The global pulmonology devices market is estimated at USD 1.4 billion in 2023. The market is projected to reach USD 3.8 billion by 2033, exhibiting a CAGR of 10.3% from 2023 to 2033.
North America is the leading revenue contributor in the global pulmonology devices market. This is due to the continuous development of innovative products by leading and emerging vendors in developed countries such as the United States and Canada. Bronchoscopes and minimally invasive surgeries have major advantages in terms of efficiency and ability to accelerate the time taken for diagnosis and treatment of lung cancer at the same time.
Key players are striving hard to develop and achieve regulatory approvals for new procedures and interventions. Companies such as CONMED Corporation, Olympus, and Cook Medical Incorporated are launching new products in the pulmonology devices market. The number of surgeries performed in hospitals is expected to increase due to the rise in the number of technologically advanced hospitals. Additionally, an increase in government support for improving the healthcare sector, especially in Asia Pacific, Latin America, Africa, and the Middle East is estimated to boost the market.
In its new study, FMI offers insights into key factors driving demand for pulmonology devices. The study points toward single-use bronchoscopes being the most sought-after due to the Increasing adaption of single-use bronchoscopes in lung cancer. COPD by indication holds more than thirty percent market share, globally. The report also tracks global sales of pulmonology devices in 20+ high-growth markets, along with analyzing the impact COVID-19 has on the medical device industry in general, and pulmonology devices in particular.
| Attributes | Details |
|---|---|
| Pulmonology Devices Market Value (2022) | USD 1.3 billion |
| Pulmonology Devices Market Value (2023) | USD 1.4 billion |
| Pulmonology Devices Market Expected Value (2033) | USD 3.8 billion |
| Pulmonology Devices Market Projected CAGR (2023 to 2033) | 10.3% |
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The number of Bronchoscopy procedures conducted demonstrated a declining trend between 1990 and 2005. This trend reversed and there was a sharp rise in the number of procedures conducted each year from 2005 onwards. Favourable reimbursement implemented for outpatient procedures is another trend, which is expected to increase in the future. The pulmonology devices market is anticipated to benefit from the rising incidence of numerous pulmonary disorders such as acute bronchitis, COPD, lung cancer, asthma and other related respiratory disorders.
The market is expected to witness an increase in the adoption of pulmonology devices with advanced technology and safety features. The rise in public awareness regarding the risks of lung cancer and the benefits of early treatment has increased the adoption rates substantially.
The increasing adoption of diagnostic and therapeutic pulmonology devices is likely to continue owing to the increase in the population of aged people in the world. This will create opportunities for the expansion of the pulmonology devices market size over the forecast period, which is projected to expand at a CAGR close to 10.3% through 2033.
According to the World Health Organization (WHO), the number of cases rose to 113,820,168 and the number of deaths is estimated around 2,527,891 as of 01 March 2021. The increasing respiratory disease complications due to COVID-19 are expected to create lucrative growth opportunities in the pulmonology devices market over the forecast period.
Patients with asthma and COPD are more susceptible to COVID-19 infection, which is anticipated to create growth opportunities for the pulmonology devices market. Government and non-government institutions are increasingly focusing on the rate of morbidity and mortality due to COVID-19 by improving patient care. This also is expected to create lucrative growth opportunities for growth.
Unacceptable Sterilization Methods to Stifle Market Growth
Some worries are connected with the use of reusable/reprocessed endoscopes and supportive instruments. Key factors considered while the option for reusable endoscopes and accessories cost savings and reduction of medical waste as they cost less which makes the treatment affordable.
For example, in developing countries such as India, each new aspiration needle can cost up to USD 200. Unacceptable sterilization techniques can lead to severe complications and infections such as transferable infections and blood loss. This is likely to hamper the growth of the pulmonary devices market.
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Emergence of respiratory illnesses to drive market growth
The rise in the prevalence of respiratory disorders such as lung cancers, asthma, chronic obstructive pulmonary disorders (COPD) and cystic fibrosis each year will boost the market growth. According to World Cancer Research Fund, lung cancer is one of the most common causes of death in 2018 and there were 2 million new cases of lung cancer reported in the year.
According to the Centers for Disease Control and Prevention (CDC), COPD was the third primary cause of death among US women Over 50% of the adult population with pulmonary disorders and tumours were not aware of the condition. Some of the primary causes of pulmonary disorders comprise exposure to changes in temperature, allergens, smoking, respiratory infection, and environmental pollution. For example:
In the United Kingdom, lung cancer is the third most common cause of cancer, accounting for 13% of new cases of cancer. According to Europe COPD coalition 2016 findings, nearly 5% to 12% of adults in Europe may be suffering from severe COPD.
The growing prevalence of the pulmonary disease has increased the demand for novel techniques for accurate diagnosis and treatment. Some of the common factors considered responsible for respiratory conditions are smoking, air pollution, and industrial & chemical pollutants, which decrease the quality of air and increase the geriatric population.
These factors are often considered responsible for the increase in the morbidity and mortality due to pulmonary diseases in developing countries. This will in turn fuel the demand for pulmonary devices.
High expense of the gadgets to impede market growth
Some of the pulmonary device such as endobronchial devices are expensive and categorized as “capital items” by healthcare institutions and organizations. Manufacturers of endoscopic devices include novel techniques and various budget allocation considerations before making the buying decision.
This cost also varies depending on a country’s regulatory policy and availability of products. The cost of some of the consumables and accessories may be relatively low. Additionally, expenditure incurred on equipment maintenance service is another factor that adds to the financial burden of end users. In emerging countries such as India and China, a small share of the overall GDP (4% to 6%) is spent on health care. The percentage share is even lower in countries such as Indonesia and Malaysia. These factors are likely to restrain the pulmonology devices market.
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Cutting Edge Technologies to Spur The Growth of The Nation
Technological innovations in pulmonology imaging devices have widened the scope of application for medical devices thus expanding the customer base. Technological advancements play a very important role in boosting minimally invasive surgery product sales.
The United States-based manufacturers are striving to introduce technologically advanced products to overcome challenges such as charring of tissues caused due to overheating of electrodes to enhance their device performance.
The launch of narrow-band imaging endoscopes, confocal micro endoscopes, and high-definition cameras for endoscopes have increased the demand for these devices.
The advent of robot-assisted endoscopic procedures has resulted in the transformation of the pulmonology devices sector. Intuitive Surgical is a pioneer of this technology. Several United States-based companies are looking for entering this field. The minimally invasive, diagnostic and surgical procedures performed by using robotic technology are adding value to the market. All the above-mentioned technological innovations have given confidence to end-users of endoscopic devices. This factor, in turn, would be driving the market in the next few years. The United States market held a market share of 28.6% in 2022.
United Kingdom to take over the European Industry
The rising prevalence of pulmonary disorders is expected to drive the pulmonology devices market in the United Kingdom According to the Eurostat database in 2015, the share of deaths due to respiratory diseases was highest in the United Kingdom. Europe was the second-leading revenue generator in 2016, owing to significant revenue contributions from Germany and the United Kingdom
A rise in the number of hospitalization among the geriatric population with respiratory problems was recorded in Western European countries. Global vendors are collaborating with leading universities, such as the National Institutes of Health, to gain significant clinical evidence for their products. The market in the United Kingdom is expected to grow at a CAGR of 8.7% over the upcoming decades.
Cost-effectiveness of Equipment to Propel the Japanese Industry
Manufacturers in Japan offer affordable endoscopy devices for pulmonary disorders. For instance, companies such as Olympus Corporation and Boston Scientific are focusing on the manufacturing of wireless endoscopy systems and biopsy devices. Also, domestic firms are focused on the development of low-cost products.
Vendors are also inclined toward strengthening their manufacturing units and distribution channels in Japan, which is projected to increase their market presence and drive pulmonology device sales shortly. The presence of a large geriatric population in Japan with a well-established healthcare market is estimated to propel the demand for endobronchial ultrasound surgeries, as elderly people are at higher risk for conventional surgeries. The Japanese market held a market share of 7.2% in 2022.
Breakthroughs in Product Developments to Boost the Market in Brazil
Brazil is a relatively untapped market as compared to developed countries, which presents significant opportunities for growth of the pulmonary devices market. The prevalence of lung cancer, COPD, asthma, and other non-pulmonary diseases in the country is anticipated to increase in the next few years
Demand for improved and advanced screening tests in Brazil is rising gradually, with an increase in government support, awareness programs, and improvement in the economic conditions of people in the country. Economic growth and healthcare reforms have led to increased government funding for research in the healthcare sector.
Population growth, the presence of high unmet medical needs, and a rise in healthcare-related customer expectations led by improvement in their economic condition have increased the demand for healthcare services in Brazil. The rise in per capita and disposable income has enabled people to avail of expensive medical treatment in Brazil and Mexico.
Lifestyle changes are expected to boost the Latin American market during the forecast period. A focus on the Brazilian market is likely to enable developers and providers of these (endoscopy) products to witness high growth in revenues and gain market share in the next few years.
High Incidence of Obstructive Pulmonary Disorder (COPD) to Raise the Market in Developing Nations
Improvement in healthcare policies in various countries such as Germany, the United Kingdom, and Japan has resulted in increasing adaption of various treatment diagnostics and services, which in turn has increased the life expectancy of the people.
The rising diagnostic rate of respiratory disease is expected to fuel the growth of the pulmonology devices market. A high prevalence of chronic obstructive pulmonary disorder (COPD) among the older population has been noted. Population aged 45 years or above are at higher risk of respiratory diseases.
According to the Global Initiative for Chronic Obstructive Lung Disease, in 2019, 65 million people suffer from chronic obstructive pulmonary disease (COPD) and 3 million die from it each year, making it the third leading cause of death. COPD is not curable but can be managed by proper medication. These programs encourage people to adopt early diagnosis and medication, which is expected to result in increased revenue for the global pulmonology devices market over the forecast period.
Single-Use Bronchoscopes to become Highest Used Equipment over the Forecast Period
Bronchoscopy procedures are routinely used in clinical seating, with approximately USD 5 million being undertaken per year in the United States alone. These procedures are generally regarded as safe and are established procedures. Diseases such as cancer, and chronic obstructive pulmonary disorders owing to a rise in risk factors such as smoking, and pollution is driving a large market.
The rising prevalence of pulmonary fibrosis, idiopathic pulmonary fibrosis, occupational sarcoidosis, interstitial pneumonitis, and pulmonary hemorrhage are other factors driving the market. Advancements in technology have led to the development of Bronchoscopes, with an expansion of potential applications. Growing miniaturization has resulted in the growing adoption of advanced thin bronchoscopes with minimally invasive features
Hospitals Segment to Capture Lion’s Share
Hospitals are expected to remain leading end users as they continue to receive significantly higher patient footfall than other categories. Better access to healthcare professionals and advanced procedures within hospitals is contributing to their growth. The consistently rising demand for the latest medical procedures besides improved patient care will boost sales of pulmonary devices in hospitals.
Some of the leading players operating in the market are Boston Scientific Corporation, CONMED Corporation, Olympus Corporation, Cook Medical Incorporated, and Ambu A/S Major Manufacturers. These companies are focusing on the development of a wide range of advanced products. Key players in the pulmonology devices market are focusing on enhancing their global and regional presence through acquisitions and collaboration strategies.
leading companies operating in the market are:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and the Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Argentina, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Australia, New Zealand, South Africa, GCC Countries |
| Key Segments Covered | Product, Indication, End User, and Region |
| Key Companies Profiled | 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 |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The primary consumer for Pulmonology Devices is the healthcare industry.
North America is poised to stay attractive, projecting a USD 1.2 billion by 2033.
The market is estimated to secure a valuation of USD 1.4 billion in 2023.
The market is estimated to reach USD 3.8 billion by 2033.
The healthcare sector holds high revenue potential.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Pulmonary Biopsy Devices 5.1.1. Single-Use Biopsy Forceps 5.1.2. Cytology Brushes 5.1.3. Microbiology Brushes 5.2. Endobronchial Ultrasound (EBUS) Needles 5.2.1. Endobronchial Ultrasound Fine Biopsy Needles 5.2.2. Endobronchial Ultrasound Transbronchial Aspiration Needles 5.3. Airway Stents 5.3.1. Silicon Stents 5.3.2. Nitinol Stents 5.3.3. Stainless Steel Stents 5.4. Airway Extraction Baskets 5.5. Single-Use Bronchoscopes 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Indication 6.1. Lung Cancer 6.2. COPD 6.3. Foreign Body Extraction 6.4. Tracheal and Bronchial Stenosis 6.5. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. Hospitals 7.2. Pulmonology Clinics 7.3. Ambulatory Surgical Centers 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Boston Scientific Corporation 16.2. CONMED Corporation 16.3. Olympus Corporation 16.4. Cook Medical Incorporated 16.5. Medi-Globe GmbH 16.6. Ambu A/S 16.7. Verathon, Inc 16.8. Value (USD Million) & Volume (Units)ed Medical Surgical Services Ltd 16.9. Hunan Vathin 16.10. Micro-Tech (Nanjing) Co., Ltd 16.11. Merit Medical Systems 17. Assumptions & Acronyms Used 18. Research Methodology
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Pulmonology Devices Market
