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Global Spirometer Market Size Worth USD 716.8 Million at 4.7% CAGR by 2027 Backed by Presence of Established Manufacturers in North America: Fortune Business Insights™

Pune, India, Jan. 19, 2021 (GLOBE NEWSWIRE) -- The global spirometer market size is expected to showcase an exponential growth by exhibiting a CAGR of 4.7% between 2020 and 2027. This is attributable to the increasing focus on technological advancement in spirometer owing to the rising prevalence of chronic respiratory diseases globally. Fortune Business Insights, in its latest report, observes that the market stood at USD 504.2 million in 2019 and is projected to reach USD 716.8 million by 2027.

A spirometer is a type of apparatus that is used to measure the volume of air inhaled and exhaled by the lungs. It is used to diagnose COPD, asthma, and other respiratory conditions that affect breathing in patients. Additionally, it is used to periodically monitor the patient’s lung condition and check whether the treatment for his chronic lung condition is aiding in to breathe better.


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Technological Advancement in Products to Surge Demand

The increasing prevalence of chronic respiratory diseases is propelling the demand for advanced spirometer across the globe. Lung function tests are vital to evaluate the proper functioning of the lungs and the increasing technological advancements are enabling the companies to invest in the development of advanced diagnostic tools. Moreover, favorable government support is driving the start-ups to develop innovative spirometer devices.

This is expected to bode well for the growth of the global spirometry market during the forecast period. For instance, in January 2020, the U.S. Food and Drug Administration approved NuvoAir’s connected spirometry device for sale across the country. The portable device provides accurate indications of the prevalence of cystic fibrosis, asthma, and COPD in the patient. 

COVID-19 Leads to Disruption in Supply Chain of Medical Devices

The global pandemic has led to the unavailability of locally sourced raw materials and parts across the globe. This has largely impacted the supply of medical devices, especially from the distributors in China. In addition to this, the shutting down of several Pulmonary Functions Tests (PFTs) labs, and testing centers, among others in the affected areas are expected to impact the number of patients opting for chronic obstructive pulmonary disease (COPD) treatment. This is expected to hinder growth to some extent. However, safety guidelines issued by international healthcare organizations such as the American Thoracic Society to follow amid the COVID-19 are expected to increase the test volume measurement and the demand for spirometer in the near future.


Click here to get the short-term and long-term impact of COVID-19 on this Market.
Please visit: https://www.fortunebusinessinsights.com/industry-reports/spirometers-market-100486


North America to Remain Dominant; Presence of Established Players to Aid Growth
Among all the regions, the market in North America is expected to dominate and hold the largest global spirometry market share in terms of revenue during the forecast period. The North America market was valued at 252.6 million in 2019. This is attributable to the presence of established players that are focusing on developing advanced spirometer in countries such as the U.S. in the region.

Asia-Pacific is anticipated to showcase an exponential growth backed by the increasing number of companies entering the untapped Asian countries that presents lucrative business opportunities between 2020 and 2027.

Product Launches by Major Companies to Consolidate Their Market Positions

The market comprises of several major companies that are striving to maintain their stronghold by introducing advanced spirometer and expand their product portfolios. Additionally, the other key players are adopting strategies such as merger and acquisition, partnership, and collaboration to maintain their presence and gain a competitive edge over their rivals. This is further expected to bode well for the growth of the global spirometer market in the forthcoming years.


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Industry Development:

  • August 2020 – Queset Medical, Inc., a leading distributor of supplies for testing devices, announced the launch of its PFT Anti-Viral Filters range that complies for the guidance for spirometer testing during the novel coronavirus.

List of the Companies Operating in the Market:

  • ndd Medizintechnik AG (Zurich, Switzerland)
  • COSMED srl (Rome, Italy)
  • MGC Diagnostics Corporation (Minnesota, U.S)
  • Morgan Scientific (Massachusetts, U.S)
  • Chest M.I., Inc. (Tokyo, Japan)
  • VYAIRE (Illinois, U.S)
  • Ganshorn Medizin Electronic GmbH (Niederlauer, Germany)
  • Medical International Research (MIR) (Rome, Italy)
  • Other Players


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Table of Contents:

  • Introduction
    • Market Scope
    • Market Segmentation
    • Market Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Industry Developments - Mergers, Acquisitions, and Partnerships
    • Regulatory Scenario for Key Countries
    • New Product Launch
    • Statistics on Prevalence of Respiratory Disorders for Key Countries
    • Technological Advancements Pertaining to Spirometer
    • Impact of COVID-19 on the Spirometer Market
    • Telespirometry  - Qualitative and Quantitative Insights
  • Global Spirometer Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Product Type
      • Devices
      • Software
      • Accessories & Consumables
    • Market Analysis, Insights and Forecast – By Type
      • Volume Measurement
      • Peak Flow Meters
    • Market Analysis, Insights and Forecast – By Application
      • Chronic Obstructive Pulmonary Disorder (COPD)
      • Asthma
      • Others
    • Market Analysis, Insights and Forecast – By End User
      • Hospitals
      • Diagnostic Centers
      • Homecare Settings
      • Physician/Primary Care Offices or Clinics
      • Other Facilities
    • Market Analysis, Insights and Forecast – By Geography
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East & Africa
  • North America Spirometer Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Product Type
      • Devices
      • Software
      • Accessories & Consumables
    • Market Analysis, Insights and Forecast – By Type
      • Volume Measurement
      • Peak Flow Meters
    • Market Analysis, Insights and Forecast – By Application
      • Chronic Obstructive Pulmonary Disorder (COPD)
      • Asthma
      • Others
    • Market Analysis, Insights and Forecast – By End User
      • Hospitals
      • Diagnostic Centers
      • Homecare Settings
      • Physician/Primary Care Offices or Clinics
      • Other Facilities
    • Market Analysis, Insights and Forecast  – By Country
      • U.S.
        • By Type
          • Volume Measurement
          • Peak Flow Meters
      • Canada
        • By Type
          • Volume Measurement
          • Peak Flow Meters


TOC Continued….!


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Segments Covered in the Report

By Product Type

  • Devices
  • Software
  • Consumables & Accessories

By Type

  • Volume Measurement
  • Peak Flow Meters

By Application

  • COPD
  • Asthma
  • Others

By End User

  • Hospitals
  • Diagnostic Centers
  • Homecare Settings
  • Physician/Primary Care Offices or Clinics
  • Other Facilities


SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:

  • Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
  • Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
  • Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
  • Number of procedures and average price of procedures
  • Replacement rate and pricing of capital equipment
  • Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
  • Market & technological trends, new product developments, product pipeline.


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About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.


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