Pulmonology Devices Market Growth Analysis With Investment Opportunities For 2024-2033

The Business Research Company's Pulmonology Devices Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 30, 2024 /EINPresswire.com/ -- The pulmonary devices market is experiencing significant growth, with an anticipated increase from $1.23 billion in 2023 to $1.36 billion in 2024, reflecting a compound annual growth rate (CAGR) of 10.6%. This expansion is driven by several factors including the rising incidence of chronic respiratory diseases, a growing shift toward preventive healthcare, increased adoption of pulmonology devices, and the surge in endoscopic ultrasound procedures. The market is expected to continue its robust growth trajectory, reaching $2.05 billion by 2028, at a CAGR of 10.8%.

Respiratory Disease Prevalence Drives Pulmonology Devices Market Growth
The rise in the prevalence of respiratory diseases is a major factor propelling the growth of the pulmonology devices market. Respiratory diseases impact the airways, lungs, and respiratory muscles, with increasing cases attributed to air pollution, smoking, and occupational hazards. Pulmonology devices are crucial for managing respiratory conditions by providing accurate diagnostics, continuous monitoring, and effective treatment. Notable tools include spirometers, inhalers, pulse oximeters, and ventilators, which collectively enhance patient outcomes and quality of life. For example, the Scottish Public Health Observatory reported a rise in COPD rates as the effects of COVID-19 diminished, highlighting the ongoing need for advanced pulmonology devices.

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Key Players and Market Trends
Major companies driving innovation in the pulmonology devices market include Medtronic, Koninklijke Philips N.V., and ResMed, among others. These companies are developing advanced technologies such as bilevel positive airway pressure (BiPAP) devices to improve patient comfort and treatment efficacy. For instance, ResMed's launch of the AirCurve 11 bilevel sleep apnea devices in February 2024 exemplifies the industry's focus on enhancing patient experience with advanced BiPAP technology.
In a strategic move, Sandoz, a subsidiary of Novartis, acquired Coalesce Product Development Limited in March 2022. This acquisition aims to bolster Sandoz's respiratory portfolio, further advancing patient access to high-quality therapies.

Market Segmentation
• Product Type: Endobronchial Ultrasound (EBUS) Needles, Pulmonary Biopsy Devices, Airway Stents, Single-Use Bronchoscopes, Other Product Types
• Indication: Chronic Obstructive Pulmonary Disease (COPD), Lung Cancer, Tracheal And Bronchial Stenosis, Foreign Body Extraction, Other Indications
• End-User: Pulmonology Clinics, Hospitals, Ambulatory Surgical Centers

Geographical Insights: North America Leading the Market
North America was the largest region in the pulmonology devices market in 2023 and is expected to maintain its leading position due to advanced healthcare infrastructure and high adoption rates of pulmonology devices. The detailed report provides comprehensive insights into regional dynamics, market trends, and growth opportunities.

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Pulmonology Devices Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Pulmonology Devices Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on pulmonology devices market size, pulmonology devices market drivers and trends, pulmonology devices market major players, pulmonology devices competitors' revenues, pulmonology devices market positioning, and pulmonology devices market growth across geographies. The pulmonology devices market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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