Electronic Spirometer Market: Current Analysis and Forecast (2023-2030)

Report Description

The electronic spirometer market was valued at USD 508.3 billion in 2022 & is expected to grow at a CAGR of 5% from 2023-2030. The electronic spirometer market refers to the industry that focuses on the manufacturing, distribution, and sales of electronic spirometers. A spirometer is a medical device used to measure lung function and diagnose respiratory conditions such as asthma, chronic obstructive pulmonary disease (COPD), and other pulmonary disorders. Electronic spirometers are advanced versions of spirometry devices that incorporate electronic components, sensors, and software to provide accurate and precise measurements of lung capacity and airflow. These devices typically feature digital displays, data storage capabilities, and connectivity options for data transfer and analysis. The growing demand for electronic spirometers can be attributed to the increasing prevalence of respiratory diseases around the globe. For instance, according to the national center for health statistics, the prevalence of physician ambulatory-care visits for respiratory diseases is highest in persons aged >85 years and is 57% and 85% lower in those aged 75 to 84 years and 65 to 74 years, respectively. Respiratory-disease mortality rates across these age groups were within 15% of each other. Owing to the glaring statistics the increasing prevalence rate is growing in the case of respiratory diseases which increases the demand for spirometers for checking lung capacity and would contribute to the growth of the market in the forthcoming period as well. Moreover, the growing awareness about the importance of early diagnosis and timely intervention in respiratory diseases. Electronic spirometers enable healthcare professionals to detect lung function abnormalities and respiratory disorders at an early stage, facilitating early treatment and better patient outcomes. Furthermore, the electronic spirometer market is anticipated to grow on account of the rise in research and development activities. 

Some of the major players operating in the market are Hill-Rom Holdings, Inc, GANSHORN Medizin Electronic GmbH, CareFusion Corporation, COSMED srl, Philips Healthcare, Fukuda Sangyo Co., Ltd, MGC Diagnostics Corporation, Sibelmed, SDI Diagnostics, Medical International Research Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst type, the table-top spirometers segment held a significant share of the market in 2022.”

Based on type, the market is segmented into hand-held spirometers and table-top spirometers. Among them, the table-top spirometers segment captured a significant share of the market in 2022. A tabletop spirometer is an improved version of a traditional spirometer that helps measure lung function. It can be easily moved from one place to another, making it more convenient and easier to use. The portable model is compact and made from robust materials, so it can be easily handled during testing procedures without compromising the quality or accuracy of the results.

“Amongst end-user, the COPD industries segment held the higher CAGR in the market in 2022.”

Based on the application, the electronic spirometer market has been classified into asthma, COPD, chronic bronchitis, and others. Among them, the COPD category grabbed a considerable market share and is expected to grow at a significant CAGR during the forecast period. This is due to the high number of people suffering worldwide from mild to severe COPD and the easy diagnosis of COPD through spirometry. In Europe, the prevalence of COPD was estimated to be around 7.6%. Spirometry plays an extremely important role in the diagnosis and monitoring of COPD.

“North America dominated the Electronic spirometer market in 2022.”

The North America region has witnessed a significant rise in the prevalence of respiratory diseases such as asthma, COPD, and lung cancer. This increasing burden of respiratory conditions has created a higher demand for electronic spirometers for accurate diagnosis, monitoring, and management of these diseases.  In addition, Advancements in technology have led to the development of more advanced electronic spirometers with improved accuracy, ease of use, and connectivity features. These devices offer enhanced data analysis capabilities, intuitive user interfaces, and seamless integration with electronic health records (EHR) systems. Such technological advancements have contributed to the growth of the electronic spirometer market in North America. Moreover, several companies in the electronic spirometer market have engaged in strategic collaborations and partnerships to expand their market presence and enhance their product offerings. These collaborations often focus on integrating spirometry solutions with other healthcare technologies, such as electronic health records, telemedicine platforms, and respiratory management software. Such collaborations have boosted market growth by providing comprehensive respiratory care solutions. For instance, In March 2021, Philips Healthcare, a leading player in the electronic spirometer market, launched the Philips Respironics E30 ventilator to address the increased demand for respiratory care during the COVID-19 pandemic. The device offers a simplified setup, easy operation, and remote monitoring capabilities, making it suitable for both home and healthcare facility use.

Electronic Spirometer Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Electronic spirometer market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Electronic Spirometer Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Electronic spirometer market were the three major steps undertaken to create and analyze the adoption of Electronic spirometer in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Electronic spirometer market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Electronic spirometer market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the electronic spirometer market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, application and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the electronic spirometer market. Further, we conducted factor analysis using dependent and independent variables such as type, application and end-user of the electronic spirometer market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Electronic spirometer market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Electronic spirometer market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Electronic spirometer market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Electronic spirometer market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global electronic spirometer market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type, application and end-user in the global Electronic spirometer market.

The Main Objective of the Global Electronic spirometer Market Study

The current & future market trends of the global Electronic spirometer market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Electronic spirometer market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of the type, application and end-user.
• Define and analysis of the regulatory framework for the Electronic spirometer
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Electronic spirometer market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the Electronic spirometer market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry

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