Global Spirometer Market

1. Global Spirometer Market Retains Robust Growth: Projected to Grow at a CAGR of 11.1% During the Forecast Period Global Spirometer Market- Industry Trends & Forecast Report 2027 View report Sample report Press release Summary Global Spirometer Market, By Product (Consumables & Accessories, Devices, Software), By Mechanism (Flow-Sensing Spirometers, Peak Flow Meters), By Application (COPD, Asthma, Others), By End-User (Hospitals, Clinical Laboratories, Home Care Settings, Industrial Settings), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)Trend Analysis, Competitive Market Share & Forecast, 2017-2027 A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global spirometer market was worth USD 802.0 million in the year 2020. The data generated by the study reveals that the market is estimated to grow at a CAGR of 11.1%, earning revenue of around USD 1,652.8 million by the end of 2027. Factors contributing to the market's growth include the growing prevalence of respiratory diseases and the increasing geriatric population. This age group is particularly susceptible to a variety of chronic respiratory illnesses, which can be easily detected with spirometers. According to Globe Ageing Network (WA) projections, the world had 703 million people aged 65 and up in 2019. By 2050, the geriatric population is predicted to reach 1.5 billion. Furthermore, technological advancements in the medical sector are further propelling the growth of the global spirometer market.For instance, the introduction of portable and compact spirometers with smart device connectivity allows clinicians and hospitals to gain access to patient data more quickly, which in turn is propelling the market growth.

2. Global Spirometer Market Retains Robust Growth: Projected to Grow at a CAGR of 11.1% During the Forecast Period Global Spirometer Market- Industry Trends & Forecast Report 2027 The global spirometer market was worth USD 802.0 million in 2020 and is further projected to reach USD 1,652.8 million by the year 2027, growing at the CAGR of 11.1% in the forecast period. The market is expected to grow at a significant rate owing to factors such as the growing prevalence of chronic respiratory diseases and the gradual shift towards home-care treatment for patients. Furthermore, technological advancements in the devices and software in spirometers are further growing to propel the global spirometer market during the forecast period. Global Spirometer Market- Overview Spirometry is a type of pulmonary function test (PFT), which is a non-invasive way of determining how effectively a patient's lungs are functioning. The patient must sit and breathe into a small machine known as a spirometer during a spirometry test. A spirometer is a device or apparatus for measuring the volume of airflow in your lungs. The doctors use this device to check the health of lungs and their functioning. It is a non-invasive procedure that provides crucial information regarding the proper functioning of the lungs like the speed of the airflow as it moves in or out of the lungs. These medical devices are increasingly being used for lung illnesses like asthma, COPD and it also helps lungs in recovering after surgery. Global Spirometer Market Forecast and Trends Growth Drivers Increasing Prevalence of Respiratory Diseases The prevalence of various respiratory chronic diseases like asthma, COPD, pulmonary fibrosis, etc. is rising at a very rapid rate across the globe. Spirometer sales are growing due to the growth of respiratory illnesses and the increased consumption of alcohol and tobacco. Five respiratory disorders that account for the top 30 leading causes of death in the world. The third leading cause of death is the chronic obstructive pulmonary disease (COPD).According to an estimate, around 328 million people are suffering from COPD, and around 300 million individuals are suffering from asthma. A lot of factors influence the growing cases of respiratory diseases, such as smoking and passive smoking, infection, air pollution, etc. As a result, the demand for spirometers for monitoring and measuring the health of the lungs is also surging. Open Growth Opportunities in The Emerging Economies Emerging economies like India, China, South Korea are still untapped in the global spirometer market. The penetration of spirometers is still very limited in these markets mainly due to a shortage of skilled healthcare workers and the unavailability of spirometer devices in various areas. With the increasing prevalence of respiratory diseases and the rising geriatric population, the demand for spirometers is projected to flourish significantly in the emerging economies during the forecast period. Therefore, several market players are trying to improve their distribution channels to increase their presence in emerging economies.

3. Global Spirometer Market Retains Robust Growth: Projected to Grow at a CAGR of 11.1% During the Forecast Period Restraints The Dearth of Skilled Healthcare Professionals and Complicated Procedure The lack of skilled healthcare professionals who can perform the diagnostic and monitoring tests using spirometers acts as a major restraint for the growth of the global spirometer market. In developing economies, there is a huge shortage of healthcare workers who can use a spirometer. The reason behind the shortage is because skilled workers are migrating to the developed countries at a high rate. This has resulted in the restrictive adoption of spirometers in emerging economies. Moreover, During a spirometry test, the test subject blows into a mouthpiece for six seconds at their maximum lung capacity. In order to verify the validity of the results, the test is performed in triplicate, followed by a repeatability assessment. This factor not only complicates the procedure but also reduces patient satisfaction with follow-up examinations. Also, the lack of consistent reimbursement procedures is a significant hindrance to the expansion and adoption of spirometers in developing nations Impact of COVID-19 on Global Spirometer Market Spirometer sales have flourished significantly following the COVID-19 pandemic. There was a high market demand for spirometer devices as many healthcare facilities using them to check the lung function of patients who were suffering from COVID-19. Furthermore, health experts around the world recommend using a spirometer to strengthen the lungs after COVID-19 recovery. Furthermore, the risk of Coronavirus infection is also higher in people already suffering from any respiratory disease; therefore, they have to undergo regular testing for ensuring their safety from the virus. As a result, demand for spirometers spiked during the COVID-19 outbreak, driving the growth of the overall market. Global Spirometer Market - By Product Based on products, the global spirometer market is categorized into consumables & accessories, devices, and software. The demand for spirometer devices is very prominent in the management of various respiratory devices. The market players also use advanced technology to improve spirometer devices, thereby accelerating the adoption of spirometers worldwide. However, the software segment of the spirometer market is also gaining significant traction and is estimated to grow at a high CAGR during the forecast period. As demand for the software in this market shifts towards home-care settings and the high penetration of online platforms, the market is seeing a spike in demand for this software. Global Spirometer Market - By Application Based on application, the global spirometer market is segmented into COPD, asthma, and others. COPD or chronic obstructive pulmonary disease holds the largest market share and is likely to maintain its dominance even during the forecast period. According to an estimate, around 328 million people around the world suffer from mild to severe COPD. Moreover, in 2019, COPD killed 3.23 million people worldwide, according to the WHO. As a result, there is a strong demand for monitoring the health of COPD patients' lungs, which is also

4. Global Spirometer Market Retains Robust Growth: Projected to Grow at a CAGR of 11.1% During the Forecast Period contributing to the spirometer's rising popularity. The application of spirometers for asthma patients is also growing at high CAGR. Global Spirometer Market - Regional Insights Geographically, the global spirometer market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among all the regions, North America dominates the market due to the increasing prevalence of respiratory diseases as well as developed and accessible healthcare services. A favorable primary health care environment for early diagnosis and management of chronic lung diseases such as COPD and asthma is projected to drive growth in the spirometer market in the Asia Pacific. Competitive Landscape The leading market players in the global spirometer market are Vitalograph, Smiths Medical, Inc., Cosmed SRL, Jones Medical Instrument Company, Guangzhou Medsinglong Medical Equipment Co. Ltd., Medical International Research, MGC Diagnostics, Vyaire Medical, Fukuda Sangyo, Contec Medical Systems Co. Ltd., Medline Industries, Inc., Nihon Kohden Corporation, Labtech Ltd., Geratherm Respiratory AG, and other prominent players. The market is occupied with both respiratory device manufacturers as well as standalone spirometer manufacturers. The market players indulge in introducing innovations and technological advancements into their products to stay ahead in the competition. They are essentially targeting developed countries like the US, Germany, etc. to expand their revenue share. Furthermore, the adoption of competitive strategies like partnerships, mergers and acquisitions, collaborations, and joint ventures are also very prominent in this market. Recent Developments lIn June 2021, NovoAir, a Swedish digital health company announced to have raised USD 12 million in a Series A funding led by AlbionVC. Through this funding, the company aims to expand its chronic disease management and clinical trial platform. lIn April 2021, ERT, a US-based healthcare company, announced the up- gradation of MasterScope, it’s Pulmonary Function Testing (PFT) platform, with new features and functionalities. After this upgrade, MasterScope is now equipped with wireless and secure Bluetooth technology with faster processing. Scope of the Report Attributes Details

5. Global Spirometer Market Retains Robust Growth: Projected to Grow at a CAGR of 11.1% During the Forecast Period Historical data – 2017-2020 Years Considered Base Year – 2020 Forecast – 2021 – 2027 Facts Covered Revenue in USD Million Market Coverage North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa By Product, By Mechanism, By Application, By End- User, By Region Product Service/Segmentation Vitalograph, Smiths Medical, Inc., Cosmed SRL, Jones Medical Instrument Company, Guangzhou Medsinglong Medical Equipment Co. Ltd., Medical International Research, MGC Diagnostics, Vyaire Medical, Fukuda Sangyo, Contec Medical Systems Co. Ltd., Medline Industries, Medizintechnik AG, Corporation, Fysiomed, Philips Healthcare, Nihon Kohden Corporation, Labtech Ltd., Geratherm Respiratory AG, and other prominent players. Key Players Inc., NDD Sibelmed, Midmark By Product ØConsumables & Accessories ØDevices PC-Based Spirometers Portable Spirometers Table-Top Spirometers ØSoftware By Mechanism ØFlow-Sensing Spirometers ØPeak Flow Meters By Application ØCOPD ØAsthma ØOthers By End-User

6. Global Spirometer Market Retains Robust Growth: Projected to Grow at a CAGR of 11.1% During the Forecast Period ØHospitals ØClinical Laboratories ØHome Care Settings ØIndustrial Settings By Region ØNorth America ØEurope ØAsia-Pacific (APAC) ØLatin America (LATAM) ØMiddle-East & Africa (MEA) FAQs: 1. What is the current size of the global spirometer market? Answer: The global spirometer market reached USD 802.0 million in 2020. 2. What are the major factors driving the growth of the global spirometer market? Answer: The major factors driving the growth of the global spirometer market are increasing prevalence of respiratory diseases and lucrative growth opportunities in the emerging economies. 3. Who are the key players in the global spirometer market? Answer: The key players in the global spirometer market are: Vitalograph, Smiths Medical, Inc., Cosmed SRL, Jones Medical Instrument Company, Guangzhou Medsinglong Medical Equipment Co. Ltd., Medical International Research, MGC Diagnostics, Vyaire Medical, Fukuda Sangyo, Contec Medical Systems Co. Ltd., Medline Industries, Inc., NDD Medizintechnik AG, Sibelmed, Midmark Corporation, Fysiomed, Philips Healthcare, Nihon Kohden Corporation, Labtech Ltd., Geratherm Respiratory AG, and other prominent players. 4. Which application segment accounted for the largest share in the global spirometer market? Answer: The COPD segment accounted for the largest share in the global spirometer market. 5. Which region is at the largest share in the global spirometer market? Answer: North America has the largest share in the global spirometer market.

7. Global Spirometer Market Retains Robust Growth: Projected to Grow at a CAGR of 11.1% During the Forecast Period About us Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade- off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com

8. Global Spirometer Market Retains Robust Growth: Projected to Grow at a CAGR of 11.1% During the Forecast Period

9. Global Spirometer Market Retains Robust Growth: Projected to Grow at a CAGR of 11.1% During the Forecast Period