The “Spirometer Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global spirometer market is expected to grow at a compound annual growth rate of 8.16% over the analyzed period to reach a market size of US$2.198 billion in 2026 from US$1.269 billion in 2019.
Surging causes of chronic obtrusive pulmonary diseases in the key driver of the market. Spirometers are used as diagnostic and therapeutic devices to treat pulmonary disease. Further, favorable government policies and rising health care expenditure will surge the demand for spirometers. Technological advancement opens new prospects for market growth.
Tabletop spirometer to hold a significant market share of the global spirometer industry
Based on the platform, the global spirometer market is divided into PC or Laptop, handheld, and table-top spirometers. PC or Laptop spirometers have a large influence on the market growth owing to more accurate results and technological advancement of such devices.
The Tabletop spirometers, on the other hand, are calculated to grow at an auspicious rate during the forecasted period. Technological advancement in this segment will drive market growth. Cosmed, for instance, offers a tabletop spirometer with having an internal rechargeable battery, LCD screen, and inbuild thermal printer, and printing of pediatric incentivization graphics on the volume and flow, using PEF and FVC technology. Moreover, these spirometers do not require computer or power leads, making them unique. However, the presence of substitutes such as forced oscillation techniques may hinder the market prospects of this segment.
Hospital and Clinic will hold a dominating share of the market
By end-users, the market is fragmented into hospitals, clinics, ambulatory care units, and households. The hospital and clinic demand for spirometers is speculated to dominate the market demand for spirometers during the forecasted period. Hospitals and clinics are industries where spirometers are used for both, diagnostic and therapeutic purposes. Increasing cases of COPD are driving the demand for spirometers for treatment in hospitals.
Further, investment and infrastructure development in the healthcare segment supports the segment growth. The government of India, for instance, announced a 2.37 times increase in the investment in the healthcare sector in Union Budget 2021-22 and US$87.85 billion were outlay to be invested in the sector in the next 6 years period, providing ample scope for the Indian spirometer market.
The North American region will have a humongous share in the global spirometer market while the Asia Pacific region will project huge growth prospects during the forecasted period.
Based on geography, the global spirometer market is divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific region. The North American region is projected to hold a humongous share of the spirometer market amid its state-of-art infrastructure facilities and high expenditure on the healthcare sector.
The US Federal government is reported to spend around US$1.2 trillion on the healthcare sector in the year 2019, which is equivalent to 16.9% of the country’s GDP. While Canada spends 10.7% of its GDP on healthcare. Growth in the healthcare sector provides huge market prospects for the spirometer apparatus.
The Asia Pacific spirometer market, however, is anticipated to show considerable growth owing to rising expenditure on the healthcare sector, both by government and out-of-pockets. Further, degrading air quality in the region due to industrialization and urbanization has increased the cases of COPD and the demand for spirometers for diagnosis and treatment.
The coronavirus pandemic had a moderate impact on the spirometer market. A surge in the need for better healthcare to deal with the virus resulted in an increase in healthcare expenditure by the government, which expanded the market scope for spirometers. However, a surge in demand for oximeters, which is a close substitute for spirometers, has consumed a considerable market of spirometers which hinders their growth.
Key Topics Covered:
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Spirometer Market, by Platform
5.2. PC or Laptop
6. Global Spirometer Market, by Type
6.3. Incentive Spirometer
6.4. Wind-mill type Spirometer
6.5. Tilt-compensated Spirometer
7. Global Spirometer Market, by Technology
7.2. Volumetric Spirometer
7.3. Flow measuring spirometer
8. Global Spirometer Market, by Application
9. Global Spirometer Market, by End-User
9.4. Ambulatory Care Units
10. Global Spirometer Market, by Geography
11. Competitive Environment and Analysis
11.1. Major Players and Strategy Analysis
11.2. Emerging Players and Market Lucrative
11.3. Mergers, Acquisition, Agreements, and Collaborations
11.4. Vendor Competitiveness Matrix
12. Company Profiles
- Hill-Rom Services Inc.
- SDI Diagnostics
- Jones Medical Instrument Company
- MIR (Medical International Research)
- MGC Diagnostics
- Geratherm Respiratory GmbH
- NDD Medical Technologies
For more information about this report visit https://www.researchandmarkets.com/r/pgztwf
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