Number of pages: 120 | Report Format: PDF | Published date: 28 January, 2022
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
The global spirometer market was pegged at ~US$ 785 million in 2020 and is expected to witness a CAGR of ~10.8% during the forecast period.
The common test used for diagnosis of respiratory diseases is known as spirometry. A spirometer is an instrument for measuring the air entering and leaving the lungs and is used for diagnosis of respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), chronic bronchitis, and other conditions that affect breathing. These devices can also be used in monitoring respiratory diseases such as asthma. Spirometer can help distinguish between diseases with similar symptoms and determine whether the condition is obstructive or restrictive. Even though the test is simple and easy, the person may feel short of breath or dizziness.
Factors contributing to the growth of spirometer market include the rising incidence of chronic respiratory diseases, rapidly growing aging population, and increasing number tobacco smokers. Moreover, the growing awareness regarding self-monitoring of respiratory diseases such asthma, increasing technological advancements, and newer product launches are also playing a pivotal role in propelling the global spirometer market. However, longer period required for performing this test is one of the factors hindering the spirometer market growth to a certain extent.
The global spirometer market has been analyzed from five perspectives: Product, Type, Application, End User, and Region.
Spirometer Market by Product
Based on product, the spirometer market has been segmented into devices, consumables & accessories, and software. Devices segment is further categorized into portable spirometer, table-top spirometer, and PC- based spirometer. Consumables & accessories segment held the largest share of the spirometer market in 2020. The large market share of this segment can be attributed to the greater usage of consumables during diagnosis of asthma, chronic obstructive pulmonary disease (COPD) and other respiratory conditions.
Spirometer Market by Type
Based on type, the market has been segmented into flow-sensing spirometer and peak flow meters. The flow-sensing spirometer segment held the largest share of the global spirometer market in 2020. The rising incidence of respiratory diseases and benefits offered by these types of spirometers such as high-speed and high-accuracy - are some of the factors boosting the segmental growth.
Spirometer Market by Application
Based on application, the market has been segmented into chronic obstructive pulmonary disease (COPD), asthma, and other applications. COPD segment dominated the global spirometer market in 2019. Factors contributing to rising prevalence & incidences of COPD and increasing use of spirometer for diagnosis of COPD are some of the key factors driving the growth of the segment.
Spirometer Market by End User
Based on end user, the market has been segmented into hospitals, clinical laboratories, home care settings, and other end users. Hospitals segment accounted for the largest market share in 2020. High usage of spirometer in hospitals for monitoring & diagnosis of chronic respiratory disorders is one of the major factors propelling the segmental growth.
Spirometer Market by Region
Regionally, the global spirometer market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America dominated the market for spirometer holding the largest share in 2020. Factors contributing to the growth of spirometer market in this region include the rising geriatric population, increasing prevalence of respiratory diseases, and greater usage of spirometer for diagnosis of COPD, asthma, and other respiratory diseases. Moreover, growing preference for management of respiratory diseases such as asthma at home and new product launches by regional players are some of the other factors propelling the growth of spirometer market in this region.
Some of the prominent players operating in the global spirometer market includes:-