Spirometer Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Handheld Spirometers, Table-Top Spirometers, and Desktop Spirometers), Technology (Volume, Flow, and Peak Flow), and Application (Asthma, Chronic Obstructive Pulmonary Disease, Cystic Fibrosis, and Others)
Publication Month: Jul 2022 | Report Code: TIPRE00018813 | No. of Pages: 183 | Category: Medical Device | Status: Published
The spirometer market is expected to grow from US$ 893.71 million in 2021 to US$ 1,907.36 million by 2028. It is estimated to grow at a CAGR of 11.5% during 2022–2028.
A spirometer is a diagnostic device that measures the circulation of air into and out of the lungs. Obstructive and restrictive aberrant ventilation patterns are identified using the spirogram. A spirometer is the primary preferred equipment used for basic pulmonary function tests (PFTs). The tests may rule out lung illnesses, including asthma, bronchitis, and emphysema. Furthermore, a spirometer is frequently used to determine the cause of breath shortness, analyze the influence of pollutants on lung function, the effect of medicine, and evaluate the treatment progress of the disease.
Strategic Insights
The spirometer market is segmented based on type, technology, application, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. This report offers insights and in-depth analysis of the market, emphasizing parameters, such as market trends and market dynamics, and the competitive analysis of the globally leading market players.
Lucrative Regions for Spirometer Market
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Market Insights and Developments
Rising Prevalence of Respiratory Diseases Drives Spirometer Market
Rising Prevalence of Respiratory Diseases Drives Spirometer Market
The higher prevalence of respiratory disorders is related to the decrease in the size of the upper airway lumen in the aging population. Lung diseases are among the most common medical conditions across the world. Further, millions of people are suffering from various types of respiratory diseases. Moreover, smoking, genetic factors, and infections are among the common factors responsible for respiratory diseases. Medical conditions, including asthma, chronic obstructive pulmonary disease (COPD), chronic bronchitis, cystic fibrosis, and lung cancer, are significant public health burdens. Patients suffering from respiratory disorders commonly experience difficulty in breathing. Further, early detection and diagnosis can help in treating patients suffering from respiratory diseases. To treat these patients, spirometry is a crucial technology that assists in indulging in the severity of the infection and avoids misdiagnosis. Thus, the increasing incidence of respiratory diseases drives the growth of the market.
A few developments by companies are listed below:
- In January 2022, ICU Medical announced that it has completed its acquisition of Smiths Medical from Smiths Group plc. The Smiths Medical business includes a syringe and ambulatory infusion devices, vascular access, and vital care products. When combined with ICU Medical’s existing businesses, the combined companies create a leading infusion therapy company with estimated pro forma combined revenues of ~US$2.5 billion.
- In December 2021, Baxter announced the acquisition of Hill-rom. This combination unlocked the next phase of the company's transformation for greater impact on patients, employees, clinicians, and shareholders worldwide. Hill-Rom is among the leading manufacturers of spirometry products.
- In February 2020, COSMED acquired assets of Innovision ApS, a Danish Company with significant know-how and expertise in the design of products for hemodynamic (cardiac output), ventilation heterogeneity (lung clearance index), and metabolic measurements (VO2Max).
- In August 2019, Hill-Rom entered a definitive agreement to acquire Breathe Technologies, Inc., developer and manufacturer of a patented wearable, noninvasive ventilation technology that supports improved patient mobility, for a cash consideration of US$130 million.
Such developments by market players are driving the spirometer market.
Type Insights
Based on type, the spirometer market is segmented into handheld spirometers, table-top spirometers, and desktop spirometers. The table-top spirometers segment holds the largest market share in 2022. However, the handheld spirometers segment is anticipated to register the highest CAGR during the forecast period due to the emergence of small, lightweight, and easily portable handheld spirometers becoming universal in the industry.
Spirometer Market, by Type – 2022 and 2028
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Technology Insights
Based on Technology, the spirometer market is segmented into volume, flow, and peak flow. In 2022, the flow segment holds the largest market share. However, the peak flow segment is expected to register the highest CAGR from 2022 to 2028, due to its working pattern as patients blow into a mouthpiece at one end of the device, and the peak flow meter measures the force of the air flowing out of the lungs in liters per minute.
Application Insights
Based on application, the spirometer market is segmented into asthma, chronic obstructive pulmonary disease, cystic fibrosis, and others. In 2022, the chronic obstructive pulmonary disease segment holds the largest share of the market. Moreover, the same segment is expected to register the highest CAGR from 2022 to 2028, owing to the growing prevalence of COPD and the adoption of easy diagnosis of COPD offered by spirometry.
Organic developments, including product launches, are highly adopted strategies by the global spirometer market players. A few of the recent key market developments are listed below:
- In November 2021, COSMED launched the 2nd generation of OMNIA software, the most comprehensive data management platform for metabolic, lung function, and body composition assessment.
- In April 2021, the US FDA cleared NuvoAir's Air Next connected spirometer device. According to the FDA’s premarket notification database, the Stockholm, Sweden-based company submitted its application in November 2018.
Spirometer – Market Segmentation
The global spirometer market is segmented based on type, technology, application, and geography. Based on type, the market is segmented into handheld spirometers, table-top spirometers, and desktop spirometers. Based on technology, the market is segmented into volume, flow, and peak flow. Based on application, the spirometer market is segmented into asthma, chronic obstructive pulmonary disease, cystic fibrosis, and others. By geography, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.
Company Profiles
- Jones Medical Instrument Company
- Benson Medical Instruments Co.
- Nuvoair AB
- Teleflex Incorporated
- Vyaire Medical, Inc.
- COSMED srl
- Depisteo LLC
- Henry Schein, Inc
- Baxter International Inc.
- ICU Medical Inc.
Frequently Asked Questions
The List of Companies - Spirometer Market
- Jones Medical Instrument Company
- Benson Medical Instruments Co.
- NUVOAIR U.S, INC. (NUVOAIR AB)
- Teleflex Incorporated
- VYAIRE MEDICAL, INC.
- COSMED Srl
- Depisteo LLC.
- Henry Schein, Inc.
- Baxter International Inc.
- ICU Medical Inc.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global spirometer market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global spirometer market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
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