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The global spirometer market size was USD 504.2 million in 2019 and is projected to reach USD 716.8 million by 2027, exhibiting a CAGR of 4.7% during the forecast period.
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 suffer from asthma while more than 200 million people suffer from chronic obstructive pulmonary disease (COPD). Besides, asthma is the most common cause of respiratory illness affecting 14% of the children globally and is rising. Therefore, the increasing prevalence of diseases is the major factor contributing to the higher sales of these spirometer devices. Spirometry is the basic lung function test required to diagnose and treat COPD, asthma, and other respiratory disorders. 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 of the major players operating globally in the market have supply disruptions especially from distributors in China. On the other hand, the production process of certain players operating in the market has been affected due to the unavailability 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 witness and experience a decline in its growth in 2020.
Owing to the fact that a majority of the Pulmonary Function Tests (PFTs) labs, testing centers are being closed in the potentially affected areas, the industry is expected to drastically limit the number of patients opting for COPD treatment. 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.
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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 for the development of advanced devices. Various established players and new start-ups are seeking funding in order to carry out research and clinical testing of the pulmonary testers.
Government and private organizations such as National Science Foundation, and the European Union Horizon Program, among others 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 for continuous monitoring of patients breathing. Such initiatives by the industry players are likely to expand the market potential of the spirometry devices.
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 spirometer 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 early diagnosis of COPD.
The underutilization of the pulmonary function tests has been overcome by the development of 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 Chronic Obstructive Pulmonary Disease (COPD) to Propel Product Sales
Chronic obstructive pulmonary disease (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.
Dearth of Skilled Professionals to Limit Device Adoption
Despite, the higher prevalence of asthma and COPD globally, certain factors are limiting 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 can be led by trained pulmonary function technologist. 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 is facing a high shortage of health workforce that is expected to reach 6.1 million by 2030. This coupled with other key 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.
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 for spirometer 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 mobile user-friendly 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 that is likely to increase the product sales and market value of the spirometry devices.
The software segment is likely to showcase a significant growth owing to the launch of advanced software solutions for the management of 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.
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, among others.
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Accuracy of Volume Measurement to Lead Dominance
On the basis of type, the market includes volume measurement and peak flow measurement meters. The volume measurement devices held a dominant share in the market in 2019. 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 2027 due to the increasing application of the devices in asthma, cystic fibrosis, etc. Also, higher adoption of the spirometry devices for volume measurements has led to increased sales of the product.
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 spirometer in the global market. For example, in April 2018, NuvoAir, a Swedish respiratory monitor manufacturer, announced the launch of Air Next, a smart and wireless device for home application.
Growing Prevalence of COPD to Cause Leading Position in the Spirometry Market
Based on application, the market is segmented into chronic obstructive pulmonary disorder (COPD), asthma, and others.
Higher prevalence of COPD globally and the increasing incidence of pulmonary infection among patients are some of the major factors responsible for the dominance of the segment in 2019. According to an analysis conducted by the U.S. National Health and Nutrition Survey, about 19.2% of the 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.
Hospital Segment to Dominate Owing to Increasing Healthcare Expenditure
In terms of end-user, the market for spirometer 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 spirometer market share 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 owing to the rising preference shift of patients from hospital to home care settings.
North America Spirometer Market Size, 2019 (USD Million)
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The market size in North America stood at USD 252.6 million in 2019. The dominance of this region is attributable to the increasing prevalence of the chronic obstructive pulmonary disorder, asthma, and other respiratory diseases. This has caused an increasing economic burden on the healthcare system leading to the development of 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 and the disease is exerting a huge burden on the healthcare services to reduce its prevalence. This 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 dominance of the region 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 an 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 in turn, will fuel demand for advanced products.
Latin America & the Middle East & Africa accounted for a comparatively lower share of the market owing to the presence of a huge underpenetrated market.
Increasing Focus on Technological Development by Major Companies to Strengthen Their Market Positions
The market is consolidated owing to the diverse product portfolio and remarkable distribution network of major companies in developed and emerging countries. Currently, 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 spirometer in the region are likely to contribute to the growth of the segment. For instance, in January 2020, NuvoAir and Roche Italy entered into a partnership 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.
An Infographic Representation of Spirometers Market
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The spirometer market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. 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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Value (USD Million)
Product Type; Type; Application; End User; and Geography
By Product Type
By End User
Fortune Business Insights says that the global market size was USD 504.2 million in 2019 and is projected to reach USD 716.7 million by 2027.
In 2019, the North America market value stood at USD 252.6 million.
Growing at a CAGR of 4.7%, the market will exhibit steady growth in the forecast period (2020-2027).
The devices segment is expected to be the leading segment in this market during the forecast period.
Growing investments and funding opportunities coupled with increased spirometry test takers volume are major factors driving the growth of the market.
ndd Medizintechnik AG, COSMED srl, MGC Diagnostics etc., are major players of the global market.
North America dominated the market share in 2019.
Launch of advanced technologies by market players like connected and portable spirometer, are expected to drive the adoption in the global market.
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