According to the new market research report Spirometer Market is projected to reach USD 1,285 million by 2025 from USD 799 million in 2020, at a CAGR of 11.1%.
Growth
in this market is largely driven by the rising global incidence of
respiratory diseases, increasing aging population, and the technological
shift in spirometer devices towards smartphone-based data acquisition.
On the other hand, dependence on patient and other human interventions
for data will hinder the growth of this market and will remain a
challenge.
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The
spirometer market isconsolidated in nature. The major players operating
in this market are Hill Rom (US), Vyaire Medical (US), Fukuda Sangyo
(Japan), Chest MI (Japan), Schiller AG (Switzerland), MGC Diagnostics
(US), Medical International Research (Italy), ndd Medical Technologies
(Switzerland), Vitalograph (UK), and Midmark Corporation (US).
Hill-Rom
is the largest player in the spirometer market. The company focuses on
the development of devices, consumables, accessories, and software
required to perform spirometer tests. These products are sold under the
brand Welch Allyn. The company also invests a significant amount on
research and development activities.
Vyaire Medical is a pioneer
in the spirometer market. As a result, it has a strong foothold in the
spirometer devices market. The company was formed by a partnership
between BD and Apax Fund Partners, when BD divested its respiratory care
business. Apax Fund Partners took over the complete holdings of Vyaire
Medical in 2019. Vyaire Medical has a global distribution network and
has a good brand reputation among end users.
Based on product,
the spirometer market is segmented into devices, consumables &
accessories, and software. This segment is expected to witness the
highest growth rate during the forecast period.
Based on
mechanism, the spirometer market is segmented into flow-sensing
spirometer and peak flow meters. The flow- sensing segment accounted for
the highest share in 2019.
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The
global spirometer market is segmented into North America, Europe, the
Asia Pacific, and the Rest of the World (RoW). The North American market
is expected to account for the highest market share in 2019. The large
share of this market segment can be attributed to the increasing
incidence of chronic respiratory diseases and the rising adoption of
technologically advanced devices in the region.
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