COVID-19's Impact on the Global Spirometers Market, 2020-2025
DUBLIN, Aug. 5, 2020 /PRNewswire/ -- The "Spirometer Market by Product (Device, Consumables and Accessories, Software), Mechanism(Flow Sensor, Peak Flow Meter), Application (COPD, Asthma), End User (Hospital, Clinical Laboratory, Homecare, Industrial Setting) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global spirometers market is projected to reach USD 1,285.6 million by 2025 from USD 799.8 million in 2020, at a CAGR of 11.1%.
This report provides a detailed picture of the global spirometer market. It aims at estimating the size and future growth potential of the market across different segments, such as product, mechanism, application, end user, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Rising global incidence of respiratory diseases, growth in the geriatric population, and technological advancements in spirometer devices are driving the overall growth of the spirometer market
Market growth is largely driven by the rising global incidence of respiratory diseases, growth in the geriatric population, and technological advancements in spirometer devices. Opportunities for growth of the market exist in emerging economies on account of increasing pollution levels and rising awareness regarding COPD and other respiratory conditions.
The consumables and accessories segment accounted for the highest growth rate in the spirometer market, by product segment, during the forecast period
Based on product, the spirometer market is segmented into devices, consumables & accessories, and software. The consumables and accessories segment accounted for the largest share and highest CAGR in the spirometer market 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.
Flow-Sensing segment accounted for the highest growth rate of the spirometer market
Based on mechanism, the spirometer market is segmented into flow-sensing spirometer and peak flow meters. The flow- sensing segment is projected to witness a higher growth rate during the forecast period. This can be attributed to the rising incidence of chronic respiratory diseases and technological advancements.
COPD segment accounted for highest CAGR
Based on application, the spirometer market is segmented into COPD, asthma, and other applications. The COPD segment accounted to show highest growth rate during the forecast period. The large share of this segment can be attributed to the high and growing prevalence of COPD globally and the easy diagnosis of COPD offered by spirometry.
Hospitals segment to register the highest growth rate during the forecast period
Based on end user, the spirometer market is segmented into hospitals, clinical laboratories, home care settings, and industrial settings. The hospitals segment is expected to account for the highest share and CAGR. 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.
Asia Pacific: The fastest-growing region spirometer market
The global spirometer market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World (RoW). The Asia Pacific region is projected to grow at the highest CAGR during the forecast period in 2019. The large share of this market segment can be attributed to the increasing incidence of chronic respiratory diseases and the rising adoption of technologically advanced devices in the region.
COVID-19's Impact on the Spirometers Market, 2020-2025
Market Dynamics
Drivers
- Rising Incidence of Respiratory Diseases
- Growth in the Geriatric Population
- Technological Shift Towards Smartphone-Based Data Collection
Restraints
- Time Required to Perform Tests
Opportunities
- Emerging Economies
Challenges
- Need for Skilled Professionals and the Possibility of Inaccuracy
Companies Profiled
- CHEST M.I. (Japan), Inc.
- CONTEC (China)
- COSMED (Italy)
- Clarity Medical (India)
- FUKUDA SANGYO Co. Ltd. (Japan)
- Futuremed (US),
- Fysiomed (Belgium)
- Guangzhou Medsinglong Medical Equipment Co. Ltd. (China).
- Hill-Rom, Inc. (US)
- Jones Medical Instrument Company (US)
- MGC Diagnostics Corporation (US)
- Medical International Research (Italy)
- Medikro (Finland)
- Medline (US)
- Midmark Corp. (US)
- Recorders and Medicare Systems (India)
- Schiller AG (Switzerland)
- Sdi Diagnostics (US)
- Sibelmed (Spain)
- Smiths Medical (US)
- Teleflex (US)
- Vitalograph (UK)
- Vyaire Medical (US)
- NDD Medical Technologies (Zurich)
For more information about this report visit https://www.researchandmarkets.com/r/x9icxg
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