The global spirometer market is expected to grow at a CAGR of 11.1% through 2025 owing to technological advancements and the rise in respiratory diseases. They are used for diagnostic purposes in Chronic Obstructive Pulmonary Disease (COPD) and other respiratory diseases which is the major driver of the spirometer market. In addition to this, the rise in health care spending by emerging economies like Brazil, China and India spurs the growth of the market.
How the rise in respiratory diseases affect the global spirometer market?
The recent years have witnessed a rapid rise in the frequency of respiratory diseases which has caused the growth and expansion of the spirometer market. The growing Chronic Obstructive Pulmonary Disease (COPD) has boosted the respiratory market and encouraged companies to invest in the research and development to innovate techniques for spirometry diagnosis equipped with the latest technology. With the increase in the incidence of respiratory diseases, spirometer technology is in high demand and is expected to grow rapidly. This will be the major driver for the global spirometer market in the forecasted period.
What is the impact of COVID-19 on the spirometer market?
The COVID-19 pandemic caused an increase in the diagnosis requirements for respiratory diseases. COPD is one of the leading reasons for death under various respiratory diseases. The lockdown period has seen an increase in the cases of respiratory diseases. This led to the rise in the need for proper diagnosis technology to examine the patients and assess the infection. Many players have shifted their focus to the spirometer market to produce efficient diagnosis technology which causes the growth and development of the global spirometer market.
What are the factors of growth in the spirometer market?
Several developing countries like India, China and Brazil have announced an increase in their annual health care spending which will lead to the growth of the spirometer market. With the rise in funding for the health care sector,
more focus can be laid on the research and development (R&D) and the innovation of the latest spirometry technology. These emerging economies also have a significantly high amount of pollution withing their territories which causes lung damage and increase respiratory diseases. This will be one of the major factors for the growth of the spirometer market in the following years.
What are the major restraints to the global spirometer market?
Diagnosis strategies under the spirometry technology involve multiple tests and activities which are exhausting and might discourage the patient to continue the treatment. To begin the examination, the subject needs to blow into the mouthpiece for 5 to 10 seconds at maximum lung capacity. This step is repeated 3 to 4 times to ensure accurate results and prevent misdiagnosis which makes the whole process tiring and stressful. The inability of spirometry technology to provide a hassle-free diagnosis to patients is the major restraint to the global spirometer market.
What is the regional distribution of the spirometer market?
North America dominates the global spirometer market, in terms of revenue, followed by the Asia Pacific and the rest of the regions in the world. The presence of the latest technology, high spending in the health care sector and rise in respiratory diseases in these regions are the main reasons spurring the growth of the spirometer market. The Asia Pacific segment of the market consists of emerging economies facing high pollution problems and less developed health facilities. The government is planning and working to uplift the conditions but, in the meantime, this has caused the rise in COPD fuelling the growth and development of the global spirometer market.
What is the current competitive landscape of the global spirometer market?
The key market players have deduced the major drivers of the market and are focussing on innovation of latest spirometry technology to aid the growth of the market and attain a competitive edge over other businesses in the region. They are thriving to boost the drivers and loose the restraints on the spirometer market to ensure effective results to patients worldwide.
The major companies in the global spirometer market are Hill Rom Inc., Midmark Corp. Futuremed, COSMED, MGC Diagnostics Corporation, Vyaire Medical, Medical International Research, Vitalograph, Schiller AG, Jones Medical Instrument Company, Sibelmed, MIR, Recorders and Medicare Systems, Smiths Medical, Medline, Teleflex, CONTEC, Fysiomed, Medikro, Sdi Diagnostics, FUKUDA SANGYO Co. Ltd., Clarity Medical, and Guangzhou Medsinglong Medical Equipment Co., Ltd.
The global spirometer market is expected to grow and expand in the coming years due to the rise in respiratory disease and support from emerging economies. The focus of major companies is focussing from conventional strategies to innovation and the development of the latest technology to produce efficient results for customers all over the world.