The increased popularity of screening and treatment pulmonology devices is predicted to continue as the world's older population increases. This is expected to bring up new potential for the pulmonology devices market to flourish throughout the forecast period. Pulmonology devices are expected to generate $1.4 billion in revenue by 2023. The market is expected to increase at a CAGR of 10.3% between 2023 and 2033, reaching US$ 3.8 billion.

According to the World Health Organization (WHO), the total number of illnesses has climbed to 113,820,168, with an estimated 2,527,891 deaths as of March 1, 2021. The rising prevalence of respiratory diseases is expected to generate considerable potential opportunities in the pulmonology devices market in the coming years.
Every year, the prevalence of respiratory ailments such as lung cancer, asthma, chronic obstructive pulmonary disorder (COPD), and cystic fibrosis rises, driving market growth. According to the World Cancer Research Fund, lung cancer was one of the top causes of death in 2018, with 2 million new cases reported.


Key takeaways:

In 2023, the global market is anticipated to be worth $1.4 billion.
Over the next few decades, the Indian market is expected to expand at a CAGR of 10.9%.
In 2022, North America accounted for more than 32% of total sales.
Over the next few decades, the UK market is predicted to increase at a CAGR of 8.7%.
In 2022, the sector lung cancer had a market share of 30.82%.
"As the prevalence of lung disease rises, there is an increased demand for cutting-edge methods of precise diagnosis and treatment. Inhaling nicotine, air pollution, and industrial and chemical pollutants are among the most common causes of respiratory disorders, lowering air quality and increasing the elderly population." According to the FMI analyst.

Competitive Landscape:

Some of the market's strongest rivals are investing in studies and research (R&D) to enable the offering of a diverse range of leather created in a number of colors and materials for a variety of uses. Companies strive to stay current with the changing environment by doing so. For example:

Noah Medical, a California-based medical robotics business, announced on Wednesday that it has secured an additional $150 million in funding for April 2023. Softbank Vision and Prosperity7 Ventures co-led the funding endeavor. The round's shareholders included Hillhouse Capital, Sequoia Capital China, and UpHonest Capital.
FUJIFILM India has announced a collaboration with the Department of Pulmonary Medicine, Thoracic Oncology Disease Management Group, Tata Memorial Centre (TMC), Mumbai, in April 2023. The cooperation plans to create an educational facility at TMC.
Leading companies operating in the market include:


Boston Scientific Corporation
CONMED Corporation
These companies include Olympus Corporation, Cook Medical Incorporated, and Medi-Globe GmbH.
Ambu A/S Verathon, Inc.
United Medical Surgical Services Limited
Hunan Vathin Micro-Tech (Nanjing) Co., Ltd.
Merit Medical Systems provides pulmonology equipment. Market by category

Product:

Pulmonary biopsy devices are 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:

End users include those with lung cancer, COPD, foreign body extraction, tracheal and bronchial stenosis, and other conditions.

Hospitals, pulmonary clinics, and ambulatory surgical centers are available in the following regions:

North America
Latin America
Europe
Asia Pacific

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