Global Spirometer Market to Surpass US$ 1,808.3 Million by 2028, Says Coherent Market Insights (CMI)

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SEATTLE, Aug. 16, 2021 (GLOBE NEWSWIRE) — Global Spirometer Market to Surpass US$ 1,808.3 Million by 2028, Says Coherent Market Insights (CMI)

According to Coherent Market Insights, the global spirometer market is estimated to be valued at US$ 958.0 million in 2021 and is expected to exhibit a CAGR of 9.5% over the forecast period (2021-2028).

Key Trends and Analysis of the Global Spirometer Market:

Key trends in the market include increasing prevalence of chronic respiratory disorders, increasing approval of novel products, and increasing collaborations and acquisitions among key players. These key trends are expected to aid in growth of the global spirometer market.

For instance, according to the National Health Interview Survey, 2019, it is estimated that approximately 41,393,000 people in the U.S. suffer from asthma in their lifetime, out of which adults accounted for the majority of asthma cases.

Moreover, increasing approvals of novel products is expected to drive the market growth over the forecast period. For instance, in January 2020, NuvoAir AB, a Stockholm based digital health start-up received the U.S. Food and Drug Administration (FDA) approval for its newly developed Air Next wireless spirometer which can be used at home by patients suffering from chronic lung diseases such as asthma, cystic fibrosis, and others to monitor their breathing rate accurately. Air Next wireless spirometer is connected to Air Next digital app via Bluetooth to display spirometer reading of the patient.

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Furthermore, key players operating in the global spirometer market are focusing on adoption of marketing strategies such as acquisitions and collaborations, in order to expand their market presence in the global market. For instance, in November 2018, RemetricHealth, a U.S. based digital healthcare solution provider entered into a collaboration with Boomer Esiason Foundation, a New York based charity involved in raising funds and creating awareness about cystic fibrosis, a chronic lung disease. This collaboration will help in providing Spiro PD 2.0 Personal Spirometer, manufactured by RemetricHealth to cystic fibrosis patients at the comfort of their home.

Key Market Takeaways:

The global spirometer market is expected to exhibit a CAGR of 9.5% over the forecast period, owing to growing product launches and approvals. For instance, in March 2021, Vyaire Medical, Inc., a U.S. based healthcare company launched its newly developed remote AioCare mobile spirometer which is intended for diagnosis of pulmonary diseases such as asthma, chronic obstructive pulmonary disease, and others.

Among application, chronic obstructive pulmonary disease segment is expected to account for the largest market share over the forecast period, owing to growing prevalence of chronic obstructive pulmonary disease. For instance, according to the statistics provided by the Centers for Disease Control and Prevention, in 2019 the prevalence rate of chronic obstructive pulmonary disease in adults ranged from 4.5% to 10.7% in the U.S.

Competitive Landscape:

Key players operating in the global spirometer market include 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, and Welch Allyn.

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Market Segmentation:

  • Global Spirometer Market, By Product Type:
    • Hand Held
    • Table Top
    • Desktop
  • Global Spirometer Market, By Technology Type:
    • Volume Measurement
    • Flow Measurement
    • Peak Flow Measurement
  • Global Spirometer Market, By Application:
    • Asthma
    • Chronic Obstructive Pulmonary Disease
    • Cystic Fibrosis
    • Pulmonary Fibrosis
    • Others (Others include Emphysema, Chronic Bronchitis, and Bronchiectasis)
  • Global Spirometer Market, By End User:
    • Hospitals and Clinics
    • Home Healthcare
  • Global Spirometer Market, By Region:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Country/Region
        • South Africa
        • Central Africa
        • North Africa

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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

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