Industry Analysis Reports | Health Care | Medical Devices

Tuesday, 20 October 2020

Demand of Diabetes Monitor Market Size, Trends and Forecast till 2027

Diabetes Monitor Market Overview:

The global market report on the diabetes monitor market has been studied on the basis of several factors and connections with the end users. The market is projected to reach USD 17458.1 million by 2023 and during the forecast period of 2018 to 2023, it will reach a CAGR of 8.3%. Market Research Future (MRFR) discussed factors like the rising diabetes cases, changing lifestyles due to the rapid urbanization, the inclusion of top-class technologies, and others. Obesity is also expected to trigger better growth for the global market.

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Diabetes Monitor Market Segmentation:

MRFR experts have studied the global market report on diabetes monitors with proper emphasis on segments like type, sample, component, and end-users. The report contains data backed by charts, graphs, and volume and valuation figures among other influencers, which can help in devising better strategies in the coming days.

By sample, the report on the global diabetes monitors market has been segmented into sweat samples, blood samples, urine samples, and others. The blood sample segment gets ample traction from the market. It covers 75.70% of the total market share and can proceed further at an 8.6% CAGR during the forecast period.

By type, the discussion of the market includes continuous glucose monitors, point sample test based glucose monitors, and enzyme-free sensor-based glucose monitors. The continuous glucose monitors segment encompasses disposable sensor-based CGM, and re-usable sensor based CGM.

By components, the report on the global diabetes monitor market includes glucose test strips, lancet, and sensors. The sensors cover segments like enzyme-based sensors, and enzyme-free sensors.

By end -users, the report on the global market has been segmented into hospitals, diagnostic clinics, and home. The home segment is getting backed by rising disposable income and development in devices.

Diabetes Monitor Market Regional Analysis:

The Americas has the largest market share and is slated to grow and surpass a valuation of USD 6623.4 million by 2023. Asia Pacific would be the fastest-growing region and it would achieve a CAGR of 8.9% during the forecast period. Europe would garner substantial valuation during the forecast period.

Diabetes Monitor Market Competitive Landscape:

Dexcom, Inc., Sanofi, Panasonic, Abbott Laboratories, Medtronic, LifeScan, Inc., F. Hoffmann-La Roche Ltd, and others are some of the major companies delving deep into the global diabetes monitor market by using their strategies. These companies bank on methods like tie-ups, innovations, product launches, mergers, branding, acquisitions, research and development, and others. MRFR’s attempt to record all the latest moves is expected to facilitate understanding global market growth and trends.

Industry News:

In June 2020, DarioHealth Corp., a company from New York is a device that monitors glucose levels in the blood, announced that the company had developed two new papers on how people have benefited from their digital device and it also mentioned the improvement level of blood sugar level and blood pressure. The device was developed in Israel and it provides regular updates to its users and helps them manage their glucose level on the go.

In June 2020, Nemaura Medical Inc announced that it has applied for a Premarket Approval (PMA) from the US Food and Drug Administration for its new product sugarBEAT continuous glucose monitor. These will be a proper supplement for the finger pricking testing pattern.

The COVID-19 crisis is expected to play a crucial role in taking the global market ahead. This is due to the deep connection between disease and diabetes. Patients with high-diabetes are susceptible to these diseases and their chances of recovery are less than normal patients.

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You Can See more Reports In Medical Devices Industry:

Laser Therapy Market: Research Report, By Type (Diode Lasers, Solid State Lasers, Gas Lasers, Dye Lasers, and others), By Application (Dermatology and Aesthetics, Surgery, Dental, Urology, Ophthalmology, and others) - Global Forecast from 2017 to 2023

Immunoassay Analyzers Market: Research Report By Instruments (Immunofluorescence, Chemiluminescence, ELISA, Radioimmunoassay), Application (Infectious Diseases, Autoimmune Diseases, AIDS), End Users (Hospitals)- Global Forecast till 2023

Global Cosmetic Surgery Market: Size, Share and Growth Analysis; by Surgery Type (Liposuction, Eyelid and Nose Surgery, Body Contouring (Tummy Tuck, Breast Lift, Others), Facial Reconstruction, Cosmetic Implants (Breast Augmentation, buttock Implants, Chin & Cheek Implants) and others) - Forecast to 2023

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

Size of Retinal implant Market 2020-2027 | Share, Trends, Demand, Report

Retinal implants have proven its mettle as a breakthrough therapy in the treatment of visual impairment. The global retinal implants market is perceived to be growing at a recurring rate and is expected to reach high revenue figures in the coming years, as per the analysis of Market Research Future (MRFR). The global retinal implant market has been flourishing on account of the widespread prevalence of eye disorders across the globe. Growing cases of retinal disorders have induced high demand for retinal implants since they aid in the restoration of vision. Retinal implants have demonstrated significance for application in eye disorders which were once far-off impossible to achieve. The fact that these devices can be implanted with minimally invasive procedures has added to its popularity and driven the market. The rise in geriatric population is a crucial factor driving the growth of the retinal implant market. Owing to various health insufficiencies, the aging population is more susceptible to acquiring visual impairment and require Retinal implant Market.

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Substantial investment in R&D activities by various medical device manufacturers and governments have led to the development of advanced retinal implants which can be successfully implanted in patients. Extensive clinical trial activities have also contributed to the growth of the market. Few retinal implants have already cleared clinical trials, and many more are underway which is expected to spur the market in the future. In addition, the rise in a number of FDA approvals has been a plus for the growth of the global retinal implants market.

A large number of retinal implants are due for approval and patent from various regulatory authorities, the market stores opportunities for expansion. Also, expected expansion in reimbursement coverage for retinal implants is also expected to augment the market in the coming years. Other driving factors include the rise in the prevalence of degenerative diseases and raising awareness regarding the availability of the device which raises adoption. However, lack of skilled medical professionals with adequate knowledge of performing surgery and stringent and complex FDA approval process remains a significant hurdle for the growth of the global retinal implants market. High costs associated with retinal implants, the risk of biocompatibility and unknown long-term efficacy of the product are also expected to hinder adoption.

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Regional Analysis

North America, Europe, Asia Pacific, and the Rest of the World are the key markets for retinal implants. North America accounts for a substantial share of the global market. Higher availability of the product, improving reimbursement scenario and higher affordability in the region supports the growth of the North America market for retinal implants. Presence of highly skilled surgeons to perform immensely complex surgical procedure also accelerates adoption in the region.

In Europe, the market is driven by an increase in R&D activities and the expansion of clinical trials.

Presence of developing countries such as India, China, and Japan, who outlay massive amounts on healthcare expenditure, coupled with growing disposable income and affordability supports the growth of the market in Asia Pacific.

Rest of the World market is expected to fare well in the coming years since various market players are foraying into the untapped regions to leverage the potential they offer for market expansion.

Segmentation

The global retinal implants market has been segmented into device type, disease indication, and end user. By device type, the market has been segmented into retina implant alpha AMS, Argus II, implantable miniature telescope, and others. By disease indication, the market has been segmented into age-related macular degeneration (AMD) and retinitis pigmentosa. By end user, the market has been segmented into multi-specialty hospitals, ophthalmic clinics, and research institutes.

Competitive Landscape

Second Sight Medical Products, Inc.; Retina Implant AG, VisionCare, Inc., Bionic Vision Australia (BVA), Bionic Eye Technologies, Inc., and Visus Technology, Inc. are the key players operating in the global retinal implants market.

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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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New Report on Covid19 Impact on Veterinary pain management Market Size 2019: Top Companies Analysis, Trends, Demand

Veterinary Pain Management Market-Competitive Outlook

Ceva Santé Animale, Elanco, Vetoquinol, Bayer, Assisi Animal Health, Zoetis, Merck Animal Health, Norbrook Laboratories, Boehringer Ingelheim, Dechra Pharmaceuticals, and Chanelle are major players of the global veterinary pain management market.

Veterinary care is instrumental in alleviating the pain levels of companion and farm animals while tending to their injuries. Various drugs and treatments are administered to animals after considering the aftereffects as well as numerous risks. The global veterinary pain management market report by Market Research Future (MRFR) has compiled with a list of drivers, challenges, and opportunities being described in detail for comprehension of users.

Market Highlights:
Veterinary Pain Management Market Trends is growing rapidly and pervasively mainly due to the spreading awareness towards animal care. People are generally compassionate towards their pets, and they are increasingly becoming aware of animal physiology and psychology and the pain they go through during sickness, injuries, recoveries and after effects of the diseases. Besides, factors such as the increasing number of pet owners and the strengthening bond between owners and their animal companions escalate the market on the global heights.

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Acknowledging the rapid expansions, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global veterinary pain management market will reach significant growth heights by 2023 registering 8.2% CAGR during the review period (2018 – 2023).

Additional factors substantiating the market growth include the rising per capita income that is leading to increasing the pet adoptions and the trend of nuclear families. Increased awareness concerning animal cruelty is influencing people’s ideologies and knowledge about animals.

Moreover, developments in animal health medicines and vaccines, along with the increased medical treatments are fostering the market growth of veterinary pain management market. Increased R&D expenditure to bring innovations in the products, and development of better and effective veterinary pharmaceuticals and vaccines, etc. are contributing to the market growth.

Improving economic conditions worldwide foster market growth, enabling access to the quality of life, increasing consumers’ buying power, and availing cost-effective veterinary healthcare.

On the other hand, factors such as the lack of awareness and knowledge pertaining to the animal well-being and the rising cost of pet care, etc. are expected to impede the market growth. Also, unavailability of skilled doctors is a major restraint the market is confronting with. Nevertheless, technological advancement, increasing number of ambulatory services coupled with the government and public organizations initiatives like PETA, working towards animal rights and liberation are expected to support market growth.

Veterinary Pain Management Market - Segmentations
MRFR has segmented the analysis into seven key dynamics for better understanding: -

By Drug Type: Nonsteroidal Anti-Inflammatory Drugs, Opioids, Local Anesthetics, Α2-Adrenergic Agonists, Muscle Relaxants, Sedatives, and Corticosteroids among others.

By Devices: Laser Therapy Devices and Electromagnetic Therapy Devices among others.

By Route of Administration: Oral, Parenteral, and Topical among others.

By Animal Type: Companion Animals, Livestock, Research Animals, Aquatic Animals, Zoo Animals, and Exotic Animals among others.

By Application: Joint Pain, Postoperative Pain, and Cancer among others.

By End-user: Veterinary Hospitals & Clinics, Research Institutes & Universities, and Laboratories among others.

By Regions: Europe, North America, APAC and the Rest-of-the-World. Regional Analysis

North America, Asia Pacific, Europe, and Rest-of-the-World (RoW) are the regions being considered for the basis of the report.

North America is estimated to hold the majority of the global veterinary pain management market due to rise in the adoption rate of pets in the U.S. and Canada. According to the survey by National Pet Owners, close to 68% of families owned household pets in the U.S. as of 2017. Other major drivers pushing the market expansion in the region include awareness of animal health, technically advanced devices, and preventive treatment facilities for companion animals. Investments in pet coverage schemes can bode well for the global veterinary pain management market in the forthcoming years.

Europe is the second biggest region for the market due to availability of advanced healthcare units and pet treatment clinics. Grading systems developing for assessing pain levels and doling out right advice are expected to drive regional market growth.

Industry/ Innovation/ Related News:

November 08, 2018 – Vetoquinol USA, a world-class developer of veterinarian-approved formulas for large animal healthcare products, announced the launch of its rebranded product line - EQUISTRO®. The rebranding includes new packaging for products and others. All EQUISTRO products are now available in veterinary clinics and in retail stores that sell feed, farm supplies, horse tack, and equine products. The rebranding strategy helps to expand the products available for performance horses through Vetoquinol.

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Ligation Devices Industry Trends, Opportunities and Forecasts to 2023

Global Ligation Devices Market Report: By Product (Handheld Instruments, Accessories), Procedure (Minimally Invasive Surgery, Open Surgery), and Application (Gastrointestinal and Abdominal, Gynecological, Urological Applications)—Global Forecast till 2024

Ligation Devices Market Highlights

As per Market Research Future (MRFR) analysis, the global ligation devices market is estimated to register a CAGR of 6.7% from 2019 to 2024 (forecast period).

Ligation devices are used for closing incisions during surgeries or for connecting separate organ/tissue parts. The number of surgeries and laparoscopic procedures has increased in the last few years. According to the 2017 National Health Statistics Reports published by the Centers for Disease Control and Prevention, 48.3 million surgical/non-surgical procedures were performed in the United States in 2010. It is reported that surgeries are often reimbursed, thereby facilitating a wider pool of patients for producers.

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Ligation Devices Market Dynamics

Favorable reimbursement policies, rising health expenditures, and increasing research and development expenditure are expected to boost the market. As per the GI Endoscopy Coding and Reimbursement Guide published by Cook in 2017, procedures such as endoscopic retrograde cholangiopancreatography (ERCP) are covered by CPT code 43261 with an average facility payment of approximately USD 1.134.02.

However, it is projected that factors such as the high cost of surgery and related side effects would hinder the market growth.

Ligation Devices Market Segmentation

The global market for ligation devices has been segmented based on the product, procedure, application, end-user, and region.

Based on product, the global market for ligation devices has been segmented into handheld instruments and accessories.

Based on the procedure, the global market for ligation devices has been segmented into minimally invasive surgery and open surgery.

Based on application, the global market for ligation devices has been segmented into gastrointestinal and abdominal applications, cardiovascular applications, gynecological applications, urological applications, and others.

Based on the end-user, the global market for ligation devices has been segmented into hospitals & clinics, ambulatory surgical center, and others.

Ligation Devices Market Regional Analysis

Regionally, the global ligation devices market analysis has been segmented into the Americas, Asia Pacific, Europe, the Middle East & Africa.

The Americas held the largest market share for ligation devices due to rising health expenditure and the growing prevalence of chronic diseases. As reported by the Centers for Disease Control and Prevention in 2018, coronary heart disease (CHD) has been estimated to be the most common type of heart disease in the U.S. and is expected to cause 370,000 heart disease per year.

Europe held the second position in the global market for ligation devices in 2018. It can be due to growing awareness, government funding, the production of technologically advanced medical devices, and the rising number of surgeries. However, stringent regulation is expected to hinder the growth of the global market for ligation devices over the forecast period.

The Asia Pacific was the fastest-growing region on the global market for ligation devices in 2018. Asia Pacific has an enormous market potential for the market for ligation devices. Factors such as increasing healthcare infrastructure, developing healthcare industries, increasing number of surgeries, and rising medical tourism are driving market growth in the region. Monash University stated that the bariatric surgery burden in Australia was burgeoning in 2015, and roughly 15,000 surgical procedures were carried out in the region in the same year. Moreover, the emergence of developing economies such as India and China are boosting the market.

The Middle East and Africa have had the least market share in the global market for ligation devices. Factors such as the existence of poor economies and low per capita income, particularly in the African region, make the market lag within the region. It is projected that the Middle East holds most of the regional market due to increased government funding in the healthcare sector and the presence of developed economies such as the United Arab Emirates, Saudi Arabia, and others.

Ligation Devices Market Key Players

Some of the significant participants in the global ligation devices market are Medtronic, Johnson & Johnson, Conmed Corporation, Teleflex Incorporated, B. Braun Melsungen AG, Olympus Corporation, Applied Medical Resources Corporation, The Cooper Companies, Inc., Grena Think Medical, Genicon, Inc., and others.

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Analysis of Neurovascular Devices Market Size, Share and Report

Neurovascular devices are increasingly being used in for treating and management of neurovascular disorders such as arteriovenous malformations (AVMs) and brain aneurysm. As the global burden of neurovascular disorders continue to rise, the demand for their treatments gains further traction. Neurovascular disease are complex in nature and hence preference for minimally invasive procedures is higher. This, in turn, is driving the sales of neurovascular devices across the globe. Market Research Future (FRMR) is its latest report asserts that the global market for neurovascular devices will grow at a healthy rate over the next couple of years.

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Incessant product innovation, increased product marketing and favourable reimbursement policies are driving the global market for neurovascular devices. Other factors that are reflecting favourably on the market include expansion of the geriatric population, and advances in medical technology in the field of interventional neurology. Moreover, neurovascular devices are also used in treating patients suffering for ischemic stroke or haemorrhagic. It has been observed that neurovascular device assisted interventional procedures are replacing the traditional neurosurgeries. Owing the low risk of damaging surrounding tissues and minimal surgical trauma, interventional procedure are more favoured as compared to neurosurgery. At the same time, chances of infection is significantly when neurovascular device based treatment. On the other hand, inadequate number of hilly skilled neurologist, particularly in developing countries expected to have a negative impact on the growth of the market. High cost of neurovascular devices continue to limit their user base despite their increased efficiency.

Latest Industry Highlights:

· Perflow Medical, a renowned medical devices manufacturing company based in Israel, which is primarily engaged in developing novel solution for neurovascular interventions. Has recently announced that the company successfully approved a $12 Mn funding from its investors. Reportedly, the funding syndicate in included two new international investors with the existing stakeholders.

· Junkosha a US-based company has recently introduced a unique peelable heat shrink. The technology will reportedly enable access to intricate parts of the vascular system with minimal risk of damage to the surroundings.

Global Market for Neurovascular Devices – Segmental Analysis

MRFR in its report has offer comprehensive segmental analysis of the market based on therapeutic application, end-user and product. By therapeutic application, the market is bifurcated into ischemic strokes and hemorrhagic stroke. Based on end user, the market is segment into ambulatory surgical units and hospitals & clinics. By product type, the market is segmented into stenting systems, neurothrombectomy devices, cerebral balloon angioplasty, aneurysm coiling & embolization devices and support device.

Regional Overview

The Americas is expected to hold the dominant position in the global neurovascular devices market. This is primarily attributed to the rising incidences of neurovascular disorders such as arteriovenous malformations (AVMs) and brain aneurysm across North and South America. In addition, presence of major players and rising healthcare spending among Americans is propelling the market in the region. Improved reimbursement scenario and rapid adoption of neurovascular devices in neurological centers across the region is also proving an impetus to the market. Asia Pacific and Europe are two other regions anticipated to present significant growth opportunities for market during the forecast period.

Global Market for Neurovascular Devices – Competitive Analysis

Leading companies operating in the global market for neurovascular devices include Medtronic, TERUMO CORPORATION, Merit Medical Systems, Inc., Penumbra, Inc., Evasc, Neuravi, Sensome, Delaware Corporation, Gynesonics, Stryker, Johnson & Johnson Services, Inc., Abbott, Medikit co., ltd., MicroPort Scientific Corporation, Rapid Medical, W. L. Gore & Associates, Inc., Blockade Medical, LLC., OxfordEndovascular, and Secant Group, LLC. A majority of these market participants are actively focusing on expanding market presence by engaging in merger & acquisition and reaching offshore distribution agreements with third party vendors.

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Monday, 19 October 2020

Diagnostic Electrocardiograph Market-Trends 2020, Demand, Analysis and Forecast till 2025

Diagnostic Electrocardiograph Market Analysis

The global diagnostic electrocardiograph market is likely to touch USD 10,487.24 million at a 6.72% CAGR between 2019- 2025, as per the recent report by Market Research Future (MRFR). Diagnostic electrocardiograph, simply put, is a test that is utilized to detect electrical signals which the heart produces each time it beats. Smart ECG monitors, Holter monitors, event monitors, mobile cardiac telemetry devices, implantable loop recorders, stress ECG devices, and resting ECG devices are the different types of the diagnostic electrocardiograph.

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Various factors are adding to the global diagnostic electrocardiograph market growth. Such factors, according to the new MRFR report, include increasing expenditure by market players in research and development to create novel ECG devices, technological advances in wearable devices and wireless monitoring, and an increase in the rate of lifestyle diseases. Additional factors adding market growth include the developing healthcare infrastructure, increasing geriatric population, and rising cases of cardiovascular diseases.

On the contrary, irregular reimbursement policies, uncertainty in economic circumstances and market saturation, and scarcity of skilled professionals are factors that may limit the diagnostic electrocardiograph market growth over the forecast period

Diagnostic Electrocardiograph Market Segmentation

The MRFR report offers an inclusive segmental analysis of the global diagnostic electrocardiograph market report based on end user, product type, and lead type.

By product type, the diagnostic electrocardiograph market is segmented into smart ECG monitors, Holter monitors, event monitors, mobile cardiac telemetry devices, implantable loop recorders, stress ECG devices, and resting ECG devices. Of these, the resting ECG devices segment will lead the market over the forecast period for its increasing use in hospitals worldwide.

By lead type, the diagnostic electrocardiograph market is segmented into single-lead ECG devices, 6-lead ECG devices, 3-lead ECG devices, 5-lead ECG devices, and 12-lead ECG devices. Of these, the 3-lead ECG devices segment will dominate the market over the forecast period for its wide applications in various cardiac diagnostic tests.

By end user, the diagnostic electrocardiograph market is ambulatory surgical centers, hospitals and clinics, and others. Of these, the ambulatory surgical centers segment will have a major share in the market over the forecast period for its ample recognition in developing countries.

Diagnostic Electrocardiograph Market Regional Analysis

Based on the region, the global diagnostic electrocardiograph market report covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will have lions share in the market over the forecast period. Surging demand for medical devices coupled with rising cases of cardiovascular diseases like arrhythmia and stroke, are adding to the growth of the market in the region.

The global diagnostic electrocardiograph market in Europe is predicted to hold the second-largest share over the forecast period. Rising acceptance of new diagnostic products and increasing geriatric population are adding to the growth of the market in the region.

The global diagnostic electrocardiograph market in the APAC region is predicted to grow at a fast pace over the forecast period. Rising prevalence of heart diseases like stroke and increasing per capita disposable income are the factors that are adding to the market growth in the region.

The global diagnostic electrocardiograph market in the MEA is predicted to have steady growth over the forecast period. The increasing burden of cardiac diseases and gradually developing healthcare infrastructure are factors that are adding to the market growth in the region.

Diagnostic Electrocardiograph Market Studied by Top Key Players

Eminent players profiled in the global diagnostic electrocardiograph market report include VectraCor, Inc. (US), Innomed Medical Inc. (Hungary), Norav Medical (US), Cardioline SpA (Italy), Edan Instruments, Inc. (China), BTL (US), Fukuda Denshi (Japan), BPL Medical Technologies (India), ACS Diagnostics (US), Schiller (Switzerland), Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China), Hillrom Services, Inc. (US), Nihon Kohden Corporation (Japan), Koninklijke Philips N.V. (Netherlands), and General Electric Company (US).

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Table Of Contents

REPORT PROLOGUE
MARKET INTRODUCTION

2.1. Definition

2.2. Scope Of The Study

2.2.1. Research Objective

2.2.2. Assumptions

2.2.3. Limitations

RESEARCH METHODOLOGY

3.1. Overview

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

MARKET DYNAMICS

4.1. Overview

4.2. Drivers

4.3. Restraints

4.4. Opportunities

MARKET FACTOR ANALYSIS

5.1. Porter’s Five Forces Analysis

5.1.1. Bargaining Power Of Suppliers

5.1.2. Bargaining Power Of Buyers

5.1.3. Threat Of New Entrants

5.1.4. Threat Of Substitutes

5.1.5. Intensity Of Rivalry

5.2. Value Chain Analysis

…..

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Spirometry Market 2020 , Updates, Latest Research, News, Growth Factors and Forecast

The global Spirometry market is growing rapidly. The market growth attributes to the rising occurrences of respiratory diseases such as asthma and COPD worldwide. Besides, increasing numbers of diagnosis procedures conducted for the detection of interstitial pulmonary fibrosis foster the growth of the market. Moreover, the recent COVID 19 outbreak is projected to escalate the growth of the market exponentially.

Coronavirus has presented considerable challenges to global health services, disturbing almost every aspect of medical practice and policy. Subsequently, there occurs a surge in acute caseload with immediate implications for routine diagnostic and surveillance investigations. These implications have increased numbers of lung function testing (LFT), particularly spirometry, which is performed widely and in a variety of settings. As a result, market revenues are increasing significantly.

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According to Market Research Future (MRFR), the valuation of global Spirometry market is expected to reach USD 1,106.76 MN by 2023, growing continually at 10.03% CAGR during the assessment period (2018-2023). Increasing exposure to risk factors among the ever-increasing population is a significant growth driver. Similarly, increasing healthcare expenditures and technological advances in respiratory care devices drive a large share of the market.

In addition to the growing exposure to risk factors such as smoking, pollutants such as chemicals, fumes, and dust, the increasing prevalence of respiratory diseases fosters the growth of the market. Conversely, huge costs associated with tests that require different spirometers and reimbursement limitations are the major factors predicted to obstruct the growth of the market.

Nevertheless, growing government initiatives and funding support to spread awareness and to drive the required R&D to improve diagnostics techniques and devices would support the growth of the market throughout the estimated period.

Global Spirometry Market – Segmentations

The report is segmented into five dynamics;

By Product : Hand-held Spirometry, Table-top Spirometry, Desktop (PC) Spirometry, and others.

By Technology : Volume Measurement Spirometry, Flow Measurement Spirometry (Pneumotachograph System and Mass Flow Meter), Peak Flow Meter (PFM), and others.

By Application : Treatment Monitoring, Diagnostic (Asthma, COPD, Interstitial Pulmonary Fibrosis, others), and others.

By End-user : Research & Academic Institutes, Hospitals & Clinics, Home Care, Diagnostic Centers, and others.

By Regions : Europe, Americas, Asia-Pacific, and Rest-of-the-World.

Spirometry Market – Geographical Analysis

North America dominates the global Spirometry market. The largest market share attributes to the growing prevalence of respiratory diseases such as asthma, COPD, interstitial pulmonary fibrosis, and others. Besides, factors such as the large technological advances and rising adoption of Spirometry devices in the region to improve diagnosis processes drive the growth of the market. Also, the availability of state-of-the-art facilities & infrastructure in the region foster market demand.

Additionally, the growing awareness, alongside the presence of notable industry players, boosts the regional market growth. Furthermore, high healthcare expenditures and expanding rebates on diagnostics push the regional market growth. The North American Spirometry market is projected to reach USD 444.99 MN by 2023, growing at 10.25% CAGR during the forecast period.

Europe stands second in the global spirometry market. The market is largely driven by the presence of major medical device companies in Germany and increasing per capita healthcare expenses in the region. Moreover, factors such as the proliferating healthcare industry and developed infrastructure in the region are driving the market growth further. The Europe spirometry market is expected to create a valuation of USD 322.33 MN by 2023, registering a significant CAGR throughout the review period.

The Spirometry market is brisk in the Asia Pacific region. The region demonstrates enormous growth potential. Additionally, factors such as the availability of cost-competitive diagnostic procedures and devices and large unmet clinical needs for respiratory diseases increase the size of the regional market, providing ample opportunities for market growth. The APAC Spirometry market is assessed to reach USD 247.52 MN by 2023, posting 10.64% CAGR during 2018-2023.

Spirometry Market – Competitive Analysis

The Spirometry market appears highly competitive due to the presence of several well-established players. To gain a larger competitive share, industry players initiate strategies such as mergers & acquisitions, collaboration, expansion, and technology launch. Significant investments are transpired in the field to bring innovations in the therapy and clinical trials. There is a shift towards the hospital testing department, which dominates a large market share. As a result, players rely on their collaborations and partnerships with hospitals to increase market penetration. Besides, these players employ numerous distributions channels and engage insurance companies to retain their market position.

Major Players:

Players active in the global Spirometry market include NDD Medical Technologies, Inc. (US), Nihon Kohden Corporation (Germany), Carefusion Corporation (US), Vitalograph (UK), Schiller AG (Switzerland), MGC Diagnostics Corporation (US), Hill-Rom Holdings, Inc. (US), Midmark Corporation (US), COSMED Srl. (Italy), Smiths Medical Inc. (US), and Koninklijke Philips N.V. (Netherlands), among others.

Industry/ Innovation/ Related News:

June 08, 2020 ---- NHS England announced that thousands of patients with cystic fibrosis (CF), alongside the ones recovering from coronavirus, are being given access to devices and apps to enable remote monitoring of their conditions. CF patients are considered to be at extreme risk from the coronavirus. To enable this group of patients to shield at home as much as possible, patients aged six years, and are given a spirometer to measure their lung capacity, and an app to share this information with their doctor.

NHS England further said that home-based spirometry had been hailed as the most critical intervention by the CF National Network for cystic fibrosis patients. The roll-out of these devices has been accelerated to help patients stay safe at home during the pandemic, while also ensuring the right help fast.

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