The Spirometer Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Spirometer Global Market Report 2024, The spirometer market size has grown strongly in recent years. It will grow from $1.15 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increased prevalence of respiratory diseases, growing emphasis on preventive healthcare, aging population demographic, clinical research and evidence-based practices..
The spirometer market size is expected to see strong growth in the next few years. It will grow to $1.63 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to shift towards home healthcare, continue clinical research, medical reimbursement policies, occupational health monitoring.. Major trends in the forecast period include remote monitoring and telemedicine, patient engagement and empowerment, digital health integration, personalized medicine and patient-centric care, market competition and innovation..
The increase in the prevalence of chronic respiratory diseases is expected to drive the demand for spirometer market going forward. Chronic respiratory diseases are chronic condition of the airways and other parts of the lung such as asthma, chronic obstructive pulmonary disease (COPD), lung cancer, cystic fibrosis, sleep apnea, and occupational lung diseases. Portable spirometers have been approved for diagnosing chronic obstructive pulmonary disease (COPD). For instance, in July 2022, according to the Australian Institute of Health and Welfare, the Australian-Government agency reported that one-third (30%) of Australians reported having chronic respiratory conditions. Of the estimated 7.5 million Australians with these conditions, 5.1 million (20% of the total population) had allergic rhinitis (‘hay fever’), 2.7 million (11% had asthma), and 2.0 million (8.0%) had chronic sinusitis (ABS 2022). Therefore, the increase in prevalence of chronic respiratory diseases is increasing demand for spirometer market.
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The spirometer market covered in this report is segmented –
1) By Type: Hand held, Table Top, Desktop
2) By Technology: Volume Measurement, Flow Measurement, Peak Flow Measurement
3) By Product: Device, Consumables and Accessories, Software
4) By Application: Asthma, COPD, Cystic Fibrous, Pulmonary Fibrosis, Other Applications
5) By End-Use: Hospitals and Clinics, Home Healthcare
Technological advancement is a key trend gaining popularity in the spirometer market. Major market players are concentrating their efforts on creating spirometers with innovative technologies like portable wireless spirometers to gain a competitive edge in the market. For instance, on November 2021, Cipla Ltd., an India-based pharmaceutical company, announced the launch of Spirofy, a pneumatic-based portable and wireless spirometer, on World COPD Day. Cipla’s Spirofy ensures high result accuracy and individual patient safety using bacterial viral filters (BVF). Spirofy is entirely wireless with good battery backup, making it suitable for use in outdoor camps, remote areas with power shortages, or simply providing physicians with flexibility and ease of use.
The spirometer market report table of contents includes:
1. Executive Summary
2. Spirometer Market Characteristics
3. Spirometer Market Trends And Strategies
4. Spirometer Market – Macro Economic Scenario
5. Global Spirometer Market Size and Growth
…
31. Global Spirometer Market Competitive Benchmarking
32. Global Spirometer Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Spirometer Market
34. Spirometer Market Future Outlook and Potential Analysis
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