The Spirometer Market size is estimated to reach $1.3 Billion by 2025, growing at a CAGR of 9.45% during the forecast period 2020-2025. A spirometer is a diagnostic device that measures the number of air patients able to breathe in and out and the time it takes to exhale completely after patients take a deep breath. Rising elderly population prone to suffer from various chronic ailments is acts as primary driver for device adoption. Moreover, the Government initiatives to reduced smoking habits, focus on breathing diseases, rising levels of air pollution and adoption of spirometers at homes are factors likely to indicate market growth. Increasing health adoption, as well as increasing demand in medical Device properties, is driving the growth of Spirometer market during the forecast period 2020-2025.
Spirometer Market Segment Analysis – By Product Type
Based on Product Type, Spirometer Market is segmented into Table Top, Handheld, and Desktop. A Tabletop spirometer accounted for major share of Spirometer Market in 2019 and is also set to be the fastest growing with a CAGR of 12.4% during the forecast period 2020-2025. This is owing to recent trends affecting the spirometer market are COVID-19 outbreak and ririsng incidence of respiratory diseases, increasing adoption in emerging economies and rising geriatric population.
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Spirometer Market Segment Analysis – By Technology
Based on Technology, Spirometer Market is segmented into Volume Measurement and Peak Flow Measurement. Peak flow measurement holds highest share in 2019. This is owing to the peak flow meters that can provide early detection of worsening changes in lung function and indicate one’s response to rescue medication during an acute asthma episode. The Peak Flow Measurement market is also set to be the fastest-growing CAGR during the forecast period 2020-2025.
Spirometer Market Segment Analysis – By Geography
Based on Geography the Spirometer Market is segmented into North America, Europe, Asia-Pacific, Middle East, Latin America and the Rest of the World. North America dominated the spirometer market with a share of 37.9% in 2019. This is attributed owing to a large patient base with respiratory disorders. Asia Pacific region is set to be the fastest-growing CAGR during the forecast period 2020-2025. This is owing to improved primary care initiatives for early diagnosis and management of chronic lung diseases such as asthma are set to drive the market in Asia Pacific region.
Spirometer Market Drivers
The key factors driving the spirometer market growth include the dramatic increase in the incidence of chronic obtrusive pulmonary diseases (COPD), rising levels of air pollution, and technological improvements in monitoring solutions all over the world. This in thus is driving the demand of Spirometer market during the forecast period 2020-2025.
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Spirometer Market Challenges
The main Challenge for the market is: Need for skilled professionals and the possibility of inaccuracy, the accuracy of spirometry tests depends greatly on the patient, and the technologist. Most pre-school and old age population are not able to perform the test accurately. Moreover, in the case of personalized devices, the challenge exists in maintaining the accuracy of the data owing to high dependency on the ability of the patient to use the spirometer accurately. This forms a huge challenge for the adoption of personalized spirometers.
Spirometer Market Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Spirometer Market. Key companies of this market are Philips, NuvoAir, Smiths Medical, Medical International Research, Vyaire Medical, Sibelmed, Geratherm Medical AG, Progetti srl, Nihon Kohden Corporation, and Schiller AG among others.
Spirometer Market Developments:
In January 2020, Smiths Medical Announces Launch of Portex Tracheostomy Tubes and Kits. When caring for a patient with a tracheostomy, a tube should be chosen to best suit the patient’s specific clinical need. And the new tracheostomy tubes have options for a variety of patients.
Geographically, North America Spirometer Market accounted for the highest revenue share in 2019 owing to the high cases of chronic diseases, awareness of respiratory devices, and increased healthcare budgets of developed nations in the region.
Factors such as growing consumer awareness for safe Devices, rising number of people suffering from Obstructive Pulmonary Disease (COPD), Cystic Fibrosis, Pulmonary Fibrosis, and Asthma and other diseases are driving the demand of Spirometer Market during the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Spirometer Market report.
Related Reports :
A. Smart Medical Devices Market
B. Asthma and Copd Devices Market
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