometer devices toward smartphone-based data
connectivity and analysis are expected to drive the global spirometry market
exponentially during the forecast period. With that, emerging economies with
growing industrialization are also contributing to driving the market with
opportunities for the future in substantial ways.
More stimulating factors such as
government initiatives to restrain smoking habits of people, focus on breathing
diseases, rising levels of air pollution, and expanding awareness towards the
adoption of spirometers at homes are noticeably auguring the global spirometry
market growth. Even awareness of reimbursement policies among the public and
clinicians are also projecting to be the drivers for patients towards taking
these tests. On the flip side, the high costs of spirometers may act as a
restrictive factor against the market and hinder the global spirometry market
growth.
Furthermore, the rising geriatric
population is also anticipating being the factors for the increase in the
demand for spirometers to analyze respiratory patterns. The need for
spirometers is also probable in the rise due to a high number of surgeries in hospitals
and clinics. These factors are tremendously driving the global spirometry
market to rise high at a higher CAGR in the years to come.
Segmental
Overview
According to the reports
published by MRFR, the global spirometry market has been segmented by product,
technology, application, and end-user.
By the mode of products, the
market includes table-top spirometry, hand-held spirometry, and desktop (PC)
spirometry.
By the mode of technology, the
market has been segmented into volume measurement spirometry, peak flow meters
(PFM), and flow measurement spirometry.
By the mode of application, the
spirometry market is segmented into diagnostic and treatment monitoring.
Moreover, by the mode of
end-users, the market includes research & academic institutes, diagnostic
centers, hospitals & clinics, and home care.
Regional
Outlook
Geographically, the market of
spirometry has covered some main regions such as Americas, Europe, Asia Pacific
(APAC), and the Middle East & Africa (MEA).
Among these, Asia Pacific is expected
to register the highest CAGR for the market to proliferate during the forecast
period. Growth of this market in the Asia Pacific region is driven mainly by
the large population of the patient and a high prevalence of chronic
respiratory diseases.
While North America has the
largest market for spirometers owing to technological advancements, government
regulations, rise in incidences of respiratory diseases, increasing healthcare
expenditure, and improved healthcare infrastructure.
Key
Players
In the end, here are the
prominent players in the spirometry market, they are Carefusion Corporation
(U.S.), NDD Medical Technologies, Inc. (U.S.), Nihon Kohden Corporation
(Germany), MGC Diagnostics Corporation (U.S.), Vitalograph (U.K.), Schiller AG
(Switzerland), COSMED srl (Italy), Hill-Rom Holdings, Inc. (U.S.), Midmark
Corporation (U.S.), Smiths Medical Inc. (U.S.), and Koninklijke Philips N.V.
(The Netherlands).
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verticals and wherever required we will be considering covid19 footprints for a
better analysis of markets and industries. Cordially get in touch for more
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