What is the global market size of Spirometer Market?

Spirometer Market size was valued at USD 1.0 billion in 2021 and is poised to grow from USD 1.10 billion in 2022 to USD 2.3 billion by 2030, at a CAGR of 10.20% during the forecast period (2023-2030).

Who are the key vendors in the Global Spirometer Market?

The spirometer market is made up of respiratory device manufacturers as well as standalone spirometer producers. New technical advancements, such as the use of artificial intelligence, will generate growth prospects for new market entrants. For example, NuvoAir, a Swedish health care firm, created a digital platform that allows customers to perform at-home lung function tests. Companies are battling for market share, particularly in nations with advanced technology such as the United Kingdom, Germany, and the United States. Acquisitions and cooperation amongst market participants to strengthen their position have occurred. This is projected to increase market competition over the projection period. 'Hill-Rom Holdings, Inc.', 'Schiller AG', 'MGC Diagnostics Corporation', 'Vitalograph Ltd.', 'Vyaire Medical, Inc.', 'ndd Medizintechnik AG', 'Midmark Corporation', 'Medical International Research (MIR)', 'COSMED srl', 'Fukuda Sangyo Co., Ltd.', 'Thor Medical Systems', 'Nihon Kohden Corporation', 'Ganshorn Medizin Electronic GmbH', 'SDI Diagnostics', 'Jones Medical Instrument Company', 'NDD EasyOne Diagnostics', 'Morgan Scientific Inc.', 'M&B Electronic Instruments Inc.', 'Futuremed America Inc.', 'CareFusion Corporation'.

What is the key driver of Global Spirometer Market?

Despite the benefits of spirometry testing, there is a lack of awareness among patients and healthcare providers about its importance in the diagnosis and management of respiratory diseases. Additionally, the availability of spirometer devices may be limited in some regions, particularly in developing countries, which may limit the market's growth potential.

What is the key market trend for Global Spirometer Market?

Increasing adoption of portable and handheld spirometer devices: There is a growing trend toward the adoption of portable and handheld spirometer devices that are easy to use and provide accurate and reliable results. These devices are particularly useful in primary care settings and home healthcare settings, where they can be used to monitor patients with respiratory conditions and track changes in lung function over time.

Which region accounted for the largest share in Global Spirometer Market?

North America dominated the market with a 41.6% share in 2022, owing mostly to the rising frequency of respiratory disorders. As the number of COPD and asthma cases rises, so does the usage of spirometers, which help in disease control and are routinely used by doctors in hospitals. Furthermore, the US has been highlighted as an early adopter of technology that aids in the decrease of COPD rates. Due to the one preceding, the market is expected to expand throughout the forecast period.

Spirometer Companies

Spirometer Market Competitive Landscape

Top Player’s Company Profiles in Global Spirometer Market

Baxter International Inc (US)
Midmark Corporation (US)
FutureMed (US)
COSMED SRL (Italy)
MGC Diagnostics Corporation (US)
Medical International Research (MIR) (Italy)
Vyaire Medical Inc (US)
Vitalograph (UK)
NDD Medical Technologies Inc (Switzerland)
Schiller AG (Switzerland)
Jones Medical Instrument Company (US)
Sibelmed (Spain)
Medline Industries LP (US)
NCE Empowering Safety (US)
Teleflex Inc (US)
The Contec Group (China)
Medikro (Finland)
SDI Diagnostics (US)
Chest M.I., Inc (Japan)
Fukuda Sangyo Co. Ltd., (Japan)

Global Spirometer Market

FAQs

Spirometer Market size was valued at USD 951.0 million in 2022 and is poised to grow from USD 1036.3 million in 2023 to USD 1989.1 million by 2031, growing at a CAGR of 8.52% in the forecast period (2024-2031).

The market is competitive and driven by technological factors and the expansion strategies implemented in the markets. Businesses are concerned with the improvement of spirometry tools to increase precision, ease of use, and patient tolerance. New entrants are gradually increasing their presence with niche products and partnerships. This category of strategies entails forming partnerships, mergers, and acquisitions to enhance market position and leverage the increasing demand for respiratory diagnostic solutions in the global market. 'Baxter International Inc (US) ', 'Midmark Corporation (US) ', 'FutureMed (US) ', 'COSMED SRL (Italy) ', 'MGC Diagnostics Corporation (US) ', 'Medical International Research (MIR) (Italy) ', 'Vyaire Medical Inc (US) ', 'Vitalograph (UK) ', 'NDD Medical Technologies Inc (Switzerland) ', 'Schiller AG (Switzerland) ', 'Jones Medical Instrument Company (US) ', 'Sibelmed (Spain) ', 'Medline Industries LP (US) ', 'NCE Empowering Safety (US) ', 'Teleflex Inc (US) ', 'The Contec Group (China) ', 'Medikro (Finland) ', 'SDI Diagnostics (US) ', 'Chest M.I., Inc (Japan) ', 'Fukuda Sangyo Co. Ltd., (Japan)'

The spirometers are demanding for early detection, disease management, and treatment intervention for people with respiratory disorders. In 2020, the COPD incidence was estimated 10.6% in both males and females, equivalent to 480 million cases. The estimates of COPD prevalence suggest that the figure of COPD patients will increase by 112 million by 2050, totaling 592 million or 9.3% from year 2020 to year 2050. This rising is mainly due to the increasing prevalence of COPD among female patients and LMICs. In females, COPD is expected to rise to 7.8% in 2020 to 8.3% in 2050. The number of the population aged 65 and over was 8% in 2020 and 8.3% in 2050, a relative increase of 6.4%. The global prevalence of COPD in females is projected to rise from 177 million in the year 2020 to 260 million by the year 2050, this a rise of 83 million, 47.1% relative increase.

Advancements in spirometry technology: The development of new spirometry devices is now experiencing fast-growing demand in the global market due to better usability, portability, and cheaper prices. Some of the advancements include portable devices that have greatly enhanced respiratory care through enhanced portability and convenience of the devices to both the carers and the patients. These portable equipments allow pulmonary function tests in non-hospital environments, particularly in point-of-care and telemedicine settings. For instance, in January 2024, the Air Next spirometer developed by NuvoAir is a breakthrough, as it is the first spirometer approved by the FDA for home use. Moreover, incorporation with Smartphones has emerged as a trend that utilizes the existing popular devices to improve usability. spirometers are integrated with smartphone applications, which track patients’ respiratory health and share the data with their healthcare providers for assessment and management without physically visiting the clinic.

North America held the largest market share in 2023 with 38.04% due to increasing incidences of respiratory diseases. Asthma and COPD incidence has led to higher spirometer sales because of disease necessity and acceptance among hospital doctors. Also, the United States has been at the forefront of embracing technologies to reduce the incidences of COPD. Such factors indicate that the market has good potential for growth in the future for the given forecast period. Chronic respiratory diseases are prevalent in the United States, which increases the need to monitor the conditions through portable handheld spirometers.

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What is the global market size of Spirometer Market?

Who are the key vendors in the Spirometer Market?

What is the key driver of Spirometer Market?

What is the key market trend for Spirometer Market?

Which region accounted for the largest share in Spirometer Market?

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