“Spirometry equipment market to register a CAGR of 9.8% from 2018 to 2023”
The spirometry equipment market is projected to reach USD 1,047 million by 2023 from USD 655 million in 2018, at a CAGR of 9.8% during the forecast period. The rising global incidence of chronic respiratory diseases, increasing global aging population, and technological shifts in spirometer devices toward smartphone-based data connectivity and analysis are factors expected to drive market growth during the forecast period. Emerging economies with growing industrialization are also expected to provide opportunities for the growth of the market.
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“Consumables & accessories accounted for a significant share of the market in 2018”
By product, the spirometry equipment market is segmented into consumables & accessories, devices, and software. The devices segment is further categorized into PC-based, portable, and table-top spirometer devices. In 2018, the consumables & accessories segment accounted for the largest market share. This segment is also expected to grow at the highest CAGR during the forecast period. The rising incidence of chronic respiratory diseases and technological advancements are driving the growth of this product segment.
“COPD segment accounted for the largest share of the spirometry equipment market in 2018”
On the basis of application, the spirometry equipment market is segmented into COPD, asthma, and other applications. In 2018, the COPD segment accounted for the largest share of the spirometry equipment market. The large share of this segment can be attributed to the rising global prevalence of respiratory diseases and the increasing global aging population.
“North America dominated the spirometry equipment market in 2018”
North America, which includes the US, Canada, and Mexico, accounted for the largest share of the spirometry equipment market. The large share of this market segment can be attributed to the increasing incidence of chronic respiratory diseases in this region. In addition to this, the increasing aging population is also driving the growth of this market.
Breakdown of supply-side primary interviews, by company type, designation, and region:
- By Company Type: Tier 1 (20%) , Tier 2 (45%), and Tier 3 (35%)
- By Designation: C-level (30%), Director-level (20%), and Others (50%)
- By Region: North America (35%), Europe (24%), Asia (25%), and RoW (16%)
The major players operating in this market are Hill-Rom (US), Vyaire Medical (US), Fukuda Sangyo (Japan), Chest MI (Japan), Schiller AG (Switzerland), MGC Diagnostics (US), Medical International Research (Italy), NDD Medical Technologies (Switzerland), Vitalograph (UK), and MidMark Corporation (US).
- This report studies the spirometry equipment market based on product, mechanism, application, end user, and region.
- The report also analyzes factors (such as drivers, opportunities, and challenges) affecting market growth. It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.
- The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total spirometry equipment market. The report forecasts the revenue of the market segments with respect to four major regions.
Reasons To Buy the Report:
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on spirometer products offered by the top 10 players in the spirometry equipment market. The report analyzes the spirometry equipment market by product, mechanism, end user, application, and region
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various spirometers across key geographic regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the spirometry equipment market
- Competitive Assessment: In-depth assessment of market shares and strategies of the leading players in the spirometry equipment market