New Jersey, NJ, Sept. 03, 2019 (GLOBE NEWSWIRE) -- The key contributing factors for the market growth are increase in incidence of chronic obtrusive pulmonary diseases (COPD), rising levels of air pollution, technological improvements in monitoring solutions using smartphone-based data collection, rising incidence of respiratory diseases, and growth in geriatric population. The global spirometer market is expected to grow from USD 635.11 million in 2017 to USD 1,234.44 million by 2025 at a CAGR of 8.15% during the forecast period 2018-2025, according to the new report published by Fior Markets.
Spirometer is a painless test using a tool used to measure presence of air in a person’s lungs. It measures the volume of air inhaled and exhaled from the lungs which is measured after maximum inhalation by the patient. The spirometer is used in hospitals, clinical laboratories, home care settings, and industrial settings for analysis of asthma, chronic obstructive diseases, and other respiratory diseases. According to the U.S. Department of Health and Human Services (HHS), in 2011, more than 830,000 people were diagnosed with COPD. This number has increased by around 27% over the past decade. In addition, increasing air pollution levels and environmental conditions is conversely increasing the occurrences of asthma cases. This has increased demand for spirometers market.
Increase in incidence of chronic obtrusive pulmonary diseases (COPD), rising levels of air pollution, and technological improvements in monitoring solutions using smartphone-based data collection are the key driving factors for the spirometer market. In addition, rising incidence of respiratory diseases, and growth in geriatric population will lead the growth of spirometer market in couple of years. The time required performing the test, lack of standard reimbursement policies, and lack of financial assistance and awareness about the symptoms of respiratory diseases may limit the growth of market. However, government initiatives to increase awareness regarding respiratory diseases and their treatment and emerging economies is expected to boost the spirometer market over the forecast period.
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Key players operating in the global spirometer market are Hill-Rom, Vyaire Medical, Fukuda Sangyo, Chest M.I., Schiller AG, MGC Diagnostics, Medical International Research, NDD Medizintechnik AG, Vitalograph, Midmark Corporation, Benson Medical Instruments, Bionet America, Inc., COSMED srl, Advanced Medical Engineering, Medikro Oy, and among others. The Hill-Rom, Vyaire Medical, Fukuda Sangyo, Chest M.I., Schiller AG, and MGC Diagnostics are the top leading players of the market. Key players active in the market are involved in collaborative agreements and expansion to bolster the growth of the spirometer market.
- For instance, in 2017, NuvoAir (formerly called Pond Healthcare Innovation) which is commercializing the Air Smart Spirometer has entered into a partnership with Novartis Pharma AG to distribute NuvoAir's spirometry technology to physicians worldwide.
- For instance, in 2016, Propeller Health and Medical International Research (MIR) collaborated to integrate several of MIR's mobile and clinical spirometers into the Propeller system. This integration helps in monitoring treatment process by controlling and improving quality of life.
Peak flow meters segment valued around USD 339.85 million in 2017.
Mechanism segment includes flow-sensing spirometers and peak flow meters. Peak flow meters segment dominated the global spirometer market and valued around USD 339.85 million in 2017 owing to demand for peak flow meters. To measures air flowing out of the lungs peak flow meter are used. It helps to find narrowing of the airways well in advance of an asthma attack.
Consumables & accessories segment is held largest market share of 39.05% in 2017.
Product segment is divided into consumables & accessories, devices, and software. The devices segment further includes pc-based spirometers, portable spirometers, and table-top spirometers. Consumables & accessories segment dominated the global spirometer market and held largest market share of 39.05% in 2017 due to rising incidence of chronic respiratory diseases and technological advancements related to consumer devices.
Chronic obstructive pulmonary disease (COPD) segment is anticipated to grow with highest CAGR 9.61% during the forecast period.
Application segment is segmented into chronic obstructive pulmonary disease (COPD), asthma, cystic fibrosis, pulmonary fibrosis, and other. Chronic obstructive pulmonary disease (COPD) segment dominated the global spirometer market and is anticipated to grow with highest CAGR 9.61% during the forecast period. Here, contributing factors are increasing global prevalence of respiratory diseases and the growing number of aged population.
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Hospitals segment is expected to hold the largest share of 39.47% during the forecast period.
End use segment is categorized into hospitals, clinical laboratories, home care settings, and industrial settings. Hospitals segment is expected to hold the largest share of 39.47% during the forecast period owing to higher use of spirometer in hospital settings and private practices.
Regional Segment Analysis of the Spirometer Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region dominated the global spirometer market with USD 241.60 million in 2017 where as Asia Pacific region held the second dominant position in the market. Increasing number of patience dealing in asthma and COPD, technological advancements, prevalence of unhealthy lifestyle, and awareness among people about respiratory disease are some of the factors that led to the growth of spirometer market in North America region. Asia Pacific is anticipated to be the fastest growing region over the forecast period due to the rising geriatric population, incidences of chronic diseases, and refining healthcare infrastructure are creating opportunity for the growth of the market.
About the report:
The global spirometer market is analysed on the basis of value (USD Million), volume (‘000 Units), consumption (‘000 Units), imports (‘000 Units) and exports (‘000 Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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