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Spirometry Market- Trends and Regional Forecast till 2023

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Reshu Gupta

The global spirometry market is expecting to touch a valuation of USD 1,106.46 million by 2023, according to Market Research Future  (MRFR). The high prevalence of respiratory disorders is the major factor driving the market growth from 2018 to 2023 (forecast period).  Rising cases of chronic obstructive pulmonary disorders (COPD), technological advances in respiratory care devices, and the expanding  geriatric population are factors expected to spur market demand till 2023. As per a report by Asthma UK in 2016, nearly 1,410 people  died from asthma. 

Government initiatives to curtail smoking habits, focus on breathing diseases, rising levels of air pollution, and adoption of spirometers at  homes are factors likely to augur market growth. Awareness of reimbursement policies among the public and clinicians are projected to  drive patients towards taking these tests. But high costs of spirometers can act as a deterrent against market growth. 

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Spirometry Market Segmentation: 

The spirometry market can be segmented by product, technology, application, and end-user. 

By product, the market is segmented into table-top spirometry, hand-held spirometry, and desktop (PC) spirometry. The table-top  spirometry segment accounted for 49.9% market share in 2017, followed by hand-held (31%), and desktop (19.1%). This can be  attributed to adoption of spirometers in hospitals and clinics. But the desktop segment is touted to register the highest CAGR of 10.58%  during the forecast period owing to its rapid diagnosis rate and increasing use of computer-based applications. 

By technology, the market covers flow measurement spirometry, volume spirometry, and peak flow meters (PFM). The flow  measurement spirometry segment accounted for 50.3% share in 2017. This can be attributed to its lightweight nature and compact size.  Its functionality based on the familiar table-top spirometer technology and lack of frequent calibration make it popular among clinicians.  But the PFM technology can register 10.58% CAGR over the forecast period to reach USD 149.76 million by 2023. 

Major applications of the spirometry market include diagnostic and treatment monitoring. The diagnostic segment is further sub segmented into asthma, interstitial pulmonary fibrosis, and COPD. The diagnostic segment accounted for 68.93% share of the market in  2017, spurred by the prevalence of breathing diseases such as asthma. But the treatment monitoring segment can exhibit the highest  CAGR during the review period to reach a valuation of USD 353 million by 2023. Its valuation in 2018 was suggested to be USD 214.12  million. 

Key market end-users include hospitals & clinics, research & academic institutes, diagnostic centers, and home care. The home care  segment is projected to enjoy a 9.90% CAGR to reach a valuation of USD 71.14 million by 2023 from USD 44.38 million in 2018. 

Spirometry Market Regional Analysis: 

The spirometry market covers the latest trends and opportunities across Americas, Europe, Asia Pacific (APAC), and the Middle East &  Africa (MEA). 

The Americas accounted for 39.74% share in the global market in 2017, followed by Europe and APAC. This can be attributed to  economies such as the U.S. which are the earliest adopters of latest technologies coupled with the large patient pool suffering from  respiratory disorders. The region is likely to enjoy a 10.25% CAGR over the forecast period. 

The Europe spirometry market is expected to enjoy a CAGR similar to the Americas market over the forecast period to touch a valuation  of USD 322.33 million by 2023. This can be credited to rising number of asthma cases and ballooned healthcare expenditure of nations  such as Germany and France.

Market Research Future 

The MEA region can experience a respectable CAGR during the review period owing to improvements of healthcare infrastructure and  enhanced healthcare budgets of Kuwait, Qatar, and Dubai. 

The APAC region is expected to exhibit a 10.94% CAGR over the forecast period owing to high cases of chronic diseases, awareness of  respiratory devices, and increased healthcare budgets of developed nations in the region. The growing geriatric populace in China and  Japan can contribute to regional market revenue till 2023. 

Spirometry MarketCompetitive Dashboard: 

Key players in the spirometry market include Smiths Medical Inc. (U.S.), Vitalograph (U.K.), MGC Diagnostics Corporation (U.S.), Hill-Rom  Holdings, Inc. (U.S.), Schiller AG (Switzerland), COSMED srl (Italy), Midmark Corporation (U.S.), NDD Medical Technologies, Inc. (U.S.),  Carefusion Corporation (U.S.), Nihon Kohden Corporation (Germany), and Koninklijke Philips N.V. (The Netherlands). 

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About Market Research Future: 

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked  Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market  Research & Consulting Services. 

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market  research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level  market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. 

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts  and industrial visits for its research analyst members. 

 Contact: 

Market Research Future 

+1 646 845 9312 

Email: [email protected]

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