Global Interventional Pulmonology Market to Experience Noteworthy Growth by 2031 with the Rising Need for Pulmonology Treatments

In today's world, respiratory disorders remain a serious threat to health. These illnesses can cause chronic disorders, a decline in quality of life, a rise in medical expenses, and even death. As a result, lowering the prevalence and consequences of respiratory disorders is crucial for public health. This is where the interventional pulmonology solution comes in.

The interventional pulmonology market belongs to the medical specialty that focuses on minimally invasive diagnostic and therapeutic methods for treating respiratory illnesses. Interventional pulmonology uses non-surgical, minimally invasive methods to detect and treat respiratory diseases such as thoracic cancer, lung cancer, and other similar conditions.

Recent Trends in the Interventional Pulmonology Market

The interventional pulmonology market is continuously evolving, with new technologies and procedures being developed. Interventional pulmonologists have profited from developments in diagnostic procedures such as navigational bronchoscopy, endobronchial ultrasound (EBUS), and electromagnetic navigation bronchoscopy (ENB). These technologies offer more accurate lung cancer diagnosis and staging, improving the effectiveness of treatment. Additionally, interventional bronchoscopy has received a lot of attention in the field of interventional pulmonology. Techniques such as endobronchial valves, bronchial thermoplasty, laser therapy, and airway stenting are used to treat problems such as bronchial blockage, severe asthma, and malignant airway strictures.

Newest Insights in the Interventional Pulmonology Market

As per a report by Research Dive, the global interventional pulmonology market is expected to grow at a CAGR of 6.7% and generate revenue of $6,903.70 million by 2031. The primary factors driving the growth of the market are the growing public awareness of respiratory diseases and their treatments, advancements in pulmonology treatments and medical devices such as spirometers, bronchoscopes, and oxygen concentrators, and an increase in smoking, air pollution, and unhealthy lifestyles, all of which contribute to the rise in respiratory diseases. However, the lack of infrastructure, absence of properly qualified healthcare workers, and high cost of healthcare services are expected to hinder the interventional pulmonology market growth.

The interventional pulmonology market in North America is expected to remain dominant in the coming years. The region's high revenue in 2021 was driven by a rise in the prevalence of chronic respiratory illnesses. This has led to an increased demand for advanced diagnostic and therapeutic techniques provided by interventional pulmonologists.

How are Market Players Responding to the Rising Demand for Interventional Pulmonology?

Market players are responding to the rising demand for interventional pulmonology by investing in research and development to create more advanced and innovative interventional pulmonology products. They are also partnering with healthcare professionals and organizations to improve patient outcomes and general practice of interventional pulmonology.

In addition, market players are increasingly focusing on strategic partnerships and collaborations with other players in the industry to leverage their strengths and expand their reach. Some of the foremost players in the interventional pulmonology market are Medtronic Plc, Boston Scientific Corporation, Olympus Corporation, Cook Medical, Becton, Huger Medical Instrument Co. Ltd., Fujifilm Corporation, Smith’s Group Plc, Vygon, Clarus Medical LLC., and others. These players are focused on implementing strategies such as mergers and acquisitions, novel developments, collaborations, and partnerships to reach a leading position in the global market. 

For instance:

• In May 2020, Fujifilm Holdings Corporation, a Tokyo-based international corporation of Japanese companies, announced several achievements and projects connected to the extension of their endoscopy and endoscopic health portfolio, such as the introduction of high-definition images, artificial intelligence, and advanced data processing.
   
• In November 2022, Fujifilm India, one of the most well-known camera manufacturers in the world, launched a new small video bronchoscope known as the EB-710P at the National Conference NAPCON (from November 10–13, 2022), which was being held in Udaipur. The company increased the scope of its pulmonology solutions.
   
• In February 2023, Fujifilm India added the new compact ultrasonic probe system PB2020-M2 to its line of endoscopic solutions. The latest technology was presented by the organization at the 3rd Annual Conference on Interventional Pulmonology, Bronchus 2023.

COVID-19 Impact on the Global Interventional Pulmonology Market

The COVID-19 pandemic had a moderate impact on the global interventional pulmonology market. The pandemic had disrupted the supply chains for numerous pulmonology-related products, which produced a shortage of interventional pulmonology products and an increase in price. In addition, many hospitals and healthcare facilities delayed or cancelled non-emergency procedures, like pulmonary function tests and sleep studies, resulting in a drop in revenue for pulmonologists and allied businesses during the pandemic. However, the influence of COVID-19 on the interventional pulmonology market opened new possibilities for telehealth and remote monitoring of patients in pulmonology as social distancing policies made in-person visits increasingly challenging. This increased the demand for digital health technologies and remote monitoring gadgets. These factors had a significant impact on the market growth during the pandemic.