Pulmonary Devices Market [2021-2031] - Size and Analysis
The pulmonary devices market size was estimated to be US$ 21.6 billion in 2021 and US$ XX billion in 2023 and is expected to reach US$ 40.6 billion by 2031; it is estimated to record a CAGR of 7.6% in 2023–2031. The rising cases of respiratory disorders and strategic initiatives by companies are driving factors. Increasing preference for home care products will likely remain key to pulmonary devices market trends.
Pulmonary Devices Market Analysis
Lung diseases are among the most common medical conditions across the world. Worldwide millions suffer from various types of respiratory diseases and the most common factors responsible for the same are smoking, genetic factors, and infections. Medical conditions such as asthma and chronic obstructive pulmonary disease (COPD), chronic bronchitis, cystic fibrosis, and lung cancer are among the significant public health burdens. As per the World Health Organization (WHO), worldwide, COPD is the seventh leading cause of poor health. Therefore, manufacturers in the pulmonary devices market are ramping up their focus on adopting various strategies, such as product innovation, product launches, and approvals, to maintain a competitive environment in the market. For instance, in India, Lupin Limited launched Vilfuro-G, a fixed-dose triple combination drug for managing chronic obstructive pulmonary disease (COPD).
Pulmonary Devices Market Overview
Asia Pacific is the fastest-growing market for Pulmonary Devices. The growth is mainly urged by the higher prevalence of respiratory and heart diseases seeking inpatient care and growing research activities. China is among the most populated countries in the world, and it is a country that has a maximum number of patients living with respiratory and cardiac-associated disorders.
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Pulmonary Devices Market: Strategic Insights
Pulmonary Devices Market
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![](https://www.theinsightpartners.com/assets/images/rd_int_img/cagr.png)
CAGR (2023 - 2031)
7.6%
-
Market Size 2021
US$ 21.6 Billion
-
Market Size 2031
US$ 40.6 Billion
Market Dynamics
GROWTH DRIVERS
- Rising Cases of Respiratory Disorders
FUTURE TRENDS
- Increasing Product Development Activities
OPPORTUNITIES
- Increasing Preference for Home Care Products
Key Players
- Koninklijke Philips N.V.
- Caire Inc. (Chart Industries)
- Inogen Inc.
- Invacare Corporation
- O2 Concepts
- Nidek Medical Types, Inc.
- Drive DeVilbiss International
- GCE Group
- Besco Medical
- Inova labs Inc. (ResMed)
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type
- Therapeutic Devices
- Consumables and Accessories
- Diagnostic Devices
- Monitoring Devices
Application
- Chronic Obstructive Pulmonary Disease
End User
- Hospitals
- Homecare Settings
- Ambulatory Care Centers
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Pulmonary Devices Market: Strategic Insights
-
CAGR (2023 - 2031)7.6% -
Market Size 2021
US$ 21.6 Billion -
Market Size 2031
US$ 40.6 Billion
![](https://www.theinsightpartners.com/assets/images/rd_int_img/tip-logo.jpg)
Market Dynamics
- Rising Cases of Respiratory Disorders
- Increasing Product Development Activities
- Increasing Preference for Home Care Products
Key Players
- Koninklijke Philips N.V.
- Caire Inc. (Chart Industries)
- Inogen Inc.
- Invacare Corporation
- O2 Concepts
- Nidek Medical Types, Inc.
- Drive DeVilbiss International
- GCE Group
- Besco Medical
- Inova labs Inc. (ResMed)
Regional Overview
![](https://www.theinsightpartners.com/assets/images/rd_int_img/ig-regional.png)
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_danger.png)
- Therapeutic Devices
- Consumables and Accessories
- Diagnostic Devices
- Monitoring Devices
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_warning.png)
- Chronic Obstructive Pulmonary Disease
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_primary.png)
- Hospitals
- Homecare Settings
- Ambulatory Care Centers
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Pulmonary Devices Market Drivers and Opportunities
Rising Cases of Respiratory Disorders
The prevalence of asthma, cystic fibrosis, chronic obstructive pulmonary disease (COPD), and other respiratory diseases is increasing across the globe. For example, Asthma contributes to 1% of all deaths in most countries worldwide. In addition, one of the major causes of respiratory diseases such as COPD and asthma is the rise in air pollution.
Increasing Product Development Activities – An Opportunity
The growing number of product approvals and developments will strengthen the demand for pulmonary devices in the coming years. For instance, Medical device start-up Circadia Health received FDA approval in June 2020 for an AI-powered Circadia C100 device. This device is placed at the bedside and allows for continuous, remote, medical-grade monitoring of their breathing. Furthermore, in February 2024, Pulmonx initiates the CONVERT II study of the AeriSeal System in COPD patients.
The adoption of pulmonary devices has increased significantly across various North American, European, and Asian countries.
Pulmonary Devices Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Pulmonary Devices market analysis are type, application, and end user.
- Based on the type, the pulmonary devices market is segmented into consumables and accessories, therapeutic devices, diagnostic devices, and monitoring devices. In 2023, the therapeutic devices segment held the largest share of the market. However, the consumables and accessories segment is expected to grow at the fastest rate during the forecast period.
- Based on application, the pulmonary devices market is segmented into asthma, COPD, sleep apnea, infectious disease, and others. The COPD segment held the highest share of the pulmonary devices market in 2023. Moreover, the same segment is anticipated to witness growth at a significant rate during the forecast period.
- Based on end user, the pulmonary devices market is segmented into hospitals, home care settings and ambulatory care centers. In 2023, the hospitals segment held the largest share of the market. However, the home care settings segment is expected to grow at the fastest rate during the forecast period.
Pulmonary Devices Market Share Analysis by Geography
The geographic scope of the pulmonary devices market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
The North America pulmonary devices market is segmented into the US, Canada, and Mexico. The US held the largest share of the North American pulmonary devices market in 2023. The projected growth of the pulmonary devices market in North America is attributed to factors such as the presence of leading market players and their product developments, the growing geriatric population, and the rising prevalence of pulmonary diseases and infections. For instance, UK-based ChestPal company launched its new digital stethoscope, ChestPal Pro, for healthcare practitioners in the US. This device offers automatic detection and classification of crackles and wheezes, designed to aid clinicians in making accurate and swift diagnoses, potentially reducing emergency room visits for respiratory conditions.
Pulmonary Devices Market Report Scope
Report Attribute
Details
Market size in 2021
US$ 21.6 Billion
Market Size by 2031
US$ 40.6 Billion
Global CAGR (2023 - 2031)
7.6%
Historical Data
2021-2022
Forecast period
2023-2031
Segments Covered
By Type - Therapeutic Devices
- Consumables and Accessories
- Diagnostic Devices
- Monitoring Devices
By Application - Chronic Obstructive Pulmonary Disease
By End User - Hospitals
- Homecare Settings
- Ambulatory Care Centers
Regions and Countries Covered
North America - US
- Canada
- Mexico
Europe - UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
Asia-Pacific - China
- India
- Japan
- Australia
- Rest of Asia-Pacific
South and Central America - Brazil
- Argentina
- Rest of South and Central America
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Market leaders and key company profiles
Koninklijke Philips N.V. Caire Inc. (Chart Industries) Inogen Inc. Invacare Corporation O2 Concepts Nidek Medical Types, Inc. Drive DeVilbiss International GCE Group Besco Medical Inova labs Inc. (ResMed)
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Attribute | Details |
---|---|
Market size in 2021 | US$ 21.6 Billion |
Market Size by 2031 | US$ 40.6 Billion |
Global CAGR (2023 - 2031) | 7.6% |
Historical Data | 2021-2022 |
Forecast period | 2023-2031 |
Segments Covered |
By Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Pulmonary Devices Market News and Recent Developments
The pulmonary devices market is evaluated by gathering qualitative and quantitative data from primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for pulmonary devices:
- Vitalograph, respiratory diagnostic devices developer, launched its VitaloPFT Pulmonary Function Testing Series, which is aimed at use in secondary care. This new series provides advanced respiratory diagnostic solutions to primary and secondary care units that demand complex pulmonary function testing. (Source: Serum Institute of India (Vitalograph/Press Release, March 2023)
- Xplore Health Technologies launched a first-of-its-kind respiratory muscle training (RMT) device, Airofit Pro. The product comes in collaboration with Airofit, Denmark. It is the world’s first personal data-driven smart respiratory training system priced at Rs 34,990. The device can train inspiratory and expiratory muscles, another unique feature. (Source: Reveal Lasers, Press Release, October 2023)
Pulmonary Devices Market Report Coverage and Deliverables
The “Pulmonary Devices Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Type ; Application ; End User , and Geography
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States