The Global Interventional Pulmonology Market is estimated to reach over USD 6.47 billion by 2030, exhibiting a CAGR of 6.6 % during the forecast period.
Interventional pulmonology uses non-surgical, minimally invasive procedures to diagnose and treat lung cancer, thoracic cancer, tracheal cancer, and other respiratory system problems. Endoscopic procedures are employed, which entail inserting an instrument into the human body to investigate and treat internal organs and tissues. Shortness of breath, coughing, and chest pain are just a few symptoms that interventional pulmonary medicine can help with. Interventional pulmonology is a relatively new field that has surged in popularity in the last decade. It employs sophisticated devices to detect and treat a wide range of lung disorders. In addition to pulmonologists, cardiothoracic surgeons do interventional pulmonology therapies on a frequent basis. During the forecast period, factors such as rising lung cancer awareness and rising healthcare expenditure for research and development activities are expected to fuel market growth. However, the market's growth would be restricted by the associated patient risk, high maintenance costs, and barriers to entry for new enterprises. Increased use of e-cigarettes, rising healthcare expenses, and improved training programs for interventional pulmonologists are all possibilities.
The Interventional Pulmonology Market is segmented on the basis of indications, end-users and products. Based on indications, the market is segmented as COPD, Asthma, Lung Cancer, Tracheal & Bronchial Stenosis, and Other Indications. By end-users, the market is segmented into Hospitals and Ambulatory Surgical Centers, Diagnostic Centers and Specialty Clinics, and Other End-Users. By-products, the market is segmented into Bronchoscopes, Electromagnetic Navigation Bronchoscopy Systems, Pleuroscopes, Respiratory Endotherapy Devices, Airway Stents, Pleural Catheters, Endobronchial Valves, and Bronchial Thermoplasty Systems.
Based on product, the respiratory endotherapy devices segment is accounted as a major contributor to the Interventional Pulmonology Market.
In 2021, the worldwide interventional pulmonology market was led by respiratory endotherapy devices and is projected to continue over the forecast period. Bronchoscopic and endoscopic diagnostics and surgery are performed using respiratory endotherapy equipment. Bias forceps, cytology brushes, aspiration needles, electrosurgery snares, foreign body removal tools, guide sheaths, and other similar devices used in endotherapy procedures include biopsy forceps, cytology brushes, aspiration needles, electrosurgery snares, and foreign body removal tools, guide sheaths, and other similar devices used in respiratory endotherapy procedures.
Asthama segment witnessed growth at a rapid rate
In 2021, the asthma category accounted for the majority of the global interventional pulmonology market. Asthma affects people of any age, but children are the most affected. Recurrent bouts of dyspnea and wheezing characterize the condition, which varies in severity and frequency from person to person. It can happen to an individual at any time of day or night.
The North America Interventional Pulmonology Market holds a significant revenue share in the region.
North America, Europe, Latin America, Asia Pacific, the Middle East and Africa make up the worldwide interventional pulmonology market. North America is estimated to hold the highest share of the global interventional pulmonology market during the forecast period. However, due to an ageing population, changing sickness trends, and increased demands from healthcare facilities, the interventional pulmonology market in the Asia Pacific region is projected to expand substantially over the forecast period, making it a prominent region in the worldwide market.
Some of the major key players in the Interventional Pulmonology Market are Argon Medical, Body Vision Medical Ltd., Boston Scientific Corporation, C. R. Bard, Inc. (Becton, Dickinson and Company), CONMED Corporation, Cook Medical, 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, and Vygon. In the interventional pulmonology area, companies like Olympus are continually releasing innovative products. In addition, many businesses are working hard to obtain regulatory approval for innovative procedures and interventions. Because of the market's consolidation, larger firms are focusing on acquiring smaller and medium-sized businesses.