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Spirometer Market size was valued at USD 950.0 million in 2022 and is poised to grow at a significant CAGR of 10.5% from 2023 to 2029. Patients with severe respiratory conditions currently put a heavy burden on healthcare systems around the world, and over the next ten years, this burden is expected to increase. The two primary factors driving the growth of the global market are the rise in the prevalence of chronic pulmonary diseases and the rising R&D expenditure on portable electronics. Spirometry is essential for the diagnosis, monitoring, and management of these patients. Results from spirometry tests are important to medical practitioners since they help with issue diagnosis. Spirometry is a crucial piece of technology in this regard because it helps determine the severity of the infection and prevents incorrect diagnoses. As a result, it is reasonable to anticipate that the market for spirometer will expand given the rising prevalence of these respiratory disorders. The efficiency of essential bodily organs and functions declines with age. Spirometry results may help in the diagnosis of a number of lung conditions. Spirometry is routinely used to evaluate how well asthma and COPD drugs are functioning, ensuring that patients are getting the most out of their treatment. The COVID-19 outbreak has increased the prevalence of numerous respiratory diseases. In the U.K., therapy for acute exacerbations of CPPD episodes increased over the first six weeks of the COVID-19 pandemic compared to 2019, according to a report published in ERJ Open Research in January 2021.
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The market will expand quickly as a result of the rise in chronic obstructive pulmonary disease (COPD) prevalence, technological developments in the spirometer industry, and a rising demand for home healthcare. The incidence of chronic obstructive pulmonary disease (COPD), which affects 10.1% of persons globally who are 40 years of age or older, is frequent, preventable, and treatable. With 3.23 million fatalities in 2019, COPD was the third-leading cause of mortality worldwide. The majority of deaths (80%) occurred in low- and middle-income nations. The UN 2030 Agenda for Sustainable Development and the WHO Global Action Plan for the Prevention and Control of Noncommunicable Diseases (NCDs) both mention COPD.
The spirometer market is projected to expand at a CAGR of 10.15% during the forecast period.
Europe is the fastest-growing region for spirometer market
Hill-Rom Services, Inc., Fukuda Sangyo Co., Ltd., Chest M.I., Inc., MGC Diagnostics, Vyaire Medical, Inc.