Spirometer Market Size is projected to reach USD 1.6 Billion by 2030, growing at a CAGR of 3.5%: Straits Research

The global spirometer market had a share value of USD 1,221 million in 2021, which is expected to grow to USD 1,608 million with a CAGR of 3.5% during the forecast period. North America will command the market with the largest share and a CAGR of 3.2% during the forecast period.

 | Source: Straits Research Straits Research

New York, United States, Aug. 24, 2022 (GLOBE NEWSWIRE) -- A spirometer measures the air volume inhaled and exhaled during a single breathing cycle. The device facilitates the occupational diagnosis of various respiratory problems, such as chronic obstructive pulmonary disease, emphysema, asthma, and other respiratory diseases. Spirometers are one of the respiratory laboratories and clinics' most commonly observed tools. Spirometers can create a profile of a user's lung health. Clinicians, therefore, utilize spirometers as both a diagnostic and monitoring tool. Numerous benefits are associated with personalized spirometers for patient use outside the clinic. Regular spirometry can detect a decline in lung health or the progression of the disease considerably earlier. This allows the patient and physician to prevent or treat the condition before it worsens.

The global growth in the prevalence of chronic obstructive pulmonary disease (COPD) is ultimately pushing higher demand for spirometers. According to the World Health Organization (WHO), around 300 million people worldwide have asthma, and 250,000 have died. In 2019, around 65 million people globally had COPD, including approximately 16 million Americans; this figure is projected to rise in the coming years. In addition, the chronic obstructive pulmonary disease is one of the leading causes of morbidity and mortality in the United States. Numerous studies indicate that the general public is primarily uninformed of COPD. However, many individuals with respiratory symptoms are unaware that they require a diagnosis, which hinders the use of spirometers for identifying respiratory devices.


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Growing Prevalence of Respiratory Diseases to Drive the Global Spirometer Market

Respiratory illnesses are one of the leading causes of death and disability worldwide. Several causes, including filthy air, outdoor and indoor pollution, tobacco usage through smoking, and dangerous particles emitted from workplaces, contribute to the increase in the prevalence of respiratory illnesses in the population. The incidence of cases ending in respiratory failure and death has climbed dramatically in recent years. The World Health Organization reported that around 65 million individuals suffered from chronic obstructive pulmonary disease in 2017, and approximately 3 million died as a result. Asthma is the most prevalent chronic disease affecting children, impacting 14% of children worldwide. It affects nearly 334 million people. As effective healthcare solutions, such as spirometers, are readily available, enhancing respiratory health through early identification and diagnosis can prevent, manage, and treat various illnesses. Hence, with the growing prevalence of respiratory illnesses, the worldwide spirometer market is predicted to rise rapidly in the upcoming years. Moreover, spirometers can identify chemical exposure in the workplace, shortness of breath, medicine side effects, lung performance assessment before surgery, and the progression of illness treatment. Thus, it is projected that such spirometers' advantages will help expand the global spirometer market.

Furthermore, lifestyle behaviors such as smoking and alcohol consumption have led to respiratory issues and are among the key drivers driving the growth of the worldwide spirometer market. As spirometers aid in the early detection of several respiratory disorders, it is anticipated that the prevalence of these conditions would rise, hence driving demand. In addition, an increase in the older population, susceptible to a variety of respiratory diseases, stimulates the expansion of the spirometer market. In addition, technological developments in spirometry and an increase in regulatory approvals contribute to the growth of the spirometer market.


Report Scope

Report MetricDetails
Market SizeUSD 1.6 Billion by 2030
CAGR3.5% (2022-2030)
Historical Data2019-2020
Base Year2021
Forecast Period2022-2030
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredType, Technology, Application, End-User, Region
Geographies CoveredNorth America, Europe, Asia-Pacific, LAME, and Rest of the World
Key Companies Profiled/VendorsSCHILLER,Hill-Rom, Inc.,Midmark Corp.,FutureMed,COSMED Srl,MGC Diagnostics Corporation,Smiths Medical,Vyaire Medical,Teleflex,NSPIRE HEALTH INC.
Key Market OpportunitiesGrowth in Preference for Home Healthcare to Spur Market Opportunities
Key Market DriversGrowing Prevalence of Respiratory Diseases to Boost Market Progress

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Regional Insights

North America will command the market with the largest share and a CAGR of 3.2% during the forecast period. Increasing asthma, COPD, and cystic fibrosis incidences are primarily accountable for the region's predominance. The American Lung Association reports that COPD is the third leading cause of death in the United States. Additionally, around 20.4 million people in the United States have asthma. As a result, there is a growing preference among Americans and physicians for pulmonary function testing for the early detection of lung illnesses to avoid future expensive medical expenses. In addition, technical advancements in the production of user-friendly and portable spirometers and greater patient awareness are expected to fuel the growth of the U.S. spirometer market throughout the forecast period.

In addition, North America is considered an early adopter of new medical innovations. This is mainly attributed to raising awareness of the numerous respiratory medicines in hospitals and expanding government and non-governmental organization (NGO) programs. Consequently, it is projected that the need for spirometers will increase among individuals afflicted with various respiratory illnesses.

Asia-Pacific will hold the second-largest share of USD 539 million with a CAGR of 4.5%. Due to its large population, multiple chronic and lifestyle disorders, and rapid increase in the frequency of respiratory diseases, the Asia-Pacific region provides market participants in the spirometer industry lucrative opportunities. During the forecast period, the market for spirometers is likely to be propelled by an increase in the proportion of geriatric patients susceptible to a variety of respiratory disorders and an increase in the use of spirometers in general healthcare settings, such as hospitals. Moreover, using artificial intelligence (AI) in spirometers will create opportunities for key market participants.

Increasing demand for modern medical devices, healthcare reforms, and the prevalence of chronic respiratory diseases like asthma, COPD, cystic, and pulmonary fibrosis all lead to the expansion of the spirometer market. In addition, an increase in programs, grants, and initiatives connected to the availability of medical equipment in the region is anticipated to propel further the growth of the spirometer market in the region.


Key Highlights

  • The global spirometer market size had a share value of USD 1,221 million in 2021, which is expected to grow to USD 1,608 million with a CAGR of 3.5% during the forecast period.
  • Based on type, the segment of table-top spirometer is expected to hold the largest share with a CAGR of 3.7% during the forecast period.
  • Based on technology, the segment of flow measurement is estimated to have the largest market share with a CAGR of 4.1% during the forecast period.
  • Based on end-user, the segment of hospitals & clinics is expected to have the largest market share with a CAGR of 3.9%.
  • Based on regional analysis, the North American region is expected to command the market with the largest share and a CAGR of 3.2%.


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Competitive Players in the Market

  • SCHILLER
  • Hill-Rom, Inc.
  • Midmark Corp.
  • FutureMed
  • COSMED Srl
  • MGC Diagnostics Corporation
  • Smiths Medical
  • Vyaire Medical
  • Teleflex
  • NSPIRE HEALTH INC.


Global Spirometer Market: Segmentation
By type 

  • Hand-Held 
  • Tabletop

By technology

  • Volume Measurement
  • Flow Measurement

By application

  • COPD
  • Asthma 
  • Others

By end-user

  • Hospitals & Clinics
  • Home Care Settings
  • Others

By region

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA


TABLE OF CONTENT

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Spirometer Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Type Overview
    1. Introduction
      1. Market Size & Forecast
    2. Hand-Held
      1. Market Size & Forecast
    3. Tabletop
      1. Market Size & Forecast
  5. Technology Overview
    1. Introduction
      1. Market Size & Forecast
    2. Volume Measurement
      1. Market Size & Forecast
    3. Flow Measurement
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Type
        2. By Technology
      3. Canada
        1. By Type
        2. By Technology
      4. Mexico
        1. By Type
        2. By Technology
      5. Latin America
        1. By Type
        2. By Technology
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Type
        2. By Technology
      3. France
        1. By Type
        2. By Technology
      4. U.K.
        1. By Type
        2. By Technology
      5. Italy
        1. By Type
        2. By Technology
      6. Spain
        1. By Type
        2. By Technology
      7. Rest of Europe
        1. By Type
        2. By Technology
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Type
        2. By Technology
      3. China
        1. By Type
        2. By Technology
      4. Australia
        1. By Type
        2. By Technology
      5. India
        1. By Type
        2. By Technology
      6. South Korea
        1. By Type
        2. By Technology
      7. Rest of Asia-Pacific
        1. By Type
        2. By Technology
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Type
        2. By Technology
      3. South Africa
        1. By Type
        2. By Technology
      4. Kuwait
        1. By Type
        2. By Technology
      5. Rest of Middle East & Africa
        1. By Type
        2. By Technology
  7. Company Profile
    1. SCHILLER
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Hill-Rom Inc
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. Midmark Corp
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations


Table of Content and Figure @ https://straitsresearch.com/report/spirometer-market/toc 


Market News

  • In 2022, Midmark Corp. announced a strategic partnership with Bien-Air Dental SA.
  • In 2022, Midmark Corp. announced the launch of its Synthesis Wall-Hung Cabinetry to provide animal health teams with enhanced visibility and access to supplies.
  • In 2022, MGC Diagnostics Corporation announced the global distribution agreement with BedfontÒ Scientific Ltd.


News Media

Top 10 Medical Device Companies in the World


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