Press release
Spirometer Global Market Report 2024 - By Size, Share, Growth, Trends, Forecast To 2033
Spirometer Market
The Business Research Company offers in-depth market insights through Spirometer Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The spirometer market size has grown strongly in recent years. It will grow from $1.15 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increased prevalence of respiratory diseases, growing emphasis on preventive healthcare, aging population demographic, clinical research and evidence-based practices..
The spirometer market size is expected to see strong growth in the next few years. It will grow to $1.63 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to shift towards home healthcare, continue clinical research, medical reimbursement policies, occupational health monitoring.. Major trends in the forecast period include remote monitoring and telemedicine, patient engagement and empowerment, digital health integration, personalized medicine and patient-centric care, market competition and innovation..
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Market Segmentation:
The spirometer market covered in this report is segmented -
1) By Type: Hand held, Table Top, Desktop
2) By Technology: Volume Measurement, Flow Measurement, Peak Flow Measurement
3) By Product: Device, Consumables and Accessories, Software
4) By Application: Asthma, COPD, Cystic Fibrous, Pulmonary Fibrosis, Other Applications
5) By End-Use: Hospitals and Clinics, Home Healthcare
Major Driver - Surge In Chronic Respiratory Diseases Drives Demand For Spirometer Market
The increase in the prevalence of chronic respiratory diseases is expected to drive the demand for spirometer market going forward. Chronic respiratory diseases are chronic condition of the airways and other parts of the lung such as asthma, chronic obstructive pulmonary disease (COPD), lung cancer, cystic fibrosis, sleep apnea, and occupational lung diseases. Portable spirometers have been approved for diagnosing chronic obstructive pulmonary disease (COPD). For instance, in July 2022, according to the Australian Institute of Health and Welfare, the Australian-Government agency reported that one-third (30%) of Australians reported having chronic respiratory conditions. Of the estimated 7.5 million Australians with these conditions, 5.1 million (20% of the total population) had allergic rhinitis ('hay fever'), 2.7 million (11% had asthma), and 2.0 million (8.0%) had chronic sinusitis (ABS 2022). Therefore, the increase in prevalence of chronic respiratory diseases is increasing demand for spirometer market.
Competitive Landscape:
Major companies operating in the spirometer market report are Fukuda Sangyo Co. Ltd., Geratherm Respiratory GmbH, Jones Medical Instrument Company, Koninklijke Philips N.V., Ndd Medical Technologies Inc., nSpire Health Inc., Schiller AG, Sdi Diagnostics Inc., Sibelmed Sau, Smiths Medical Inc., Vitalograph Ltd., Vyaire Medical Inc., Welch Allyn Inc., Baxter International Inc., Benson Medical Instruments Co., Chest M.I. Inc., COSMED srl, Depisteo LLC, Henry Schein Inc., ICU Medical Inc., MGC Diagnostics Corporation, Midmark Corporation, Minato Medical Science Co Ltd., Nuvoair AB, OHD (SCHAUENBURG International, Philips Healthcare, Recorders & Medicare Systems Pvt Ltd., Teleflex Incorporated, Morgan Scientific Inc., Futuremed America Inc.
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Top Trend - Technological Advancements Propel Spirometer Market With Wireless Solutions
Technological advancement is a key trend gaining popularity in the spirometer market. Major market players are concentrating their efforts on creating spirometers with innovative technologies like portable wireless spirometers to gain a competitive edge in the market. For instance, on November 2021, Cipla Ltd., an India-based pharmaceutical company, announced the launch of Spirofy, a pneumatic-based portable and wireless spirometer, on World COPD Day. Cipla's Spirofy ensures high result accuracy and individual patient safety using bacterial viral filters (BVF). Spirofy is entirely wireless with good battery backup, making it suitable for use in outdoor camps, remote areas with power shortages, or simply providing physicians with flexibility and ease of use.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Spirometer Market Characteristics
3. Spirometer Market Trends And Strategies
4. Spirometer Market - Macro Economic Scenario
5. Spirometer Market Size And Growth
…..
27. Spirometer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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