A spirometer is a device used to measure the air capacity of the lungs by determining the volume of air inhaled or exhaled by the user. Spirometers are commonly used by healthcare professionals to check for lung diseases such as asthma, chronic obstructive pulmonary disease (COPD), and to monitor cystic fibrosis. The growing cases of respiratory diseases, coupled with smoking habits are leading to greater adoption of spirometers for diagnosis and monitoring of conditions.
The global spirometer market is estimated to be valued at US$ 1323.31 Mn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the spirometer market are The Quartz Corporation,Sibelco,Jiangsu Pacific Quartz Co., Ltd.,High Purity Quartz Pty Ltd.,Creswick Quartz,Nordic Mining ASA,Momentive Performance Materials Inc.,Australian Silica Quartz Group Ltd.,Fineton Development Limited,Solar Quartz Technologies,Covia Holdings Corporation,I-Minerals Inc.,Russian Quartz LLC. Out of these, The Quartz Corporation holds the major market share being the global leader in production of high-quality quartz and silica raw materials.
In terms of opportunities, there is growing prevalence of respiratory diseases owing to pollution, smoking habits providing significant growth opportunities for players in the spirometer market. Also, increasing adoption of home healthcare and remote monitoring presents new opportunities.
Globally, North America dominated the Spirometer Market Size owing to supportive healthcare policies and high awareness regarding respiratory diseases. However, Asia Pacific is expected to grow at a highest CAGR during the forecast period with China and India emerging as major markets.
Market drivers:
The increasing cases of respiratory diseases such as asthma and COPD around the world along with growing pollution levels and smoking rates are majorly driving the spirometer market growth. As per WHO data, respiratory diseases was the third leading cause of death globally in 2019. Early diagnosis enabled by widespread adoption of spirometers acts as a market driver.
Market restraints:
High cost of technologically advanced spirometers, limiting their adoption in price sensitive developing regions. Lack of awareness regarding lung function tests in rural areas also acts as a market restrain. Additionally, reimbursement concerns associated with spirometry procedures further challenges market growth to some extent.
Segment Analysis
The spirometer market is dominated by the diagnostic segment which accounts for over 70% of the total market share. Diagnostic spirometers are widely used for pulmonary function testing in hospitals and clinics to detect obstructive and restrictive lung diseases. They are considered the gold standard for lung testing and thus witness high demand. Peak flow meters form the next major segment and are mainly used for monitoring asthma and other respiratory conditions by measuring peak expiratory flow rate. Portable handheld spirometers are gaining popularity due to their compact size, ease of use and affordable pricing. They are primarily used for home monitoring of COPD and lung disease conditions.
Global Analysis
The North American region currently dominates the spirometer market with the largest share of over 35% attributed to technologically advanced healthcare infrastructure and high prevalence of respiratory diseases. Rising healthcare expenditure, growing geriatric population suffering from respiratory illnesses and recommendations for regular lung function testing are fueling market growth in the region. The Asia Pacific region is emerging as the fastest growing market for spirometers owing to increasing air pollution levels, growing burden of smoking and rise in lifestyle-related respiratory disorders. China, India and other Southeast Asian countries are witnessing heavy demand for diagnostic spirometers as well as patient monitoring devices. Europe holds the second largest market share led by countries such as Germany, UK and France with presence of major players and focus on preventive healthcare.
Get more insights on Spirometer Market
Spirometer Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the spirometer market include Benson Medical Instruments, Chest M.I., Fukuda Sangyo, Hill-Rom Inc., Jones Medical Instrument Company, Medical International Research, Midmark Corporation, NDD Medizintechnik AG, Schiller AG, Vitalograph, Vyaire Medical, Welch Allyn Inc., etc.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Spirometer Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/spirometer-market/download-sampleMarket DynamicsThe market is mainly driven by the rising prevalence of respiratory disorders and enhancing healthcare infrastructure.
In addition to this, growing urbanization and changing lifestyles in the emerging regions, tobacco consumption amongst professionals has risen significantly, has resulted in a raised occurrence of lung disorders in these regions.
Further, increasing awareness for sophisticated diagnostic techniques among consumers is catalyzing the growth of the market.
