Overview:

The global Spirometry market is witnessing a significant rise in its revenues, mainly due to the rising occurrences of respiratory diseases such as asthma and COPD. Besides, the growing rate of diagnosis processes conducted for the detection of interstitial pulmonary fibrosis fosters the growth of the market. Moreover, the increasing exposure to risk factors and the ever-increasing population is driving a large share of the market.

Market Insights

According to the reports published by Market Research Future Reports, the global Spirometry Market size is probable to exhibit a 10.03% CAGR from 2018 to 2023 and is also on the verge to reach USD 1,106.76 million by 2023. Such a humongous market growth can be attributed to the strident rise in the cases of chronic obstructive pulmonary disorders (COPD) and asthma.

Spirometry is considered as a basic test, which is conducted by clinicians to estimate the status of lungs. It is an essential test for diagnosing asthma, COPD, and other breathing disorders.  Thus, spirometers are used to carry out the tests.

Global Spirometry Market: Drivers & Trends

The factors such as emerging chronic respiratory diseases globally, increasing global aging population, and technological shifts in spirometer devices toward smartphone-based data connectivity and analysis are expected to drive the global spirometry market exponentially during the forecast period. With that, emerging economies with growing industrialization are also contributing to driving the market with opportunities for the future in substantial ways.

More stimulating factors such as government initiatives to restrain smoking habits of people, focus on breathing diseases, rising levels of air pollution, and expanding awareness towards the adoption of spirometers at homes are noticeably auguring the global spirometry market growth. Even awareness of reimbursement policies among the public and clinicians are also projecting to be the drivers for patients towards taking these tests. On the flip side, the high costs of spirometers may act as a restrictive factor against the market and hinder the global spirometry market growth.

Furthermore, the rising geriatric population is also anticipating being the factors for the increase in the demand for spirometers to analyze respiratory patterns. The need for spirometers is also probable in the rise due to a high number of surgeries in hospitals and clinics. These factors are tremendously driving the global spirometry market to rise high at a higher CAGR in the years to come.

Segmental Overview

According to the reports published by MRFR, the global spirometry market has been segmented by product, technology, application, and end-user.

By the mode of products, the market includes table-top spirometry, hand-held spirometry, and desktop (PC) spirometry.

By the mode of technology, the market has been segmented into volume measurement spirometry, peak flow meters (PFM), and flow measurement spirometry.

By the mode of application, the spirometry market is segmented into diagnostic and treatment monitoring.

Moreover, by the mode of end-users, the market includes research & academic institutes, diagnostic centers, hospitals & clinics, and home care.

Regional Outlook

Geographically, the market of spirometry has covered some main regions such as Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

Among these, Asia Pacific is expected to register the highest CAGR for the market to proliferate during the forecast period. Growth of this market in the Asia Pacific region is driven mainly by the large population of the patient and a high prevalence of chronic respiratory diseases.

While North America has the largest market for spirometers owing to technological advancements, government regulations, rise in incidences of respiratory diseases, increasing healthcare expenditure, and improved healthcare infrastructure.

Key Players

In the end, here are the prominent players in the spirometry market, they are Carefusion Corporation (U.S.), NDD Medical Technologies, Inc. (U.S.), Nihon Kohden Corporation (Germany), MGC Diagnostics Corporation (U.S.), Vitalograph (U.K.), Schiller AG (Switzerland), COSMED srl (Italy), Hill-Rom Holdings, Inc. (U.S.), Midmark Corporation (U.S.), Smiths Medical Inc. (U.S.), and Koninklijke Philips N.V. (The Netherlands).

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Global Spirometry Market Research Report, by Product (Table-top Spirometry, Hand-held Spirometry, Desktop Spirometry), by Technology (PFM, Volume Measurement Spirometry, Flow Measurement Spirometry), by Application (Diagnostic, Treatment Monitoring), by End-user (Hospitals & Clinics, Home Care, Diagnostic Centers, Research & Academic Institutes), and Region - Forecast to 2023

Spirometry Market Overview:

The global spirometry market is expecting to touch a valuation of USD 1,106.46 million by 2023, according to Market Research Future (MRFR).  The high prevalence of respiratory disorders is the major factor driving the market growth from 2018 to 2023 (forecast period). Rising cases of chronic obstructive pulmonary disorders (COPD), technological advances in respiratory care devices, and the expanding geriatric population are factors expected to spur market demand till 2023. As per a report by Asthma UK in 2016, nearly 1,410 people died from asthma.

Government initiatives to curtail smoking market habits, focus on breathing diseases, rising levels of air pollution, and adoption of spirometers at homes are factors likely to augur growth. Awareness of reimbursement policies among the public and clinicians are projected to drive patients towards taking these tests. But high costs of spirometers can act as a deterrent against market growth.

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Spirometry Market Segmentation:

The spirometry market can be segmented by product, technology, application, and end-user.

By product, the market is segmented into table-top spirometry, hand-held spirometry, and desktop (PC) spirometry. The table-top spirometry segment accounted for 49.9% market share in 2017, followed by hand-held (31%), and desktop (19.1%). This can be attributed to adoption of spirometers in hospitals and clinics. But the desktop segment is touted to register the highest CAGR of 10.58% during the forecast period owing to its rapid diagnosis rate and increasing use of computer-based applications.

By technology, the market covers flow measurement spirometry, volume spirometry, and peak flow meters (PFM). The flow measurement spirometry segment accounted for 50.3% share in 2017. This can be attributed to its lightweight nature and compact size. Its functionality based on the familiar table-top spirometer technology and lack of frequent calibration make it popular among clinicians. But the PFM technology can register 10.58% CAGR over the forecast period to reach USD 149.76 million by 2023.

Major applications of the spirometry market include diagnostic and treatment monitoring. The diagnostic segment is further sub-segmented into asthma, interstitial pulmonary fibrosis, and COPD. The diagnostic segment accounted for 68.93% share of the market in 2017, spurred by the prevalence of breathing diseases such as asthma. But the treatment monitoring segment can exhibit the highest CAGR during the review period to reach a valuation of USD 353 million by 2023. Its valuation in 2018 was suggested to be USD 214.12 million.

Key market end-users include hospitals & clinics, research & academic institutes, diagnostic centers, and home care. The home care segment is projected to enjoy a 9.90% CAGR to reach a valuation of USD 71.14 million by 2023 from USD 44.38 million in 2018.

Spirometry Market Regional Analysis:

The spirometry market covers the latest trends and opportunities across Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

The Americas accounted for 39.74% share in the global market in 2017, followed by Europe and APAC. This can be attributed to economies such as the U.S. which are the earliest adopters of latest technologies coupled with the large patient pool suffering from respiratory disorders. The region is likely to enjoy a 10.25% CAGR over the forecast period.

The Europe spirometry market is expected to enjoy a CAGR similar to the Americas market over the forecast period to touch a valuation of USD 322.33 million by 2023. This can be credited to rising number of asthma cases and ballooned healthcare expenditure of nations such as Germany and France.

The MEA region can experience a respectable CAGR during the review period owing to improvements of healthcare infrastructure and enhanced healthcare budgets of Kuwait, Qatar, and Dubai.

The APAC region is expected to exhibit a 10.94% CAGR over the forecast period owing to high cases of chronic diseases, awareness of respiratory devices, and increased healthcare budgets of developed nations in the region. The growing geriatric populace in China and Japan can contribute to regional market revenue till 2023.

Spirometry MarketCompetitive Dashboard:

Key players in the spirometry market include Smiths Medical Inc. (U.S.), Vitalograph (U.K.), MGC Diagnostics Corporation (U.S.), Hill-Rom Holdings, Inc. (U.S.), Schiller AG (Switzerland), COSMED srl (Italy), Midmark Corporation (U.S.), NDD Medical Technologies, Inc. (U.S.), Carefusion Corporation (U.S.), Nihon Kohden Corporation (Germany), and Koninklijke Philips N.V. (The Netherlands).

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