Spirometer Market

Global Spirometer Market Size (2023 to 2028)

The global spirometer market is predicted to grow at a CAGR of 10.4% from 2023 to 2028 and be worth USD 1.74 billion by 2028 from USD 1.06 billion in 2023.

MARKET DRIVERS:

The growing global incidence of respiratory diseases drives the growth of the spirometer market. Respiratory diseases are among the leading causes of death in the world. Chronic Obstructive Pulmonary Disease is the third most disease that causes death. Early detection of these diseases can help the patient to survive. Spirometry helps in the early detection of these diseases. This helps to understand the severity and avoids misdiagnosis. The growing preference for home healthcare services and rapid adoption of technological advancements in the healthcare industry further fuel the growth rate of the spirometer market. Patients are increasingly adopting home healthcare services due to the convenience and cost-effectiveness they offer. The development of a tele-spirometer has enabled remote monitoring of patients’ respiratory health and promoted the growth rate of the spirometer market.

The growing geriatric population worldwide is likely to augment the market growth. The Elderly population has a high risk of chronic pulmonary diseases which can be identified by spirometry. The increased population of elderly people is leading the growth of the market. The growing awareness among consumers about advanced diagnostic techniques and their benefits is expected to drive the market. Spirometers are moving away from paper-based data collection and toward smartphone-based data collection, which is expected to drive spirometer market growth. Noncommunicable disease burden may be reduced by interventions that raise the frequency of spirometry assessments. Air pollution affects about 2.0 billion people globally daily, both inside and out. Pollutants and irritants have a variety of negative consequences for the lungs. Companies are designing spirometers with better design and features to make the complicated process of pulmonary function monitoring easier for patients and medical professionals, positively impacting the market growth.

The growing investments in research and development by the manufacturers of spirometers contribute to the market growth. This is to develop technologically advanced devices which give accurate results and are easy to use. The development of portable and wireless devices also devices which connect to smart devices has made it easier for clinicians and hospitals to collect patients’ data. In contrast to traditional spirometry devices, modern spirometry devices standardize test results and react quickly. Since ambulatory care settings have become more common, the need for shorter hospital stays has grown. Various companies across the regions have also adopted innovative manufacturing techniques to eliminate bacterial contamination over the years. Such technological advancements make medical testing practices faster and more transparent.

MARKET RESTRAINTS:

The high costs associated with spirometers is one of the major factors hampering the market growth. Limited knowledge among healthcare professionals and patients about the benefits and usage of spirometry, variations in spirometry testing protocols and interpretations across different regions or healthcare settings and inadequate reimbursement policies or coverage for spirometry testing and related services further hinder the market growth. The availability of alternative diagnostic methods such as imaging modalities or blood tests, the shortage of trained healthcare professionals proficient in performing and interpreting spirometry tests and stringent regulatory requirements impede the market growth.

Impact of COVID-19 on the global spirometer market:

With the emergence of COVID-19, the need to stop the virus from spreading prompted worldwide lockdowns and the closure of outpatient centers and other non-emergency environments. The pandemic has negatively impacted healthcare services around the world. The third leading cause of death is chronic obstructive pulmonary disease (COPD). The COVID-19 epidemic has resulted in an uptick in respiratory disease cases. As a result, there is expected to be an increase in ARDS patients that need respiratory treatment and an increase in the market for spirometers. Countries, on the other hand, are already preparing to reopen medical centers. For example, Italy has entered phase 2 of the pandemic and is preparing to reopen its borders. Respiratory units expect to reopen by implementing various steps such as a pulmonologist examination in a space with disinfected instruments and minimal furnishings, a technician wearing a PPE uniform, and plastic nose clips and mouthpieces. Manufacturers have seen increased product demand from healthcare practitioners and patients to manage their lung functions at home due to the COVID-19 pandemic. Digital spirometers have been developed by technologically innovative respiratory healthcare firms, allowing patients to track their lung function easily. In April 2020, Aluna, a San Francisco-based company, unveiled its FDA-approved portable wireless Spirometer, allowing patients to monitor their lung health at home. Despite the conditions imposed by COVID-19, the global spirometer market is forecasted to witness decent growth heights during the forecast period.

REPORT COVERAGE:

This research report on the global spirometer market has been segmented and sub-segmented based on type, technology, application, end-user, and region.

Spirometer Market – By Type:

• Handheld
• Tabletop
• Desktop

Based on the type, the tabletop segment dominated the global spirometer market in 2022 and is expected to continue the dominating trend throughout the forecast period. High accuracy and precision of tabletop spirometers in measuring lung function parameters majorly propel segmental growth. The growing usage of tabletop spirometers in clinical settings, hospitals and pulmonary function laboratories and the integration possibilities of tabletop spirometers with electronic medical records (EMR) systems for streamlined data management contributes to the growth of the tabletop segment. A wide range of diagnostic capabilities including advanced spirometry testing and the availability of features such as incentive spirometry for postoperative recovery further boost the growth rate of the tabletop segment.

On the other hand, the desktop spirometers segment is projected to have significant market growth and is expected to have the fastest CAGR during the forecast period. The high durability and long lifespan of desktop spirometers is making them suitable for long-term use in medical facilities and the ability to conduct complex spirometry tests and measure additional parameters further boosts the growth rate of the desktop spirometers segment in the worldwide market.

Spirometer Market – By Technology:

• Volume Measurement
• Flow Measurement
• Peak Flow Measurement

Based on the technology, the flow measurement segment is predicted to be the most lucrative segment during the forecast period and is estimated to occupy more than 60% of the global market during the forecast period. The flow measurement can offer accurate measurement of airflow rates during breathing and is widely used in diagnosing and monitoring respiratory conditions such as asthma and chronic obstructive pulmonary disease (COPD). These factors primarily drive the growth of the flow measurement segment.

The peak flow measurement segment is anticipated to showcase a healthy CAGR during the forecast period. The relevance of peak flow measurement in monitoring and managing asthma and other respiratory conditions and the ability to identify triggers and assess the effectiveness of asthma medications drive the growth of the peak flow measurement segment.

Spirometer Market – By Application:

• Asthma
• COPD
• Cystic Fibrosis
• Pulmonary Fibrosis
• Others

Based on the application, the COPD segment held the major share of the global spirometer market in 2020 and is forecasted to witness a healthy CAGR during the forecast period. The growing prevalence of COPD particularly due to smoking and environmental factors, rising emphasis on early diagnosis and monitoring of COPD to improve patient outcomes and growing use of spirometry as a primary diagnostic tool for COPD majorly drive the growth of the COPD segment in the global market.

The asthma segment is more likely to have significant growth over the forecast period. Factors such as the growing prevalence of asthma globally, rising awareness about the importance of early detection and management of asthma and rapid adoption of spirometry as a diagnostic tool for asthma primarily drive the growth of the asthma segment.

Spirometer Market – By End-User:

• Hospitals and Clinics
• Home Healthcare

Based on the end-user, the hospitals and clinics segment dominated the market in 2022 and is estimated to occupy a major share of the global spirometer market during the forecast period. The availability of advanced diagnostic capabilities and access to medical professionals drive the adoption of spirometers in hospital and clinic settings and contributes to segmental growth. The availability of specialized respiratory departments and pulmonary function laboratories in hospitals supports the use of spirometry and fuels the growth rate of the segment.

The home healthcare segment is anticipated to account for a notable share of the global market during the forecast period owing to the growing preference for home-based care and monitoring, convenience and comfort of conducting spirometry tests at home, cost-effectiveness and reduction in healthcare expenses.

Spirometer Market – By Region:

• North America
• Europe
• APAC
• Latin America
• Middle East & Africa

Geographically, the North American spirometer market is expected to play a dominating role in the global Spirometer Market during the forecast period. The North American regional market occupied around 45% of the global market in 2020. The market growth in the region is attributed to the presence of major market players and developing economies such as the United States and Canada. In the regional market, the United States dominated the Spirometer during the previous years and is expected to grow during the forecast period. The country’s market growth is attributed to the proliferation of chronic obstructive pulmonary diseases in the United States. According to the CDC, COPD care costs are expected to increase from USD 59 billion to USD 90 billion in the coming years. However, the Canadian market is anticipated to contribute a moderate share to the North American regional market growth. 

The European spirometer market is projected to be one of the largest markets of Spirometer Markets over the forecast period. The presence of advanced healthcare infrastructure and the prevalence of obstructive pulmonary diseases propel market growth in the region. The market players Germany, the UK, France, and Italy are promoting the European regional market growth. The UK is estimated to have significant market growth in the region owing to the favorable reimbursement programs and support by the government and private organizations in the country. 

The Asia Pacific spirometer market growth is projected to witness the fastest growth rate over the forecast period. Over the forecast period, chronic lung disorders such as Asthma and COPD are projected to boost the market for spirometers in the Asia Pacific. The major contributors in the region are emerging countries such as China, Japan, and India. The Indian Spirometer is anticipated to hold the highest market share during the forecast period. Improving primary care initiatives for early diagnosis and increasing healthcare spending encourages the Indian market growth. 

KEY MARKET PARTICIPANTS:

Some of the major participants market in the global spirometer market profiled in this report are Schiller, Smiths Medical, Vyaire Medical, Inc., SDI Diagnostics, Nihon Kohden Corporation, nSpire Health Inc., Fukuda Sangyo Co. Ltd., Sibelmed, Labtech Ltd., Vitalograph, Geratherm Respiratory AG, Koninklijke Philips N.V., and Welch Allyn.

RECENT HAPPENINGS IN THE MARKET:

• In November 2021, Cipla launched Spirofy, India’s first Pneumotach-based potable, wireless spirometer.
• In June 2021, ERT Announced Real-Time Coaching for Pulmonary Function Tests Performed in the Patient's Home.