The global Spirometer Market Growth Accelerated by Adoption of Digital Spirometer
Spirometers are medical devices used for measuring lung function by measuring the amount of air inhaled and exhaled from the lungs. Portable and desktop spirometers measure inhaled and exhaled volumes and flows that are useful for diagnosing and monitoring respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). Features such as ease of use, accurate results, long battery life, touchscreen interface, and connectivity options for data transfer are some advantages associated with spirometers.
The global Spirometer Market is estimated to be valued at US$ 1,148.7 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 key trends:
Adoption of digital spirometry is one key trend driving growth of the spirometer market. Digital spirometers integrate advanced software and connectivity features which improves data collection, management and interpretation. Bluetooth and Wi-Fi connectivity enables sharing of patient test results with physicians remotely for better monitoring and diagnosis. Technological advancements such as touchscreens and integrated software for report generation are enhancing user experience of spirometry testing. Entry of tech giants offering cloud based digital spirometry solutions is expected to boost adoption rates. For instance, Vyaire launched digital spirometer leveraging artificial intelligence for accelerated workflow and clinical decision support. Increasing preference for digital point-of-care testing is positioned to benefit spirometer market growth over the forecast period.
Segment Analysis
The global spirometer market is dominated by diagnostic spirometers sub segment which holds around 60% market share. Diagnostic spirometers finds high usage in clinical settings and hospitals for lung function testing and diagnosis of various respiratory diseases like asthma and COPD. The device provides accurate real time measurement and graphical display of lung volumes helping medical professionals to efficiently measure lung volumes parameters like FEV1, FVC etc. which play a crucial role in respiratory disease diagnosis and management.
Key Takeaways
The Global Spirometer Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to grow at a CAGR of 8.5% during the forecast period to reach a value of US$ 1148.7 Mn by 2030 from US$ 756.5 Mn in 2023.
Regional analysis
North America dominates the global spirometer market and is expected to maintain its dominance over the forecast period. High prevalence of respiratory diseases like asthma and COPD along with favorable reimbursement policies for respiratory devices drives the spirometer market growth in the region. Asia Pacific is projected to witness the fastest growth over the forecast period supported by increasing healthcare expenditure, rapidly growing geriatric population and raising awareness about respiratory diseases.
Key players
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. These key players are focusing on new product launches and partnerships to strengthen their market position.
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