Pulmonology Devices Market Overview and Analysis by Product: Lung Biopsy Devices, Endobronchial Ultrasound Needles (EBUS), and Airway Stents – Forecast to 2022-2030

Respiratory disorders such as asthma, chronic obstructive pulmonary disease (COPD) and lung cancer are on the rise worldwide. Smoking and an unhealthy living environment are often identified as common causes fueling the incidence of respiratory disorders. According to Future Market Insights (IMF), due to the rising incidence of respiratory diseases, the demand for pulmonology devices will increase. The market is therefore expected to surpass US$1.08 billion by 2021

Government initiatives supported by public and private organizations to raise awareness have led people to focus on early diagnosis of medical conditions to avoid delays in treatment. Additionally, a number of players are developing new products to expand their product portfolio as well as maintain their market position.

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For example, Olympus introduced some unique pulmonology devices such as the flexible bronchoscope which helped the company maintain its position in the market. A large number of national players are slowly emerging in Asia-Pacific. Rising healthcare spending in developing countries and improving reimbursement policies are causing market players to shift their focus from developed to developing countries.

Additionally, the availability of pulmonology devices for healthcare professionals has been impacted by the COVID-19 supply chain crisis. However, measures are being taken to manage this situation. Governments have relaxed controls to facilitate supply. Export controls have been eased by several manufacturing countries.

The major manufacturers in the pulmonology device market are preparing and focusing on the local production of pulmonology devices. According to the report, increasing cases of COPD and lung cancer will continue to fuel the demand in the market.

Key Takeaways from Marker Study Pulmonology Devices

  • Demand for pulmonology devices is expected to increase, allowing the market to grow at a CAGR of 10.8% between 2020 and 2030
  • Supported by rising healthcare spending, the United States is expected to account for nearly 90% of North American sales
  • Favorable reimbursement policies will see the UK post 13% year-on-year growth in 2021
  • Germany and France will showcase increasing investment in healthcare infrastructure expansion, in turn fueling demand for pulmonology devices
  • In East Asia, Japan and South Korea will be very attractive markets for sales

“Some of the emerging regions such as South Asia have adopted minimally invasive surgeries to accelerate the rate of diagnosis and treatment of lung cancer. ‘advanced devices will remain the main drivers of the market.’ says IMF analyst

Who wins?

Key players in the Pulmonology Devices market are strengthening their market position through acquisition, partnerships and expansion. For example,

  • In February 2019, Conmed Corporation acquired privately held Buffalo Filter LLC, a leader in surgical smoke evacuation technologies. The company’s comprehensive product portfolio includes smoke evacuator pencils, smoke evacuators and laparoscopic solutions.
  • In November 2019, Cook Medical opened a new facility in India. This office allows the company to expand its activities in emerging markets.
  • In January 2019, Verathon, Inc launched GlideScope® BFlexa flexible, single-use bronchoscope that provides optimal visibility and maneuverability for routine airway and bronchoscopy procedures.

Major market players covered by FMI include Boston Scientific Corporation, CONMED Corporation, Olympus Corporation, Cook Medical Incorporated, Medi-Globe GmbH, Ambu A/S, Verathon, Inc, consolidating their positions through mergers, acquisitions and new product launches.

Valuable Insights into Pulmonology Devices Market

Future Market Insights brings the comprehensive research report on projected revenue growth at global, regional and country level and provides analysis of latest industry trends in each of the sub-segments from 2015 to 2030. Pneumology is segmented in detail to cover all aspects of the market and present the reader with a comprehensive approach to market intelligence. The study provides compelling insights into the Pulmonology Devices Market on the basis of the product in detail covering all aspects of the market such as (Lung Biopsy Devices, Endobronchial Ultrasound Needles (EBUS), Airway Stents, Breathing Baskets airway extraction, single-use bronchoscopes), indication (lung cancer, COPD, foreign body extraction, tracheal and bronchial stenosis and others) and end user (hospitals, pulmonology clinics, ambulatory surgery centers) in seven large regions.

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About Future Market Insights Healthcare Division

Future Market Insights helps businesses, governments, investors, and related audiences in the healthcare sector identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technological evolution, and other issues crucial to achieving lasting success. Our unique approach to gathering market intelligence enables you to design innovation-driven trajectories for your business. Learn more about our industry coverage here

About Future Market Insights (IMF)
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