With the emergence and long-term Impact of COVID-19, the Global Interventional Pulmonology Market to reach USD 6.63 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Interventional Pulmonology Market is poised to raised USD 6.63 billion by 2030. Interventional pulmonology is a medical specialty that focuses on the detection and treatment of different illnesses and ailments which impact the respiratory system, particularly the lungs, and airways. Advanced endoscopic methods and minimally invasive treatments are used in this new and rapidly evolving field to offer diagnostic and therapeutic approaches for patients with lung and airway problems. The rising inclination towards the minimally invasive nature of procedures, growing emphasis on early diagnosis and screening, rising geriatric population, and favorable reimbursement policies are the major factors that are fueling the market demand across the globe.
The rising prevalence of respiratory diseases such as lung cancer, chronic obstructive pulmonary disease (COPD), and various pulmonary infections has led to a growing demand for interventional pulmonology procedures. According to the World Health Organization, in 2020, it was estimated that nearly 2.21 million new cases of trachea, bronchus, and lung cancer were recorded globally, which is projected to rise and is likely to reach 3.63 million new cases by 2040. As these conditions become more prevalent, the need for minimally invasive diagnostic and therapeutic interventions provided by interventional pulmonology increases. Thus, these aforementioned factors are propelling the growth of the Interventional Pulmonology Market during the estimated period.
Moreover, the increasing technological advancements in endoscopic techniques, as well as the ongoing research and development activities present various lucrative opportunities over the forecast years. However, the high cost of procedures and equipment and the dearth of specialized training and expertise are challenging the market growth throughout the forecast period of 2023-2030.
The regional analysis of Global Interventional Pulmonology Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World (ROW). North America dominated the market in 2022 owing to the increasing technological developments related to endoscopic procedures, and a shift towards minimally invasive surgery in developed nations such as the U.S. Additionally, the escalation of air pollution and the prevalence of lung disorders brought on by heavy smoking are significant market development factors. Asia Pacific is expected to grow at the highest CAGR over the forecast years. The increasing aging population, rising healthcare spending, and improvements in lung disease diagnosis and treatment are significantly propelling the market demand across the region.
The Global Interventional Pulmonology Market is highly competitive owing to the presence of several key manufacturers such as Argon Medical Systems LLP, Body Vision Medical Ltd., Boston Scientific Corporation, C. R. Bard, Inc. (Becton, Dickinson and Company), CONMED Corporation, ENDO-FLEX GmbH, Fujifilm Corporation, KARL STORZ SE & Co. KG, Medtronic.Olympus Corporation.
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Key findings of the study suggest:
- Global Interventional Pulmonology Market is anticipated to grow with a healthy growth rate of more than 6.7% over the forecast period 2023-2030
- In the Application segment, Bronchoscopes emerged as the leading market segment in 2022.
- North America dominated the market in 2022 owing to the increasing technological developments related to endoscopic procedures, and a shift towards minimally invasive surgery in developed nations such as the U.S.
- Asia-Pacific is expected at a high CAGR followed by North America during 2022-2030
Bizwit Research & Consulting has considered the following segments for the study:
By Product:
- Bronchoscopes
- Electromagnetic Navigation Bronchoscopy System
- Pleuroscopes
- Respiratory Endotherapy Devices
- Airway Stents
- Pleural Catheters
- Endobronchial Valves
- Bronchial Thermoplasty Systems
By Indication:
- Asthma
- COPD
- Lung Cancer
- Tracheal and Bronchial Stenosis
- Others
By End user:
- Hospitals
- Ambulatory Surgical Centers
- Diagnostic Centers
- Specialty Clinics
- Others
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROEU
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- ROAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Regional Outlook
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