(I-BusinessNews.Com, May 21, 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.
Based on end user, the Spirometry Market is segmented into hospitals, clinical laboratories, home care settings, and industrial settings. The hospitals segment is expected to account for the highest share in 2019. Rapidly growing aging population, the increase in reimbursements for clinical tests performed in hospitals, and the launch of advanced spirometer devices are the factors driving the growth to this market during the forecasted period.
The major players operating in this Spirometry Market are Hill-Rom, Inc. (US), Midmark Corp. (US), Futuremed (US), COSMED (Italy), MGC Diagnostics Corporation (US), Vyaire Medical (US), Medical International Research (Italy),Vitalograph (UK), ndd Medical Technologies (Zurich), Inc., Schiller AG (Switzerland), Jones Medical Instrument Company (US), Sibelmed (Spain), 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).
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spirometer products market 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.
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