The Rising Prevalence Of COPD To Boost Spirometer Market Growth

 

Spirometer Market

The Spirometer Market is Segmented by Type (Hand-Held, and Table-Top), Technology (Volume Measurement, and Flow Measurement), Application (Asthma, COPD, Cystic Fibrosis, and Others), End-User (Hospitals and Clinics, and Home Healthcare) and by Region (Europe, North America, Asia Pacific, Africa, Latin America and Middle East) - Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030

The global spirometer market is estimated to be valued at US$ 958.0 million in 2021 and is expected to exhibit a CAGR of 9.5% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.

Market Overview:

A Spirometer is a medical equipment that evaluates the quantity of air one is capable to inhale and exhale. It also traces the timespan it takes for the individual to breathe out completely post one is taking a deep breath. A spirometry test necessitates one to breathe into a catheter linked to a machine known as a spirometer.

Competitive Landscape:

Key Players involved in the growth of the global Spirometer Market are Koninklijke Philips N.V., MGC Diagnostics Corporation, KoKo PFT, NDD Medical Technologies and ICU Medical, Inc.

Market Key Drivers:

The rising prevalence of COPD is expected to augment the growth of global Spirometers Market. For instance, as per WHO, above 65 million suffer from COPD across the globe.

Technical developments and the rising convenience and convenience of operation of equipment are projected to boost the growth of the global Spirometer Market. For instance, in March 2021, the AioCare was launched by Vyaire Medical in above 15 countries, involving Australia and other regions.  

Covid-19 Impact Analysis:

The COVID-19 outbreak has adversely affected the growth of the global spirometer market as there was a decline in the analysis and cure of individuals suffering from respiratory disorders. For instance, as per Elsevier Public Health Emergency, in September 2021, it has been monitored that the usage of spirometry is limited to immunocompromised individuals for urgent therapeutics only, such as bone marrow grafts, lung implantation, and pre-chemotherapy therapeutics. 

Key Takeaways:

For instance, as per WHO, above 80% of the global 1.3 billion tobacco consumers live in low- and middle-income regions.

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the global spirometer market due to rise in cases of COPD, increasing asthma cases, increasing smokers and rising collaborations and partnerships. For instance, as per AAFA, in April 2022, around 1 in 13 Americans suffer from asthma, which is around 25 million people in U.S.