Spirometer Market Size to Raise by $1.47 Billion by 2027, At a CAGR of 3.5% CAGR
19 Aug 2021
Increase in incidences of respiratory diseases, technological advancements in spirometers, and growth in geriatric population drive the global spirometer market. By application, the COPD segment held the major share in 2019. By region, on the other hand, Asia-Pacific would register the fastest CAGR by 2027.
Increase in incidences of respiratory diseases, technological advancements in spirometers, and growth in geriatric population drive the global Spirometer Market. On the other hand, lack of awareness regarding respiratory diseases and availability of substitutes for spirometer impede the market growth. However, growing preference for home healthcare and impact of covid-19 on the market create new opportunities in the coming years.
The global spirometer market was estimated at $1.07 billion in 2019 and is expected to hit $1.47 billion by 2027, registering a CAGR of 3.5% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Covid-19 Scenario
The outbreak of the pandemic has given way to augmented demand for medical devices such as spirometers that treat respiratory diseases and chronic obstructive pulmonary disease (COPD).
Also, the key market players are now supporting the health systems and healthcare professionals proactively.
The global spirometer market is analyzed across type, technology, application, end-user, and region. Based on type, the table top segment accounted for nearly four-fifths of the total market share in 2019, and is expected to dominate by 2027. At the same time, the handheld segment is expected to portray the fastest CAGR of 4.1% from 2020 to 2027.
Based on application, the COPD segment garnered the major share in 2019, generating nearly three-fifths of the global spirometer market. Simultaneously, the asthma segment would exhibit the fastest CAGR of 4.0% from 2020 to 2027.
Based on region, North America garnered the major share in 2019, garnering nearly two-fifths of the global spirometer market in terms of revenue, and is expected to retain its dominance by 2027. The Asia-Pacific region, on the other hand, would cite the fastest CAGR of 4.2% throughout the forecast period.
The key market players analyzed in the global spirometer market report include Hill-Rom, Inc., Midmark Corp., Vitalograph, NSPIRE HEALTH INC., COSMED srl, MGC Diagnostics Corporation, SCHILLER, Smiths Medical, Vyaire Medical, and Teleflex. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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