NEWARK, Del, March 28, 2023 (GLOBE NEWSWIRE) -- The global spirometer market size is set to reach US$ 616 million in 2023. Overall sales of spirometer are likely to surge at 5.4% CAGR, taking the forecasted market valuation to US$ 1042.3 million by the end of 2033.
There are 30 leading causes of death in the world, and five of the top 30 are respiratory diseases. Chronic obstructive pulmonary disease (COPD) is the third leading cause of death. A lot can be done to treat these diseases if they are found and diagnosed early. Spirometry is a key piece of technology in this area. It helps doctors figure out how bad an infection is and avoid making the wrong diagnosis. So, since these kinds of respiratory diseases are becoming more common, the spirometers market is likely to grow. The body's vital organs and processes work less well as we get older.
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Manufacturers in the spirometry devices market have a lot of chances to make money in emerging economies like India, Brazil, China, and South Africa. India has 14 of the top 20 most polluted cities in the world. In these countries, very few people use spirometers to check on their lung health.
A spirometry test is done by blowing as hard as you can into the mouthpiece for six seconds. To make sure that test results are correct, a patient must take the test three times and then take a repeatability test. This makes the test take longer and harder, and it may also make it harder for the patient to come back for more tests.
Key Takeaways
The global spirometer market is expected to witness significant growth over the forecast period due to increasing prevalence of respiratory diseases and technological advancements.
The handheld spirometers segment is expected to dominate the market in terms of revenue share owing to their portability and ease of use.
The homecare settings segment is expected to witness significant growth due to increasing demand for convenient and cost-effective respiratory monitoring solutions.
North America is expected to hold the largest market share due to the presence of a large patient pool and advanced healthcare infrastructure.
The Asia Pacific region is expected to witness the highest growth rate due to increasing awareness regarding respiratory diseases and rising healthcare expenditure.
Key players in the market are focusing on product development and strategic partnerships to strengthen their market position.
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Competitive Landscape
The competitive landscape in the spirometer market is highly fragmented, with many domestic and international players competing for market share. The market is dominated by local players, such as Jiangsu Yuyue Medical Equipment & Supply Co., Ltd., Beijing Contec Medical Systems Co., Ltd., and Wuhan HNC Technology Co., Ltd., which have a strong presence and brand recognition in the market. However, international players, such as Schiller AG, CareFusion (a subsidiary of Becton, Dickinson and Company), and Fukuda Denshi Co., Ltd., also have a significant presence in the market, and are competing for market share.
In recent years, the startup ecosystem in the market has been growing rapidly, with several new entrants entering the market with innovative and disruptive products. These startups are leveraging technologies such as artificial intelligence (AI), machine learning (ML), and cloud computing to develop new and advanced spirometry devices that offer superior accuracy, reliability, and ease of use.
Key Segments
Product Type:
- Device (Handheld, Desktop, Table-top)
- Consumables And Accessories
- Software
Application:
- Copd
- Asthma
- Cystic Fibrosis
- Pulmonary Fibrosis
Technology:
- Flow Sensor
- Peak Flow Meter
- Volume Measurement
- End-Use:
- Hospital
- Clinical Laboratory
- Homecare
Geography:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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Table of Content
1. Executive Summary | Spirometer Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
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