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Pulmonology Devices Market Expected to Witness Massive Growth with a Tremendous CAGR of 10.50%, asserts DelveInsight

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Pulmonology Devices Market Expected to Witness Massive Growth with a Tremendous CAGR of 10.50%, asserts DelveInsight

October 15
00:07 2022
Pulmonology Devices Market Expected to Witness Massive Growth with a Tremendous CAGR of 10.50%, asserts DelveInsight
Pulmonology Devices Market
Global Pulmonology Devices Market will grow at a CAGR of 10.50% during the forecast period from 2021 to 2026.

Global Pulmonology Devices Market will grow at a CAGR of 10.50% during the forecast period from 2021 to 2026. 

The Pulmonology Devices Market is witnessing positive growth owing to the rising incidence of respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), bronchitis, lung cancer, the outbreak of COVID-19 pandemic, growing adoption of minimally invasive procedures, rapid technical innovation in product development, thereby contributing to the growth of the Pulmonology Devices market during the forecast period from 2021-2026.

Some of the key market players operating in the Pulmonology Devices market include PENTAX Medical (Hoya Corporation), Boston Scientific Corporation, Medtronic, Ambu A/S, CONMED Corporation, Koninklijke Philips N.V., Cook, Medi-Globe GmbH, Getinge AB, ResMed, KARL STORZ SE & Co. KG, Verathon Inc, Olympus Corporation, Richard Wolf GmbH, FUJIFILM Corporation, Drägerwerk AG & Co. KGaA, Smiths Group PLC, SCHILLER AG, General Electric Company, ACE Medical Devices Pvt. Ltd. among others.

DelveInsight’s “Pulmonology Devices Market Insight & Forecast” report will offer an in-depth understanding of the Pulmonology Devices market, further benefiting the competitors or stakeholders operating in the Pulmonology Devices arena.

Pulmonology Devices Overview

Pulmonology Devices are devices used for diagnosing and treating diseases of the lungs and other parts of the respiratory system.

Interested to know more about the functioning of Pulmonology  Devices – Visit @ Pulmonology Devices Operations & Working.

Pulmonology Devices Market Insights

North America is expected to dominate the overall Pulmonology Devices market during the forecast period. This domination is due to the increase in the patient population suffering from various chronic respiratory disorders such as asthma, Chronic Obstructive Pulmonary Disorder, and others in the region.

For instance, as per the Centers for Disease Control and Prevention 2021 data, the age-adjusted prevalence of COPD among adults in the US during 2019 varied considerably by state, from <4.5% in California, Colorado, Hawaii, Massachusetts, Minnesota, and Utah to >9% in Alabama, Arkansas, Kentucky, and West Virginia.

Moreover, burgeoning cases of Covid-19 in the country is also expected to surge the demand for Pulmonology Devices in the upcoming years. For instance, as per the WHO latest report, 14 February 2022, there have been 143,190,545 confirmed cases of COVID-19 in the country.

Further, the US represents the largest market worldwide supported by developed healthcare infrastructure and rising adoption of advanced non-invasive patient monitoring technologies. In addition presence of key market players such as Boston Scientific Corporation, Medtronic, Pentax Medical, among others is also expected to boost the market.

Also, advanced product launches and commercialization agreements among the key companies are further expected to fuel the market. For instance, recently in March 2021, Nonin Medical, Inc. launched two new disposable products – a single-use wristband and a sensor for use with Nonin’s WristOx2 3150, wrist-worn pulse oximeter (SpO2). Moreover, in May 2021, California-based CorVent Medical announced that it received CE mark approval for its Respond-19 ventilator and is preparing to launch it in Europe. The system received FDA emergency use authorization (EUA) for primary critical care use in December 2020 and is expected to propel the market growth of Pulmonology Devices.

Therefore, the interplay of various factors such as the presence of a large patient population, encouraging reimbursement policies as well as new product launches in the region is expected to boost the North America Pulmonology Devices market during the forecast period.

To read more about why North America is leading the market growth in the Pulmonology Devices market, get a snapshot of the Pulmonology Devices market report.

Pulmonology Devices Market Dynamics

Pulmonology Devices Market has significantly risen owing to the outbreak of the COVID-19 pandemic. The demand for Pulmonology Devices is increasing at present, as these devices have been extensively used by the population for the deadly disease.

The continuous rise in COVID-19 cases across the globe is expected to increase the demand for Pulmonology Devices to manifolds. For instance, as per the World Health Organization (WHO), as of 14 February 2022, there have been 410,565,868 confirmed cases of COVID-19.

In addition, the above data also mentioned that the US, India, Brazil, the UK, and France are the five countries that were severely affected by Covid-19.

Furthermore, the emergence of new strains such as the Omicron variant first reported to WHO from South Africa on 24 November 2021 could also increase the adoption of the Pulmonology Devices among various countries for early screening at home.

Moreover, increasing awareness among the population regarding applications of Pulmonology Devices in COVID-19 management is also likely to fuel the Global Pulmonology Devices market.

With proper systems, disease management becomes better. Therefore, the increasing cases of COVID-19 are projected to result in the growing demand for Pulmonology Devices, thereby contributing to the growth of the Pulmonology Devices market during the forecast period from 2021-2026.

Another factor responsible for the growth of the Pulmonology devices market is the growing burden of respiratory diseases across the globe. Respiratory diseases are among the leading causes of death in the world. Chronic obstructive pulmonary disease (COPD) is the third-most-leading cause of death, causing 3.23 million deaths worldwide in 2019, as per World Health Organization (WHO). As per the same statistics, environmental exposure to tobacco smoke, indoor air pollution, and occupational dust, fumes, and chemicals are important risk factors for COPD. Thus, the burgeoning cases of COPD will contribute to the Global Pulmonology Devices Market growth.

Further, many companies have scaled up their manufacturing capacity to meet the rising demand. For instance, in March 2020, Zoll Medical Corporation executed a plan to increase manufacturing capacity to 10,000 Ventilators per month. This production volume expansion helped in the treatment of patients suffering from COVID-19 and ultimately led to market expansion. It is further expected that there will be a surge in the number of patients requiring ventilation support, and there may be an increase in the demand for Pulmonology Devices, which might fasten the pace of the Pulmonology Devices market growth.

Certain factors such as the problems associated with the use of invasive equipment, and the high cost of endosurgical procedures pose a minor hurdle for the growth of the pulmonology devices market.

Recent Breakthroughs in Pulmonology Devices Market:

  • On September 25, 2021, Emerson announced a partnership with BioBusiness, an Egyptian medical equipment manufacturer, to design and produce a variety of Ventilators that will use Emerson’s ASCO™ valves and AVENTICS™ regulators to offer accurate pressure and gas flow control.
  • On January 21, 2021, artificial intelligence-powered Fingertip Pulse Oximeter (SpO2) by TytoCare Ltd was launched which enables remote monitoring at the time of the COVID crisis.
  • On August 28, 2021, Ventilator maker Max Ventilator entered into a technology collaboration agreement with US-based respiratory technology player Amptron Medical to match global standards.

Key Players Proactively Working In the Pulmonology Devices Market

Key Pulmonology Devices companies involved in manufacturing and production are making a significant growth to the advancement of these devices. To boost their market position, they also engage in mergers and acquisitions. Some of the key Pulmonology Devices companies operating actively in the Pulmonology Devices market include PENTAX Medical (Hoya Corporation), Boston Scientific Corporation (NYSE:BSX), Medtronic (NYSE:MDT), Ambu A/S, CONMED Corporation (CNMD), Koninklijke Philips N.V. (PHG), Cook, Medi-Globe GmbH, Getinge AB (GNGBY), ResMed (NYSE:RMD), KARL STORZ SE & Co. KG, Verathon Inc, Olympus Corporation, Richard Wolf GmbH, FUJIFILM Corporation, Drägerwerk AG & Co. KGaA (DWRKF), Smiths Group PLC (SMGZY), SCHILLER AG (SHLRF), General Electric Company (GE), ACE Medical Devices Pvt. Ltd. among others.

Scope of the Pulmonology Devices Market Report:

  • Geography Covered: Global
  • Study Period: 2021-2026
  • Key Pulmonology Devices Companies: PENTAX Medical (Hoya Corporation), Boston Scientific Corporation, Medtronic, Ambu A/S, CONMED Corporation, Koninklijke Philips N.V., Cook, Medi-Globe GmbH, Getinge AB, ResMed, KARL STORZ SE & Co. KG, Verathon Inc, Olympus Corporation, Richard Wolf GmbH, FUJIFILM Corporation, Drägerwerk AG & Co. KGaA, Smiths Group PLC, SCHILLER AG, General Electric Company, ACE Medical Devices Pvt. Ltd., and others.
  • Market Segmentation By Product- Pulmonary Biopsy Devices [Single-use Forceps, Cytology Brushes, Microbiology Brushes], Endobronchial Ultrasound (EBUS) Needles [Endobronchial Ultrasound Fine Biopsy Needles, Endobronchial Ultrasound Transbronchial Aspiration Needles], Ventilators [Intensive Care Ventilators, Portable/Transportable Ventilators], Bronchoscopes [Video, Fiber], Airway Stents Systems, Oxygen Concentrators, Nebulizers, Spirometers, Airway Extraction Baskets, Pulse Oximeters, Pulmonary Balloon Catheters, Others
  • Market Segmentation by End-User- Hospitals and Clinics, Ambulatory Surgical Centers, Others
  • Market Segmentation by Geography: North America, Europe, Asia-Pacific, Rest of the World (Middle East, Africa, and South America)
  • Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

Table of Contents 

1

Report Introduction

2

Executive Summary

3

Regulatory and Patent Analysis

4

Key Factors Analysis

5

Pulmonology Devices Porter’s Five Forces Analysis

6

COVID-19 Impact Analysis on Pulmonology Devices Market

7

Pulmonology Devices Market Layout

8

Pulmonology Devices Global Company Share Analysis – Key 3-5 Companies

9

Pulmonology Devices Companies and Product Profiles

10

Project Approach

11

KOL Views

12

DelveInsight Capabilities

13

Disclaimer

 

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