The global spirometer market size is expected to reach USD 1.92 billion by 2028 according to a new study by Report Ocean. The report “Spirometer Market; Global opportunity analysis and industry forecast 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The prominent factors responsible for the market growth for spirometer include an increase in the prevalence of respiratory diseases, increasing risk of occupational hazards, technology innovation, and favorable government initiatives. Moreover, the aging population also favoring the adoption of spirometers across the globe. For instance, according to estimates of the World Ageing (WA), in 2019, reported around 700 million individuals aged 65 years and above, across the globe. Thus, this large section of the population is contributing to the market growth for spirometers.
Over the past few years, it is observed that there is a strong inclination towards home healthcare. The innovations in telemedicine and other government-sponsored digital initiatives have propelled the adoption of home-based care. The idea of providing a treatment option for the amputees and old age population at their location has boosted the adoption of the spirometer. This has led to the development of tele-spirometers, to cater population which cannot afford costly medical treatments.
With the ongoing pandemic of COVID-19, to contain the outbreak there was nationwide lockdown across the globe and all the out-patient facilities and non-emergency medical settings were shut down. Now, most of the countries have eased the restrictions and re-opening of healthcare facilities. This has enabled the rapid uptake of telemedicine services in the market, particularly in emerging and remote locations.
The market players in the spirometer industry are depending on partnerships and agreements to retain their market dominance. For instance, in January 2020, Swedish firm, NuvoAir signed a partnership agreement with Roche’s subsidiary in Italy. According to the terms of the agreement, Roche will distribute the latter’s respiratory technology for cystic fibrosis in the market across the country. Such agreement is expected to intensify competition among market players in the spirometer industry.
Segmentation:
Spirometer, Type Outlook (Revenue – USD Million, 2016 – 2028)
Spirometer, Technology Outlook (Revenue – USD Million, 2016 – 2028)
Spirometer, Application Outlook (Revenue – USD Million, 2016 – 2028)
Spirometer, End-Use Outlook (Revenue – USD Million, 2016 – 2028)
Spirometer, Regional Outlook (Revenue – USD Million, 2016 – 2028)
