The global Spirometer Market size is expected to reach around USD 1.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 9.4% over the forecast period. Chronic respiratory diseases are rising among adults and children worldwide. Over 2 billion people are currently estimated to be exposed to air pollution on a regular basis, driving the incidence rate of respiratory disorders. Diagnosis and monitoring of respiratory diseases has become crucial in hospitals as well as home settings.
Around 230 million people are affected by asthma across the globe. In addition, around 30% of pediatric hospitalizations are attributed to asthma. Asthma and related respiratory disorders have been increasing due to worsening environmental conditions. Spirometry is an effective method to diagnose and monitor respiratory health. The American Thoracic Society and the European Respiratory Society have been proactively working on the standardization of spirometry measurements and global guidelines.
The developed countries such as U.S. have reimbursement policies dedicated for spirometry through Medicare, Medicaid, and third-party insurance. The national spirometry amounts were increased due to revised Medicare Fee Schedule, 2018.
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Further key findings from the report suggest:
- Steadfast increase in prevalence of Chronic Obtrusive Pulmonary Diseases (COPD) and adoption of technologically advanced diagnostic devices are some of the key drivers accountable for the growth of spirometers market across the globe
- In 2017, table top spirometers dominated the type segment in terms of revenue as they are widely used in hospitals, clinics, and other diagnostic centers
- Desktop spirometers are likely to witness the fastest growth in the coming years as the computer-based spirometry has become more popular among physicians as it reduces paperwork and offers automatic result interpretation
- Flow measurement spirometers dominated the technology segment in terms of revenue share in the year 2017. Peak flow measurement spirometers are anticipated to grow at the fastest rate over the forecast period
- Among applications, COPD held majority of the market share in 2017 pertaining to steep rise in cases of COPD across the globe. Whereas, asthma is expected to grow at the fastest rate in the years to come
- In the end use segment, hospitals and clinics held the largest market share in 2017 due to extensive use of spirometry in primary care settings. However, home healthcare is likely to experience impressive growth rate in the coming years
- North America dominated the market in terms of revenue share in 2017 as it has a large patient base with respiratory disorders. On the other hand, Asia Pacific is projected to showcase the fastest growth rate due to emerging economies such as China and India
- The market is witnessing developments of technologically advanced devices. In February 2015, Cohero Health, a U.S.-based company, received approval by the FDA for its hand held spirometer. This mobile spirometer is based on wireless technology and can be paired with computers, smart phones, and tablets for real-time monitoring and reporting
- Some of the key players in the spirometer market are Smiths Medical, Schiller AG, Nihon Kohden Corporation, and others.
Grand View Research has segmented the global spirometer market based on type, technology, application, end use, and region:
Spirometer Type Outlook (Revenue, USD Million, 2014 - 2025)
- Hand Held
- Table Top
- Desktop
Spirometer Technology Outlook (Revenue, USD Million, 2014 - 2025)
- Volume Measurement
- Flow Measurement
- Peak Flow Measurement
Spirometer Application Outlook (Revenue, USD Million, 2014 - 2025)
- Asthma
- COPD
- Cystic Fibrosis
- Pulmonary Fibrosis
- Others
Spirometer End Use Outlook (Revenue, USD Million, 2014 - 2025)
- Hospitals & Clinics
- Home Healthcare
Spirometer Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- US.
- Canada
- Europe
- UK.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
Browse Press Release of this Report: https://www.grandviewresearch.com/press-release/global-spirometer-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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