New York, July 14, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Spirometers Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Technology, Application, and Geography,” the rising prevalence of respiratory diseases and increasing preference for home care products fuel the market growth.
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Spirometers Market Report Scope & Strategic Insights:
| Report Coverage | Details |
| Market Size Value in | US$ 893.71 Million in 2021 |
| Market Size Value by | US$ 1,907.36 Million by 2028 |
| Growth rate | CAGR of 11.5% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 183 |
| No. Tables | 84 |
| No. of Charts & Figures | 76 |
| Historical data available | Yes |
| Segments covered | Type, Technology, and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Spirometers Market Analysis: Competitive Landscape and Key Developments
Jones Medical Instrument Company; Benson Medical Instruments Co.; NuvoAir AB; Teleflex Incorporated; Vyaire Medical, Inc.; COSMED Srl; Depisteo LLC; Henry Schein, Inc; Baxter International Inc.; and ICU Medical Inc. are among the key companies operating in the spirometers market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to tap into prevailing business opportunities.
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- In January 2022, ICU Medical announced that it has completed its acquisition of Smiths Medical from Smiths Group plc. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products. When combined with ICU Medical’s existing businesses, the combined companies create a leading infusion therapy company with estimated pro forma combined revenues of ~US$2.5 billion.
- In December 2021, Baxter announced the acquisition of Hill-rom, a leading manufacturer of spirometry products. This combination unlocked the next phase of the company's transformation for greater impact on patients, employees, clinicians, and shareholders worldwide.
- In November 2021, COSMED launched the 2nd generation of OMNIA Software, the most comprehensive data management platform for metabolic, lung function, and body composition assessment.
- In April 2021, the US FDA cleared NuvoAir's Air Next connected spirometer device. According to the FDA’s premarket notification database, the Stockholm, Sweden-based company submitted its application in November 2018.
- In February 2020, COSMED acquired assets of Innovision ApS, a Danish Company with significant know-how and expertise in the design of products for hemodynamic (cardiac output), ventilation heterogeneity (lung clearance index), and metabolic measurements (VO2Max).
- In August 2019, Hill-rom entered a definitive agreement to acquire Breathe Technologies, Inc., developer and manufacturer of a patented wearable, noninvasive ventilation technology that supports improved patient mobility, for a cash consideration of US$130 million.
North America dominated the spirometers market in 2021. The market in the region is expected to grow in the coming years due to the rising prevalence of respiratory disorders and the increasing number of product launches by market players. The growth of the US spirometer market is attributed to the rise in the prevalence of respiratory diseases due to the increasing incidence of smoking among people. According to the CDC, ~40 million adults in the US smoke cigarettes, and around 4.7 million middle and high school students use at least one tobacco product, including e-cigarettes. Moreover, every day, around 1,600 US youth younger than 18 years smoke their first cigarette. In addition, the FDA approvals for spirometers are rising for early detection of respiratory disorders. For instance, in January 2020, the US FDA cleared NuvoAir's connected spirometer device. Thus, these factors are expected to bolster the spirometer market growth across the US in the coming years.
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Spirometers Market: Impact of COVID-19 Pandemic
There has been a rising demand for spirometers amid the COVID-19 pandemic. The spirometer market has a highly technological and advanced research industry. The spirometer market witnessed a positive impact during the pandemic due to increased demand for COVID-19 spirometers. Patients suffering from COPD, pneumonia, acute chest syndrome, and other similar respiratory disorders often use an incentive spirometer. Researchers at the University of Illinois at Chicago suggested the use of an incentive spirometer for the treatment of COVID-19 patients suffering from mild to moderate respiratory symptoms, according to a research report published by the American Journal of Emergency Medicine in January 2021. Therefore, the adoption of spirometers is increasing during the pandemic. Thus, the market has witnessed a positive impact post the first wave of the COVID-19 outbreak.
Rising Prevalence of Respiratory Diseases Influences Overall Market Growth
The higher prevalence of respiratory disorders is related to the decrease in the size of the upper airway lumen in the aging population. Lung diseases are among the most common medical conditions across the world. Further, millions of people are suffering from various types of respiratory diseases. Moreover, smoking, genetic factors, and infections are among the common factors responsible for respiratory diseases. Medical conditions, including asthma, chronic obstructive pulmonary disease (COPD), chronic bronchitis, cystic fibrosis, and lung cancer, are significant public health burdens. Patients suffering from respiratory disorders commonly experience difficulty in breathing. Further, early detection and diagnosis can help in treating patients suffering from respiratory diseases. To treat these patients, spirometry is a crucial technology that assists in indulging in the severity of the infection and avoids misdiagnosis. Thus, the increasing incidence of respiratory diseases drives the growth of the market.
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Spirometers Market: Segmental Overview
Based on type, the spirometer market is segmented into handheld spirometers, table-top spirometers, and desktop spirometers. The table-top spirometers segment holds the largest market share in 2022. However, the handheld segment is anticipated to register the highest CAGR during the forecast period as the small, lightweight, and easily portable handheld spirometers are becoming universal in the industry. Based on technology, the spirometer market is segmented into volume, flow, and peak flow. In 2022, the flow segment holds the largest market share. However, the peak flow segment is expected to register the highest CAGR from 2022 to 2028, due to its working pattern as patients blow into a mouthpiece at one end of the device, and the peak flow meter measures the force of the air flowing out of the lungs in liters per minute. Based on application, the spirometer market is segmented into asthma, chronic obstructive pulmonary disease, cystic fibrosis, and others.
In 2022, the chronic obstructive pulmonary disease segment holds the largest share of the market. Moreover, the same segment is expected to register the highest CAGR from 2022 to 2028, owing to the growing prevalence of COPD and the adoption of easy diagnosis of COPD offered by spirometry.
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Browse Adjoining Reports:
Spirometer Transducers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Turbine Sensor, Temperature Sensor); Application (Hospitals, Clinics, Others) and Geography
Respiratory Measurement Devices Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Product (Pulse Oximetry Systems, Spirometers, Peak Flow Meters, Capnographs); Indication (COPD, Asthma, Bronchitis, Others); End User (Hospitals and Clinics, Ambulatory Surgical Care Centers, Homecare Settings, Others) and Geography
Respiratory Monitoring Devices Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Product (Spirometer, Pulse Oximeter, Peak Flow Meter, and Capnographs), End User (Hospitals, and Home Care) and Geography
Pulmonary Pressure Monitors Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Coverage : Product Type (Oximeters, Capnographs, and Spirometers); Application (Respiratory Disorders, Glaucoma, Cardiac Disorder, Neurological Disorder, Dialysis, and Others); Procedures (Invasive, Non-invasive); End-user (Hospitals, Homecare settings, Ambulatory Surgical Centers, Clinics, Diagnostics Laboratories, and Others)
Respiratory Care Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product {Therapeutic Devices [Positive Airway Pressure (PAP) Devices (CPAP Devices, APAP Devices, and BiPAP Devices), Oxygen Concentrators (Fixed Oxygen Concentrators and Portable Oxygen Concentrators), Ventilators, Inhalers (Metered Dose Inhalers and Dry Powder Inhalers), Nebulizers, Humidifiers, and Others], Monitoring Devices (Pulse Oximeters, Capnography, and Gas Analyzers), Diagnostic Devices (Spirometers, Polysomnography Devices, Peak Flow Meters, and Other Diagnostic Devices), and Consumables & Accessories (Masks, Disposable Resuscitators, Tracheostomy Tubes, Breathing Circuits, and Other Consumables & Accessories)}, Indication [Chronic Obstructive Pulmonary Diseases (COPD), Sleep Apnea, Asthma, Infectious Diseases, and Others], and End User (Hospitals, Home Care, and Ambulatory Care)
Positive Airway Pressure (PAP) Devices Market to 2027 - Global Analysis and Forecasts By Product (Automatic Positive Airway Pressure (APAP) Devices, Continuous Positive Airway Pressure (CPAP) Devices, Bilevel Positive Airway Pressure (BPAP) Devices); End User (Sleep Laboratories & Hospitals, Home Care/Individuals) and Geography
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