Lung Assessment Device Market size is anticipated to reach USD 22 billion by the end of 2035, growing at a CAGR of 7% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of lung assessment device was over USD 12 billion. The market has been driven by factors such as the increasing prevalence of respiratory diseases, a growing aging population susceptible to such conditions, technological advancements in device design and connectivity, and a greater focus on early disease detection and management. The trend towards personalized and home-based healthcare has also contributed to the demand for portable and user-friendly lung assessment devices.
The lung assessment device market refers to the industry involved in the development, manufacturing, and distribution of medical devices designed to assess various aspects of lung health and function. These devices play a crucial role in diagnosing and monitoring respiratory conditions such as asthma, chronic obstructive pulmonary disease (COPD), lung infections, and more. They are commonly used by healthcare professionals in hospitals, clinics, and home care settings.
Growth Drivers
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~7% |
|
Base Year Market Size (2022) |
~ USD 12 Billion |
|
Forecast Year Market Size (2035) |
~ USD 22 Billion |
|
Regional Scope |
|
Type (Spirometers, Nebulizers)
The nebulizers segment is estimated to gain the largest market share of 60% in the year 2035. Technological advancements in nebulizer design and functionality are driving the demand for these devices. The development of portable and compact nebulizers allows patients to receive treatments conveniently at home or on-the-go. Smart nebulizers equipped with connectivity features enable real-time monitoring and data sharing between patients and healthcare providers. The industry of smart inhalers and nebulizers is projected to grow by 26% by the year 2025.
End User (Hospitals, Home Care, Diagnostic Laboratories)
The hospitals segment is expected to garner a significant share in the year 2035. Hospitals play a vital role in critical care and disease management for patients with severe respiratory conditions. Lung assessment devices are instrumental in monitoring patients in intensive care units (ICUs) and guiding interventions for optimal ventilation and oxygenation. Timely and accurate assessment is crucial for improving patient outcomes. A study found that proper lung assessment and management in critically ill patients significantly impact mortality rates and overall patient care.
Our in-depth analysis of the global market includes the following segments:
|
Type |
|
|
End User |
|
APAC Market Forecast
The lung assessment device market in the Asia Pacific region is projected to hold the largest market share of 38% by the end of 2035. The Asia Pacific region is a dynamic hub of healthcare innovation, witnessing remarkable growth in the market. As the region experiences demographic shifts, technological advancements, and evolving healthcare systems, the demand for accurate lung assessment tools is surging. The escalating burden of respiratory diseases across the Asia Pacific region is a significant driver for the market. Rapid urbanization, pollution, and changing lifestyles contribute to the rising prevalence of conditions such as asthma and chronic obstructive pulmonary disease (COPD), necessitating advanced lung assessment devices.
North American Market Statistics
The lung assessment device market in the North America region is projected to hold the second largest share during the forecast period. The high prevalence of respiratory disorders in North America serves as a significant driver for the market. Conditions such as asthma, chronic obstructive pulmonary disease (COPD), and respiratory infections are common in the region. The demand for accurate lung assessment devices for diagnosis, monitoring, and treatment is consequently robust. The American Lung Association reports that over 35 million Americans are living with asthma, and COPD affects around 16 million people in the United States.
Author Credits: Radhika Gupta, Shivam Bhutani
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?