Spirometer Market Worth $2.26 Billion By 2030 | CAGR: 10.13%

 Spirometer Industry Overview

The global spirometer market size is expected to reach USD 2.26 billion in 2030, expanding at a CAGR of 10.13% during the forecast period, based on a new report by Grand View Research, Inc. The prevalence of chronic respiratory diseases is rising among adults as well as children across the globe.

 

The guidelines for the diagnosis and treatment of asthma in children and the Global Initiative on Asthma (GINA) guidelines recommend the usage of spirometry more frequently for asthma. GINA published a 2020 update for the Global Strategy for Asthma Management and Prevention, which includes information about asthma after reviewing the scientific literature and contains citations from the scientific literature.

 

Spirometer Market Segmentation

Grand View Research has segmented the global spirometer market based on type, technology, application, end use, and region:

Based on the Type Insights, the market is segmented into Hand Held, Table Top, and Desktop.

  • The tabletop segment dominated the spirometer market and accounted for the largest revenue share of 43.6% in 2021. The market is expected to grow at a rapid pace due to its widespread application in the treatment of respiratory diseases, including asthma, COPD, and other pulmonary diseases.
  • The desktop spirometers segment is expected to register the fastest growth of 10.53% compound annual growth rate (CAGR) during the forecast period as they provide integrated clinical information for enhanced clinical decisions. They can reduce the burden of paperwork.

 

Based on the Technology Insights, the market is segmented into Volume Measurement, Flow Measurement, and Peak Flow Measurement.

  • The flow measurement segment dominated the market and accounted for a share of 66.7% in 2021. This is owing to its wide applications in pulmonary function testing. These spirometry devices are typically based on tabletop technology and have no moving parts, which makes them easier to handle.
  • The peak flow measurement segment is expected to witness the maximum growth at a 10.85% compound annual growth rate (CAGR) during the forecast period from 2022 to 2030. Peak flow measurement devices can provide warnings before an asthma attack by indicating the contraction of lung airways.

 

Based on the Application Insights, the market is segmented into Asthma, COPD, Cystic Fibrosis, Pulmonary Fibrosis, and Others.

  • The COPD segment dominated the market, reaching a valuation of USD 381.4 million in 2021. This is due to the high number of people suffering worldwide from mild to severe COPD and the easy diagnosis of COPD through spirometry. In Europe, the prevalence of COPD was estimated to be around 7.6%. Spirometry plays an extremely important role in the diagnosis and monitoring of COPD.
  • The asthma segment is expected to witness the fastest growth at a 10.77% compound annual growth rate (CAGR) during the forecast period from 2022 to 2030. The economic burden caused by asthma on the NHS is around 1 billion every year. Globally, asthma incidence among children is approximately 14%, and the yearly cost of asthma treatment in the United States is over USD 18 billion.

 

Based on the End-use Insights, the market is segmented into Hospitals And Clinics, and Home Healthcare.

  • The home healthcare segment is expected to witness the highest growth at a 10.75% compound annual growth rate (CAGR) during the forecast period. Homecare for patients with respiratory diseases reduces morbidity, improves the overall quality of life, and increases their chances of survival.
  • The hospitals and clinics segment dominated the spirometer market with a share of 63.0% in 2021 as spirometry is extensively performed in hospitals and clinics for diagnosis and monitoring of chronic respiratory disorders. The rapidly growing aging population, the increase in reimbursements for clinical tests performed in hospitals, and the launch of advanced devices are the factors driving the growth of the segment
  • The adoption of telemedicine and the launch of new products are factors likely to boost segment growth. For instance, in July 2020, a survey conducted in the U.K. revealed that CF patients monitoring their lung functions at home using NuvoAir’s smartphone application and handheld spirometer observed a 30% reduction in their scheduled & urgent in-person consultations.

 

Spirometer Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

The market for spirometers consists of a combination of respiratory devices manufacturers and standalone spirometer manufacturers. New technological improvements such as the adoption of artificial intelligence will create growth opportunities for new players to enter the market. For instance, NuvoAir-a Swedish respiratory health startup-developed a technology platform that enables users to conduct at-home lung function assessments.

Companies are competing to acquire the market share, especially in technologically advanced nations such as the U.K., Germany, and the U.S. The market has witnessed acquisitions and collaborations between market players to strengthen their presence. For instance, in January 2020, NuvoAir partnered with Roche Italy, wherein Roche will distribute NuvoAir’s digital respiratory technology to cystic fibrosis centers across Italy. This is expected to intensify the competition in the market over the forecast period.  Some of the prominent players in the global spirometer market include:

  • Schiller
  • Smiths Medical
  • Vyaire Medical, Inc.
  • SDI Diagnostics
  • nSpire Health Inc.
  • Fukuda Sangyo Co. Ltd.
  • Sibelmed
  • Vitalograph
  • Geratherm Respiratory AG
  • Koninklijke Philips N.V.
  • Welch Allyn

 

Order a free sample PDF of the Spirometer Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

Comments

Post a Comment

Popular posts from this blog

Global Outlook for Odometer Sensor Industry; Market Research Report 2021

Odometer Sensor Report by Material, Application, and Geography - Global Forecast to 2021 is a professional and comprehensive research report on the world's major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, United Kingdom,Japan, South Korea and China). In this report, the global Odometer Sensor market is valued at USD XX million in 2017 and is projected to reach USD XX million by the end of 2021, growing at a CAGR of XX% during the period 2017 to 2021. Download Free Sample Report @ https://www.radiantinsights.com/research/global-odometer-sensor-market-report-and-forecast-to-2021/request-sample The report firstly introduced the Odometer Sensor basics: definitions, classifications, applications and market overview; product specifications; manufacturing processes; cost structures, raw materials and so on. Then it analyzed the world's main region market conditions, including...
Read more

Global Pressure Sensor Market: Industry Insights, Top Key Players Analysis, Business Strategies and Trend Evaluation Forecast by 2016-2021

A pressure sensor measures pressure, typically of gases or liquids. Pressure is an expression of the force required to stop a fluid from expanding, and is usually stated in terms of force per unit area. A pressure sensor usually acts as a transducer; it generates a signal as a function of the pressure imposed. For the purposes of this article, such a signal is electrical. Download Free Sample Report @ https://www.radiantinsights.com/research/global-pressure-sensor-market-outlook-2016-2021/request-sample This report provides detailed analysis of worldwide markets for Pressure Sensor from 2011-2015 and provides extensive market forecasts 2016-2021 by region/country and subsectors. It covers the key technological and market trends in the Pressure Sensor market and further lays out an analysis of the factors influencing the supply/demand for Pressure Sensor, and the opportunities/challenges faced by industry participants. It also acts as an essential tool to companies active across th...
Read more

Innovations and Trends in the Window Treatment Market

  Window Treatment Industry Data Book | Forecast 2030 Window Treatment Industry Data Book - Blinds & Shades, Curtains and Shutters Market Grand View Research’s window treatment industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.   Access the Global Window Treatment Industry Data Book, 2023 to 2030 , compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies   Blinds And Shades Market Report Highlights North America...
Read more