Pulmonology Devices Market Growth, Size, Share, Trends, and Forecast 2032

What is the Market size of the Pulmonology Devices Industry?

According to the report published by Zion Market Research, the global Pulmonology Devices Market size was valued at USD 1,400.20 Million in 2023 and is predicted to reach USD 3,456.22 Million by the end of 2032. The market is expected to grow with a CAGR of 10.56% during the forecast period. The report analyzes the global Pulmonology Devices Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Pulmonology Devices Market industry.

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Global Pulmonology Devices Market: Overview

Pulmonology also termed as medical medicine or respiratory medicine is a branch of medicine that deals with diseases related to the respiratory system. Lung cancer, asthma, and some occupational lung diseases are some of the diseases that are been treated under this medical specialty. Thus, for a successful diagnosis of the disease and appropriately attend a patient, reliable pulmonology devices are preferred by pulmonologists.

Global Pulmonology Devices Market: Growth Factors

The global pulmonology devices market is growing at a lucrative rate. Factors that are majorly contributing to the growth of the global market include a rise in the prevalence of respiratory diseases, an increase in the need for effective pulmonology devices for the diagnosis of the diseases, and a rise in healthcare expenditure. As per the publication of WHO, around 65 million people have moderate to severe COPD of which at least 3 million die every year. Further, asthma, among the most common chronic disease of childhood is affecting approximately 14 percent of children and nearly 334 million are living with asthma.

On the other hand lung cancer, the most common lethal neoplasm across the world kills around 1.6 million people annually. To overcome such a huge burden of respiratory diseases there is a tremendous need for appropriate diagnosis and treatment of the patients which is feasible with the use of first class pulmonology devices. In addition to this, the government is taking initiatives and conducting programs to spread awareness & educate people regarding respiratory diseases. All these factors are contributing to the growth of the global pulmonology devices market. Moreover, the newly emerging field in pulmonary medicine such as interventional pulmonology and the increase in adoption of pulmonology devices to determine the best choice of treatment or avoid unnecessary surgery are also some of the key aspects that are equally contributing to the growth of the market.

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Furthermore, technological advancements to enhance the safety & efficacy of the devices may open beneficial opportunities for the growth of the global pulmonology devices market over the forecast period. However, lack of knowledge regarding the pulmonology devices and strict regulatory requirements for the approval of the devices are some of the key factors that may restrain the growth of the global pulmonology devices market.

It has been observed that the current COVID 19 pandemic conditions positively affected the growth of the pulmonology devices market. New guidelines issued by several medical regulatory authorities regarding the use of disposable or single-use bronchoscopes for bronchoscopy procedures have increased the demand for related devices. However, the use of reusable flexible bronchoscope devices observed to be decreased during the pandemic period. Nevertheless, the market is expected to bounce back to its normal growth track over the forecast period.

Global Pulmonology Devices Market: Segmentation

The global pulmonology devices market is categorized by product type, indication, end-user, and region.

Based on the product type, the global pulmonology devices market is bifurcated into endobronchial ultrasound (EBUS) needles, pulmonary biopsy devices, airway stents, single-use bronchoscopes, and others.

By indication, the market is segmented into COPD, lung cancer, tracheal & bronchial stenosis, foreign body extraction, and others.

The end-user segment is split into pulmonology clinics, hospitals, and ambulatory surgical centers.

Pulmonology Devices Market : Report Scope

Global Pulmonology Devices Market: Regional Analysis

North America is projected to be the major revenue contributor in the global pulmonology devices market. Factors that are contributing to the growth of the market in this region include high demand for advanced respiratory devices, well-established healthcare infrastructure, and a large network of old & new vendors in the United States and Canada. Europe is also expected to contribute significant revenue in the global pulmonology devices market. In the last few years, the market in Europe is experiencing healthy growth. Also, the demand for pulmonology devices amid COVID 19 pandemic has been observed to increase significantly. Asia Pacific is expected to register rapid growth over the forecast period. The large prevalence of respiratory diseases, presence of key players, and growing demand for advanced pulmonology devices are estimated to drive the growth of the market.

Global Pulmonology Devices Market: Competitive Players

Some of the prominent players operating in the global pulmonology devices market include:

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

The Global Pulmonology Devices Market is segmented as follows:

By product type 

• endobronchial ultrasound (EBUS) needles
• pulmonary biopsy devices 
• airway stents 
• single-use bronchoscopes 
• and others 

By Indication 

• COPD 
• lung cancer 
• tracheal & bronchial stenosis 
• foreign body extraction 
• and others 

By End-user 

• pulmonology clinics
• hospitals 
• ambulatory surgical centers 

Global Pulmonology Devices Market: Regional Segment Analysis

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.