Spirometer Market Top Players and Business Intelligence

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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Spirometer Market – Business Growth Opportunities | Global Forecast 2023

The report studies the market on the basis of product type, mechanism, application, end user, and region. Market growth is largely driven by the rising global incidence of respiratory diseases, global population, and technological advancements in spirometer devices.

According to research report the global Spirometer Market is expected to reach USD 1,047 million by 2023 from USD 655 million in 2018, at a CAGR of 9.8%.

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The spirometry equipment market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Asia is expected to register the highest CAGR in the market during the forecast period. The high growth in this region can primarily be attributed to the rising geriatric population, high burden of respiratory diseases such as COPD and asthma, growing per capita income, increasing investments in the healthcare industry by key market players, rising demand for cutting-edge technologies, expansion of private-sector hospitals to rural areas in various APAC countries, and the presence of high-growth markets such as Japan, China, India, South Korea, Taiwan, Australia, and Singapore.

By product type, the spirometry equipment market is segmented into consumables & accessories, devices, and software. The consumables & accessories segment accounted for the largest share in 2018. The rising incidence of respiratory diseases and the growing geriatric population are the key factors driving the growth of this product segment.

By end user, the spirometry equipment market is segmented into hospitals, clinical laboratories, home care settings, and industrial settings. Hospitals accounted for the largest share of the spirometry equipment market in 2018 while the home care settings segment is expected to register the highest growth during the forecast period. The growing requirement for personalized lung monitoring is a key factor driving the growth of the spirometry equipment market for home care settings.

Based on application, the spirometry equipment market is segmented into COPD, asthma, and other applications. Among these, the COPD segment accounted for the largest share of the spirometry equipment market in 2018. The large share of this segment is mainly due to the high and growing prevalence of COPD globally and the easy diagnosis of COPD offered by spirometry.

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Key players in this market can explore the possibilities of expanding to the emerging economies of India and Brazil. These countries are going through a phase of rapid industrialization, leading to increasing pollution levels. This has created a need for monitoring lung conditions regularly, which increases the demand for spirometers.

Spirometer Market – Know the Business Growth Opportunities

According to research report the global Spirometer Market is expected to reach USD 1,047 million by 2023 from USD 655 million in 2018, at a CAGR of 9.8%.

The report studies the market on the basis of product type, mechanism, application, end user, and region. Market growth is largely driven by the rising global incidence of respiratory diseases, global population, and technological advancements in spirometer devices.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=18015659

By product type, the spirometry equipment market is segmented into consumables & accessories, devices, and software. The consumables & accessories segment accounted for the largest share in 2018. The rising incidence of respiratory diseases and the growing geriatric population are the key factors driving the growth of this product segment.

Based on application, the spirometry equipment market is segmented into COPD, asthma, and other applications. Among these, the COPD segment accounted for the largest share of the spirometry equipment market in 2018. The large share of this segment is mainly due to the high and growing prevalence of COPD globally and the easy diagnosis of COPD offered by spirometry.

By end user, the spirometry equipment market is segmented into hospitals, clinical laboratories, home care settings, and industrial settings. Hospitals accounted for the largest share of the spirometry equipment market in 2018 while the home care settings segment is expected to register the highest growth during the forecast period. The growing requirement for personalized lung monitoring is a key factor driving the growth of the spirometry equipment market for home care settings.

The spirometry equipment market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Asia is expected to register the highest CAGR in the market during the forecast period. The high growth in this region can primarily be attributed to the rising geriatric population, high burden of respiratory diseases such as COPD and asthma, growing per capita income, increasing investments in the healthcare industry by key market players, rising demand for cutting-edge technologies, expansion of private-sector hospitals to rural areas in various APAC countries, and the presence of high-growth markets such as Japan, China, India, South Korea, Taiwan, Australia, and Singapore.

Get Report Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=18015659

Key players in this market can explore the possibilities of expanding to the emerging economies of India and Brazil. These countries are going through a phase of rapid industrialization, leading to increasing pollution levels. This has created a need for monitoring lung conditions regularly, which increases the demand for spirometers.