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Spirometer Market Reached USD 583.2 Million in 2022; Growing Prevalence of COPD to Boost Product Sales, Escalating the Market Growth

November 01, 2023 | Healthcare

The global spirometer market size stood at USD 583.2 million in 2022. The market value is slated to rise from USD 613.3 million in 2023 to USD 891.5 million by 2030 at a CAGR of 5.5% during 2023-2030.


Fortune Business Insights™ presents this information in its report, titled “Spirometer Market Size, Share & COVID-19 Impact Analysis, By Product Type (Devices, Software, and 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 Forecast, 2023-2030”. A spirometer is a diagnostic tool utilized for the measurement of air volume inhaled and exhaled by the lungs. The market expansion can be credited to the rising investments by industry players in launching technologically advanced software and devices to increase the demand for these products.


Halt in Supply Chain of Medical Devices Impeded the Market Growth


The COVID-19 pandemic influenced the market negatively, owing to a decrease in the diagnosis and treatment of respiratory diseases. The pandemic also led to disruptions in the supply chain of medical devices across the globe. In addition, the shortage of locally sourced raw materials or parts influenced a few players.


Cipla Launched Spirofy to Emerge as the Lung Leader in India


In November 2021, Cipla Inc. announced the launch of Spirofy, a pnemotech-based portable and wireless spirometer for diagnosis of COPD in India. Through this move, the company intended to revolutionize the diagnosis of COPD and become the lung leader in India.


Market Value to Grow Owing to Surging Incidence of COPD


The spirometer market growth is driven by the rising number of cases of COPD. Tobacco smoking is a significant risk factor for COPD. Moreover, environmental exposures, including exposure to biomass fuel and air pollution, may also lead to severe health hazards.


Despite an expanding scope for the adoption of the product, the shortage of skilled professionals may affect its adoption, hindering the market growth.


Top Players Emphasize Partnership Strategies to Boost Their Industry Presence


The top players in the market are adopting strategies such as mergers and acquisitions, product innovations, and other strategies to outshine the competition. Partnership strategies are also being adopted by many players to maximize their revenue and gain a competitive edge.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/spirometers-market-100486


Key Players



  • ndd Medizintechnik AG (Switzerland)

  • COSMED srl (Italy)

  • MGC Diagnostics Corporation (U.S.)

  • Morgan Scientific (U.S)

  • Chest M.I., Inc. (Japan)

  • VYAIRE (U.S.)

  • Ganshorn Medizin Electronic GmbH (Germany)

  • Medical International Research (MIR) (Italy)


Key Industry Development


August 2022: AstraZeneca India unveiled a partnership with Alveofit, a SaaS-IoT-based respiratory healthcare platform. This deal focuses on providing IoT-based handheld products at hospitals across India.


Further Report Findings



  • North America spirometer market held the largest market share in 2022. The regional expansion can be credited to the strong presence of key market players.

  • The Asia Pacific market for spirometer is anticipated to observe exponential growth during the forecast period due to the growing number of companies entering the untapped Asian countries.

  • Based on type, the market is classified into peak flow meters and volume measurement. The volume measurement segment registered the largest market share in 2022. The property to provide accurate results is escalating the volume measurement segment expansion.

  • Based on end user, the market is divided into physician/primary care offices or clinics, diagnostic centers, homecare settings, hospitals, and other facilities. The hospitals segment is poised to account for the largest market share during the forecast period. The deployment of advanced pulmonary function testing devices due to surging expenditure in healthcare is proliferating the hospitals segment growth.


Table of Segmentation






















































ATTRIBUTE



DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 5.5% from 2023 to 2030



Unit



Value (USD Million)



 


 


 


 


 


Segmentation



By Product Type



  • Devices

  • Software

  • Accessories & Consumables



By Type



  • Volume Measuremesnt

  • Peak Flow Meters



By Application



  • Chronic Obstructive Pulmonary Disorder (COPD)

  • Asthma

  • Others



By End User



  • Hospitals

  • Diagnostic Centers

  • Homecare Settings

  • Physician/Primary Care Offices or Clinics

  • Other Facilities



By Region



  • North America (By Product Type, By Type, By Application, By End-User, By Country)


    • U.S. (By Type)

    • Canada (By Type)


  • Europe (By Product Type, By Type, By Application, By End-User, By Country/Sub-Region)


    • U.K. (By Type)

    • Germany (By Type)

    • France (By Type)

    • Italy (By Type)

    • Spain (By Type)

    • Scandinavia (By Type)

    • Rest of Europe (By Type)


  • Asia Pacific (By Product Type, By Type, By Application, By End User, By Country/Sub-Region)


    • Japan (By Type)

    • China (By Type)

    • India (By Type)

    • Australia (By Type)

    • Southeast Asia (By Type)

    • Rest of the Asia Pacific (By Type)


  • Latin America (By Product Type, By Type, By Application, By End User, By Country/Sub-Region)


    • Brazil (By Type)

    • Mexico (By Type)

    • Rest of Latin America (By Type)


  • Middle East & Africa (By Product Type, By Type, By Application, By End User, By Country/Sub-Region)


    • GCC (By Type)

    • South Africa (By Type)

    • Rest of the Middle East & Africa (By Type)



Global Spirometer Market
  • PDF
  • 2022
  • 2019-2021
  • 139

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