Spirometer Market worth to Expand at a Healthy Growth Rate in the Coming Years

(IT-NEWSWIRE.COM, September 21, 2019 ) Growth in this market is largely driven by the rising global incidence of chronic respiratory diseases, increasing global aging population, and technological shifts in spirometer devices towards smartphone-based data connectivity.

What the Market Looks Like?
According to research report the Spirometer Market is expected to reach USD 1,047 million by 2023 from USD 655 million in 2018, at a CAGR of 9.8%. North America commanded the largest share of the Spirometer Market in 2018

Recent developments in Spirometer Market:
• In 2018, Schiller AG launched the CARDIOVIT CS-200 Office ErgoSpiro system
• In 2017, Vitalograph launched the Vitalograph Micro
• In 2015, MIR launched the Smart one Spirometer

This market is segmented by Product, Application and end users
• By product, the Spirometer Market is segmented into devices, consumables & accessories, and software. Devices are further segmented into PC-based, portable, and table-top spirometers. In 2018, the consumables & accessories accounted for the largest share of the market. The rising incidence of chronic respiratory diseases and technological shifts toward better data connectivity are driving the growth of this product segment
• Based on applications, the Spirometer Market is segmented into COPD, asthma, and other applications. In 2018, the COPD segment accounted for the largest share of the Spirometer Market. The large share of this segment can be attributed to the rising global prevalence of respiratory diseases and the increasing global aging population.
• By end user, the Spirometer Market is segmented into hospitals, clinical laboratories, home care settings, and industrial settings. The hospitals segment accounted for the largest market share in 2018 while the home care settings segment is projected to grow at the highest CAGR during the forecast period. The growing patient population and the improving healthcare infrastructure in developing countries are some of the key factors driving the growth of the hospitals segment.

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Geographical Overview -
North America commanded the largest share of the spirometer market. The large share of this regional segment can be attributed to the increasing incidence of chronic respiratory diseases. In addition to this, the increasing global aging population is also driving the growth of this market.
Leading Market Players -
Some of the major players in the market include 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).

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Spirometer Market worth to Expand at a Healthy Growth Rate in the Coming Years