English Extended Distribution PR-Wirein Press Release Reportedtimes Research Newswire

Spirometer Market Size Estimated To Reach $1.4 Billion by 2027

Spirometer Market size is estimated to reach $1.4 billion by 2027, growing at a CAGR of 3.4% during the forecast period 2022-2027. Spirometer is a device for determining the air capacity of the lungs. Spirometry is a typical, and comparatively effortless, test utilized to assess pulmonary function — to evaluate how well the lungs are performing. One of the most typical symptoms of cystic fibrosis (CF) is a downturn in lung health. Spirometry is frequently utilized to assist in diagnosing and supervising patients with CF and to discover issues like infections that can worsen the ailment. It is also frequently utilized in clinical trials of possible CF therapies to decide how efficient the treatment might be for a patient. A peak flow meter only assesses the rate at which air is compelled out of the lungs. This is termed the peak expiratory flow. Investigations have concluded that assessment of everyday home spirometry in patients with Idiopathic Pulmonary Fibrosis is greatly clinically informative and is possible to carry out for nearly all of the patients. The role of spirometry in the diagnosis of respiratory diseases is vital in the initial screening and evaluation of “severity and type of respiratory disease”.

The consistent innovations attributed to technological developments brought about by the comprehensive research and development of new and progressive diagnostics and monitoring technologies are set to drive the Spirometer Market. The expanding population of the elderly and the application of smartphone-based handheld wireless spirometer for home care of respiratory diseases are set to propel the growth of the Spirometer Market during the forecast period 2022-2027. This represents the Spirometer Industry Outlook

Spirometer Market Segment Analysis – By Type:

The Spirometer Market based on type can be further segmented into Hand-Held and Table-Top. The Table-Top Segment held the largest market share in 2021. This growth is owing to the surging technological progress in this segment. Spirometer is extensively applied to treat respiratory diseases. The soaring accuracy offered by desktop spirometers in comparison with other product types and the greater facilities available along with table top spirometers like in-built printers is further propelling the growth of the Table-Top segment.
Furthermore, the Hand-Held segment is estimated to grow with the fastest CAGR of 4.2% during the forecast period 2022-2027 owing to the increasing predominance of incessant respiratory diseases requiring proliferating application of compact and portable spirometers in households in conjunction with the increasing application of these devices by smokers and asthma patients and the consistent technological innovations happening in these devices.

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Spirometer Market Segment Analysis – By Technology:

The Spirometer Market based on technology can be further segmented into Volume Measurement and Flow Measurement. The Volume Measurement Segment held the largest market share in 2021. This growth is owing to the beneficial feature of generating precise outcomes with effortless management of the device. Spirometer is applied for the diagnosis of respiratory diseases. The proliferating application of Volume Measurement for the treatment of respiratory diseases like asthma and cystic fibrosis is further propelling the growth of this segment.

Furthermore, the Flow Measurement segment is estimated to grow with the fastest CAGR of 4.9% during the forecast period 2022-2027 owing to the boost in the count of key players involved in launching progressive devices like wireless spirometers for treatment of respiratory diseases.

Spirometer Market Segment Analysis – By Geography:

The Spirometer Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World. North America (Spirometer Market) held the largest share with 38% of the overall market in 2021. The growth of this region is owing to the increasing predominance of respiratory diseases in the North American region. As per Centers For Disease Control And Prevention (CDC), the Weighted Number With Crrent Asthma as per Current Asthma Prevalence (2019) is 25,131,132. The existence of key players like 1.MGC Diagnostics Corporation in U.S. is further propelling the growth of the Spirometer Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like surging count of firms entering into the untapped economies in the Asia-Pacific region. The soaring investments of key players propelling the demand for progressive products and the heightening application of spirometers for diagnosis of respiratory diseases are further fuelling the progress of the Spirometer Market in the Asia-Pacific region.

Spirometer Market Drivers

Surging Applications Of Spirometer For Diagnosis Of Respiratory Diseases Are Projected To Drive The Growth Of Spirometer Market:

Spirometry is a convenient tool for diagnosing the cause of unknown respiratory symptoms and also supervising patients with recognized respiratory diseases. It stays the gold standard test for the diagnosis of obstructive airway diseases, inclusive of asthma and Chronic Obstructive Pulmonary Disease (COPD). As per World Health Organization (WHO), Chronic Obstructive Pulmonary Disease (COPD) is the third leading cause of demise globally, bringing about 3.23 million demises in 2019. Spirometry, assessment of the diffusion factor, bronchial incitement tests, and compelled oscillation methods have been utilized in different clinical uses in the diagnosis and supervising of respiratory diseases, like chronic obstructive pulmonary disease, interstitial lung diseases, and asthma. Certain other diseases where spirometry may assist in diagnosis as part of a panel of pulmonary function tests (PFTs) include emphysema (a kind of COPD), bronchiectasis (a kind of COPD), chronic bronchitis (a kind of COPD), pulmonary fibrosis inclusive of idiopathic pulmonary fibrosis) and cystic fibrosis. Spirometry testing serves a vital role in the diagnosis and handling of lung disease in the primary care setting. The surging applications of spirometer for diagnosis of respiratory diseases are therefore fuelling the growth of the Spirometer Market during the forecast period 2022-2027.

Novel Product Launches Involving Spirometer Are Expected To Boost Product Demand:

Spirometers are utilized in the diagnosis of respiratory diseases. In November 2021, Cipla Limited (referred to as Cipla, here afterwards) declared the introduction of Spirofy®, India’s earliest pneumotach based portable, wireless Spirometer, on World COPD Day. With this introduction, the firm determines to transform Obstructive Airway Disease (OAD) diagnosis, in line with its initiative to reinforce its position as the lung leader in India. This is a portion of the firm’s #LungAttack campaign that attempts to fuel awareness regarding COPD and inspire early diagnosis. Cipla’s Spirofy® is an outcome of 5 years of detailed in-house research by the Integrated Product Development (IPD) team, and it targets to revolutionize Obstructive Airway Disease (OAD) diagnosis in India. This progressive device guarantees soaring outcome precision and individual patient security utilizing Bacterial Viral Filters. Spirofy® is completely wireless with good battery support, making it appropriate for application in outdoor camps, remote areas with power deficiencies, or clearly offering adaptability to specialists and ease of application. The device produces reports in real-time, which can be printed utilizing a portable wireless thermal printer instantaneously, or a pdf version can be shared on the phone. Cipla will engage in the coaching of doctors in the clarification of spirometry outcomes. The novel product launches involving spirometer are therefore driving the growth of the Spirometer Market during the forecast period 2022-2027.

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Spirometer Market Challenges

Lack of Skilled Workforce Is Hampering The Growth Of The Spirometer Market:

As per World Health Organization (WHO), some statistics pertaining to health workers are as follows:
“The density of nursing and midwifery personnel in Americas and European regions are the highest, over 82 and 77 per 10,000 population respectively. The density of medical doctors is highest in the European region around 43 per 10, 000 population. Conversely, the African region remains with the lowest density of medical doctors (around 2 per 10,000 population), and, nursing and midwifery personnel (around 10 per 10,000 population).”
From the above, there is a dearth of medical professionals in the developing regions of the world as observed in the case of Africa above.

In spite of the soaring pervasiveness of asthma and COPD worldwide, some determinants restrict the acceptance of spirometers. The lack of a skilled workforce for performing diagnostic tests restrains the growth of the market. Pulmonary function tests are a range of distinct breathing tests, which trained pulmonary function technologists can guide. However, there is a dearth of skilled healthcare experts in developing nations. The immigration of proficient healthcare workers to developed nations is the principal cause of this deficiency. The inclination to migrate to developed economies is chiefly owing to the pursuit of superior wages and working conditions. These issues are thus hampering the growth of the Spirometer Market.

Spirometer Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Spirometer Market. Key companies of this market are:

  1. MGC Diagnostics Corporation
  2. NDD Medical Technologies
  3. nSpire Health Inc.
  4. Philips Healthcare
  5. Smiths Medical
  6. Schiller
  7. Vyaire Medical
  8. SDI Diagnostics
  9. Fukuda Sangyo
  10. Sibelmed

Acquisitions/Product Launches:

In November 2021, Royal Philips declared novel AI-enabled innovations in MR imaging introducing at the Radiological Society of North America (RSNA) annual meeting (November 23 – December 2, Chicago, USA). Philips’ novel MR portfolio of intelligent combined solutions is planned to speed up MR exams, streamline workflows, make perfect diagnostic quality, and assist in guaranteeing the effectiveness and sustainability of radiology operations. As MR imaging plays an ever-surging role in accuracy diagnosis, radiology departments encounter numerous challenges like workload demands owing to the accumulation of cases issuing from the COVID-19 pandemic, an increasing population of clinically challenging patients, and a global deficiency of skilled technicians.

In January 2021, Royal Philips declared its presence in the first-ever, all-digital CES 2021, running through Jan. 14. Since the introductory onset of COVID-19 a year ago, healthcare has accomplished an accelerated revolution and expedition of digital health technologies. At the time of CES 2021, Philips will accentuate a rare hybrid view of progressive technology solutions fast-tracking healthcare, moving external to the four walls of the hospital and into the home.

In September 2020, Royal Philips declared novel techniques to health and healthcare, and the switch to health-at-home, at its virtual consumer health press event. Against the backdrop of COVID-19, the requirement for consumers to remain as healthy as achievable is more appropriate than ever. At the contemporary virtual event, coinciding with IFA 2020, Philips declared extension of its consumer health portfolio with a series of innovations to assist people to keep up health-improving lifestyle practices, and digital opportunities that permit them to remain in touch with their healthcare professionals virtually now that physical doctors’ visits are restricted.

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Key Takeaways

Geographically, North America Spirometer Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the increasing predominance of Chronic Obstructive Pulmonary Disease (COPD), Asthma, and additional respiratory diseases in the North American region.

Spirometer Market growth is being driven by the rising pervasiveness of respiratory diseases like asthma and Chronic Obstructive Pulmonary Disease (COPD) across the world and the surging inclination towards home healthcare. However, the limited awareness of Chronic Obstructive Pulmonary Disease (COPD) amidst the common population resulting in the restricted application of spirometers for detection is one of the major factors hampering the growth of Spirometer Market.

Spirometer Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Spirometer Market report.

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Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677

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