Pune, Sept. 18, 2020 (GLOBE NEWSWIRE) — The global spirometer market size 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.
A spirometer is a type of apparatus that is used to measure the volume of air inhaled and exhaled by the lungs. It is used to diagnose COPD, asthma, and other respiratory conditions that affect breathing in patients. Additionally, it is used to periodically monitor the patient’s lung condition and check whether the treatment for his chronic lung condition is aiding in to breathe better.
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/spirometers-market-100486
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaborations that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
COVID-19 Leads to Disruption in Supply Chain of Medical Devices
The global pandemic has led to the unavailability of locally sourced raw materials and parts across the globe. This has largely impacted the supply of medical devices, especially from the distributors in China. In addition to this, the shutting down of several Pulmonary Functions Tests (PFTs) labs, and testing centers, among others in the affected areas are expected to impact the number of patients opting for chronic obstructive pulmonary disease (COPD) treatment. This is expected to hinder growth to some extent. However, safety guidelines issued by international healthcare organizations such as the American Thoracic Society to follow amid the COVID-19 are expected to increase the test volume measurement and the demand for spirometer in the near future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
Please visit: https://www.fortunebusinessinsights.com/industry-reports/spirometers-market-100486
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.
Volume Measurement Segment to Remain at the Forefront Backed by Increasing Application for Diagnostic
The volume measurement segment, based on type, is expected to remain dominant owing to the increasing demand for volume measurement tests to detect respiratory diseases.
Quick Buy – Spirometer Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100486
North America to Remain Dominant; Presence of Established Players to Aid Growth
Among all the regions, the market in North America is expected to dominate and hold the largest global spirometry market share in terms of revenue during the forecast period. The North America market was valued at 252.6 million in 2019. This is attributable to the presence of established players that are focusing on developing advanced spirometer in countries such as the U.S. in the region.
Asia-Pacific is anticipated to showcase an exponential growth backed by the increasing number of companies entering the untapped Asian countries that presents lucrative business opportunities between 2020 and 2027.
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.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/spirometers-market-100486
- 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.
List of the Companies Operating in the Spirometer 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
Table of Contents:
- Market Scope
- Market Segmentation
- Market Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Mergers, Acquisitions, and Partnerships
- Regulatory Scenario for Key Countries
- New Product Launch
- Statistics on Prevalence of Respiratory Disorders for Key Countries
- Technological Advancements Pertaining to Spirometer
- Impact of COVID-19 on the Spirometer Market
- Telespirometry – Qualitative and Quantitative Insights
- Global Spirometer Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Accessories & Consumables
- Market Analysis, Insights and Forecast – By Type
- Volume Measurement
- Peak Flow Meters
- Market Analysis, Insights and Forecast – By Application
- Chronic Obstructive Pulmonary Disorder (COPD)
- Market Analysis, Insights and Forecast – By End User
- Diagnostic Centers
- Homecare Settings
- Physician/Primary Care Offices or Clinics
- Other Facilities
- Market Analysis, Insights and Forecast – By Geography
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/spirometers-market-100486
Have a Look at Related Reports:
Mass Spectrometer Market Share and Global Trend By Product (Hybrid, Single), By End-user (Biopharmaceutical and Pharmaceutical Companies, Research Institutes & Government Organization, Hospitals & Diagnostic Centers, Others (Environmental testing, food, and chemical testing)) and Geography Forecast till 2026
Dialysis Equipment Market Share and Global Trend By Dialysis Equipment Type (Hemodialysis Equipment, Peritoneal Dialysis Equipment), By End User (Dialysis Centers and Hospitals, Home Healthcare) and Geography Forecast till 2026
Telemedicine Market Share and Global Trend By Type (Products, Services), By Application (Teleradiology, Telepathology, Teledermatology, Telepsychiatry, Telecardiology, Others), By Modality (Store-and-forward (Asynchronous) , Real-time (Synchronous), Others) and Geography Forecast till 2026
Vitiligo Treatment Market Share and Global Trend By Treatment (Topical Treatment, Light Therapy, Surgical Procedures, Others), By Disease Type (Nonsegmental Vitiligo, Segmental Vitiligo), By End User (Hospitals, Aesthetic Clinics, Others) and Geography Forecast till 2026
Point of Care (POC) Diagnostics Market Share and Global Trend By Product (Blood Glucose Monitoring, Infectious Diseases, Cardiometabolic Diseases, Pregnancy and Fertility Testing Products, Hematology Testing Products, Others), By End User (Hospitals Bedside, Physician’s Office Lab, Urgent Care & Retail Clinics, Home and Self Testing) and Geography Forecast till 2026
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: [email protected]
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Press Release: https://www.fortunebusinessinsights.com/press-release/global-spirometer-market-10215