Pulmonology Lasers Market Size

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.