SPIROMETER MARKET ANALYSIS

The global spirometer market is estimated to be valued at US$ 1,148.7 Mn in 2023, and is expected to exhibit a CAGR of 9.5% during the forecast period (2023-2030).

Analysts’ Views on the Global Spirometer Market:

The global spirometer market is a dynamic market driven by factors such as the increasing prevalence of respiratory diseases, growing aging population, technological advancements, and growing awareness about respiratory health. Spirometers, which measure lung function, are in demand for diagnosing and managing conditions like asthma and Chronic obstructive pulmonary disease (COPD). Technological innovations, including portable devices and telemedicine integration, enhance accessibility of the product. Additionally, favorable reimbursement policies and product launches diversify offerings of market players. The market continues to expand, facilitating effective management of respiratory conditions and early respiratory disease testing, with a focus on improving patient outcomes and quality of life.

Figure 1. Global Spirometer Market Share (%), By Product Type, 2023

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Global Spirometer Market - Drivers

• Increasing product approvals by regulatory authorities: The spirometer market is significantly driven by the increasing product approvals from regulatory authorities worldwide. Approvals, such as those from the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA), assure the safety and efficacy of spirometry devices, instilling confidence among healthcare providers. For instance, on September 7, 2023, Roundworks Technologies Private Limited, an India-based non-government company, announced the U.S. FDA clearance for the distribution of Alveoair spirometers in the U.S. These approvals are prerequisites for market entry, enhancing product credibility and fostering global expansion. They also incentivize manufacturers to invest in research and development, driving innovation in spirometry technology.
• Growing geriatric population: The average lifespan of people is increasing worldwide. According to a report released by World Health Organization (WHO) in October 2022, 1 billion people in 2020 were aged 60 years or above. Furthermore, this number is expected to rise to 1.4 billion by 2030. This aging population is more susceptible to respiratory issues, which drives the demand for spirometry testing. Older individuals are at a higher risk of conditions like COPD and require ongoing monitoring of their lung function. Thus, the increasing geriatric population is propelling the growth of global spirometer market.

Figure 2. Global Spirometer Market Share (%), By Region, 2023

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Global Spirometer Market - Regional Analysis

Among region, North America is estimated to hold a dominant position in the global spirometer market over the forecast period. North America is estimated to hold 35.4% of the market share in 2023. The North America spirometer market is expected to witness significant growth in the near future due to increased inorganic growth activities, such as acquisitions and partnership, of the market players in the region. For instance, in November 2022, CAIRE Inc., a U.S.-based manufacturer of respiratory devices, announced the acquisition of MGC Diagnostics Holdings, Inc., a company that develops non-invasive diagnostic systems for detecting and managing cardiorespiratory diseases. With this acquisition, CAIRE Inc. expands its portfolio with pulmonary function testing systems, cardiopulmonary exercise systems, spirometers, flow sensors, gas analyzers, and associated consumables. Such acquisitions and consequent portfolio expansions are expected to encourage the growth of the North America spirometer market.

Global Spirometer Market - Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic had a multifaceted impact on the global spirometer market. Initially, there was a surge in the demand for spirometers as healthcare providers relied on them for diagnosing and monitoring respiratory issues including COVID-19 complications. However, global supply chain disruptions and manufacturing challenges led to shortages in some countries. For instance, in August 2021, the government of Canada reported a shortage of volumetric incentive spirometers.

The adoption of telehealth and remote monitoring solutions accelerated, increasing the value of spirometers with remote capabilities. Nevertheless, the postponement of non-essential medical procedures during the pandemic temporarily reduced demand in certain healthcare settings.

The pandemic also raised awareness about respiratory health, potentially driving the long-term demand for spirometry post COVID-19. According to a survey conducted by Koninklijke Philips N.V., a diversified technology company, in November 2020, COVID-19 catalysed increase in awareness for the chronic respiratory conditions across the globe. According to the survey, 72% of the respondents were familiar to chronic obstructive pulmonary disease post-pandemic compared to 52% of respondents who were aware before the pandemic. Furthermore, regulatory changes expedited device approvals and encouraged innovation.

Global Spirometer Market - Segmentation

The global spirometer market  is segmented into product type, technology type, application, end user, and region.

• Based on product type, the market is segmented into hand held, table top, and desktop. Out of which, the table top segment is expected to hold a dominant position in the global spirometer market during the forecast period due to its diverse applications in the treatment of various respiratory diseases like COPD, asthma, and other pulmonary diseases.
• Based on technology type, the market is segmented into volume measurement, flow measurement, and peak flow measurement. Out of which, the flow measurement segment is expected to hold a dominant position in the global spirometer market during the forecast period due to its applications in pulmonary testing.
• Based on application, the market is segmented into asthma, Chronic Obstructive Pulmonary Disease, cystic fibrosis, pulmonary fibrosis, and others (Emphysema, Chronic Bronchitis, and Bronchiectasis). Out of which, the chronic obstructive pulmonary disease segment is expected to dominate the market over the forecast period due to the higher incidence of chronic obstructive pulmonary disease across the globe.
• Based on end user, the market is segmented into hospitals and clinics, and home healthcare. Out of which, the hospitals and clinics segment is expected to dominate the market over the forecast period since spirometry is involved in the diagnosis of several respiratory disorders in hospitals and clinics.
• Based on region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Out of which, the North America segment is expected to dominate the market over the forecast period owing to high concentration of market players in the region.

Among all the segmentation, the flow measurement segment is expected to dominate the market over the forecast period due to increasing technological advancements in flow measurement technology spirometers.

Global Spirometer Market - Cross Sectional Analysis

Based on application, the chronic obstructive pulmonary disease (COPD) segment is expected to be dominant in the Asia Pacific region. This dominance can be attributed to the increasing product launches for diagnosis and management of COPD in the region. For instance, in November 2021, Cipla Limited, an India-based multinational pharmaceutical company, launched Spirofy which will aid in the diagnosis of chronic obstructive pulmonary disease in the region. 

Global Spirometer Market: Key Developments

In February 2023, Aluna, a U.S.-based spirometer manufacturing company, secured Series B round funding worth US$ 15.3 million to continue the development of its Artificial Intelligence (AI)-enabled platform for digital spirometer. The platform will convene patients to blow into the digital spirometer and transmit the health data to doctors directly which will help in the management of asthma, cystic fibrosis, and COPD.

In April 2021, Diagnostics, an international, peer-reviewed, open access journal on medical diagnosis, published a study entitled “Novel App-Based Portable Spirometer for the Early Detection of COPD”. The study evaluates the use of Spirobank Smart, an app-based spirometer, for facilitating the early detection of COPD in outpatient clinics.

Global Spirometer Market: Key Trends

Increasing partnership by key market players: The key players in the global spirometer market are focused on increasing adoption of partnership to expand their market share. For instance, in August 2022, AstraZeneca plc, a multinational pharmaceutical and biotechnology company, announced its partnership with Alveofit, an India-based technology-enabled company. The partnership aims at offering Internet of things (IoT)-enabled handheld spirometers at hospitals across India.

Global Spirometer Market: Restraint

Technical complexities associated with using spirometers can limit their adoption: Spirometers are medical devices designed to measure lung function by assessing the volume and flow of air inhaled and exhaled by an individual. While they are invaluable tools in diagnosing and managing respiratory conditions, they can be technically complex instruments for several reasons. Firstly, spirometers must be carefully calibrated to ensure accuracy. This involves regular checks and adjustments to guarantee that the measurements are consistent and reliable. Calibration requires specialized knowledge and equipment, making it a task typically performed by trained professionals. Secondly, spirometers rely on sophisticated sensors and software algorithms to capture and interpret the data accurately. Any deviation from proper sensor functionality or software calibration can lead to erroneous results, potentially affecting patient care. Additionally, the proper administration of spirometry tests requires healthcare professionals to provide clear and standardized instructions to patients. Patients must perform specific breathing maneuvers, such as forced expiratory maneuvers, with precision and consistency. Such technical complexities have limited the adoption of spirometers across the globe.

Counterbalance: There is a necessity for adequate training for both patients and healthcare providers to ensure standard use of spirometers for reliable test results. Furthermore, the calibrations at regular intervals can avoid erroneous results and increase fidelity of spirometry.

Global Spirometer Market - Key Players

The major players operating in the global spirometer market include Koninklijke Philips N.V., SCHILLER, Midmark Corporation, Smiths Medical, Vyaire Medical, Inc., SDI Diagnostics, Nihon Kohden Corporation, COSMED srl, Fukuda Sangyo Co. Ltd., Medicare Systems, MGC Diagnostics Corporation, LabTech, Vitalograph, Futuremed, Geratherm Medical AG, Guangzhou Medsinglong Medical Equipment Co., Ltd, Aluna, and Welch Allyn.

Definition: A spirometer is a small machine attached by a cable to a mouthpiece. It is used to diagnose and monitor certain lung conditions by measuring how much air one can breathe out in one forced breath.