Spirometer Market Size to reach USD 716.8 Million [CAGR 4.7%] | Fortune Business Insights

Posted on Jul 21 2022 12:15 PM

"Spirometer Market CAGR Status, Size, Industry Share, Interaction, Revenues , Development Strategy, Key Players, Competitive Landscape, Dynamics, competitive share analysis, consumption by regions, business development"

The global “Spirometer Market” is expected to showcase an exponential growth by exhibiting a CAGR of 4.7% between 2020 and 2027. This is attributable to the increasing focus on technological advancement in spirometer owing to the rising prevalence of chronic respiratory diseases globally. Fortune Business Insights, in its latest report, titled, “Spirometer Market Size, Share & COVID-19 Impact Analysis, By Product Type (Devices, Software, Accessories & Consumables), By Type (Volume Measurement and Peak Flow Meters), By Application (Chronic Obstructive Pulmonary Disorder (COPD), Asthma, and Others), By End User (Hospitals, Diagnostic Centers, Homecare Settings, Physician/Primary Care Offices or Clinics, and Other Facilities), and Regional Forecast, 2020-2027,” observes that the market stood at USD 504.2 million in 2019 and is projected to reach USD 716.8 million by 2027.

Get Request a Sample Copy of the Spirometer Report:

https://www.fortunebusinessinsights.com/enquiry/sample/spirometers-market-100486

North America

United States, Canada and Mexico

Europe

Germany, UK, France, Italy, Russia and Turkey etc.

Asia-Pacific

China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam etc.

South America

Brazil, Argentina, Columbia etc.

Middle East & Africa

Saudi Arabia, UAE, Egypt, Nigeria and South Africa

 

Supply Chain Disruptions in Healthcare to Affect Market Dynamics     

The new coronavirus has had a significant impact on global healthcare market dynamics. The medical equipment supply chain around the world have been disrupted as a result of the pandemic. For example, some of the market's main participants are experiencing supply problems, particularly from Chinese wholesalers. On the other hand, due to a lack of locally sourced raw materials or parts, the production processes of some market participants have been hampered. For example, Vitalograph, a spirometry equipment maker located in Ireland, has had production challenges since some parts are sourced from China.   

Major Spirometer Market Key players covered in the report include:

  • ndd Medizintechnik AG (Zurich, Switzerland)
  • COSMED srl (Rome, Italy)
  • MGC Diagnostics Corporation (Minnesota, U.S)
  • Morgan Scientific (Massachusetts, U.S)
  • Chest M.I., Inc. (Tokyo, Japan)
  • VYAIRE (Illinois, U.S)
  • Ganshorn Medizin Electronic GmbH (Niederlauer, Germany)
  • Medical International Research (MIR) (Rome, Italy)
  • Other Players

Have Any Query? Ask Our Experts:

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/spirometers-market-100486

DRIVING FACTORS

Technological Advancement in Products to Surge Demand

The increasing prevalence of chronic respiratory diseases is propelling the demand for advanced spirometer across the globe. Lung function tests are vital to evaluate the proper functioning of the lungs and the increasing technological advancements are enabling the companies to invest in the development of advanced diagnostic tools. Moreover, favorable government support is driving the start-ups to develop innovative spirometer devices. This is expected to bode well for the growth of the global spirometry market during the forecast period. For instance, in January 2020, the U.S. Food and Drug Administration approved NuvoAir’s connected spirometry device for sale across the country. The portable device provides accurate indications of the prevalence of cystic fibrosis, asthma, and COPD in the patient.

COMPETITIVE LANDSCAPE

Product Launches by Major Companies to Consolidate Their Market Positions

The market comprises of several major companies that are striving to maintain their stronghold by introducing advanced spirometer and expand their product portfolios. Additionally, the other key players are adopting strategies such as merger and acquisition, partnership, and collaboration to maintain their presence and gain a competitive edge over their rivals. This is further expected to bode well for the growth of the global spirometer market in the forthcoming years.

Industry Development:

August 2020 – Queset Medical, Inc., a leading distributor of supplies for testing devices, announced the launch of its PFT Anti-Viral Filters range that complies for the guidance for spirometer testing during the novel coronavirus

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email: [email protected]