(I-BusinessNews.Com, August 04, 2021 ) 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%.
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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.
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. The rising incidence of respiratory diseases and the growing geriatric population are the key factors driving the growth of this product segment.
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. The rising incidence of chronic respiratory diseases and technological advancements are driving the growth of this segment.
Opportunity: Emerging economies
Emerging economies such as India, Brazil, China, and South Africa provide significant opportunities for players in the spirometry devices market. Of the top 20 most polluted cities in the world, 14 are in India. The use of spirometers for monitoring lung health is at a very low level in these countries.
The major players operating in this Spirometry Market are Hill-Rom, Inc. (US), Midmark Corp. (US), Futuremed (US), COSMED (Italy), MGC Diagnostics Corporation (US), Jones Medical Instrument Company (US), Sibelmed (Spain), Vyaire Medical (US), Medical International Research (Italy),Vitalograph (UK), ndd Medical Technologies (Zurich), Inc., Schiller AG (Switzerland), MIR, Recorders and Medicare Systems (India), Smiths Medical (US), Medline (US), Teleflex (US), CONTEC (China), Fysiomed (Belgium), Medikro (Finland), Sdi Diagnostics (US), CHEST M.I. (Japan), Inc, FUKUDA SANGYO Co. Ltd. (Japan), Clarity Medical (India), and Guangzhou Medsinglong Medical Equipment Co., Ltd. (China).
Recent Developments:
> In 2018, The Schiller AG opened a new manufacturing site in Guangzhou, China.
> In November 2018, Schiller AG launched CARDIOVIT CS-200 ErgoSpiro System device.
> In 2017, MIR partnered with Tactio Health Group (Canada) to develop telemedicine solutions for COPD.
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North America is the largest regional market for spirometer market
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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