According to the report, the interventional pulmonology market size was valued at US$ 3 Bn in 2020 and is expected to reach US$ 8 billion by 2030, expanding growth at a CAGR of 9.1% from 2021 to 2030.
Interventional pulmonology uses endoscopy and other tools to diagnose and treat conditions in the lungs and chest by using minimally invasive techniques. Rise in prevalence of respiratory disorders, increase in geriatric population, and surge in incidence of diseases that require endoscopic ultrasound procedures are the major factors anticipated to drive the global interventional pulmonology market during the forecast period.
Report Scope of the Interventional Pulmonology Market
|Market Size||US$ 8 billion by 2030|
|Growth Rate||CAGR of 9.1% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Companies Mentioned||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, and Vygon|
Targeted Therapies, Collaboration among IP Workforce Help Improve Medical Outcomes
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.
Interventional Pulmonology Market Overview
- This report analyzes the current scenario and future prospects of the global interventional pulmonology market. Significant applications of interventional pulmonology devices are projected to boost the growth of the global interventional pulmonology market from 2021 to 2030.
- 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 Report Highlights
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. The respiratory endotherapy devices segment dominated the global interventional pulmonology market in 2020 and the trend is projected to continue during the forecast period. Respiratory endotherapy devices are used for bronchoscopic or endoscopic diagnostics and surgery. Devices used in endotherapy include biopsy forceps, cytology brushes, aspiration needles, electrosurgery snares, and foreign body removal tools, guide sheaths, and other similar devices used for respiratory endotherapy procedures.
Based on indication, the global interventional pulmonology market has been categorized into asthma, COPD, lung cancer, tracheal & bronchial stenosis, and others. The asthma segment held major share of the global interventional pulmonology market in 2020. Asthma affects all age groups, but often starts in the childhood. It is a disease characterized by recurrent attacks of breathlessness and wheezing, which vary in severity and frequency from person to person. In an individual, it could occur from hour to hour and day to day.
In terms of end user, the global interventional pulmonology market has been divided into hospitals, ambulatory surgical centers, diagnostic centers, specialty clinics, and others. The hospitals segment held a major share of the global interventional pulmonology market in 2020.
In terms of region, the global interventional pulmonology market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
North America is anticipated to account for a leading share of the global interventional pulmonology market during the forecast period. The interventional pulmonology market in Asia Pacific is expected to grow at a rapid pace in the near future. India and China are likely to be lucrative markets for interventional pulmonology during the forecast period.
Interventional Pulmonology Market Key Players
Key players operating in the global interventional pulmonology market 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, and Vygon, among others. These companies engage in research & development to develop novel products in order to expand product offerings and customer base.
Read also @ Smart Patches Market Opportunities & Forecast 2021-2030
Global Interventional Pulmonology Market Segmentation :
By Product Type
- Flexible Bronchoscopes
- Endobronchial Ultrasound Bronchoscopes (EBUS)
- Electromagnetic Navigation Bronchoscopy Systems
- Respiratory Endotherapy Devices
- Aspiration Needles
- Biopsy Forceps
- Biopsy Brush
- Biopsy Needles
- Pulmonary Catheter
- Balloon Dilatation Catheter
- Others (airway retrieval basket, airway suction catheter, etc.)
- Airway Stents
- Pleural Catheters
- Endobronchial Valves
- Bronchial Thermoplasty Systems
- Lung Cancer
- Tracheal & Bronchial Stenosis
By End User
- Ambulatory Surgical Centers
- Diagnostic Centers
- Specialty Clinics
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- North America
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