Global outlook for the spirometer market
A spirometer is a medical apparatus used to measure the volume of air inspired and expired by the lungs. The device produces a spirogram, which is a graphic record of the ventilation patterns of the lungs. They are widely used for conducting the basic lung function tests to detect respiratory disorders like asthma, bronchitis, and emphysema. Increasing awareness and early diagnosis of chronic and other respiratory disorders can help reduce the severity of such diseases and also prevent them in some cases. Moreover, healthcare facilities, organizations, and authorities worldwide have launched campaigns and programs to improve the preventive measures for COPD over the past few years. For example, in 2014, Bayern Healthcare collaborated with the Pulmonary Hypertension Association to run a campaign called Breathless Moments during the pulmonary hypertension awareness month. Such initiatives are anticipated to increase awareness among patients and will, in turn, translate into the demand for spirometers. According to the market research analysts at Technavio, the global spirometer market is envisaged to witness impressive growth and will post a CAGR of more than 8% during the forecast period.
One of the emerging trends spurring the growth prospects for this market is the introduction of compact, lightweight, and portable spirometers. This trend for smaller devices will continue over the forecast period with advances in nanotechnology and increasing miniaturization of integrated circuits and sensors. Moreover, the availability of a vast range of wireless data transfer technologies will allow remote monitoring by using a small array of wireless sensors that collect data during fixed intervals and communicate with a central hub that analyzes this data. This makes the device more cost efficient and reduces the complexity of operations for industrial users.
Product segmentation and analysis of the spirometer market
During 2015, the table-top segment led the global spirometer market and accounted for more than 44% of the market share in terms of revenue. Table-top spirometers are available in compact and large sizes and are commonly used in clinics, hospitals, and other diagnostic centers. These devices are highly advanced and have several functional advantages over the other spirometer products. Moreover, they come with additional features such as the ability to provide real-time rate-volume and volume-time chart displays to assess patient lung capacity function trends and to auto interpret results. Such advantages will lead to the widespread adoption of table-top spirometers in healthcare and diagnostic facilities.
Geographical segmentation and analysis of the spirometer market
In terms of geography, the Americas dominated the global spirometer market and is expected to hold close to 35% of the market share by 2020. With the rising demand for affordable healthcare in this region, particularly in the US, the demand for spirometers in the home use segment will rise considerably over the next four years.
Competitive landscape and key vendors
The global spirometer market is competitive due to the presence of several large, medium, and small players. There is stiff competition among the leading vendors to increase their market shares, leading to the introduction of many innovative and advanced solutions in the market. The level of competition among the vendors is expected to increase as they enter into partnerships or acquire distributors to increase their sales and expand their businesses worldwide.
Key vendors in this market are -
- Becton, Dickinson, and Company
- MIR
- Philips
- Schiller
- Welch Allyn
Other prominent vendors analyzed in this report are Cardiotech, Contec Medical Systems, Fukuda Sangyo, Geratherm Respiratory GmbH, Jones Medical Instruments, MGC Diagnostics, nSpire Health, nSpire Health, Thor Medical Systems, and Vitalograph.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global spirometer market?
- What are the key market trends impacting the growth of the global spirometer market?
- What are the challenges to market growth?
- Who are the key vendors in global spirometer market?
- What are the market opportunities and threats faced by the vendors in the global spirometer market?
- Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
- What are the key outcomes of the five forces analysis of global spirometer market?
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