As per Future Market Insights (FMI) – an ESOMAR-certified market research firm, the global spirometer market will reach a valuation of nearly USD 2 billion by 2020, growing at 9.1% CAGR during the period.
The number of people adversely affected by chronic respiratory diseases is increasing at a substantial rate as more than 2 Bn people are exposed to polluted air on regular basis. As such, diagnosing as well as monitoring respiratory diseases has become imperative in home settings and hospitals. As of now, close to 30% of the pediatric hospitalizations are being attributed to asthma. It’s a known fact that environmental conditions are worsening day by day. As such, spirometry is being recommended by medical fraternities as an effective way of checking through respiratory health.
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Also, developed economies like the US do have standard reimbursement policies in place. Some of them are exclusively meant for spirometry via Medicaid, third-party insurance, and Medicare. The revised Medicare Fee Schedule, 2018 let sizable amount (from healthcare) to be diverted to spirometry. All the trends mentioned above are expected to give an impetus to the spirometer market in the forecast period.
Key Takeaways
- Table top spirometers hold the highest market share as they are broadly used in clinics, hospitals, and the other diagnostic centres
- Due to increasing preference for computer-based spirometry, desktop spirometers are expected to hit the market at the fastest pace in the forecast period
- Economies like India to play a pivotal role in the spirometer market between 2020 and 2030 due to an exponential increase in number of patients suffering from respiratory disorders (resulting out of air pollution. India is amongst the top polluted places across the globe)
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The spirometer market is witnessing novel strides on the count of addition of accessories.
For instance – In Aug 2020, Queset Medical, Inc. came up with a series of PFT Anti-Viral filters complying with the latest guideline regarding spirometry. These filters follow the guidelines given by the Canadian Respiratory Society, European Respiratory Society, and the American Thoracic Society. Plus, they are approved by the US FDA regarding provision of 99.9% cross contamination efficiency.
Recently, NovaAir tabled its novel product – a wireless, home-use spirometer that could be used hassle-free with connection to tablets/smartphones through Bluetooth. Henry Schein also came up with Henry Schein EasyOne Air spirometer to enable lung function testing. It claims to potentially improve diagnosis and recognition of COPD.
Key Participant Insights
The global spirometer market is set to enhance its scope in the forecast period, due to rising number of COPDs and respiratory disorders. In addition to this, multi-purpose spirometers are doing the rounds. The entry of these spirometers is bound to take the market at the “new” normal level in the forecast period.
The key market players covered by FMI include nSpire Health Inc., Vitalograph Ltd., Ndd Medical Technologies Inc., Recorders & Medicare Systems Pvt Ltd., Welch Allyn Inc., Chest M.I. Inc., Minato Medical Science Co Ltd., Geratherm, Medset Medizintechnik GmbH, Medical International Research, Cosmed srl, Sibelmed, and Ganshorn Medizin Electronic.
“The heart– and respiration-related ailments are showing a steep increase at periodic intervals. This ongoing trend is expected to bolster the spirometer market in the forecast period” – says the FMI analyst.
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Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2030. The global spirometer market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on manual resuscitator market on the basis of product type (device (hand held, desktop, table-top), consumables and accessories, software), application (COPD, asthma, cystic fibrosis, pulmonary fibrosis), technology (flow sensor, peak flow meter, volume measurement), end-use (hospital, clinical laboratory, homecare) across seven major regions
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The outbreak of Covid-19 has resulted in an increase in the demand for spirometers, especially after filters being provided by the leading players. Between Apr and Jun 2020, the demand was sinusoidal, as people were pretty sceptical regarding opting for any other course of treatment amidst the pandemic. Later, the advent of filters (as mentioned above) made things simpler. The scenario is expected to continue going forward as well.
The global Spirometer Market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
Product Type
- device (hand held, desktop, table-top)
- consumables and accessories
- software
Application
- COPD
- Asthma
- cystic fibrosis
- pulmonary fibrosis
Technology
- flow sensor
- peak flow meter
- volume measurement
End-Use
- hospital
- clinical laboratory
- homecare
Geography
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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