Spirometers Market worth USD 997 million by 2023

Spirometers Market Analysis Size, Growth rate and Overview:

Spirometers Market was valued at USD 624 million in 2018 and is expected to reach almost USD 997 million by the end of 2023, growing at a CAGR of around 9.7% over the predicted period.

A spirometer is an instrument used to measure the air breathed into and exhaled out of the lungs. It provides a simple way of measuring lung volume and capacity and is practiced in pulmonary tests. It helps in diagnosing respiratory diseases (such as asthma, bronchitis, and COPD), shortness of breath, exposure to chemicals at work, lung function before surgery, an effect of medication, and progress in disease treatment.

Most spirometers depict a volume-time graph and a flow volume graph, which assist in examining a patient’s pulmonary functions. The application of spirometers has become comfortable with the help of technological advancements in the field of respiratory care devices. Key factors influencing the growth of the business in the U.S. and Europe are policies mandating the use of respiratory devices and awareness of respiratory diseases and their symptoms. The rise in prevalence of chronic obstructive pulmonary disease (COPD), technological advancements in the field of spirometers, and the growing favorite for home healthcare is driving the spirometers market.

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Spirometers Market Key Drivers, Challenges, and Opportunities:

The growing aging population, rising incidences of chronic obtrusive pulmonary diseases (COPD), technological advancements in the field of respiratory pressure devices, and tight budgets of healthcare institutions are major factors pushing the growth of the spirometer market. Along with this, high rates of respiratory diseases, government initiatives, a rise in the number of smokers, increasing focus on monitoring respiratory illnesses, home use of spirometers, and increasing awareness regarding sophisticated diagnostic techniques are new factors propelling its market growth.

In contrast to this, economic downturn, lack of awareness concerning respiratory diseases and related symptoms, and issues related to reimbursement are some of the important factors restraining the growth of the global spirometer market.

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Spirometers Market – Regional Presence:

North America dominates the world spirometers market, as it has a large patient home with respiratory disorders. The region is also seen to be an early adopter of technology, and there is an increasing number of people in the United States who suffer from asthma and other respiratory diseases. European countries, such as France and Italy, are likely to witness significant growth rate over the projected period. The Asia-Pacific market for spirometers is expected to witness the fastest growth in the coming years, due to the increasing geriatric population in Japan and China.

Some of the Key Players Profiled in this Spirometers Market Report are:

Jones Medical Instrument Company, MGC Diagnostics Corporation, NDD Medical Technologies, SIBELMED, Smiths Medical,  nSpire Health Inc., Philips Healthcare, SIBELMED, Smiths Medical, Vitalograph, Vyaire Medical Inc., and Welch Allyn.

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