A Spirometer is a medical apparatus that is used to measure the volume of air that is inspired and expired by the lungs. It is used to perform the pulmonary function test (PFT) that observes the movement of air while getting in and out of the lungs. This information gives key insights into the functionality of the lungs.
This apparatus is used for diagnosing various respiratory conditions such as asthma, chronic obstructive pulmonary disease (COPD), etc., and conveniently monitors the lung diseases for evaluating ongoing treatment. It is generally combined with other findings, such as imaging tests, physical exams, and medical history reviews to reach a diagnosis.
Key Trends for Spirometer Market
The spirometer market is projected to witness substantial growth on account of its easy-to-use functionality, for both general and homecare practice. Rapidly growing cases of COPD globally are the major factor that drives the growth of the market. In addition to this, increasing investment by leading companies to invest in R&D activities to develop innovative and advancement spirometers complements the market growth.
Technological advancements, especially with the mechanism of the spirometer leads to product developments, which in turn positively influencing the market. A growing trend for receiving treatment at patients’ residence is among the key factors responsible for a huge surge in demand for such products.
Segmental Growth of the Spirometer Market
- The flow measurement technology segment accounted for the largest revenue share and is anticipated to add more to it in the near future, owing to its wide application scope in pulmonary function testing.
- The hospitals and clinics segment dominated the spirometer market and is expected to keep dominance in years to come. The segment’s growth is attributed to the increased use of spirometry in hospitals and clinics for monitoring and diagnosis of chronic respiratory disorders.
- COPD emerged as the fastest-growing segment and accounted for the major revenue share in the spirometer market. Increased cased of people struggling from mild to severe COPD worldwide contributes to the growth of the segment.
North America to Keep the Dominance over Spirometer Market
North America led the major growth of the spirometer market and is expected to dominate the market in the years to come. The regional growth is attributed to the rising prevalence of respiratory diseases and improving healthcare infrastructure. In addition to this, increasing cases of asthma and COPD resulted in a rise in demand for spirometer. North America is the earliest adopter of advanced technologies that helps to reduce COPD rates. All these factors contribute to the overall growth of the market in this region.
Competitive Outlook for Spirometer Market
The global market for spirometer is highly fragmented with the presence of well-established players and new market entrants. There are numerous respiratory device manufacturers as well as standalone manufacturers. The introduction of technological advancements will create lucrative opportunities for new market entrants. Some of the prominent players operating in the market include Geratherm Respiratory AG, Kohden Corporation, Koninklijke Philips N.V., Fukuda Sangyo Co. Ltd., Vitalograph, Welch Allyn, Vyaire Medical, Inc., and Schiller.
Deep-dive Insights on Spirometer Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/spirometer-market/request-for-sample