Global Spirometer Market to amass $1070 Mn by 2024

October 03, 2019

According to the latest study titled ‘Global Spirometer Market Growth 2019-2024’ available with Market Study Report LLC, the global spirometer market is estimated to accumulate US $1070 million by the year 2024.

Spirometer is a device used to gauge lung functions by measuring the amount of air that a patient blows out of his lungs. Usually, a primary care physician performs spirometry on a patient if symptoms such as chest tightness, troubled breathing, wheezing or shortness of breath are present. Advancement in technology, rising trend of smoking, increasing incidences of asthma and chronic obtrusive pulmonary diseases (COPD), and surging geriatric population are the main factors driving the spirometer market growth.

According to the study, the worldwide spirometer market was valued at US $580 million in 2019 and is expected to register 10.7% CAGR over the forecast period. Moreover, the global market revenue in 2016 was US $532 million and actual production was 750,000 units.

The study analyzes global spirometer market for industry shares and growth opportunities by different segments. Furthermore, it provides an exhaustive understanding of trends, challenges, marketing strategies, distribution channels, consumer spectrum, and drivers influencing the market growth.

Based on type, table-top spirometer segment led the market with 58.4% share in 2016, owing to its widespread use across hospitals and clinics. Other segments, hand-held spirometer is presumed to grow, pertaining to its user-friendly operability and usage in homecare settings. While desktop spirometer finds applicability in the diagnosis of TB, COPD, and other respiratory diseases.

Speaking of application spectrum, spirometer market is segmented as hospital, homecare, and clinic, wherein, hospital segment held 48.6% share in 2016.

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Considering the geographical landscape, spirometer market is fragmented into four major regions as Europe, Americas, Middle East & Africa, and the Asia Pacific. North America dominated the spirometer industry with 60% revenue share and 37.1% consumption share in 2016.

The key players of spirometer market outlined in the report comprise of Schiller, BD (CareFusion), CHEST. MI., Welch Allyn, Vitalograph, MIR, Futuremed, MGC, NDD, Fukuda Sangyo, SDI Diagnostics, Cosmed, Geratherm, Medikro, Contec, and Anhui Electronics Scientific Institute.

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