Spirometer market Set for Rapid Growth | Industry Analysis 2018
Date: 2018-09-10   Author: Rahul Sankrityayan  Category: #industry

Spirometer market Set for Rapid Growth | Industry Analysis 2018

The Spirometer Market should witness significant expansion due to increased prevalence of respiratory diseases over the last few years. Rising elderly population prone to suffer from various chronic ailments will act as primary driver for device adoption. As per WHO statistics, nearly 3 million people die annually due to chronic respiratory diseases globally.

Rising levels of air pollution coupled with environmental changes has significantly increased respiratory diseases burden, thereby stimulating demand for pulmonary tests. Spirometer allows accurate diagnosis of respiratory diseases including bronchitis, asthma, emphysema, and COPD. Furthermore, it enables detection of exposure to chemicals at work, effect of medication, shortness of breath, lung function before surgery, and progress in disease treatment. Aforementioned benefits will fuel industry expansion over the forecast timeframe.

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Presence of associations such as American Association of Respiratory Care (AARC), American Lung Association and The European Respiratory Society (ERS), that function to create awareness about respiratory diseases and promote pulmonary tests will augment adoption of the device. Industry players are working towards developing superior spirometers to simplify lung volume testing procedures will positively impact business growth. Lack of awareness about respiratory diseases and treatment, improper reimbursement pertaining to respiratory care devices and affordability issues faced in low and middle-income countries will hamper industry growth over the coming years.

Based on product type, the industry is segmented into table top, handheld and desktop spirometers. Table top spirometer business dominated the industry in 2017 and is estimated to grow considerably during the forecast period owing to high number of installations in primary settings including hospital and clinics. Moreover, table top spirometers deliver precise result will drive segment growth.

Flow measurement devices business is anticipated to grow at lucrative rate during the forecast period. These devices do not have any moving parts that make them appropriate for handling. Compact size of the device, cost efficiency and good frequency characteristics is forecasted to escalate device adoption over the coming years.

Application of the device in diagnosis of chronic obstructive pulmonary disease (COPD) held largest market share in 2017 owing to large patient pool suffering from COPD and rising disease awareness. According to U.S. National Institutes of Health report, COPD is responsible to cause 725,000 hospitalizations and 1.5 million emergency room visits annually in the U.S., while resulting in healthcare costs of around USD 60 billion.

Home healthcare business will grow at robust rate during the forecast period owing to growth of home healthcare sector leading to rise in demand for compact homecare spirometers. Growing preference towards management of respiratory diseases such as asthma at home as per short and long-term requirements will drive home healthcare segment during the forecast timeline.

U.S. spirometer market will expand due to presence of large patient pool and cutting-edge technology adoption. As per American Lung Association, COPD is third leading cause of mortality in the U.S. While, nearly 20.4 million adults suffer from asthma in the country. Growing demand for pulmonary tests, technological advancements in the device and rise in healthcare expenditure will further propel industry size expansion in the U.S. over the coming years.

Increasing geriatric population base, prone to suffer from several respiratory illnesses along with increasing usage of spirometers in primary settings including hospitals will drive Japan spirometer market over the forecast timeframe. Recently, In June 2018 Japanese government granted medical equipment worth USD 4.5 million to Bhutan to improve country’s diagnostic capacity as a part of , ‘Improvement of Medical Equipment at the National and Regional Referral Hospital Project’. The medical equipment included mammography machine, computed tomography (CT) scan machine, and spirometer.

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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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