Global Pulmonology Devices Market is anticipated to grow significantly and reach an estimated value of US$ 3.8 billion by 2033 | FMI

The growing popularity of screening and therapeutic Pulmonology Devices Market is expected to persist as the world’s elderly population grows. This is projected to open up novel opportunities for the Pulmonology Devices market to grow over the forecast duration, which is expected to grow at a CAGR of close to 10.3% through 2033.

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According to the World Health Organization (WHO), the overall number of cases has risen to 113,820,168, with a projection of 2,527,891 fatalities as of March 1, 2021. Over the coming years, the increasing respiratory disease challenges are projected to create significant growth possibilities in the Pulmonology Devices market.

Every year, the incidence of respiratory disorders such as lung cancer, asthma, chronic obstructive pulmonary disorder (COPD), and cystic fibrosis rises, fueling the market growth. As per the World Cancer Research Fund, lung cancer was one of the leading causes of death in 2018, with 2 million new cases reported that year.

Key Takeaways:

• In 2023, the global market is expected to be worth US$ 1.4 billion.
• Over the next few decades, the Indian market is anticipated to grow at a CAGR of 10.9%.
• In 2022, North America had a revenue share of more than 32%.
• Over the next few decades, the market in the United Kingdom is expected to grow at an 8.7% CAGR.
• In 2022, the segment lung cancer held a market share of 30.82%.

”As a result of the increasing prevalence of pulmonary disease, there is a greater need for cutting-edge methods for precise diagnosis and treatment. Some of the most prevalent drivers of respiratory conditions are inhaling nicotine, air pollution, and industrial and chemical pollutants, which reduce air quality and raise the geriatric population.” says FMI analyst.

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Competitive Landscape

Some of the market’s strongest competitors are making investments in studies and research (R&D) in order to facilitate the provision of an extensive selection of leather manufactured in a variety of colors and substances for a variety of applications. Companies hope to keep up with the changing environment by doing so. For instance,

• Noah Medical, a California-based medical robotics startup, declared on Wednesday that it has raised $150 million in additional financing for April 2023. Softbank Vision the fund and Prosperity7 Ventures co-led the funding initiative. The shareholders in the round included Hillhouse Capital, Sequoia Capital China, and UpHonest Capital.
• FUJIFILM India revealed a collaboration with the Department of Pulmonary Medicine, Thoracic Oncology Disease Management Group, Tata Memorial Centre (TMC), Mumbai, in April 2023. The collaboration intends to build an educational center at TMC.

Major Players are:

• Boston Scientific Corporation
• CONMED Corporation
• Olympus Corporation
• Cook Medical Incorporated
• Medi-Globe GmbH
• Ambu A/S
• Verathon, Inc
• United Medical Surgical Services Ltd
• Hunan Vathin
• Micro-Tech (Nanjing) Co., Ltd
• Merit Medical Systems

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the Global Application transformation market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.

The study reveals essential insights by Product (Pulmonary Biopsy Devices, Endobronchial Ultrasound (EBUS) Needles, Airway Stents, Airway Extraction Baskets, Single-Use Bronchoscopes), Indication (Lung Cancer, COPD, Foreign Body Extraction, Tracheal and Bronchial Stenosis), End User & Region.

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Pulmonology devices Market by Category

Product:

• Pulmonary Biopsy Devices
  • Single- Use Biopsy Forceps
  • Cytology Brushes
  • Microbiology Brushes
• Endobronchial Ultrasound (EBUS) Needles
  • Endobronchial Ultrasound Fine Biopsy Needles
  • Endobronchial Ultrasound Transbronchial Aspiration Needles
• Airway Stents
  • Silicon Stents
  • Nitinol Stents
  • Stainless Steel Stents
• Airway Extraction Baskets
• Single-Use Bronchoscopes

Indication:

• Lung Cancer
• COPD
• Foreign Body Extraction
• Tracheal and Bronchial Stenosis
• Others

End User:

• Hospitals
• Pulmonology Clinics
• Ambulatory Surgical Centers

About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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