Spirometer Market Development And Future Trends
Summary
- Major factors influencing the growth of the market.
- Leading players & Growth Strategies.
- Geographic Overview.
Market growth influenced due to following factors-
- Rising global incidence of respiratory diseases.
- Increasing aging population.
- Technological shift in spirometer devices towards smartphone-based data acquisition.
Global market size-
According to the new market research report Spirometer Market is projected to reach $1,285 million by 2025, at a CAGR of 11.1%.
Leading Players & Growth Strategies -
The spirometer market isconsolidated in nature. 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).
Vyaire Medical is a pioneer in the spirometer market. As a result, it has a strong foothold in the spirometer devices market. The company was formed by a partnership between BD and Apax Fund Partners, when BD divested its respiratory care business. Apax Fund Partners took over the complete holdings of Vyaire Medical in 2019. Vyaire Medical has a global distribution network and has a good brand reputation among end users.
Hill-Rom is the largest player in the spirometer market. The company focuses on the development of devices, consumables, accessories, and software required to perform spirometer tests. These products are sold under the brand Welch Allyn. The company also invests a significant amount on research and development activities.
For More Details, Download PDF Brochure
Geographic Overview -
The global spirometer market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World (RoW). The market for North America accounted for the highest share in 2019. The large share of this market segment can be attributed to the increasing incidence of chronic respiratory diseases and the rising adoption of technologically advanced devices in the region.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.