Pulmonology Lasers Market size was valued at USD 5.45 billion in 2023 and is expected to exceed USD 22.97 billion by 2036, registering over 11.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of pulmonology lasers is evaluated at USD 5.96 billion. The growth of the market can be attributed primarily to the increasing prevalence of lung cancer, as laser therapy is widely being used for providing curative effect for this cancer at early stages. According to the World Cancer Research Fund, lung cancer is the most common cancer in men and the third most commonly occurring cancer in women. In 2018, there were about 2 million new cases of this cancer. Along with this, pulmonary lasers act as both palliative and curative therapy for relieving the obstructions in the airway caused due to various complications like neoplasms, tumors and lesions. This in turn is also expected to drive market growth significantly in the forthcoming years. Furthermore, rising R&D activities in the healthcare sector to develop sophisticated technologies for complications associated with airway tract is projected to offer lucrative opportunities to the pulmonology lasers market in the near future.
Growth Drivers
Challenges
|
2023 |
|
|
Forecast Year |
2024–2036 |
|
CAGR |
11.7% |
|
Base Year Market Size (2023) |
USD 5.45 billion |
|
Forecast Year Market Size (2036) |
USD 22.97 billion |
|
Regional Scope |
|
The market is segmented by end user into hospitals, specialty care centers, and academic and research institutions, out of which, the hospitals segment is anticipated to hold the largest share in the global pulmonology lasers market. This can be accounted to the availability of pulmonology lasers and other advanced equipment in a hospital facility. Apart from this, high preference of patients to get treatment of complex health conditions by trained medical professionals is also predicted to boost the growth of the market segment in the future. Additionally, on the basis of laser type, the Nd-YAG laser segment is assessed to grab the largest share during the forecast period owing to the ability of these lasers to emit light at mid-wavelengths with pulse durations in the millisecond range, and to penetrate deeper into the tissues.
Our in-depth analysis of the global market includes the following segments:
|
By Laser Type |
|
|
By Indication |
|
|
By End User |
|
Regionally, the global pulmonology lasers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in North America industry is anticipated to account for largest revenue share by 2036, ascribed to growing occurrence of lung cancer, and increasing investments in R&D to improve the management and treatment of this cancer in the region. As per the American Cancer Society, it is calculated that in 2022, about 236,740 new cases of lung cancer will emerge in the United States, with 117,910 of them occurring in men and 118,830 in women. In addition, strong footprint of market players is also expected to drive the market growth in the region in the coming years. Moreover, the pulmonology lasers market in Europe is also assessed to grab a notable share during the forecast period ascribing to the rising health spending, and surging demand for advanced treatment along with early detection of lung cancer.
Author Credits: Radhika Pawar
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?