Report : South & Central America Spirometer Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Handheld Spirometers, Table-top Spirometers, and Desktop Spirometers), Technology (Volume, Flow, and Peak Flow), and Application (Asthma, Chronic Obstructive Pulmonary Disease, Cystic Fibrosis, and Others)
At 10.9% CAGR, the South & Central America Spirometer Market is speculated to be worth US$ 115.20 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America spirometer market was valued at US$ 61.90 million in 2022 and is expected to reach US$ 115.20 million by 2028, registering an annual growth rate of 10.9% from 2022 to 2028. The increasing government initiatives and increasing prevalence of respiratory diseases are the critical factors attributed to the market expansion.
Millions of people across the region are suffering from COPD and asthma, which are the two most common respiratory diseases that can seriously impact people’s health and even cause death. Patients with asthma and COPD are recommended to perform daily measurements of static and dynamic respiratory functions to easily track their pulmonary health and to prevent exacerbations. Spirometers are the most common machines for such tests as they measure the volume and speed of air inhaled and exhaled to assess lung function and provide a first-level diagnostic test for pulmonary diseases and its9progression. The continuous initiatives by the government are likely to modernize and offer opportunities for the growth of the spirometer market.
On the contrary, unfavorable reimbursement scenario hurdles the growth of South & Central America spirometer market.
- Based on type, the South & Central America spirometer market is segmented into handheld spirometers, table-top spirometers, and desktop spirometers. The table-top spirometers segment held 42.3% market share in 2022, amassing US$ 26.16 million. It is projected to garner US$ 47.37 million by 2028 to expand at 10.4% CAGR during 2022–2028.
The South & Central America spirometer market, by technology, is segmented into volume, flow, and peak flow. The flow segment held 46.8% market share in 2022, amassing US$ 28.99 million. It is projected to garner US$ 54.73 million by 2028 to expand at 11.2% CAGR during 2022–2028.
The South & Central America spirometer market, by application is segmented into asthma, chronic obstructive pulmonary disease, cystic fibrosis, and others. With 38.7% share of the domain, the chronic obstructive pulmonary disease segment dominated the market in 2022. It accrued US$ 23.94 million in 2022 and is estimated to generate US$ 45.04 million by 2028 to grow at a CAGR of 11.1% over the forecast period.
- Based on country, the South & Central America spirometer market is categorized into Brazil, Argentina, and the rest of South & Central America. Our regional analysis states that Brazil captured 68.6% market share in 2022. It was assessed at US$ 42.46 million in 2022 and is likely to hit US$ 80.16 million by 2028, exhibiting a CAGR of 11.2% during the forecast period.
Key players dominating the South & Central America spirometer market are Baxter International Inc.; COSMED Srl; Henry Schein, Inc.; ICU Medical Inc.; Teleflex Incorporated; and VYAIRE MEDICAL, INC among others.
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