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What’s Behind the Strong Growth of the Pulmonology Devices Market Size in the Last 5 Years?
The market for pulmonology devices has expanded at a significant rate in the past years. The market size, currently standing at $1.36 billion in 2024, is projected to reach $1.5 billion in 2025, boasting a compound annual growth rate (CAGR) of 10.4%.
This past growth can be credited to the increasing occurrences of chronic respiratory diseases, a sweeping shift towards preventive healthcare, a rise in the usage of pulmonology devices, a surge in diseases necessitating endoscopic ultrasound procedures, and a boost in the elderly population.
The market for pulmonology devices is projected to experience robust growth in the upcoming years, increasing to a worth of $2.18 billion by 2029 with a compound annual growth rate (CAGR) of 9.8%. This growth during the forecasted period can be credited to the escalating number of respiratory diseases, increment in air pollution levels, the rise of home healthcare, increased awareness and early detection, and the expansion of healthcare infrastructure.
Key trends to be observed in this forecast period will be the incorporation of artificial intelligence, the expansion of telemedicine and remote monitoring, advancements in portable and wearable devices, the application of robotic technology in less invasive diagnostic procedures, and the rise in home care services.
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What Drivers Are Powering the Rise of the Pulmonology Devices Market?
The increase in respiratory disease incidence is anticipated to drive the pulmonology devices market’s expansion. These diseases relate to health issues involving the organs and tissues crucial for breathing, such as the airways, lungs, and respiratory muscles.
The rising instances of these diseases are triggered by escalating air pollution, smoking, and work-related hazards. Devices for pulmonology aid in managing respiratory diseases by facilitating exact diagnosis, around-the-clock monitoring, and effective treatment using equipment such as spirometers, inhalers, pulse oximeters, and ventilators, consequently enhancing patient outcomes and their quality of life.
The Australian Institute of Health and Welfare reported in June 2024 that about 8.5 million Australians, or 34% of the population, were projected to have chronic respiratory disorders. This estimation includes approximately 2.8 million people, or 11% of the population, who have asthma, and 638,000 people, or 2.5% of the population, living with chronic obstructive pulmonary disease (COPD).
Consequently, the increasing prevalence of respiratory diseases is stimulating the growth of the pulmonology devices market.
How Is the Pulmonology Devices Market Structured Across Key Segments?
The pulmonology devicesmarket covered in this report is segmented –
1) By Product Type: Endobronchial Ultrasound (EBUS) Needles, Pulmonary Biopsy Devices, Airway Stents, Single-Use Bronchoscopes, Other Product Types
2) By Indication: Chronic Obstructive Pulmonary Disease (COPD), Lung Cancer, Tracheal And Bronchial Stenosis, Foreign Body Extraction, Other Indications
3) By End-User: Pulmonology Clinics, Hospitals, Ambulatory Surgical Centers
Subsegments:
1) By Endobronchial Ultrasound (EBUS) Needles: Radial EBUS Needles, Linear EBUS Needles, Biopsy EBUS Needles, EBUS Needles With Safety Features, EBUS Needles For Peripheral Lung Lesions
2) By Pulmonary Biopsy Devices: Core Biopsy Needles, Fine Needle Aspiration (FNA) Biopsy Devices, Vacuum-Assisted Biopsy Devices, Transthoracic Biopsy Devices, Endoscopic Pulmonary Biopsy Devices
3) By Airway Stents: Self-Expanding Airway Stents, Balloon-Expandable Airway Stents, Silicone Airway Stents, Metal Airway Stents, Hybrid Airway Stents (Silicone + Metal)
4) By Single-Use Bronchoscopes: Single-Use Flexible Bronchoscopes, Single-Use Rigid Bronchoscopes, Single-Use Pediatric Bronchoscopes, Single-Use Disposable Video Bronchoscopes, Single-Use Bronchoscopes With Integrated Suction
5) By Other Product Types: Pulmonary Function Testing Devices, Nebulizers For Pulmonary Disease Treatment, Spirometers, Pulmonary Inhalation Devices, Non-Invasive Ventilation (NIV) Devices
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How Will Market Trends Drive Strategic Shifts in the Pulmonology Devices Sector?
Big players in the pulmonology devices industry are introducing new products incorporated with cutting-edge technologies like the bilevel positive airway pressure (BiPAP) technology. This innovation aims to augment patient comfort, escalate the efficiency of treatment, and cater to a variety of respiratory issues.
BiPAP technology comes with two distinctive pressure settings for inhaling (IPAP) and exhaling (EPAP), offering a more pleasant experience for continuous pressure users. For example, cloud-connected device provider ResMed, based in the US, unveiled its new AirCurve 11 bilevel sleep apnea devices in February 2024.
It’s a range of sophisticated BiPAP machines crafted to enhance comfort and adherence for people with sleep apnea and different respiratory disorders. The AirCurve 11 VAuto model offers greater and lesser pressure at the time of exhalation, fashioned to match the patient’s innate breathing pattern more closely.
The AirCurve 11 ASV is an adaptive servo-ventilation (ASV) device that tracks 13 points during each breath cycle 50 times a second, aimed at stabilizing the patient’s ventilation.
Where Is the Pulmonology Devices Market Experiencing the Fastest Regional Growth?
North America was the largest region in the pulmonology devices market in 2024. The regions covered in the pulmonology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Leading Players Shaping the Future of the Pulmonology Devices Industry
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
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