Spirometer market size accounted for $1.07 billion in 2019, and is expected to reach $1.47 billion by 2027, registering a CAGR of 3.5% from 2020 to 2027. Spirometer is used in assisting a patient who is having difficulty in breathing and cannot achieve adequate oxygen levels. Furthermore, patients with respiratory disorders such as asthma, cystic fibrosis, chronic obstructive pulmonary disease, and acute respiratory distress syndrome require COPD and asthma diagnostic and monitoring devices. In addition, growth in geriatric population, tobacco consumption, allergens, and air pollutants increase the prevalence of respiratory diseases, which in turn drive the global spirometer market.
List of Key Players
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.
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The global spirometer market is estimated to grow during the forecast period, owing to factors such as innovation, technological advancements, and advancements of spirometers. The World Health Organization (WHO) reported that asthma affects around 300 million people worldwide, and 250,000 have died due to asthma globally. In 2019, approximately 65 million people had COPD across the globe; among which around 16 million Americans had COPD and the number is estimated to grow in the future. Spirometers are being extensively used for treatment, diagnosis, monitoring, and controlling respiratory disorders. Rise in prevalence of respiratory diseases and increase in adoption of smoking & alcohol consumption are the primary factors fueling the spirometer market growth.
On the basis of type, the table-top segment is estimated to garner largest share during the forecast period. This segment is expected to maintain its dominant position throughout the forecast period. Moreover, innovations in diagnostic devices have not only made it convenient to use them, but also made them portable and automatic. Furthermore, these advancements help clinical researchers and physicians in investigational studies. All these factors are expected to propel the growth of the market during the forecast period.
On the basis of technology, the flow measurement segment accounted for the largest share in 2019. This is attributed to the increasing use of flow measurement spirometer in pulmonary function testing applications for clinical diagnosis of COPD and asthma. These are smaller and portable, computerized and also help in minimizing infections. Thus, flow measurement technology is more desirable than spirometers with volume measurement technology and are expected to grow at the highest CAGR over the analysis period.
On the basis of application, the COPD segment garnered the largest share in 2019. It is expected to maintain its dominant position throughout the analysis period, owing to prevalence of asthma across the globe.
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Region wise, the spirometer market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest market share in 2019, and is expected to retain its dominance throughout the forecast period. This is attributed to the factors such as rise in prevalence of respiratory diseases as a consequence of unhealthy lifestyles and high stress levels. Furthermore, incorporation of new reimbursement models for respiratory and monitoring solution procedures and stringent regulatory guidelines that are aimed toward medical efficacy, patient safety, and clinical efficiency are expected to drive the regional demand in the coming years. Furthermore, Asia-Pacific is anticipated to expand at a significant CAGR of 4.2% during the forecast period, owing to expeditiously improving healthcare systems and rise in healthcare expenditure and awareness regarding benefits of this technology.
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