Spirometers Market Worth $1,047 Million by 2023 - Exclusive Report by MarketsandMarkets™
CHICAGO, Feb. 5, 2019 /PRNewswire/ --
According to the new market research report "Spirometer Market by Product (Device, Consumables, Accessories, Software), Mechanism (Flow Sensor, Peak Flow Meters), Application (COPD, Asthma), End User (Hospital, Clinical Laboratories, Home care, Industrial Settings) - Global Forecast to 2023", published by MarketsandMarkets™, the Spirometers Market is expected to reach USD 1,047 million by 2023 from USD 655 million in 2018, at a CAGR of 9.8%.
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Growth in this market is largely driven by the rising global incidence of chronic respiratory diseases, increasing global aging population, and technological shifts in spirometer devices towards smartphone-based data connectivity.
Consumables & accessories dominated the Spirometers Market in 2018.
By product, the Spirometers Market is segmented into devices, consumables & accessories, and software. Devices are further segmented into PC-based, portable, and table-top spirometers. In 2018, the consumables & accessories accounted for the largest share of the market. The rising incidence of chronic respiratory diseases and technological shifts toward better data connectivity are driving the growth of this product segment.
Browse in-depth TOC on "Spirometers Market"
91 – Tables
28 – Figures
115 – Pages
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COPD applications dominated the market in 2018.
Based on applications, the Spirometers Market is segmented into COPD, asthma, and other applications. In 2018, the COPD segment accounted for the largest share of the Spirometers Market. The large share of this segment can be attributed to the rising global prevalence of respiratory diseases and the increasing global aging population.
Hospitals were the largest end users in the Spirometers Market in 2018
By end user, the Spirometers Market is segmented into hospitals, clinical laboratories, home care settings, and industrial settings. The hospitals segment accounted for the largest market share in 2018 while the home care settings segment is projected to grow at the highest CAGR during the forecast period. The growing patient population and the improving healthcare infrastructure in developing countries are some of the key factors driving the growth of the hospitals segment.
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North America commanded the largest share of the Spirometers Market in 2018.
North America commanded the largest share of the Spirometers Market. The large share of this regional segment can be attributed to the increasing incidence of chronic respiratory diseases. In addition to this, the increasing global aging population is also driving the growth of this market.
Some of the major players in this market include Hill-Rom (US), Vyaire Medical (US), Fukuda Sangyo (Japan), Chest MI (Japan), Schiller AG (Switzerland), MGC Diagnostics (US), Medical International Research (Italy), NDD Medical Technologies (Switzerland), Vitalograph (UK), and MidMark Corporation (US).
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