Spirometer Sales to Grow at 9.1% CAGR to Reach USD 2 Billion by 2030: Report
As per Future Market Insights (FMI) – an ESOMAR-certified market research firm, the global spirometer market will reach a valuation of nearly USD 2 billion by 2020, growing at 9.1% CAGR during the period.
A recent market study published by Future Market Insights (FMI) on the Spirometer Market i...
The number of people adversely affected by chronic respiratory diseases is increasing at a substantial rate as more than 2 Bn people are exposed to polluted air on regular basis. As such, diagnosing as well as monitoring respiratory diseases has become imperative in home settings and hospitals.
As of now, close to 30% of the pediatric hospitalizations are being attributed to asthma. It’s a known fact that environmental conditions are worsening day by day. As such, spirometry is being recommended by medical fraternities as an effective way of checking through respiratory health.
Also, developed economies like the US do have standard reimbursement policies in place. Some of them are exclusively meant for spirometry via Medicaid, third-party insurance, and Medicare. The revised Medicare Fee Schedule, 2018 let sizable amount (from healthcare) to be diverted to spirometry.
All the trends mentioned above are expected to give an impetus to the spirometer market in the forecast period.
- Table top spirometers hold the highest market share as they are broadly used in clinics, hospitals, and the other diagnostic centres
- Due to increasing preference for computer-based spirometry, desktop spirometers are expected to hit the market at the fastest pace in the forecast period
- Economies like India to play a pivotal role in the spirometer market between 2020 and 2030 due to an exponential increase in number of patients suffering from respiratory disorders (resulting out of air pollution. India is amongst the top polluted places across the globe)
Key Participant Insights
The global spirometer market is set to enhance its scope in the forecast period, due to rising number of COPDs and respiratory disorders. In addition to this, multi-purpose spirometers are doing the rounds. The entry of these spirometers is bound to take the market at the “new” normal level in the forecast period.
The key market players covered by FMI include nSpire Health Inc., Vitalograph Ltd., Ndd Medical Technologies Inc., Recorders & Medicare Systems Pvt Ltd., Welch Allyn Inc., Chest M.I. Inc., Minato Medical Science Co Ltd., Geratherm, Medset Medizintechnik GmbH, Medical International Research, Cosmed srl, Sibelmed, and Ganshorn Medizin Electronic.
“The heart- and respiration-related ailments are showing a steep increase at periodic intervals. This ongoing trend is expected to bolster the spirometer market in the forecast period” – says the FMI analyst.
Want more insights?
Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2030. The global spirometer market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on manual resuscitator market on the basis of product type (device (hand held, desktop, table-top), consumables and accessories, software), application (COPD, asthma, cystic fibrosis, pulmonary fibrosis), technology (flow sensor, peak flow meter, volume measurement), end-use (hospital, clinical laboratory, homecare) across seven major regions
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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