PUBLISHER: The Business Research Company | PRODUCT CODE: 1539773
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539773
Pulmonology devices encompass medical instruments and equipment employed for diagnosing, treating, and managing respiratory system conditions and diseases. These devices are essential for evaluating lung function, monitoring respiratory health, administering therapeutic interventions, and supporting patients with respiratory disorders.
Key products within the pulmonology devices market include endobronchial ultrasound (EBUS) needles, pulmonary biopsy devices, airway stents, single-use bronchoscopes, and other specialized tools. EBUS needles, utilized during bronchoscopy, are designed for collecting tissue samples from the lungs and nearby lymph nodes. They are used in various conditions such as chronic obstructive pulmonary disease (COPD), lung cancer, tracheal and bronchial stenosis, foreign body extraction, among others. These devices find application in pulmonology clinics, hospitals, and ambulatory surgical centers.
The pulmonology devices market research report is one of a series of new reports from The Business Research Company that provides pulmonology devices market statistics, including the pulmonology devices industry global market size, regional shares, competitors with pulmonology devices market share, detailed pulmonology devices market segments, market trends, and opportunities, and any further data you may need to thrive in the pulmonology devices industry. These pulmonology devices market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The pulmonary devices market size has grown rapidly in recent years. It will grow from $1.23 billion in 2023 to $1.36 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The increase during the historical period can be linked to a rise in chronic respiratory illnesses, a growing focus on preventive healthcare, higher adoption rates of pulmonology devices, an increase in diseases necessitating endoscopic ultrasound procedures, and a growing elderly population.
The pulmonary devices market size is expected to see rapid growth in the next few years. It will grow to $2.05 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to an increase in respiratory disease prevalence, escalating levels of air pollution, expansion in-home healthcare services, heightened awareness and early diagnosis initiatives, and the expansion of healthcare infrastructure. Key trends anticipated in the forecast period include the integration of artificial intelligence, the expansion of telemedicine and remote monitoring capabilities, advancements in portable and wearable medical devices, the use of robotic technology in minimally invasive diagnostic procedures, and an increase in home-based care services.
The increase in the prevalence of respiratory diseases is expected to drive growth in the pulmonology devices market. Respiratory diseases encompass a range of medical conditions affecting the airways, lungs, and respiratory muscles, often caused by factors such as air pollution, smoking, and occupational hazards. Pulmonology devices play a crucial role in managing these conditions by facilitating accurate diagnosis, continuous monitoring, and effective treatment through tools such as spirometers, inhalers, pulse oximeters, and ventilators. This ultimately enhances patient outcomes and improves quality of life. For example, according to the Scottish Public Health Observatory, rates of chronic obstructive pulmonary disease (COPD) began to rise as the effects of COVID-19 lessened, underscoring the increasing burden of respiratory diseases. Therefore, the growing prevalence of respiratory diseases is a key driver of the pulmonology devices market.
Leading companies in the pulmonology devices market are focusing on developing innovative products incorporating advanced technologies to enhance patient comfort, treatment efficacy, and the management of various respiratory conditions. One such technology is bilevel positive airway pressure (BiPAP), which provides two pressure settings-one for inhalation (IPAP) and one for exhalation (EPAP)-offering more comfortable continuous pressure for users. For instance, in February 2024, ResMed, a US-based company specializing in cloud-connected medical devices, launched the AirCurve 11 series of advanced BiPAP machines. The AirCurve 11 VAuto model adjusts pressure during exhalation to align more closely with the patient's natural breathing pattern, enhancing comfort and compliance for conditions such as sleep apnea. Additionally, the AirCurve 11 ASV model utilizes adaptive servo-ventilation (ASV) technology, which monitors and adjusts ventilation 50 times per second to stabilize the patient's breathing patterns. These innovations demonstrate a commitment to improving respiratory care through cutting-edge technologies in pulmonology devices.
In March 2022, Sandoz, a subsidiary of Novartis, a Switzerland-based pharmaceutical company, completed the acquisition of Coalesce Product Development Limited for an undisclosed sum. This acquisition is expected to strengthen Sandoz's portfolio in respiratory medicines and enhance patient access to advanced, high-quality therapies. Coalesce Product Development Limited, based in the UK, specializes in medical and drug delivery devices within the respiratory markets, leveraging expertise in mechanical engineering, electronics, and industrial design.
Major companies operating in the pulmonology devices market are Medtronic, Koninklijke Philips N.V., GE Healthcare, Baxter, Boston Scientific Corporation, Medline Industries LP., Olympus Corporation, Omron Healthcare, ResMed, Getinge, ICU Medical Inc., Fisher & Paykel Healthcare Limited, Ambu A/S, Vyaire Medical Inc., Drive DeVilbiss Healthcare, PENTAX Medical, Hamilton Medical, Nonin Medical, CAIRE Inc., Pulmonx Corporation, Verathon Inc., Draegerwerk AG & Co. KGaA, NIOX
North America was the largest region in the pulmonology devices market in 2023. The regions covered in the pulmonology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the pulmonology devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The pulmonary devices market consists of sales of spirometers, peak flow meters, nebulizers, and pulse oximeters. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Pulmonology Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pulmonology devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pulmonology devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The pulmonology devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.