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| Spirometer Market |
The global Spirometer Market is estimated to be valued at US$ 1,148.7 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Spirometer is a medical device used to measure lung function quantitatively by
measuring the amount (volume) and/or speed (flow) of air that can be inhaled
and exhaled. Spirometry provides a direct measure of how well the lungs work.
It is often used to discover lung disease, monitor treatment, and determine
disability.
Market key trends:
The increasing prevalence of chronic obstructive pulmonary disease (COPD)
worldwide is expected to foster market growth over the forecast period.
According to World Health Organization (WHO), COPD is projected to be the third
leading cause of death globally by 2030. Growing adoption of wearable
spirometers is another key trend propelling market growth. Wearable spirometers
are portable devices that can be easily worn by patients and are convenient to
use. They offer continuous respiratory monitoring and track changes in lung
function over time.
Segment Analysis
Spirometer market is segmented by Product, Technology, End-User, and Region.
Based on product, the spirometer market is segmented into table-top spirometer,
hand-held spirometer and desktop (PC) spirometer. The table-top spirometer
segment dominated with a market share of around 38% in 2023. Table-top
spirometers are versatile, easy to use, and affordable diagnostic devices that
are the preferred choice for respiratory assessment in primary and secondary
care settings.
Key Takeaways
The global Spirometer
Market Growth is expected to witness high growth, exhibiting CAGR of 9.5% over the forecast period,
due to increasing prevalence of respiratory diseases.
Regional analysis
North America dominated the spirometer market in 2023 with around 35% of the
global market share. This is attributed to rising healthcare expenditure and
increasing adoption of digital healthcare services in the region. Asia Pacific
is expected to witness the highest growth over the forecast period supported by
increasing respiratory disorders, growing demand for advanced healthcare technologies,
and improving healthcare infrastructure in emerging economies.
Key players
Key players operating in the spirometer market are Koninklijke Philips N.V.,
SCHILLER, Midmark Corporation, Smiths Medical, Vyaire Medical, Inc., SDI
Diagnostics, Nihon Kohden Corporation, COSMED srl, Fukuda Sangyo Co. Ltd.,
Medicare Systems, MGC Diagnostics Corporation, LabTech, Vitalograph, Futuremed,
Geratherm Medical AG, Guangzhou Medsinglong Medical Equipment Co., Ltd, Aluna,
and Welch Allyn. Koninklijke Philips N.V. is one of the leading players owing
to its wide product portfolio and global market presence.
For more insights, read- https://www.ukwebwire.com/spirometer-market-trends-size-and-share-analysis/
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