Spirometry Market [NEWS] 2022-2030 By Industry Growth Factors, Latest Technology, and Forecast Report | Smiths Medical Inc. (US), and Koninklijke Philips NV (The Netherlands) – Queen Anne and Mangolia News – Queen Anne and Mangolia News

Report ocean published a new report on the global healthcare market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
The global spirometry market is anticipated to grow at 10.03% CAGR during the forecast period 2018 to 2023 to reach USD 1,106.76 million by the year 2023.
The Centers for Medicare and Medicaid Services data estimates that the U.S. national healthcare expenditure surpassed US$ 4.1 trillion in 2020 and is forecast to reach US$ 6.2 trillion by 2028. According to the Commonwealth Fund, the U.S. expended nearly 17% of gross domestic product (GDP) on healthcare in 2018. Switzerland was the second-highest-ranking country, expending 12.2%. In addition, New Zealand and Australia devote only 9.3%.
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According to the U.S. Bureau of Labor Statistics, employment in healthcare fields is forecast to grow 16% from 2020 to 2030, much quicker than the standard for all occupations, counting about 2.6 million new jobs. This estimated growth is mainly due to an elder population, showing to greater demand for healthcare services. The median annual wage for healthcare practitioners and technical fields (such as registered nurses, physicians and surgeons, and dental hygienists) was US$ 75,040 in May 2021, which was greater than the median annual wage for all occupations in the economy of US$ 45,760.
Market analysis
Spirometry is a fundamental test led by clinicians to assess the status of the lungs. It is imperative for diagnosing COPD, asthma, and other breathing issues. The tests are completed with the assistance of spirometers. Factors, for example, the expanding old masses, constrained budget of healthcare services, and mechanical advances of respiratory devices can drive the market request over the estimate time frame. Activities are undertaken by the governments to control smoking, home utilization spirometers, and spotlight on observing respiratory sicknesses can advance the global spirometry market till 2023. The global spirometry market is anticipated to grow at 10.03% CAGR during the forecast period 2018 to 2023 to reach USD 1,106.76 million by the year 2023. This could be attributed to the direct rise in the cases of asthma and chronic obstructive pulmonary disorders (COPD).
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Market segmentation
The global spirometry market is segmented on the basis of its technology, product, end-user, application, and regional demand. On the basis of its technology, the market is bifurcated into peak flow meters (PFM), volume measurement spirometry, and flow measurement spirometry. Based on its products, the market is segmented into hand-held spirometry, table-top spirometry, and desktop (PC) spirometry. Based on its application, the market is segmented into treatment monitoring and diagnostic monitoring. On the basis of its end-users, the market is bifurcated into diagnostic centers, research & academic institutes, home care, and hospitals & clinics.
Regional analysis
Geographically, the global spirometry market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Major players
Smiths Medical Inc. (U.S.), and Koninklijke Philips N.V. (The Netherlands), Carefusion Corporation (U.S.), NDD Medical Technologies, Inc. (U.S.), Vitalograph (U.K.), Schiller AG (Switzerland), among others are some of the major players in the global spirometry market.
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Table of Content:
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