Report Overview

According to the deep-dive market assessment study by Growth Plus Reports, the global spirometer market was valued at US$ 785 million in 2020 and is expected to register a revenue CAGR of 10.8% to reach US$ 2.43 billion by 2031.

Spirometer Market Fundamentals

Spirometry is a standard test used to diagnose respiratory illnesses. A spirometer is an instrument utilized to measure the air entering and leaving the lungs. It is used to diagnose respiratory diseases, such as asthma, chronic obstructive pulmonary disease (COPD), chronic bronchitis, and other conditions that affect breathing. These devices can also be used in monitoring respiratory disorders, such as asthma. Spirometers can help distinguish between diseases with similar symptoms and determine whether the condition is obstructive or restrictive. Though the test is simple and easy, an individual may feel short of breath or dizzy after performing the test as they have to breathe in and out heavily during the test.

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Spirometer Market Dynamics

Factors contributing to the revenue growth of the spirometer market include rising cases of chronic respiratory diseases, increasing aging population, and rising number of tobacco smokers. Moreover, increase in awareness about self-monitoring of respiratory diseases, such as asthma, technological advancements, and product launches are also playing a pivotal role in propelling the global spirometer market revenue growth.

However, the longer period required for performing this test is one of the factors hindering the spirometer market revenue growth to a certain extent.

Spirometer Market Ecosystem

The global spirometer market has been analyzed based on five parameters: product, type, application, end user, and region.

Spirometer Market by Product

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Based on the product, the spirometer market is segmented into devices, consumables & accessories, and software. The devices segment is sub-segmented into portable spirometer, table-top spirometer, and PC-based spirometer.

The consumables & accessories segment accounted for the largest revenue share of the spirometer market in 2020. This can be attributed to increase in the usage of consumables during diagnosis of asthma, COPD, and other respiratory conditions.

Spirometer Market by Type

Based on the type, the market is segmented into flow-sensing spirometer and peak flow meters.

The flow-sensing spirometer segment accounted for the largest revenue share of the global spirometer market in 2020. Rising cases of respiratory diseases and increasing awareness about the advantages offered by these types of spirometers, such as high speed and high accuracy, are boosting revenue growth in the segment.

Spirometer Market by Application

Based on the application, the market is segmented into chronic obstructive pulmonary disease (COPD), asthma, and other applications.

The COPD segment dominated the global spirometer market in 2019. This is ascribed to rise in prevalence of COPD and increase in the usage of spirometer in diagnosis of COPD.

Spirometer Market by End User

Based on the end user, the market is segmented into hospitals, clinical laboratories, home care settings, and other end users.

The hospitals segment accounted for the largest revenue share in the market in 2020. High usage of spirometer in hospitals for monitoring and diagnosis of chronic respiratory disorders is driving revenue growth in the segment.

Spirometer Market by Region

Based on the region, the global spirometer market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).

North America dominated the market for spirometer and accounted for the largest revenue share in 2020. Factors contributing to the growth of the spirometer market in North America include rising geriatric population, increasing prevalence of respiratory diseases, and greater usage of spirometer for diagnosis of COPD, asthma, and other respiratory diseases. Moreover, increase in preference toward the management of respiratory diseases, such as asthma, at home and product launches by regional players are fueling revenue growth in the North America spirometer market.

Spirometer Market Competitive Landscape

The prominent players operating in the global spirometer market include: -

• Teleflex Incorporated
• Vyaire Medical, Inc
• Chest M.I., Inc
• Hillrom Services, Inc
• Fukuda Sangyo Co
• Danlee Medical Products, Inc
• Smiths Medical
• Schiller
• Cosmed Srl
• Jones Medical Instrument Company

Spirometer Market Strategic Developments

• In January 2021, Inofab Health, a Turkish healthcare startup manufacturing and selling advanced spirometry solutions (both spirometer & software), raised $1 million in fresh funds from three local investors
• In August 2020, NuvoAir (formerly Pond Healthcare Innovation), was certified as a Class I medical device manufacturer. The company's platforms include Air Next, a certified Bluetooth spirometer, a connected patient app, and a healthcare portal.
• In April 2017, Monitored Therapeutics, a remote patient management company, received FDA 510(k) clearance for its GoSpiro Home Spirometer. The spirometer was specifically designed for home-use. It is a wireless connected spirometer that works with different devices, such as smartphones, tablets, and PCs.

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