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Spirometer Market Size Estimated to Reach $2.1 Billion by 2026

admin by admin
February 19, 2022
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(EMAILWIRE.COM, February 19, 2022 ) The global Spirometer Market size is estimated to reach $2.1 billion by 2026, growing at a CAGR of 11.1% during the forecast period 2021-2026. Spirometers are used to measure the lung function of patients by gauging the volume of air that is being inhaled and exhaled by the lungs. They also assess how fast an individual can inhale and exhale air from their lungs. The data needed for diagnostics are collected by the machine when the patient breathes in and out of the machine tube. Spirometers can help diagnose respiratory diseases such as Pulmonary Fibrosis, Cystic Fibrosis, Asthma, and Chronic Obstructive Pulmonary Disease (COPD). The rising aging population and implementation of smartphone-based data acquisition technology are major market drivers in the Spirometer industry.

Spirometer Market Segment Analysis – By Product Type

The Spirometer Market based on the product type can be further segmented into Table Top, Hand Held, and Desktop. The Table Top is the largest and fastest-growing segment with a CAGR of 11.7% during the forecast period. The large market size and growth of Table Top Spirometers are attributed to the technological advancements made in the segment. The innovations in the Table Top segment allow them to have inbuilt printers, LCD screens, rechargeable batteries, and so on. The Desktop Spirometers are also forecast to experience high growth during the forecast period as they deliver more accurate results in comparison to other product segments. The increase in chronic respiratory patients has increased the demand for compact and portable spirometers that can be used in a household setting. This will lead to a rise in demand for Handheld spirometers.

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Spirometer Market Segment Analysis – By Application Type

Based on Application, the market is segmented into COPD, Cystic Fibrosis, Pulmonary Fibrosis, and Asthma. Of these, COPD accounts for the largest market share. In 2020, it was estimated that there were 65 million people suffering from moderate to severe COPD globally. An increase in pollution, urbanization, and growth in tobacco products usage will further increase the market size of this segment. However, the Asthma segment is predicted to register the highest growth with a CAGR of 11.5% during the forecast period. The global increase in both indoor and outdoor pollutants is expected to cause further growth in Pulmonary Fibrosis cases during the forecast period. This, along with an increase in global awareness of chronic respiratory illnesses will boost the demand for Spirometers.

Spirometer Market Segment Analysis – By Geography

The Spirometer Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 34% of the overall Global Spirometers market in 2020. The high rate of COPD and asthma in the region along with an increase in the adoption of advanced technology are the major reasons for the segment’s growth. The US alone is estimated to have over 25 million asthma and 24 million COPD patients. The Asia Pacific is anticipated to have the fastest growth, owing to a rapid rise in population, urbanization, and pollution levels in countries such as China and India. India alone houses 14 of the 20 most polluted cities in the world. This will drastically increase the prevalence of chronic respiratory illnesses in the region and thereby, increase demand for Spirometers.

Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=16839

Spirometer Market Drivers

Rise in urbanization and air pollution is anticipated to boost demand for Spirometer

With the increase in air pollution levels and rapid deforestation in emerging economies such as China, India, and Brazil, the dust and smoke particles responsible for causing chronic respiratory illnesses such as COPD and asthma will rise. Moreover, the lack of stringent laws and regulations regarding automobile pollution in such regions is expected to further worsen pollution. This will directly increase the demand for spirometers as they are one of the primary diagnostic tests to determine lung function.

Global spread of Covid-19 and its long-term effects on patients is projected to drive growth

There are more than 217 million recorded Covid-19 cases worldwide with the actual infection numbers predicted to be significantly higher. The spread of the disease and its complications have led to a rise in chronic lung disorders among recovering Covid-19 patients. Thus, the spread of Covid-19 will drive the spirometer market demand during the forecast period, especially in the US, European, and Asia Pacific regions.

Spirometer Market Challenges:

Lack of developed healthcare infrastructure and awareness among patients in developing regions is anticipated to hamper growth

Despite the high prevalence of chronic respiratory illnesses such as Asthma and COPD in developing regions of Asia and Africa, the dearth of proper healthcare infrastructure has impacted the penetration of Spirometer in these markets. The hospitals and clinics in the region often face a shortage of funds to purchase Spirometers and lack skilled professionals to operate them. This is a major challenge that can hamper market growth.

High dependency on patients for accurate measurements limits growth opportunities

Spirometers depend extensively on the performance of patients for providing accurate measurements for doctors to analyze. This can be a major challenge especially when the patient is elderly or a child as they may not be able to understand the instructions given by the medical professional. The test has 3 breathing exercises which the patient may find to be tiresome or difficult. This also acts as an important challenge for the adoption of personalized Spirometers owing to the high chances of patients not following the necessary procedures accurately in the absence of a medical professional.

Spirometer Market Competitive Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Spirometer Market. The top 10 companies of the Spirometer market are-

Schiller

Smiths Medical

Vyaire Medical

SDI Diagnostics

Nihon Kohden Corporation

nSpire Health

Fukuda Sangyo

Sibelmed

Labtech

Vitalograph

Partnerships/Product Launches:

In January 2020, NuvoAir formed a partnership with Roche Italy in which Roche will be distributing NuvoAir’s digital respiratory technology to cystic fibrosis centers in Italy.

In 2020, Smiths Medicals announced the launch of a new Polyvinyl Chloride (PVC) tracheostomy tube. The tube aids in the care of patients with tracheostomy.

In 2020, Fukuda Sangyo having Dynamic Lung Hyperinflation (DLH) launched the Spiro Analyzer ST-190 which allows eliminating the need for walking and treadmill tests that may be dangerous for the patient.

Key Takeaways:

Geographically, North America is predicted to have the largest Spirometer market share in 2021 owing to the rapid rise in chronic respiratory illnesses among the population and the presence of well-developed healthcare infrastructure.

The increase in illnesses such as Cystic Fibrosis and COPD as a result of rapid urbanization and air pollution in developing and developed nations are major drivers in increasing demand for Spirometers. However, lack of awareness of lung disorder symptoms among the low-income population in developing nations is a major challenge to the Spirometer industry.

Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Spirometer Market report.

Related Reports:

A. Respiratory Disease Testing/Diagnostics Market

https://www.industryarc.com/Research/Respiratory-Disease-Testing-Diagnostics-Market-Research-503770

B. Respiratory Devices Market

https://www.industryarc.com/Report/16227/respiratory-devices-market.html

For more Lifesciences and Healthcare Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.



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