Interventional Pulmonology Market 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): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global interventional pulmonology market is anticipated to reach $ 6.9 billion by 2031, growing from $3.7 billion in 2021 at a CAGR of 5.0% from 2022 to 2031.
Interventional pulmonology uses endoscopy and other tools to diagnose and treat conditions related to the lungs and chest. These procedures may be offered by pulmonologists (lung specialists) who have undergone extra training. Interventional pulmonologists offer diagnostic and treatment services for major lung problems including compressed airways, tumors, cancer, tuberculosis, and other airway stricture causes. The increase in healthcare expenditure globally is driving the growth of the pulmonology market. Governments of various countries are investing in healthcare infrastructure and services, and individuals are becoming more aware of the importance of preventive healthcare. This has led to an increase in the demand for pulmonology services, which is driving the growth of the interventional pulmonology market.
The need for affordable and accessible respiratory care is crucial, and healthcare providers need to work towards reducing the cost of pulmonology treatments to ensure better health outcomes for patients globally. The cost of purchasing specialized medical equipment used in pulmonology is also high, which can be a challenge for small-scale clinics and hospitals, especially in low-income countries. This can further reduce the reach of advanced pulmonology treatments and increase the gap in the quality of healthcare between developed and developing countries, which is anticipated to hamper the interventional pulmonology market growth.
The increase in emphasis on developing innovative pulmonology products, as well as the rise of telemedicine services, are expected to create new market opportunities. Telemedicine services are helping pulmonologists to diagnose patients remotely and provide treatments that may not be available in the patient's location. Pulmonology technology advancements, such as minimally invasive surgical procedures, respiratory support devices, and imaging techniques, are driving the market expansion. This is expected to create new business opportunities for pulmonology market players and is likely to drive the market expansion in the future.
The COVID-19 pandemic has had a significant impact on the interventional pulmonology market. With the outbreak of the pandemic, there has been an increase in the demand for respiratory devices and equipment like ventilators, oxygen concentrators, and face masks. However, the pandemic has disrupted the supply chains of several pulmonology-related items, resulting in shortages and price increases. Furthermore, many hospitals and healthcare institutions delayed or canceled non-emergency treatments such as pulmonary function testing and sleep studies, resulting in lower income for pulmonologists and related businesses.
The key players profiled in this report include Huger Medical Instrument Co. Ltd, Medtronic Plc, Boston Scientific Corporation, Olympus Corporation, FUJIFILM Corporation, Becton, Smith’s Group Plc, Cook Medical, Vygon, and Clarus Medical LLC.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the interventional pulmonology market analysis from 2021 to 2031 to identify the prevailing interventional pulmonology market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the interventional pulmonology market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global interventional pulmonology market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy End-userHospitals
Ambulatory Surgical Centers
Diagnostic Centers
Specialty Clinics
Others
By ProductBronchoscopes
Electromagnetic Navigation Bronchoscopy System
Pleuroscopes
Respiratory Endotherapy Devices
Airway Stents
Pleural Catheters
Endobronchial Valves
Bronchial Thermoplasty Systems
By IndicationAsthma
COPD
Lung Cancer
Tracheal and Bronchial Stenosis
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
United Arab Emirates
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Huger Medical Instrument Co. Ltd
Medtronic Plc
Boston Scientific Corporation
Olympus Corporation
fujifilm corporation
Becton
Smith’s Group Plc
cook medical
Vygon
clarus medical llc
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