"We Envision Growth Strategies Most Suited
to Your Business"
The global spirometer market size stood at USD 583.2 million in 2022. The market value is slated to rise from USD 613.3 million in 2023 to USD 891.5 million by 2030 at a CAGR of 5.5% during 2023-2030.
Fortune Business Insights™ presents this information in its report, titled “Spirometer Market Size, Share & COVID-19 Impact Analysis, By Product Type (Devices, Software, and 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, 2023-2030”. A spirometer is a diagnostic tool utilized for the measurement of air volume inhaled and exhaled by the lungs. The market expansion can be credited to the rising investments by industry players in launching technologically advanced software and devices to increase the demand for these products.
Halt in Supply Chain of Medical Devices Impeded the Market Growth
The COVID-19 pandemic influenced the market negatively, owing to a decrease in the diagnosis and treatment of respiratory diseases. The pandemic also led to disruptions in the supply chain of medical devices across the globe. In addition, the shortage of locally sourced raw materials or parts influenced a few players.
Cipla Launched Spirofy to Emerge as the Lung Leader in India
In November 2021, Cipla Inc. announced the launch of Spirofy, a pnemotech-based portable and wireless spirometer for diagnosis of COPD in India. Through this move, the company intended to revolutionize the diagnosis of COPD and become the lung leader in India.
Market Value to Grow Owing to Surging Incidence of COPD
The spirometer market growth is driven by the rising number of cases of COPD. Tobacco smoking is a significant risk factor for COPD. Moreover, environmental exposures, including exposure to biomass fuel and air pollution, may also lead to severe health hazards.
Despite an expanding scope for the adoption of the product, the shortage of skilled professionals may affect its adoption, hindering the market growth.
Top Players Emphasize Partnership Strategies to Boost Their Industry Presence
The top players in the market are adopting strategies such as mergers and acquisitions, product innovations, and other strategies to outshine the competition. Partnership strategies are also being adopted by many players to maximize their revenue and gain a competitive edge.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/industry-reports/spirometers-market-100486
Key Players
Key Industry Development
August 2022: AstraZeneca India unveiled a partnership with Alveofit, a SaaS-IoT-based respiratory healthcare platform. This deal focuses on providing IoT-based handheld products at hospitals across India.
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 5.5% from 2023 to 2030 |
Unit | Value (USD Million) |
Segmentation | By Product Type
|
By Type
| |
By Application
| |
By End User
| |
By Region
|