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Spirometer Market to Reach USD 716.8 Million by 2027; Steered by Increasing Prevalence of Chronic Obstructive Pulmonary Disease (COPD)

September 16, 2020 | Healthcare

The global spirometer market size is expected to experience a considerable growth by reaching USD 716.8 million by 2027. This is attributable to the increasing prevalence of chronic obstructive pulmonary disease (COPD) that is propelling the demand for advanced spirometer across the globe. This information is published by 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.” The report further mentions that the market generated a revenue of USD 504.2 million in 2019 and is likely to exhibit a CAGR of 4.7% between 2020 and 2027.


AireHealth Inc. Merges with BreathResearch to Expand its Product Portfolio


In June 2020, AireHealth Inc, a digital health solutions provider, announced its merger with BreathResearch, a leading respiratory healthcare company. The move is expected to revolutionize care for over 100 million patients that suffer from chronic respiratory diseases globally. In addition to this, the combined companies will operate as AireHealth, while addressing the rising challenges owing to the respiratory illness that results in cost incurred over USD 130 billion annually and causes 49.2 deaths per 100,000 people across the globe.


Stacie Ruth, CEO of AireHealth, says, “We have planned to accelerate our journey into respiratory digital therapeutics by announcing the acquisition of a company that aids in saving lungs and lives, and we perceive BreathResearch as that company.” Such initiatives are expected to contribute to the growth of the global market in the forthcoming years.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/spirometers-market-100486


Increasing Prevalence of Chronic Obstructive Pulmonary Disease to Surge Demand


Chronic obstructive pulmonary disease (COPD) is a type of chronic inflammatory lung disease that obstructs airflow from the lungs. According to the National Heart, Lung, and Blood Institute, COPD is the leading cause of deaths owing to respiratory illness that affects around 16 million Americans every year. The increasing prevalence of COPD is driving the demand for advanced spirometer devices across the globe. The growing investment by the government to develop effective devices to manage and diagnose respiratory illness is further anticipated to contribute to the global spirometry market growth during the forecast period.


Merger and Acquisitions by Major Companies to Strengthen Their Market Positions


The global spirometer market is consolidated by the presence of major companies such as COSMED srl and ndd Medizintechnik AG. These established companies are acquiring other companies with an aim to expand their spirometer devices portfolio and strengthen their positions in the highly competitive global marketplace. The other key players such as Morgan Scientific, SCHILLER, and MGC Diagnostic, among others are adopting strategies such as collaboration and partnership to maintain their presence that is further anticipated to bode well for the growth of the market in the forthcoming years.


Industry Development:



  • July 2020 - ndd Medizintechnik AG, a leading healthcare solutions provider, introduced new single patient-use, inline filters for its advanced lung function testing devices in the wake of the growing demand for safety amid COVID-19. This is expected to boost the spirometer devices sales for the company in the competitive global marketplace.


List of the Companies Profiled in the Global Market:



  • 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


Further Report Findings:



  • North America is expected to hold the highest position in the global spirometry market in the forthcoming years. The market stood at USD 252.6 million in 2019. This dominance is attributable to the increasing prevalence of respiratory diseases such as asthma and chronic obstructive pulmonary disorder. The presence of established players such as Morgan Scientific that are developing advanced spirometer is further expected to drive the global market growth between 2020 and 2027.

  • The market in Asia-Pacific is expected to experience a significant growth owing to the increasing focus of companies to enter the untapped Asian economy that presents a lucrative opportunity for the growth of the market during the forecast period.

  • The chronic obstructive pulmonary disorder (COPD) segment, based on application, is expected to showcase an exponential growth in the forthcoming years. This is ascribable to the increasing prevalence of respiratory diseases and pulmonary infection among patients that is driving the demand for effective spirometer for testing procedures across the globe.


Table of Segmentation:






















































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Million)



Segmentation



  Product Type; Type; Application; End User; and Geography



By Product Type


 




  • Devices

  • Software

  • Consumables & Accessories



By Type


 




  • Volume Measurement

  • Peak Flow Meters



By Application


 




  • COPD

  • Asthma

  • Others



By End User


 




  • Hospitals

  • Diagnostic Centers

  • Homecare Settings

  • Physician/Primary Care Offices or Clinics

  • Other Facilities



By Geography


 




  • North America

    • By Product Type

    • By Type

    • By Application

    • By End User

    • By Country

      • USA

        • By Type



      • Canada

        • By Type









  • Europe

    • By Product Type

    • By Type

    • By Application

    • By End User

    • By Country

      • UK

        • By Type



      • Germany

        • By Type



      • France

        • By Type



      • Italy

        • By Type



      • Spain

        • By Type



      • Scandinavia

        • By Type



      • Rest of Europe

        • By Type









  • Asia Pacific

    • By Product Type

    • By Type

    • By Application

    • By End User

    • By Country

      • Japan

        • By Type



      • China

        • By Type



      • India

        • By Type



      • Australia

        • By Type



      • Southeast Asia

        • By Type



      • Rest of Asia Pacific

        • By Type









  • Latin America

    • By Product Type

    • By Type

    • By Application

    • By End User

    • By Country

      • Brazil

        • By Type



      • Mexico

        • By Type



      • Rest of Latin America

        • By Type







  • Middle East & Africa

    • By Product Type

    • By Type

    • By Application

    • By End User

    • By Country

      • GCC

        • By Type



      • South Africa

        • By Type



      • Rest of MEA

        • By Type








Global Spirometer Market
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  • 2019
  • 2016-2018
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