The global spirometer market accounted for $1,079.51 million in 2019, and is expected to reach $1,471.59 million by 2027, registering a CAGR of 3.5% from 2020 to 2027. The spirometer device helps in the identification of different respiratory diseases, such as chronic lung disease that is obstructive, emphysema, asthma, and other breathing diseases, for screening in an occupational environment. Therefore, the rising cases of COPD across the globe are thus ultimately increasing the demand for spirometers. In addition, chronic obstructive pulmonary disease (COPD) is one of the leading causes of morbidity and mortality, globally, and there are several studies, which have shown that there is a little awareness of COPD in the general population. However, many individuals with respiratory symptoms are not aware that they need to be diagnosed, which is limiting the use of spirometers, for detecting respiratory devices, which restrict the growth of the market.
Increase in prevalence of respiratory diseases owing to lifestyle habits such as smoking and alcohol consumption along with surge in geriatric population are some of the major factors driving the growth of the market. For instance, in 2017, according to the WHO, respiratory diseases were considered to be the leading causes of death and disability in the world. Nearly 65 million people suffer from chronic obstructive pulmonary disease (COPD), and 3 million are expected to die from it each year, making it the third leading cause of death across the globe.
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Moreover, approximately 334 million people suffer from asthma, the most common chronic disease of childhood, affecting 14% of all children globally. In addition, factors such as ever-increasing air pollution, climatic changes and exposure to dust and fumes are adding up to respiratory illnesses among the populace, which in turn, is driving the adoption of spirometers for diagnosis purpose worldwide. Furthermore, companies are developing technologically advanced spirometers that are portable, small in size along with quicker response and higher accuracy. This is expected to augment the market growth during the forecast period. Moreover, the market is witnessing an emerging trend for intelligent spirometers such as hand-held and table-top, which are helping in providing real-time monitoring. However, lack of awareness regarding respiratory diseases, reimbursement issues and time required for spirometry tests are some of the factors hindering the growth of the market.
The spirometer market is segmented on the basis of type, technology, application, end user, and region. Based on type, the market is segmented into hand-held and tabletop. Based on technology, the market is segmented into volume measurement, and flow measurement. Based on application, the market is segmented into COPD, asthma and others. Based on end user, the market is segmented into hospitals & clinics, home healthcare, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. These regions are further analyzed on the basis of their respective countries.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
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KEY BENEFITS FOR STAKEHOLDERS
– The study provides an in-depth analysis of the global spirometer market along with the current trends and future estimations to elucidate the imminent investment pockets.
– Comprehensive analysis of factors that drive and restrict the market growth is provided in the report.
– Comprehensive quantitative analysis of the industry from 2019 to 2027 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
– Extensive analysis of the key segments of the industry helps in understanding the forms and types of spirometer used across the globe.
– Key market players and their strategies have been analyzed to understand the competitive outlook of the market.
LIST OF KEY PLAYERS PROFILED IN THE REPORT
– SCHILLER
– Hill-Rom, Inc.
– Midmark Corp.
– Vitalograph
– COSMED srl
– MGC Diagnostics Corporation
– Smiths Medical
– Vyaire Medical
– Teleflex
– NSPIRE HEALTH INC.
KEY MARKET SEGMENTS
By Type
– Hand-Held
– Table-Top
By Technology
– Volume Measurement
– Flow Measurement
By Application
– Asthma
– COPD
– Others
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By End-User
– Hospitals and Clinics
– Home Healthcare
– Others
By Region
North America
– U.S.
– Canada
– Mexico
Europe
– Germany
– UK
– France
– Italy
– Spain
– Rest of Europe
Asia-Pacific
– Japan
– China
– India
– Australia
– Rest of Asia-Pacific
LAMEA
– Brazil
– Saudi Arabia
– South Africa
– Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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