Spirometry Market Overview:
Spirometry Market Size was valued at USD 1.93 billion in 2022 and is projected to grow from USD 0.6 Billion in 2023 to USD 1.03 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 10.9% during the forecast period (2023 - 2030).
Spirometry is a test conducted by medical professionals to evaluate the status of lungs in order to diagnose the disorders related to the functioning of lungs. Spirometers are the medical devices that are utilized to conduct spirometry.
Market Drivers and Restraints:
Rise in prevalence of lung disorders due to increasing pollution, changing lifestyle, tobacco smoking addiction and others are inducing high demand for improved spirometry tests in the global market, which in turn is propelling the growth of the global spirometry market. Introduction of advanced medical devices that are compact and easy-to-use and increased healthcare expenditure are some other important factors that are fueling the growth of the global spirometry market. However, lack of awareness and low penetration of technologically advanced healthcare solutions are some of the major factors that are likely to restrain the growth of the global spirometry market during the assessment period.
Market Segmentation:
The global spirometry market has been segmented on the basis of product, technology, application, and end-user. Based on product, the spirometry market has been segmented into table-top spirometry, hand-held spirometry, and desktop (PC) spirometry. Based on technology, the spirometry market has been segmented into volume measurement spirometry, peak flow meters (PFM), and flow measurement spirometry. The flow measurement spirometry technology segment is sub-segmented into pneumotachograph system and mass flow meter. Based on application, the spirometry market has been segmented into diagnostic and treatment monitoring. The diagnostic segment has been sub-segmented into COPD, asthma, and interstitial pulmonary fibrosis. Based on end-users, the spirometry market has been segmented into research academic institutes, diagnostic centers, hospitals clinics, and home care.
Regional Analysis:
Geographically, the global human growth hormone market has been segmented into the Americas, Europe, Asia Pacific and the Middle East and Africa. The Americas accounted for the major share in the global spirometry market owing to the easy adoption of technically advanced medical devices, high prevalence of pulmonary disorders due to pollution and changing lifestyle and high healthcare expenditure by the population in this region. The Europe region is forecasted to expand at a significant growth rate in the global spirometry market during the assessment period owing to the high demand for advanced spirometers in the well-developed healthcare sector and proliferation of asthma cases in this region. The spirometry market in the Asia Pacific region is anticipated to expand at a notable growth rate in the global market owing to the increasing awareness regarding lung disorders and their adverse effects on health, increasing adoption of advanced healthcare solutions and high prevalence of lung disorders in this region. Improvement in healthcare infrastructure and enhanced healthcare budget are driving the spirometry market in the Middle East and Africa region.
Key Players:
The leading Spirometry Market players profiled by MRFR that are operating in the global spirometry market are Carefusion Corporation (the U.S.), NDD Medical Technologies, Inc. (the U.S.), Nihon Kohden Corporation (Germany), MGC Diagnostics Corporation (the U.S.), Vitalograph (the U.K.), Schiller AG (Switzerland), COSMED srl (Italy), Hill-Rom Holdings, Inc. (the U.S.), Midmark Corporation (the U.S.), Smiths Medical Inc. (the U.S.), and Koninklijke Philips N.V. (The Netherlands).
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