Interventional Pulmonology Market Size to Surpass US$ 8 Bn by 2030
This explains why the market is estimated to register a striking CAGR of 9% during the forecast period and to reach around US$ 8 Bn by 2030.
Aerosol-generating Procedures amid Coronavirus Outbreak Compel Interventional Pulmonologists to Adopt New Practices
The coronavirus disease has increased the risk of human-to-human transmission of respiratory droplets coupled with a high level of population mobility, and has resulted in a rapid dissemination worldwide. This has increased the role of healthcare facilities and stakeholders in the global interventional pulmonology market. With a high number of active COVID-19 cases in Singapore, India, Canada, and Pakistan, interventional pulmonologists (IP) are also being exposed to the risk of infection. Hence, companies in the interventional pulmonology market are maintaining robust supply chains of devices, medications, catheters, and stents, among others, to reduce the vulnerability of healthcare systems.
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Similar to other open airway procedures or aerosol-generating procedures, bronchoscopy poses a significant risk of spreading contaminated droplets. Interventional pulmonologists are adapting to such high-risk procedures in order to ensure the safety of patients and other medical workers. Since there is a high risk of contracting the novel infection even after two doses of vaccination, interventional pulmonologists and related stakeholders in the value chain are maintaining optimum medical services to improve clinical outcomes.
Targeted Therapies, Collaboration among IP Workforce Help Improve Medical Outcomes
The interventional pulmonology market is projected to surpass US$ 8 Bn by 2031. Lung cancer diagnosis, staging, and management of the pulmonary nodule contribute to a significant portion of an IP’s work. Since lung cancer screening programs are surging in many parts of the world, it is highly possible that the workload of IPs will increase in the future. However, targeting the peripheral pulmonary nodule as well as accurate mediastinal staging is a daily challenge for the IP workforce. In order to tide over these challenges, stakeholders are mainly focusing on personalized medicine, targeted therapies, and collaboration among IP, medical oncology, and pathology to ensure patient quality of life (QOL).
Robotic Bronchoscopy Platforms Show Potential in Accurate Diagnosis of Lung Cancer
Robotic bronchoscopy is emerging as a game changer in the interventional pulmonology market. This explains why the market is estimated to register a striking CAGR of ~9% during the forecast period. Companies are expected to collaborate with researchers to innovate in novel robotic bronchoscopy platforms that allow pulmonologists to clearly see and reach lung nodules without invasive surgery.
Rapid and accurate diagnosis of lung cancer have become the need of the hour in the interventional pulmonology market. This has triggered developments in robotic bronchoscopy platforms, which consist of a hand-held controller used to direct a small, flexible endoscope into the lung using a computer-assisted navigation. In this platform, the camera allows the physician to view a magnified image of the lung, which helps to deliver rapid and accurate diagnosis of lung cancer.
Strategic Acquisitions Help Expand Respiratory Portfolio, Accelerate Medical Processes
Inorganic business strategies such as mergers & acquisitions are growing prominent in the interventional pulmonology market. Olympus Corporation – a Japan-based manufacturer of optics and reprography products has announced the acquisition of Veran Medical Technologies, Inc. – a medical equipment manufacturer in Overland, Missouri, in order to expand its respiratory portfolio. Competitor companies in the interventional pulmonology market are determined to focus and scale their therapeutic solutions division to gain an edge over other market players. North America holds lucrative opportunities to accelerate processes and provide agility in the pulmonology therapeutics division.
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Analysts’ Viewpoint
IPs are adapting to new processes amid the ongoing coronavirus outbreak by adhering to a set of recommendations on how to perform bronchoscopy or pleural procedures safely to avoid contracting the infection. Navigational platforms and proprietary devices by companies are accelerating care in the lung cancer therapeutics division. However, in many cases, cancerous nodules in the lungs can be small and found in hard-to-reach areas, thus making biopsies difficult. Hence, companies in the interventional pulmonology market should increase their R&D activities in robotic pulmonary platforms to help IPs attain a magnified view of the lungs during the procedures.
Interventional Pulmonology Market: Overview
This report analyzes the current scenario and future prospects of the global interventional pulmonology market. Interventional pulmonology uses endoscopy and other devices to diagnose and treat conditions in the lungs and chest by using minimally invasive techniques. Significant applications of interventional pulmonology devices are projected to boost the growth of the global interventional pulmonology market from 2021 to 2031.
The report includes an elaborate executive summary, which provides a snapshot of various segments of the global interventional pulmonology market. It also provides information and data analysis of the global interventional pulmonology market with regards to segments based on product type, indication, end user, and region.
The overview section of the report provides a detailed qualitative analysis of drivers, restraints, and opportunities that impact the global interventional pulmonology market
The report includes company profiles, which provide information about their business, product portfolios, and competitive landscape in the global interventional pulmonology market
The report on the global interventional pulmonology market offers market attractiveness analysis of regions and segments
The last section of the report comprises quantitative and qualitative analyses on market share/position of key players operating in the global interventional pulmonology market. It analyzes key competitive strategies adopted by major industry players, thereby presenting a thorough understanding of the competitive scenario in the global interventional pulmonology market.
Interventional Pulmonology Market: Key Segments
In terms of product type, the global interventional pulmonology market has been classified into bronchoscopes, electromagnetic navigation bronchoscopy systems, pleuroscopes, respiratory endotherapy devices, airway stents, pleural catheters, endobronchial valves, and bronchial thermoplasty systems
Based on indication, the global interventional pulmonology market has been categorized into asthma, COPD, lung cancer, tracheal & bronchial stenosis, and others
In terms of end user, the global interventional pulmonology market has been divided into hospitals, ambulatory surgical centers, diagnostic centers, specialty clinics, and others
Market size and forecast for each of these segments have been provided from 2017 to 2031. The CAGR of respective segment has also been provided from 2021 to 2031, considering 2020 as the base year.
Interventional Pulmonology Market: Regional Outlook
In terms of region, the global interventional pulmonology market has been segmented into North America (the U.S. and Canada), Europe (the U.K., Germany, Spain, Italy, France, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa). Each region considered in the market has been divided into countries/sub-regions.
The global interventional pulmonology market report provides size and forecast for each region and country/sub-region from 2017 to 2031. The CAGR for each of these regions and countries has also been provided for the forecast period from 2021 to 2031. The interventional pulmonology market study also covers the competitive scenario in these regions.
Companies Covered in Interventional Pulmonology Market Report
Key players in the global interventional pulmonology market have been profiled based on attributes such as company overview, product portfolio, financial overview, strategic overview, recent developments, and competitive business strategies
Major companies profiled in the global interventional pulmonology market report are
- Argon Medical
- Body Vision Medical Ltd.
- Boston Scientific Corporation
- C. R. Bard, Inc. (Becton, Dickinson and Company)
- CONMED Corporation
- Cook
- ENDO-FLEX GmbH
- Fujifilm Corporation
- KARL STORZ SE & Co. KG
- Medtronic
- Olympus Corporation
- Pennine Healthcare
- PENTAX Medical
- Pulmonx Corporation
- Richard Wolf GmbH
- Rocket Medical plc.
- TAEWOONG
- Vygon
- among others
Key Questions Answered in Interventional Pulmonology Market Report
- What are the major drivers, restraints, opportunities in the market?
- What are the revenue share projections of key segments of the global interventional pulmonology market during the forecast period?
- Which segment is likely to lead the global interventional pulmonology market in terms of revenue by 2031?
- How technological developments by the players are widening the scope for the global interventional pulmonology market?
- What is the market position of different companies operating in the global interventional pulmonology market?
Interventional Pulmonology Market – Segmentation
Product Type
- Bronchoscopes
- Flexible Bronchoscopes
- Endobronchial Ultrasound Bronchoscopes (EBUS)
- Electromagnetic Navigation Bronchoscopy Systems
- Pleuroscopes
- Respiratory Endotherapy Devices
- Aspiration Needles
- Biopsy Forceps
- Biopsy Brush
- Biopsy Needles
- Catheter
- Pulmonary Catheter
- Balloon Dilatation Catheter
- Others
- Airway Stents
- Pleural Catheters
- Endobronchial Valves
- Bronchial Thermoplasty Systems
Indication
- COPD
- Asthma
- Lung Cancer
- Tracheal & Bronchial Stenosis
- Others
End User
- Hospitals
- Ambulatory Surgical Centers
- Diagnostic Centers
- Specialty Clinics
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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