(I-BusinessNews.Com, February 10, 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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The rising global incidence of respiratory diseases, increasing aging population, and the technological shift in spirometer devices towards smartphone-based data acquisition are the key factors driving the growth of this market.
The spirometer market has been segmented based on product, mechanism, application, end user and region.
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.
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Based on application, the spirometer market is segmented into COPD, asthma, and other applications. The COPD segment accounted for the highest segment in 2019. The large share of this segment can be attributed to the high and growing prevalence of COPD globally and the easy diagnosis of COPD offered by spirometry.
Based on end user, the spirometer market is segmented into hospitals, clinical laboratories, home care settings, and industrial settings. The hospitals segment accounted for the highest share in 2019. The large share of this segment can be attributed to factors such as the rapidly growing aging population, the increase in reimbursements for clinical tests performed in hospitals, and the launch of advanced spirometer devices.
The global spirometer market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World (RoW). The market for North America accounted for the highest 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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