by Spirometer are medical devices used for measuring lung function or pulmonary function by determining the amount (volume) and/or speed (flow) of air that can be inhaled and exhaled. Spirometers help diagnose and monitor conditions such as asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and lung cancer. The global spirometer market is driven by increasing prevalence of respiratory diseases, rising geriatric population, growing healthcare expenditures, and technological advancements in spirometry devices. Pulse oximeters are widely being integrated with spirometers to monitor oxygen saturation during respiratory tests. Wearable and smartphone-based spirometers are gaining popularity due to the convenience of remote monitoring of lung functions, especially important during the COVID-19 pandemic.
The global spirometer market is estimated to be valued at US$ 1148.7 Mn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing demand for remote monitoring solutions is expected to propel the spirometer market growth over the forecast period. Remote monitoring allows continuous monitoring of patients’ lung functions from home, reducing hospital visits. This is important given social distancing measures during the ongoing COVID-19 pandemic. Wearable spirometers integrated with Bluetooth and mobile applications offer convenient remote monitoring options. Leading players are focusing on developing smartphone-based spirometers with compatible apps for monitoring pulmonary symptoms and lung function tests remotely. Growing telehealth and digital health trends are also fueling demand for wireless spirometry devices with remote data transmission capabilities. However, high costs associated with advanced spirometry devices and testing may hinder market growth, especially in price-sensitive developing regions.
Segment Analysis
The global spirometer market is dominated by the diagnostic segment. Diagnostic spirometers are used for pulmonary function testing and diagnosis of various respiratory disorders such as asthma, bronchitis and COPD. These spirometers provide accurate, reproducible measurements and results which help physicians to effectively diagnose and monitor respiratory diseases. The high diagnostic accuracy and reproducibility of results have increased the demand for diagnostic spirometers, making it the dominant segment in the market.
PEST Analysis
Political: Governments across various countries are increasing funding for public healthcare infrastructure and diagnostic services. This is positively impacting the adoption of spirometers for respiratory disorder screening and management.
Economic: Rising geriatric population and increasing prevalence of respiratory diseases are driving demand. However, high device costs in some markets can hamper market growth.
Social: Growing health awareness and health screening initiatives are encouraging the adoption of spirometry tests for early detection of respiratory issues. Technological: Advancements include portable hand-held devices with wireless data transmission and integrated software for automated analysis. This is boosting adoption.
Key Takeaways
The Global Spirometer Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is estimated to be US$ 1148.7 Mn.
Regional analysis – North America dominates the global spirometer market currently. This is attributed to factors such as rising incidence of respiratory diseases, growing elderly population, and presence of major market players. The Asia Pacific region is expected to grow at the fastest pace during the forecast period.
Key players operating in the spirometer market are Brooks Automation Inc., Entegris Inc., Tokyo Electron Limited, Lam Research Corporation, ASML Holding N.V., Applied Materials Inc., Hitachi High-Tech Corporation, AMAT Applied Materials AG, KLA Corporation, Mattson Technology Inc., Tokyo Seimitsu Co. Ltd., Advantest Corporation, Ultratech, MKS Instruments Inc., and Novellus Systems. Key players are focusing on new product launches and development to consolidate their market presence.
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Source: Coherent Market Insights, Public sources, Desk research
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