Spirometer Market Size, Share & COVID-19 Impact Analysis, By Product Type (Devices, Software, Accessories & Consumables), By Type (Volume Measurement and Peak Flow Meters), By Application (Chronic Obstructive Pulmonary Disorder (COPD), Asthma, and Others), By End User (Hospitals, Diagnostic Centers, Homecare Settings, Physician/Primary Care Offices or Clinics, and Other Facilities), and Regional Forecasts, 2021-2028

The global spirometer market size was USD 528.6 million in 2020. The market is projected to grow from USD 554.5 million in 2021 to USD 789.0 million in 2028 at a CAGR of 5.2% during 2021-2028. The global impact of COVID-19 has been unprecedented and staggering, with global spirometer market growth witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a lower growth of 4.8% in 2020 as compared to the average year-on-year growth rate during 2017-2019. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

According to the Forum of International Respiratory Societies (FIRS), chronic respiratory diseases cause an immense worldwide health burden. It has been estimated that around 235 million people have asthma, while more than 200 million people suffer from COPD. Besides, asthma is the most common cause of respiratory illness, affecting 14% of the children globally and is rising. For example, according to World Health Organization (WHO), Asthma affected approximately 262 million people in 2019 and affected 461000 deaths. Therefore, the increasing prevalence of diseases is the major factor contributing to the higher sales of these devices. Spirometry is the basic lung function test required to diagnose and treat COPD, asthma, and other respiratory disorders. The launch of technologically advanced devices and software has surged the demand for these products contributing to the expansion of the market.

COVID-19 Leads to Disruption in Supply Chain of Medical Devices

The novel coronavirus has remarkably influenced the market dynamics of the healthcare sector globally. The pandemic has caused disruptions in the supply chain of medical devices worldwide. For instance, some major players operating globally have supply disruptions, especially from distributors in China. Meanwhile, certain players have been impacted due to the lack of locally sourced raw materials or parts. For instance, Vitalograph, one of the manufacturers of spirometry devices based in Ireland, have faced production issues since some of the parts are procured from China. Considering various factors associated with the regional spread of COVID-19, the market is expected to experience a decline in its growth in 2020.

Because a majority of the Pulmonary Function Tests (PFTs) labs and testing centers are being closed in the potentially affected areas, the industry is expected to limit the number of patients opting for COPD treatment drastically. On the other hand, multiple organizations operating in the countries such as the American Thoracic Society, Canadian Thoracic Society, and European Thoracic Society have issued guidelines to be followed amid the COVID-19 outbreak while resuming the services. This will increase the test volume measurement and demand for these devices, thereby boosting the market growth in the near future.

LATEST TRENDS

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Growing Investment Opportunities to Drive Market Growth

Owing to the growing demand for accurate devices for lung function assessment, the major players are focusing on investments to develop advanced devices. Various established players and new start-ups seek funding to carry out research and hospital and clinical testing of the pulmonary testers. For instance, In June 2021, NuvoAir, a Stockholm-based digital health company, raised USD 12 million to expand its chronic disease management and clinical trial platforms. The funding was directed by AlbionVC and comes on the back of a record 500% growth for the first quarter of 2021. The platform's technologies comprise Bluetooth-enabled spirometers that can be used to to monitor lung function remotely, a sensor connected to asthma and COPD inhalers, and Fitbit integration.

Government and private organizations such as National Science Foundation and the European Union Horizon Program are actively collaborating with research institutes and start-ups to develop devices for the management and diagnosis of respiratory diseases such as COPD and asthma. For instance, in July 2020, NanoVation, a start-up company involved in developing devices for COPD patients, received a grant worth USD 2.0 million from the European Union’s Horizon 2020 EIC Accelerator program for their SenseGuard device. This device is based on nano-sensor technology, which is wearable and used to monitor patients' breathing continuously. Such initiatives by the industry players are likely to expand the market potential of the spirometry devices.

DRIVING FACTORS

Increasing Technological Advancement in Diagnostic Tools to Surge Demand

Lung function tests are essential to evaluate the core functioning of the lungs. By assessing PFTs, which include lung volumes, lung capacities, rates of flow, and gas exchange, physicians get the information that aids in diagnosing multiple lung disorders, especially COPD. Technological developments are expected to have a huge impact on the market. High investments by the key market players for the extensive research and development of novel and advanced diagnostic and monitoring technologies are expected to enable the early diagnosis of COPD.

The underutilization of the pulmonary function tests has been overcome by developing portable, hand-held, and user-friendly spirometry devices. For instance, in January 2020, NuvoAir’s connected spirometer received U.S FDA approval for sale across the country. The device is designed for indications such as COPD, asthma, and cystic fibrosis. Thus, constant innovations are one of the growth factors responsible for driving the market.

Rising Prevalence of COPD to Propel Product Sales

COPD is the third leading cause of death globally and presents a significant burden on patients and health services. According to the National Heart, Lung, and Blood Institute, COPD is the leading cause of death in the U.S., affecting about 16 million Americans. The major risk factor for COPD includes tobacco smoking. However, other environmental exposures such as air pollution and biomass fuel exposure may also contribute to severe health implications. The increasing prevalence of the disorder is an alarming situation worldwide that propels the demand for diagnostic devices during the forecast period.

RESTRAINING FACTORS

Dearth of Skilled Professionals to Limit Device Adoption

Despite the higher prevalence of asthma and COPD globally, certain factors limit the adoption of these devices. Among them, the lack of skilled workforce for conducting diagnostic tests is anticipated to restrain growth. Pulmonary function testing is a series of different breathing tests, which trained pulmonary function technologists can lead. However, there is a shortage of skilled healthcare professionals in developing countries. The emigration of healthcare workers to developed countries is the main reason for this shortage. The tendency to migrate to higher economic countries is primarily owing to the search for better wages and working conditions.

According to the World Health Organization (WHO), it is estimated that there is about 14.5 million global health workforce shortage faced by the Sustainable Development Goals (SDGs) and the Universal Health Coverage (UHG). Out of this, the African region faces a high shortage of health workforce that is expected to reach 6.1 million by 2030. This coupled with other factors such as the closure of PFT labs, diagnostic centers during the COVID-19 outbreak, and limited awareness in underdeveloped countries, is anticipated to hamper the market growth.

SEGMENTATION

By Product Type Analysis

Need for Diagnostic Test to Lead Higher Adoption of Devices

On the basis of product type, the market includes devices, software, and accessories & consumables.

The global market is witnessing significant technological advancements with an aim to improve testing capabilities. This has led to an increased demand for advanced devices. Moreover, start-ups and key players have started investing in the market to develop devices for effective management of respiratory diseases. For example, in September 2019, Aluna, a company focused on developing solutions for asthma management, received a grant from the National Science Foundation (NSF) to develop a user-friendly mobile device with a mobile application for asthma patients. The company has received a total of USD 1.1 million in grants to fund this project, which is likely to increase the devices' product sales and market value.

The software segment is likely to showcase significant growth due to the launch of advanced software solutions to manage testing procedures. Furthermore, due to the COVID-19 pandemic, the customer base has approached the online platform to manage spirometry testing, thus expanding the market size for the software segment.

The accessories & consumables segment is anticipated to have a considerable share in the market owing to the reusability of the devices, leading to higher demand for accessories such as tubes, syringes, and filters.

By Type Analysis

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Accuracy of Volume Measurement to Lead Dominance

On the basis of type, the market includes volume measurement and peak flow meters. The volume measurement devices held a dominant share in the market in 2020. The dominance is attributable to its characteristic of producing accurate results with an ease of handling the device. The volume measurement segment is projected to register a higher CAGR by 2028 due to the increasing application of the devices in asthma, cystic fibrosis, etc. Also, the higher adoption of these devices for volume measurements has led to increased product sales.

The peak flow meters segment is expected to grow at a significant CAGR due to the increasing number of market players engaged in introducing advanced devices such as wireless spirometers in the global market. For example, in March 2021, DKSH Business Unit Healthcare and Smart Respiratory Products, a London-based digital healthcare company, announced the strategic collaboration to bring Smart Peak Flow, a compact digital peak expiratory flow meter (PEFM), to asthmatic patients in Asia.

By Application Analysis

COPD to ne Leading Market Segment owing to Growing Occurrence

Based on application, the market is segmented into chronic obstructive pulmonary disorder (COPD), asthma, and others.

The higher prevalence of COPD globally and the increasing incidence of pulmonary infection among patients are some of the major factors responsible for the segment's dominance in 2020. According to an analysis conducted by the U.S. National Health and Nutrition Survey, about 19.2% of adults were diagnosed with COPD due to occupational exposures. These devices are now being tested in labs for widening its application for cystic fibrosis and other pulmonary disorders. This is likely to contribute to the growth of the other segment during the forecast period.

By End User Analysis

Hospital Segment to Dominate Owing to Increasing Healthcare Expenditure

In terms of end-user, the market is segmented into hospitals, diagnostic centers, homecare settings, physician/primary care offices or clinics, and other facilities.

The hospitals are expected to have a dominant share in the market during the forecast period. The dominance is due to the increasing healthcare expenditure leading to the adoption of advanced pulmonary function testing devices. For example, in August 2019, Ruby Hall in Pune, India, announced the installation of the pulmonary function test machine. The hospital stated that the machine helps in generating an accurate test for lung disease.

The clinics are expected to grow at a significant CAGR due to the increase in the number of stand-alone respiratory clinics in developed and emerging countries during the forecast period.

The diagnostic centers recorded a considerable share in the market owing to rising patient preference for having lung function tests at the nearby diagnostic center. This has leveraged the adoption of handheld devices by the centers leading to higher sales. 

During these unprecedented times of COVID-19, home healthcare is one of the best services available at your doorstep.  Besides, the home care settings segment is expected to register a significant growth by the end of the forecast period due to patients' rising preference shift from hospital to home care settings.

REGIONAL INSIGHTS

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The market size in North America stood at USD 265.0 million in 2020. The dominance of this region is attributable to the increasing prevalence of COPD, asthma, and other respiratory diseases. This has caused an increasing economic burden on the healthcare system, leading to precise devices to overcome the issue. For instance, as per Global Initiative for Chronic Obstructive Lung Disease (COPD) 2020 report, the respiratory disease COPD is the fourth leading cause for deaths. The disease is exerting a huge burden on the healthcare. For example, according to National Center for Health Statistics, in 2020, above 25 million people in the U.S. had asthma and around 14.8 million adults were diagnosed with COPD. Around 12 million people have not yet been diagnosed. The widespread occurrence of the disease is likely to surge demand for diagnostic devices. The presence of major players in the region has further contributed to the dominance of North America. This, along with the presence of adequate regulatory policies in the U.S and Canada, is responsible for the region's dominance in the global market.

The market in Europe is expected to grow at a significant CAGR owing to the growing product approvals by the healthcare bodies during the forecast period.

The market in Asia Pacific is expected to showcase exponential growth owing to the increasing number of companies entering the untapped Asian economies. In addition to this, market players in this region are making heavy investments, which will fuel demand for advanced products.

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Latin America & the Middle East & Africa accounted for a comparatively lower share of the market due to a huge underpenetrated market.

KEY INDUSTRY PLAYERS

Increasing Focus on Technological Development by Major Companies to Strengthen Market Outlook

The market is consolidated owing to the diverse product portfolio and remarkable distribution network of major companies in developed and emerging countries. Companies such as ndd Medizintechnik AG, and COSMED srl, among others have introduced exemplary products in the market. However, the potential to leverage opportunities provided by the market is enabling the entry of several domestic players in the forthcoming years. Strategic partnerships among the key players to launch portable spirometers in the region are likely to contribute to the growth of the segment. For instance, in January 2020, NuvoAir and Roche Italy partnered to manufacture portable devices for cystic fibrosis.

The other key players such as MGC Diagnostics, Morgan Scientific, SCHILLER, VYAIRE Medical, etc. have also entered the market competition with novel advanced spirometry devices, software, etc.

LIST OF KEY COMPANIES PROFILED:

• ndd Medizintechnik AG (Zurich, Switzerland)


• COSMED srl (Rome, Italy)


• MGC Diagnostics Corporation (Minnesota, U.S)


• Morgan Scientific (Massachusetts, U.S)


• Chest M.I., Inc. (Tokyo, Japan)


• VYAIRE (Illinois, U.S)


• Ganshorn Medizin Electronic GmbH (Niederlauer, Germany)


• Medical International Research (MIR) (Rome, Italy)


• Other Players

KEY INDUSTRY DEVELOPMENTS:

• June 2021 – ERT announced the launch of ERT iSpiro Virtual Visits, which enables real-time coaching during at-home pulmonary function tests (PFT). With iSpiro Virtual Visits, ERT delivers on its commitment to offer customer and patient-oriented innovations that enable decentralization.


• July 2020 – ndd Medizintechnik AG announced the launch of a single patient-use, inline filters for its lung function testing devices in response to COVID-19 for safety purposes.

REPORT COVERAGE

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The market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading product applications. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the advanced market over the recent years.

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