Global Spirometer Market Size to Exceed USD 3.2 Billion by 2032 | CAGR Of 11.2%

Global Spirometer Market Size to Exceed USD 3.2 Billion by 2032   

According to a research report published by Spherical Insights & Consulting, the Spirometer Market Size is to grow from USD 1.1 Billion in 2022 to 3.2 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 11.2% during the projected period. An increase in the number of regulations encouraging the use of spirometer devices, as well as an increase in research funding in developing countries, are expected to provide lucrative opportunities for the spirometer market in the future.

Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on "Global Spirometer Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Devices, Software, Accessories & Consumables), By Type (Volume Measurement, Peak Flow Meters), By Application (Chronic Obstructive Pulmonary Disorder (COPD), Asthma, Others), By End-User (Hospitals, Diagnostic Centers, Homecare Settings, Physician/Primary Care Offices or Clinics, Other Facilities) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032". Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/spirometer-market

Spirometry is an ordinary test that determines how well an individual's lungs work by measuring how much air they inhale and expel. It aids in the identification of respiratory illnesses such as asthma, chronic obstructive pulmonary disease (COPD), and others. The test uses a spirometer to assess lung condition and determine whether or not a chronic lung condition treatment is effective. Furthermore, governmental and private sectors are collaborating to develop devices for controlling and diagnosing respiratory illnesses such as COPD and asthma. Furthermore, industry participants are aggressively investing in the introduction of technologically upgraded gadgets and software to fuel the growth of the spirometer market. Chronic obstructive pulmonary disease (COPD) is the third greatest cause of death. Certain illnesses can be treated more effectively if they are detected and diagnosed early. In this context, spirometry is a useful instrument since it helps to understand the severity of the infection and avoids misdiagnosis. The spirometer market is likely to expand throughout the forecast period as the prevalence of such respiratory illnesses rises. However, despite the worldwide prevalence of asthma and COPD, certain factors limit their use. A lack of skilled labor to conduct diagnostic tests is expected to limit market growth.

COVID-19 Impact

The COVID-19 outbreak had a negative impact on the global market because of a decrease in the diagnosis and treatment of respiratory diseases. Furthermore, the majority of pulmonary function tests (PFTs) labs and testing centers in potentially affected areas were closed. The pandemic also disrupted the global supply chain for medical devices.

The device segment is expected to hold the largest share of the global spirometer market during the forecast period.

Based on the product type, the global spirometer market is classified into devices, software, accessories & consumables. Among these, the device segment is expected to hold the largest share of the spirometer market during the forecast period. The global market is experiencing significant technological advancements with the goal of improving testing capabilities, which has resulted in an increase in demand for advanced equipment. Furthermore, start-ups and major players began investing in the industry to develop devices for effective management of respiratory disorders, resulting in spirometer market growth

The peak flow meters segment is witnessing significant CAGR growth over the forecast period.

Based on the type, the spirometer market is segmented into volume measurement and peak flow meters. Among these, the peak flow meters segment is dominating the market with the largest revenue share over the forecast period. The device dominance is due to its ability to produce accurate results while remaining user-friendly. The volume measurement sector is expected to grow at a faster CAGR than peak flow meters over the forecast period, owing to the increasing use of the devices in asthma, cystic fibrosis, and other diseases.

The chronic obstructive pulmonary disorder (COPD) segment is witnessing significant CAGR growth over the forecast period

Based on application, the global spirometer market is segmented into chronic obstructive pulmonary disorder (COPD), asthma, and others. Among these, the chronic obstructive pulmonary disorder (COPD) segment is witnessing significant CAGR growth over the forecast period owing to the increasing incidence of pulmonary infection among patients. These devices are currently being tested in laboratories to determine whether they could be used to treat cystic fibrosis and other respiratory illnesses. This factor is expected to contribute to the expansion of the others section during the projection period.

The hospitals segment is witnessing significant CAGR growth over the forecast period.

Based on end-users, the global spirometer market is segmented into hospitals, diagnostic centers, homecare settings, physician/primary care offices or clinics, and other facilities. Among these, the hospitals segment is witnessing significant CAGR growth over the forecast period. Rising healthcare costs led to in the development of improved pulmonary function testing instruments, which have contributed to the segment growth during the forecast period.

North America dominates the market with the largest market share over the forecast period.

North America is dominating the market share over the forecast period, owing to the growing prevalence of chronic respiratory disorders in the region, as well as the increasing acceptance of technologically advanced equipment, can be linked to the region's significant share of this market segment. The rising prevalence of COPD, asthma, and other respiratory illnesses can be attributed to this region's dominance. This has put additional financial crisis on the healthcare system, prompting the development of precision equipment to address the issue. The disease is putting a significant strain on the healthcare system. The disease's prevalence is expected to drive up demand for diagnostic devices.

The increasing number of firms entering unexplored Asian economies, the Asia Pacific market is expected to grow at a significant CAGR during the forecast period. Furthermore, market participants in this region are investing significantly which is expected to drive spirometer market growth.

Major vendors in the Global Spirometer market include Medical International Research (MIR), Morgan Scientific, COSMED srl, Ganshorn Medizin Electronic GmbH, ndd Medizintechnik AG, VYAIRE, MGC Diagnostics Corporation, nSpire Health Inc., Welch Allyn, Sibelmed, Schiller, SDI Diagnostics, Smiths Medical and among others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In January 2023, CAIRE Inc., a subsidiary of NGK SPARK PLUG CO., LTD., has acquired MGC Diagnostics Holdings, Inc. (MGC) to expand its portfolio of non-invasive cardiorespiratory diagnostics systems. MGC offers a diverse range of products, including pulmonary function testing systems, cardiopulmonary exercise systems, spirometers, flow sensors, gas analyzers, and associated consumables.

• In March 2023, Clario collaborated with technology startup ArtiQ to integrate its artificial intelligence (AI) into clinical trial data collection for spirometry.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global spirometer market based on the below-mentioned segments:

Spirometer Market, Product Type Analysis

• Devices
• Software
• Accessories & Consumables

Spirometer Market, Type Analysis

• Volume Measurement
• Peak Flow Meters

Spirometer Market, Application Analysis

• Chronic Obstructive Pulmonary Disorder (COPD)
• Asthma
• Others

Spirometer Market, End-User Analysis

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

 Spirometer Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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