The market size of the Global Interventional Pulmonology Market in the year 2021 is valued at 3.74 billion and is predicted to reach 6.47 billion by the year 2030 at 6.6% CAGR during the forecast period.
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Lung cancer, thoracic cancer, tracheal cancer, and other disorders of the respiratory system are diagnosed and treated with non-surgical, minimally invasive techniques in interventional pulmonology. Endoscopic procedures are used, which involve putting an instrument into the human body to inspect interior organs and tissues as well as perform additional treatments. Shortness of breath, coughing, and chest pain are just a few of the symptoms that can be treated with interventional pulmonary medicine. Interventional pulmonology is a relatively new discipline that has exploded in popularity over the last decade, and it uses sophisticated instruments to diagnose and treat a variety of pulmonary illnesses. Cardiothoracic surgeons, in addition to pulmonologists, undertake interventional pulmonology treatments on a regular basis. Factors such as rising awareness of lung cancer and rising healthcare expenditure for research & development activities are expected to drive the market growth during the forecast period. However, the market’s expansion would be hampered by the related patient risk, high maintenance costs, and entry obstacles for new businesses. Rising healthcare costs, increased use of e-cigarettes, and improved training programmes for interventional pulmonologists are all possible developments. Furthermore, product recalls are a primary issue limiting the growth of the global interventional pulmonology market.
List of Prominent Players in the Interventional Pulmonology Market:
Body Vision Medical Ltd.
Boston Scientific Corporation
R. Bard, Inc. (Becton, Dickinson and Company)
KARL STORZ SE & Co. KG
Richard Wolf GmbH
Rocket Medical plc.
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The market’s growth is expected to be fueled by factors such as rising lung cancer incidence, rising CO2 emissions, the expansion of the medical device sector, rising COPD mortality rates, an ageing population, and increased public awareness. In the interventional pulmonology sector, robotic bronchoscopy is becoming a significant changer. A rapid and reliable lung cancer diagnosis has become necessary in the interventional pulmonology sector. This is prompting advancements in robotic bronchoscopy platforms, which use a hand-held joystick to guide a small, flexible endoscope into the lung using computer-assisted navigation. The entire global interventional pulmonology market might benefit in the near future as a result of such advances.
The associated patient risk, high maintenance expenses, and entrance barriers for new enterprises would stymie the market’s growth. Increased use of e-cigarettes, rising healthcare expenses, and improved training programmes for interventional pulmonologists are all possibilities. Furthermore, one of the key difficulties inhibiting the global interventional pulmonology market’s growth is product recalls..
The global interventional pulmonology market is divided into five regions: North America, Europe, Latin America, Asia Pacific, the Middle East and Africa. During the projected period, North America is expected to hold the largest share of the global interventional pulmonology market. However, the interventional pulmonology market in Asia Pacific is predicted to increase significantly during the projected period due to an ageing population and changing illness trends, as well as rising demands from healthcare facilities, which is becoming a major region in the global market.
- In Dec 2020, Veran Medical Technologies, Inc. agreed to be acquired by Olympus Corporation. The acquisition will be carried out by Olympus Corporation of the Americas (OCA), an Olympus affiliate, and will be the latest in a series of strategic acquisitions aimed at bolstering Olympus’ position as a leading worldwide medical equipment firm.
- In Jan 2019, Medtronic plc said that the Journal of Thoracic Oncology had published the 12-month results of the NAVIGATE study. This is the largest prospective, multicenter trial evaluating electromagnetic navigation bronchoscopy (ENB) procedures using the superDimension(TM) navigation system to help diagnose, stage, and treat lung cancer. Medtronic Starts a Separate Study to Evaluate the Safety and Performance of the Emprint(TM) Ablation Catheter with the superDimension(TM) Navigation System for Lung Ablation Procedures.
Segmentation of Interventional Pulmonology Market-
- Lung Cancer
- Tracheal & Bronchial Stenosis
- Other Indications
- Hospitals And Ambulatory Surgical Centers
- Diagnostic Centers And Specialty Clinics
- Other End-Users
- Electromagnetic Navigation Bronchoscopy Systems
- Respiratory Endotherapy Devices
- Airway Stents
- Pleural Catheters
- Endobronchial Valves
- Bronchial Thermoplasty Systems
- The US
- The UK
- Rest of Europe
- South Korea
- South East Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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