Market Trends of Spirometers Industry
This section covers the major market trends shaping the Spirometers Market according to our research experts:
Hand-Held is Expected to Witness Significant Growth in the Spirometers Market
The hand-held spirometers segment is expected to witness significant growth in the spirometers market over the forecast period owing to factors such as the increasing number of COPD and asthma cases, the growing number of smokers across the globe, and increasing product launches.
Hand-held spirometers are small, lightweight, and easily portable, thereby becoming more ubiquitous in the industry. The advantages of hand-held spirometers over conventional spirometers, such as being easy to use and being able to be used outside the hospital setting too, are expected to augment segment growth.
According to an article published in Primary Care Respiratory Medicine in April 2022, the accuracy of three portable spirometers, the PIKO-6, COPD-6, and PEF, was determined. It has been observed that the accuracy of PIKO-6 was higher (0.95) than that of COPD-6 (0.91) and PEF (0.82). In addition, as per the same source, portable spirometers, such as the PIKO-6 and COPD-6, can provide a variety of respiratory function indicators that aid in the diagnosis of COPD patients, as well as in determining the severity of the condition and assisting in the selection of an effective treatment strategy. Thus, portable spirometers are ideal for primary care use and offer a practical method for the early detection of COPD due to their high accuracy, user-friendliness, patient-friendliness, affordability, and portability. This is expected to increase their adoption among patients, hence propelling the segment's growth.
Furthermore, the rising company activities and increasing product launches are also expected to increase the availability of hand-held spirometer devices, which in turn is anticipated to fuel the segment's growth. For instance, in November 2021, Cipla launched a pneumotach-based portable, wireless spirometer in India. With this launch, the company intends to revolutionize obstructive airway disease (OAD) diagnosis, in line with its ambition to strengthen its position as the lung leader in India.
Therefore, owing to the aforementioned factors, such as the growing number of smokers, the increasing burden of COPD, and increasing product launches, the studied segment is expected to grow over the forecast period.
North America is Expected to Have the Significant Market Share Over the Forecast Period
North America is expected to witness healthy growth in the spirometer market over the forecast period. The factors contributing to market growth are the rising prevalence and incidences of respiratory diseases, the presence of a well-established healthcare infrastructure along with high healthcare spending, and the growing adoption of home-health devices among consumers.
The rising burden of respiratory diseases such as asthma, COPD, and others is expected to increase the demand for spirometers, thereby boosting market growth. For instance, according to the Asthma and Allergy Foundation of America (AAFA), in April 2022, roughly 1 in 13 Americans had asthma, which is about 25 million people. According to the same source, about 5.1 million American children have asthma under the age of 18. The same source stated that asthma is more common in female adults than in male adults.
Furthermore, the United States is under pressure to reduce the burden of respiratory disease, and the economic impact is significant.For instance, in an article published in the International Journal of COPD in March 2021, the researchers estimated that the annual direct costs of COPD in the United States are USD 18 billion and are expected to reach USD 22 billion by 2030.
Furthermore, the rise in the number of initiatives undertaken by government and non-government organizations is increasing overall revenue. For instance, the CDC's National Asthma Control Program (NACP) provides funds for educating asthma-affected patients. Such initiatives are likely to increase awareness about asthma, which will increase the adoption of spirometry tests, which in turn is anticipated to augment market growth over the forecast period.
Moreover, the increasing product approvals and launches in the region are also contributing to market growth. For instance, in April 2021, Vitalograph launched a next-generation Pneumotrac spirometer in the United States. The Pneumotrac spirometer is integrated with Spirotrac PC software and is a powerful tool for respiratory diagnosis in both adults and pediatrics.
Therefore, owing to factors such as the high burden of respiratory diseases and increasing product approvals, the studied market is expected to grow in the North America region over the forecast period.
