Spirometers- Market Insights, Competitive Landscape and Market Forecast–2027

Spirometers- Market Insights, Competitive Landscape and Market Forecast–2027

Spirometers Market By Type (Table-Top, Portable), By Technology (Volume Measurement, Flow Measurement), By Application (Asthma, Copd, Cystic Fibrosis, Others), By End-User (Hospitals, Clinics, Home Care), By Geography is expected to grow at a steady CAGR forecast till 2027 owing to rising technological advancement, rise in the burden of COPD and increasing prevalence of respiratory disorders.

Global Spirometers Market was valued at USD 1.03 billion in 2021, growing at a CAGR of 9.32% during the forecast period from 2022 to 2027, to reach USD 1.75 billion by 2027. The demand for Spirometers is primarily attributed to the global prevalence of respiratory disorders like asthma, COPD, and cystic fibrosis, the growing aging population, and technological progress.

Spirometers Market Dynamics:

Spirometers Market has significantly increased due to the growing burden of respiratory diseases across the globe. Respiratory diseases are among the leading causes of death in the world. Chronic obstructive pulmonary disease (COPD) is the third-most-leading cause of death, causing 3.23 million deaths worldwide in 2019, as per World Health Organization (WHO) 2019. As per the same statistics, environmental exposure to tobacco smoke, indoor air pollution, and occupational dust, fumes, and chemicals are important risk factors for COPD.

According to WHO, 2018, one in four or 25% of deaths from COPD in adults in low and middle-income countries are owing to exposure to household air pollution. Household air pollution causes noncommunicable diseases including COPD. Thus, the burgeoning cases of asthma and COPD will contribute to the Global Spirometers Market growth.

An increase in the population of aging and changes in social behavior contributes to the constant increase in these common and expensive long-term health problems. It is predicted that the rising number of elderly patients would transform healthcare delivery and create a larger demand for Spirometers Market. As spirometer is required for analyzing the lung function before surgery and the geriatric population is highly susceptible to diseases and requires treatment and surgery.

For instance, as per the Global Population Aging 2020 Report (United Nations, 2020), the aging population tends to grow at an alarming pace. In 2020, there were around 727 million individuals in the world aged 65 years or older. By 2050, the figure for such patients is expected to double and reach 1.5 billion by 2050.

Companies are developing spirometers with better design and features to make the complicated procedure of pulmonary function testing easier for patients and medical professionals. The major goal is to create spirometers that have a higher yield and provide better patient comfort without causing complications. In addition, companies are implementing novel packing techniques to prevent bacterial infections. Such technological advancements make patient testing processes easier and simpler. Such technological advancement in the field of Spirometers is likely to boost the Global Spirometers Market. Also, the shift in trend from fixed to portable equipment is fuelling the Global Spirometers Market.

COVID-19 outbreak has caused an increased incidence of respiratory diseases. The COVID-19 pandemic had a profound impact on Spirometers across the country. It is anticipated that there will be a surge in the number of patients requiring respiratory support, and there may be an increase in the demand for spirometers, which might fasten the pace of the Spirometers market growth.

Certain factors such as the test are time-consuming and strenuous, lack of understanding of the symptoms, economic burden on low-income countries, and also the high cost of the devices pose a minor hurdle for the growth of the Spirometers market.

Spirometers Market Segments Analysis:

Spirometers Market by Type (Table-Top, Portable), By Technology (Volume Measurement, Flow Measurement), By Application (Asthma, COPD, Cystic Fibrosis, Others), By End User (Hospitals, Clinics, Home Care), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the Spirometers market by type segment, the Portable market segment is expected to be the fastest-growing segment in the Global Spirometers market. The rapid growth of this product segment can be attributed to the growing demand for early and accurate diagnostics and the high adoption of these devices. The growing adoption of Portable Spirometers by hospitals and diagnostic centers around the world is also driving the growth.

Since the beginning of the COVID-19 pandemic, the demand for portable spirometers has been on the rise. Portable spirometers provide accurate measurements as compared to those obtained from laboratory spirometers, and high-quality tracings can be achieved both at home and in the office setting. Also, Portable spirometers are an important contribution to epidemiologic and clinical studies that require frequent measures of a more broad range of pulmonary function parameters than can be provided by peak flowmeters. Therefore, the growing demand for disease treatment, benefits the segment growth of the Spirometers market.

In addition, new product approvals are also likely to upsurge the Spirometers market during the forecasted period. For instance, in July 2021, Tidal Medical Technologies announced that the US Food and Drug Administration (FDA) has issued an Emergency Use Authorization (EUA) for emergency use of the InSee incentive spirometer accessory for quantitatively tracking patient usage of Vyaire Medical's AirLife incentive spirometer, as an aid in the treatment of respiratory conditions by patients with COVID-19 in hospital settings.

Additionally, favorable regulations by the government for the commercialization, adoption of mobile applications devices is expected to enhance the market potential of this equipment. Hence, all the above-mentioned factors are expected to drive the segment growth of the Spirometers market.

North America is expected to dominate the overall Spirometers Market:

North America is expected to dominate the overall Spirometers market during the forecast period. This domination is due to the high adoption of technological advancements and the improved reimbursement policies owing to the rise in healthcare expenditure by the US government.

Further, the United States represents the largest market worldwide supported by the prevalence of respiratory disease that will boost the market growth. In fact, according to the CDC (2020), 19.2 million adults in the US have asthma in 2019. Moreover, developed healthcare infrastructure and strong adoption of advanced technologies will also promote the growth of the Spirometers Market.

Rapid urbanization, increase in disposable income, improved government funding towards chronic disorders management, and growing awareness about early diagnosis of diseases are some of the key factors that are likely to drive the Spirometers market in the region.

Europe and Asia-Pacific region have the future potential growth for the Global Spirometers market. This is owing to the rising burden of the geriatric population in the European region countries and Asian countries. As per the European Respiratory Society (2019), in the whole of Europe, about 30 million children and adults under 45 years of age have asthma. In most European countries, the prevalence and perhaps incidence of asthma increases substantially.

Rising product launch and commercialization agreements among the key manufacturers and other companies in the region are expected to boost the market. For instance, the launch of the Uscom digital ultrasonic SpiroSonic AIR spirometer has received European CE mark approval on May 2021, in the region by Uscom (UCM), such launces and approvals are expected to propel the market growth of Spirometers in the region.

Also, rising respiratory diseases is one of the leading factors in the European region which creates an increase in demand for Spirometers. Thus, early diagnosis of these diseases for effective and efficient management can propel the Spirometers market in the region.

Spirometers Market Key Players:

Some of the key market players operating in the Spirometers market include Hill Rom, Inc., Teleflex Incorporated, Vyaire Medical Inc., Fukuda Sangyo Co., Ltd., Chest M.I., Inc., Midmark Corporation, Futuremed USA, COSMED, MGC Diagnostics Corporation, NDD Medical Technologies, Schiller AG, MIR, Sibelmed, Smiths Medical PLC, Vitalograph, Jones Medical Instrument Company, Contec Medical Systems Co., Ltd., Medikro Oy, Clarity Medical, KoKo PFT and others.

Recent Developmental Activities in the Spirometers Market:

• In January 2020, US FDA cleared NuvoAir's connected spirometer device. Air Next is designed for patients with respiratory conditions such as asthma, COPD, and cystic fibrosis. Respiratory monitor maker NuvoAir (formerly Pond Healthcare Innovation) has picked up its first FDA 510(k) for Air Next, a portable and connected home-use spirometer device.
• In September 2020, Medical breath analysis company, Bedfont Scientific launched an incentive spirometer, Breathacise.

Key Takeaways from the Spirometers Market Report Study

• Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Spirometers market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the Global Spirometers Market.
• Various opportunities are available for the other competitor in the Spirometers Market space.
• What are the top-performing segments in 2021? How these segments will perform in 2027?
• Which are the top-performing regions and countries in the current market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Spirometers market growth in the coming future?

Target Audience who can be benefited from this Spirometers Market Report Study

• Spirometers providers
• Research organizations and consulting companies
• Spirometers related organization, association, forum, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders in Spirometers
• Various End-users want to know more about the Spirometers Market and the latest technological developments in the Spirometers market.

Frequently Asked Questions for Spirometers Market:

1. What are Spirometers?

Spirometers are devices used to determine the amount of air exhaled and inhaled by the lungs during respiratory treatment.

2. What is the market for Global Spirometers?

Global Spirometers Market was valued at USD 1.03 billion in 2021, growing at a CAGR of 9.32% during the forecast period from 2022 to 2027, to reach USD 1.75 billion by 2027.

3. What are the drivers for Global Spirometers?

The major drivers driving the demand for Spirometers are the prevalence of respiratory disorders like asthma, COPD, and cystic fibrosis, the growing aging population, and the technological progress towards smartphone-based data acquisition.

4. What are the key players operating in Global Spirometers?

Some of the key market players operating in the Spirometers market includes Hill Rom, Inc., Teleflex Incorporated, Vyaire Medical Inc., Fukuda Sangyo Co., Ltd., Chest M.I., Inc., Midmark Corporation, Futuremed USA, COSMED, MGC Diagnostics Corporation, NDD Medical Technologies, Schiller AG, MIR, Sibelmed, Smiths Medical PLC, Vitalograph, Jones Medical Instrument Company, Contec Medical Systems Co., Ltd., Medikro Oy, Clarity Medical, KoKo PFT and others.

5. Which regions have the highest share in the Spirometers market?

North America is expected to dominate the overall Spirometers market during the forecast period, 2022 to 2027. This domination is due to the improved reimbursement policies, and high adoption of technological advancements owing to the rise in healthcare expenditure by the US government.

Please Note: It will take 7-10 business days to complete the report upon order confirmation.