Spirometer Market: Growing at a CAGR of 10.0% : Will Hit 2.87 Billion by 2032 : Says Emergen Research
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Rising prevalence of respiratory diseases is a key factor driving market revenue growth
VANCOUVER, B.C., CANADA, June 13, 2023/EINPresswire.com/ -- The global spirometer market size was USD 1.10 Billion in 2022 and is expected to register a steady revenue CAGR of 10.0% during the forecast period, according to latest analysis by Emergen Research. The market for spirometers has been expanding significantly in recent years due to a number of causes, including an ageing population, rising respiratory disease prevalence, and technological developments in spirometry equipment. Spirometry is a commonly used diagnostic method for evaluating lung function, making it crucial for the identification and follow-up of numerous respiratory disorders.
The significance of the spirometer market in the healthcare industry may be seen from a market overview. Spirometers are medical tools that measure the amount of air that is inhaled and exhaled from the lungs, as well as the rate at which air moves through the body when breathing. These tools aid in the diagnosis and treatment of respiratory disorders such cystic fibrosis, asthma, and chronic obstructive pulmonary disease (COPD). The need for spirometry equipment is anticipated to increase as the burden of respiratory disorders increases globally.
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The spirometer market is expanding as a result of numerous factors. The first main cause is the rising incidence of respiratory disorders. The World Health Organisation (WHO) estimates that there are over 235 million asthma sufferers worldwide. More than 200 million people worldwide suffer from COPD, and by 2030 it's expected to overtake heart disease as the third biggest cause of mortality. The increasing prevalence of these disorders makes the use of spirometry tools for precise diagnosis and monitoring necessary.
The primary aim of the report is to offer market overview, product scope, growth prospects, and risks. The report also offers in depth information about each player in the global Spirometer market along with its global standing, financial status, product launch, business expansion plans among others. The market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.
Companies profiled in the global Spirometer market:
Baxter, Jones Medical Instrument Company, MGC Diagnostics Corporation, Midmark Corporation, NDD Medical Technologies, KoKo PFT, OHD, Koninklijke Philips N.V., ICU Medical, and Teleflex Incorporated.
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Some Key Highlights From the Report
In terms of revenue, the handheld segment dominated the worldwide spirometer market in 2022. This is due to the fact that a portable spirometer enables users to assess their lung function without needing to schedule an unneeded doctor's appointment. There are standalone portable spirometry devices as well as ones that link to a smartphone app to deliver more information. In long-term epidemiological research, portable spirometers are routinely used to measure and track forced vital capacity (FVC) and forced expiratory volume in one second (FEV1).
During the projected period, the peak flow measurement segment is anticipated to experience consistently rapid revenue growth. A quick test to gauge how much air is exhaled from the lungs is the measurement of peak flow. This statistic is referred to as Peak Expiratory Flow Rate (PEFR) or Peak Expiratory Flow (PEF). The group most likely to keep an eye on their peak flow is asthmatics. Peak flow measurements demonstrate a person's capacity to aggressively exhale air from their lungs. A Peak Flow Metre (PFM) is frequently used, and it is important to use the same PFM consistently.
During the anticipated period, the Europe market is anticipated to see a reasonably rapid revenue growth rate. This is brought on by an increase in the prevalence of respiratory and cardiovascular conditions, a focus on R&D expertise in medical equipment, and the adoption of advanced healthcare technologies. In the European Union, asthma affected over 6% of the populace in 2020. Finland had the highest prevalence of those reporting asthma symptoms in the European Union (9%), followed by Germany (8%) and France (8%). Only 2% of respondents, including those from Romania and Bulgaria, claimed to have this illness.
Emergen Research has segmented the global spirometer market on the basis of product type, technology, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2019-2032)
Handheld
Tabletop
Software
Consumables & Accessories
Others
Technology Outlook (Revenue, USD Billion; 2019-2032)
Volume Measurement
Flow Measurement
Peak Flow Measurement
Application Outlook (Revenue, USD Billion; 2019-2032)
Asthma
COPD
Cystic Fibrosis
Pulmonary Fibrosis
Other Applications
End-use Outlook (Revenue, USD Billion; 2019-2032)
Hospital & Clinics
Home Healthcare
Others
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Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Outlook of Spirometer Market:
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
How will the Spirometer Market, 2023 to 2032 report help you?
In summary, our 250-page report provides you with the following knowledge:
Revenue forecasts to 2032 for Spirometer Market, 2023 to 2032 Market, with forecasts for include report segmentation and company size, each forecast at a global and regional level – discover the industry’s prospects, finding the most lucrative places for investments and revenues.
Revenue forecasts to 2032 for four regional and 20 key national markets – See forecasts for the Spirometer Market, 2023 to 2032 market in North America, Europe, Asia-Pacific and LAMEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
Prospects for established firms and those seeking to enter the market – including company profiles for 15 of the major companies involved in the Spirometer Market, 2023 to 2032.
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