Spirometer Market Growth Overview:
The spirometer market size was for $1,079.51 million in 2019, and is expected to reach $1,471.59 million by 2027, registering a CAGR of 3.5% from 2020 to 2027. A spirometer is an apparatus for measuring the volume of air inhaled and exhaled by the lungs in one respiratory cycle. A spirometer measures ventilation, i.e. the movement of air in and out of lungs. The spirogram will identify two different types of abnormal ventilation patterns, obstructive and restrictive. The rise in lifestyle habits such as smoking, consumption of alcohol, and an increase in the geriatric population is a significant factor boosting the market. Technological advances for new devices, regulatory approvals, and product launches are further promoting market growth. The prevalence of air pollution, climate changes, and dust are also fueling the spirometermarket growth. Respiratory diseases are witnessing exponential rise across the world. In 2017, according to the WHO, respiratory diseases were considered to be the leading cause of death and disability in the world. Nearly 65 million people suffer from chronic obstructive pulmonary disease (COPD), and 3 million are expected to die from it each year, making it the third leading cause of death across the world.
Moreover, approximately 334 million people suffer from asthma, the most common chronic disease of childhood, is affecting 14% of all children globally. On the contrary, surge in number of regulations to promote use of spirometer devices and increase in funds for research in developing countries are expected to offer lucrative opportunities for the spirometer market in the future.
The spirometer market is positively impacted. As the spread of Coronavirus (COVID-19) persists throughout the global community, the key market players are supporting the health systems and healthcare professionals actively. This pandemic has disrupted growth in many economies across various domains. Respiratory diseases are among the leading causes of death across the globe. Furthermore, chronic obstructive pulmonary disease (COPD) is the third-most-leading cause of death. COVID-19 outbreak has caused increased incidence on respiratory diseases. Thus, it is anticipated that there will be a surge in the number of ARDS patients requiring respiratory support, and there may be an increase in the demand for spirometer.
In addition, air pollution, climate changes, and allergies are further driving the market growth. The development of technologically advanced devices, regulatory approvals, and product launches are driving the market growth. However, unawareness associated with respiratory diseases and availability of substitutes for spirometer impede the market growth. Moreover, increase in initiatives taken by authorities and governments to improve healthcare systems and spread awareness regarding benefits of spirometers are also expected to boost the growth of the global spirometer market.
Spirometer Market Segmentation
The spirometer market is segmented on the basis of type, technology, application, end user, and region. Based on type, the market is segmented into hand-held and table top. Based on technology, the market is segmented into volume measurement, and flow measurement. Based on application, the market is segmented into COPD, asthma and others. Based on end user, the market is segmented into hospitals & clinics, home healthcare, and others. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Spain, Italy, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Table-Top segment holds the dominant position in 2019 and would continue to maintain the lead over the forecast period.
Type Segment review
On the basis of type, the table-top segment is expected to maintain its dominant position throughout the forecast period. The spirometer market growth is characterized by extensive use in the diagnosis of obstructive airway disorders including asthma and other pulmonary diseases. Furthermore, these advancements help clinical researchers and physicians in investigational studies. All these factors are expected to propel the growth of the spirometer market during the forecast period.
Flow Measurement technology segment holds the dominant position in 2019 and would continue to maintain the lead over the forecast period.
Application Segment review
The COPD segment accounted for the highest segment in 2019. The large share of this segment can be attributed to the high and growing prevalence of COPD globally and the easy diagnosis of COPD offered by spirometry. On the other hand, the asthma segment is expected to witness the fastest growth over the forecast period from 2020 to 2027. This is due to rising prevalence of asthma among children as well as adults. The global prevalence of asthma among children is around 14% and the overall annual costs of asthma treatment in the U.S. are around USD 18 billion.
COPD segment is projected as one of the most lucrative segments.
End User Segment review
By end user, the hospitals & clinics segment is expected to grow at the highest CAGR during the forecast period. This is attributed to rise in number of patients diagnosed with respiratory diseases, increase in government initiatives, and technological upgradation in spirometer.
By Ens User
Hospitals & clinics segment is projected as one of the most lucrative segments.
Snapshot of Asia-Pacific Spirometer market
Asia-Pacific presents lucrative opportunities for key players operating in the spirometer market, owing to rise in population, particularly geriatric population along with increase in awareness among healthcare entities and patients pertaining to potential of these devices in chronic disease management. In addition, rise in healthcare expenditure and developing guidelines are expected to propel the market growth in the region.
The report provides a comprehensive analysis of the leading companies operating in the global spirometer market are SCHILLER, Hill-Rom, Inc., Midmark Corp., Vitalograph, COSMED srl, MGC Diagnostics Corporation, Smiths Medical, Vyaire Medical, Teleflex, NSPIRE HEALTH INC.
Asia-Pacific region would exhibit the highest CAGR of 4.2% during 2020-2027
Key Benefits For Stakeholders
- The report provides an extensive analysis of the spirometer market size, current market trends and future estimations of the market.
- The spirometer market analysis is comprehensively covered with respect to the component, application, and region.
- The spirometer estimations in this report are based on high-end analysis of the key developments for 2019–2027.
- Recent developments, key manufacturers, and top player positioning are listed in this report to analyze the competitive scenario of the spirometer market.
Spirometer Market Report Highlights
By End User
Key Market Players
Hill-Rom, Inc., MGC Diagnostic Corporation, SCHILLER, Nspire health Inc., Vyaire medical, Midmark Corporation, Teleflex Incorporated, Smiths Medical, COSMED srl, Vitalograph
Utilization of these devices is expected to witness significant growth, owing to increase in cases of diseases such as asthma, cystic fibrosis, COPD and others across the globe. The global spirometer market has provoked interest of healthcare providers, owing to the associated benefits offered by these devices for monitoring patient health after surgeries and lower the risk of lung problems such as pneumonia. There are remarkable technological advancements in monitoring devices to improve screening of severe chronic obstructive pulmonary diseases (COPDs). Asia-Pacific and LAMEA are expected to offer lucrative growth opportunities to the key players in the industry.
Rise in incidences of lung diseases, growth in aging population, technological advancements, and increase in emphasis on monitoring of COPD patients are some of the factors that majorly drive the market growth. However, high cost of few spirometers, rising incidences of respiratory diseases and stringent regulatory procedures affect the market growth.
The use of volume measurement and flow measurement spirometer has emerged as an effective solution for the treatment of respiratory diseases. The market is driven by the growing patient COPD and asthmatic population, as well as FDA approvals for the novel products and its wide acceptance among the patient population. Increase in government initiatives to control COPD and asthma further fuels the growth for this market.
In addition, spirometer device manufacturers and distributors focus to expand their presence in emerging economies to increase their market outreach. A rapid growth was observed in shipments of these devices by key manufacturers to improve obstetrics healthcare services in emerging nations.