Number of pages: 120 | Report Format: PDF | Published date: January 28, 2022
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global spirometer market was valued at US$ 583.93 million in 2022 and is expected to register a revenue CAGR of 5.20% to reach US$ 924.07 million by 2031.
Spirometer Market Fundamentals
A spirometer is a medical tool that evaluates the volume and flow of air breathed and exhaled to determine lung function. It is often utilized in both research investigations and respiratory diagnosis and monitoring. Spirometry is a commonly used test to measure lung function, identify respiratory diseases, and evaluate the efficacy of therapeutic therapies.
Spirometry aids in the diagnosis and staging of COPD, which encompasses diseases like emphysema and chronic bronchitis. The forced expiratory volume in one second (FEV1), which is frequently decreased in people with COPD, is measured. Spirometry can be used to measure asthma severity and evaluate lung function. It aids in assessing the severity of airflow obstruction and tracking asthma treatment response. These portable spirometer devices are frequently used in combination with these spirometer applications. The applications enable users to do spirometry tests at home, offering a practical approach to tracking the evolution of their lung health over time.
Spirometer Market Dynamics
The Forum of International Respiratory Societies (FIRS) claims that chronic respiratory disorders have a significant negative impact on global health. Around 235 million individuals are thought to have asthma, whereas more than 200 million people have COPD. In addition, asthma, which affects 14% of children worldwide and is worsening, is the most prevalent cause of respiratory disease. For instance, the World Health Organization (WHO) reports that in 2019 asthma killed 461,000 people and impacted around 262 million people. As a result, the main reason for the increased sales of these gadgets is the rising prevalence of illnesses. The primary lung function test needed to identify and manage COPD, asthma, and other respiratory conditions is spirometry. The introduction of technologically enhanced products and programs has increased demand.
The prevalence of chronic obstructive pulmonary disease (COPD) is on the rise, spirometer technology is advancing, and home healthcare is becoming more popular, all of which are driving market expansion. Spirometry tests are predicted to become more popular due to the increasing prevalence of COPD in the community and the increased necessity for early diagnosis of the ailment. Over the projection period, it is predicted to accelerate market growth. For instance, according to a November 2021 article in the European Respiratory Journal, there will be 49,453,852 COPD cases in Europe by 2050, up from 36,580,965 in 2020. The Netherlands is also anticipated to have Europe's highest COPD prevalence (14.6%) by 2050.
Additionally, 2.6 million people in France already have chronic obstructive pulmonary disease (COPD), and by 2025, that figure is anticipated to increase to 2.8 million, according to a study published in PLOS ONE in January 2021. Additionally, 1.9% of England's population, or 1.17 million people, received a diagnosis of chronic obstructive pulmonary disease (COPD) in the years 2020–2021, according to figures released by the NHS for 2022. Therefore, the rise in the number of COPD patients is expected to drive demand for technologically improved spirometers, driving market expansion.
The leading players are concentrating on investments to build cutting-edge devices due to the increased need for precise equipment for assessing lung function. Many well-known companies and fresh start-ups seek financing for pulmonary tester research and hospital and clinical testing. For instance, NuvoAir, a digital health firm headquartered in Stockholm, raised USD 12 million in June 2021 to develop its systems for managing chronic diseases and conducting clinical trials. AlbionVC oversaw the fundraising, which follows a record 500% growth for the first quarter of 2021. The platform's innovations include a sensor attached to asthma and COPD inhalers, Bluetooth-enabled spirometers that can be used to assess lung function remotely, and Fitbit integration.
Despite the increased rates of asthma and COPD worldwide, some constraints prevent the widespread use of these devices. The absence of trained professionals for performing diagnostic tests is one of them that is expected to hinder progress. A set of several breathing tests known as pulmonary function testing can be conducted by certified pulmonary function technicians. In developing nations, there is a dearth of qualified healthcare workers. The primary cause of this shortfall is the departure of healthcare professionals to wealthier countries.
Spirometer Market Ecosystem
The global spirometer market has been analyzed from the following perspective by product, type, application, end user, and region.
Spirometer Market by Product
Based on the product, the spirometer market is segmented into devices, consumables & accessories, and software. The devices are sub-segmented into a portable spirometer, table-top spirometer, and PC-based spirometer.
The devices segment is likely to dominate the market. The market is anticipated to expand rapidly due to the product's broad use in managing respiratory illnesses, including asthma, COPD, and other pulmonary diseases. Since they can save hundreds of diagnostic test findings and print them on common printers, portable spirometers are lightweight gadgets that have gained popularity. Results can also be uploaded to patients' Electronic Medical Records (EMRs) and flash drives. The use of handheld portable spirometers has expanded the range of pulmonary function testing beyond the lab and into primary care settings, enabling the early identification and beginning of therapy for pulmonary blockages.
Spirometer Market by Type
Based on the type, the market is segmented into flow-sensing spirometers and peak flow meters.
The flow-sensing spirometers segment held the largest market share with 63.3% in 2022. This is because it has several uses in pulmonary function tests. They are simpler to handle because they generally use tabletop technology and don't have any moving parts. Spirometers for flow measurement are very simple to automate due to their relatively superior frequency characteristics. They also offer a visual examination of the flow produced by the technique. Flow spirometers monitor both inspiration and expiration. These gadgets are appreciated in the workplace and healthcare environments.
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 had the highest market share, with 38.1% in 2022. This is brought on by the widespread prevalence of moderate to severe COPD and the simplicity of spirometry-based COPD diagnosis. Around 7.6% of people in Europe are thought to have COPD. Spirometry is a critical component of the diagnosis and management of COPD. The use of mobile applications like ResAppDx, which can diagnose COPD and COPD aggravations brought on by infections, might function as a substitute and restrain the segment's growth.
Spirometer Market by End User
The hospital segment led the spirometer market in 2022 with a share of 49.2%. Spirometry is widely used in hospitals to diagnose and monitor chronic respiratory problems. The segment is expanding due to the rising aging population, higher reimbursements for clinical tests carried out in hospitals, and the introduction of cutting-edge technology.
On the other hand, the homecare segment is anticipated to develop at the greatest rate over the projected period, with a CAGR of 5.8%. Patients receiving home care for respiratory illnesses have a lower mortality rate, a higher quality of life overall, and a higher probability of surviving. Spirometers used in homes often run on batteries and may be used frequently.
Spirometer Market by Region
Based on the region, the global spirometer market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Throughout the projection period, North America's spirometer market is anticipated to expand strongly. The prevalence and occurrence of respiratory disorders are on the rise, as are healthcare spending and the presence of a well-established healthcare infrastructure. Consumer use of home-health equipment is also on the rise. Spirometer demand is anticipated to rise in response to the increased prevalence of respiratory conditions, including asthma, COPD, and others, which will accelerate market expansion. For instance, the Asthma and Allergy Foundation of America (AAFA) estimates that around 1 in 13 Americans, or about 25 million individuals, had asthma in April 2022. The same source estimates that 5.1 million American children under the age of 18 have asthma. The same source estimates that 5.1 million American children under the age of 18 have asthma. According to the same source, adult females are more likely than adult males to have asthma. In addition, there is tremendous economic pressure on the U.S. to lessen the burden of respiratory diseases. For instance, the researchers projected that the yearly direct expenses of COPD in the United States are USD 18 billion and are anticipated to increase by USD 22 billion by 2030 in a paper published in the International Journal of COPD in March 2021.
The Asia Pacific region will likely show the fastest growth during the forecast period. Asthma and COPD are common respiratory illnesses in India, and because of factors like air pollution, smoking, and workplace dangers, it is anticipated that the burden of these illnesses will rise in the years to come. This will probably increase the need for spirometers across the nation. The need for spirometers is also being fueled by India's growing elderly population, which is more exposed to respiratory illnesses. The Indian spirometer market is anticipated to increase due to technological advancements. For instance, producers are creating spirometers with attributes like real-time monitoring, cloud-based data administration, and wireless communication, which can enhance the precision and practicality of spirometry testing.
Spirometer Market Competitive Landscape
Some of the prominent market players in the global market spirometer include,
Spirometer Market Strategic Development
A spirometer is a medical tool that evaluates the volume and flow of air breathed and exhaled to determine lung function. It is often utilized in both research investigations and respiratory diagnosis and monitoring.
The flow-sensing spirometer segment led the global spirometer market in 2022.
The estimated market size of the spirometer market in 2031 will be US$ 924.07 million.
The revenue CAGR of the spirometer market during the forecast period is 5.20%.
Some of the major players in the global spirometer market include Teleflex Incorporated, Vyaire Medical, Inc, and Chest M.I., Inc.
*Insights on financial performance are subject to the availability of information in the public domain