Interventional Pulmonology Market by Product (Bronchoscopes, Electromagnetic Navigation Bronchoscopy System, Pleuroscopes, Respiratory Endotherapy Devices, Airway Stents, Pleural Catheters, Endobronchial Valves, and Bronchial Thermoplasty Systems), Indication (Asthma, COPD, Lung Cancer, Tracheal and Bronchial Stenosis, and Others), End User (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Specialty Clinics, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031

Global Interventional Pulmonology Market Analysis

The Global Interventional Pulmonology Market Size was $3,714.30 million in 2021 and is predicted to grow with a CAGR of 6.7%, by generating a revenue of $6,903.70 million by 2031.

Global Interventional Pulmonology Market Synopsis

The prevalence of respiratory diseases such as asthma, bronchitis, and COPD has increased globally, leading to a higher demand for pulmonology treatments. In addition, the aging population is also contributing to the rise in respiratory diseases, as elderly individuals are more prone to develop lung problems. Increase in the prevalence of these diseases has led to a growing demand for pulmonology treatments, driving the growth of the interventional pulmonology market. Moreover, advancements in technology have led to the development of new diagnostic tools and treatments for respiratory diseases, further increasing the demand for pulmonology services. The growing awareness among people about respiratory diseases and their treatments has also driven the market growth. These factors are anticipated to boost the interventional pulmonology market growth in the upcoming years.                  

However, some of the disadvantages of interventional pulmonology include a lack of awareness about pulmonology and respiratory diseases. In addition, the lack of awareness about the importance of preventative measures such as vaccination and regular check-ups further exacerbates lung problems. Moreover, the cultural stigma surrounding respiratory diseases and the associated costs of treatment often restrict people from seeking medical attention, leading to a delay in diagnosis and treatment. The lack of awareness also affects the development of policies and programs aimed at reducing the burden of respiratory diseases. All these are the major factors projected to hamper the growth of the market during the forecast period.

The interventional pulmonology market size is expected to grow significantly in the upcoming years due to increase in the prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, and lung cancer. The increase in demand for early diagnosis and treatment of respiratory disorders, and the development of new technologies and devices for pulmonary function testing, are some of the key factors driving the growth of the market. Moreover, the rise in tobacco consumption, air pollution, and an aging population also contribute to the interventional pulmonology market expansion. In addition, the growing healthcare expenditure and increasing government funding for R&D in the field of pulmonology are also expected to boost the market growth in the future.

According to regional analysis, the North America interventional pulmonology market accounted for the highest market share in 2021. Recent FDA approvals, a large number of drugs in development, an increase in attention to lowering the number of undiagnosed asthma cases, and accessibility to early therapy in the region can all be attributed to this. According to Clinical Decision Support (CDS), asthma is considered to have contributed to 183,000 hospital stays and 1.6 million visits to emergency departments in the U.S. in 2017.

Interventional Pulmonology Overview

Interventional pulmonology has transformed the field of pulmonary (lung and breathing) medicine by offering the most advanced minimally invasive procedures for diagnosing and treating both malignant and non-malignant disorders of the lungs and airways. Lung cancer, thoracic cancer, and other illnesses of the respiratory system are diagnosed and treated using minimally invasive, non-surgical techniques by interventional pulmonology.

COVID-19 Impact on Global Interventional Pulmonology Market

The COVID-19 pandemic has had a significant impact on the interventional pulmonology market. With the outbreak of the pandemic, the demand for respiratory devices and equipment, such as ventilators, oxygen concentrators, and face masks, has increased. This has led to an increase in the production and sales of these products and a corresponding increase in the overall value of the pulmonology market. However, the pandemic has also caused disruptions to the supply chains of many pulmonology-related products, leading to shortages of interventional pulmonology products and increased prices. In addition, many hospitals and healthcare facilities postponed or canceled non-emergency procedures, such as pulmonary function tests and sleep studies, leading to a decrease in revenue for pulmonologists and related businesses during the pandemic. The COVID-19 impact on interventional pulmonology market also created new opportunities for telemedicine and remote patient monitoring in pulmonology, as social distancing measures made in-person visits more difficult. This has led to an increase in demand for digital health tools and remote monitoring devices, which has further impacted the pulmonology market. Furthermore, the COVID-19 pandemic has had both positive and negative effects on the interventional pulmonology market, with the impact varying depending on the specific product or service.

Increasing Prevalence of Chronic Obstructive Pulmonary Diseases and Asthma is Expected to Drive the Market Growth

There has been a significant increase in the number of people suffering from respiratory diseases such as asthma, COPD, and lung cancer, leading to an increase in demand for pulmonology treatments and services. According to the World Health Organization (WHO), chronic respiratory diseases are estimated to affect more than 339 million people worldwide and are responsible for approximately 4.3 million deaths annually. The rise in air pollution, smoking, and unhealthy lifestyles are contributing to the rise in respiratory diseases, driving the growth of the pulmonology market. Furthermore, advancements in pulmonology treatments and advanced medical devices, such as bronchoscopes, spirometers, and oxygen concentrators, have helped in improving the diagnostic and treatment processes. These factors are projected to drive the interventional pulmonology industry growth during the forecast period.

To know more about global interventional pulmonology market drivers, get in touch with our analysts here.

Limited Access to Healthcare Services to Restrain the Market Growth  

In many developing countries, access to healthcare services, especially specialized medical care, is limited due to various factors such as poverty, lack of infrastructure, and a shortage of trained healthcare professionals. This can restrict the growth of the interventional pulmonology market, as patients in these countries may not have access to essential services such as diagnostic tests, treatments, and pulmonary rehabilitation programs. In addition, the cost of healthcare services may be too high for many individuals, further limiting access, which is anticipated to hamper the interventional pulmonology market growth in the future.

Growing Demand for Pulmonology Treatments to Create Excellent Opportunities in the Market  

Interventional pulmonology is widely used for the development of treatments. The increase in awareness about respiratory diseases and the availability of improved diagnostic techniques is driving the demand for pulmonology treatments. This is leading to an increase in focus on early detection and treatment of these diseases, thereby providing a major opportunity for growth in the interventional pulmonology market. The development of advanced pulmonology devices, such as spirometers, peak flow meters, and pulse oximeters, has made it easier to diagnose and monitor respiratory diseases. This has resulted in an increase in demand for these devices, providing a major opportunity for the interventional pulmonology market growth. Governments of various countries around the world are investing in healthcare infrastructure and increasing their support for healthcare services. This is providing a major boost to the interventional pulmonology market, as it helps to improve the availability of pulmonology treatments.

To know more about global interventional pulmonology market opportunities, get in touch with our analysts here.

Global Interventional Pulmonology Market, by Product

Based on product, the market has been divided into bronchoscopes, electromagnetic, avigation bronchoscopy system, pleuroscopes, respiratory endotherapy devices, airway stents, pleural catheters, endobronchial valves, and bronchial thermoplasty systems. Among these, the bronchoscopes sub-segment accounted for the highest market share in 2021 and is estimated to show the fastest growth during the forecast period.

Global Interventional Pulmonology Market Share, by Product, 2021

Source: Research Dive Analysis

The bronchoscopes sub-segment accounted for the highest interventional pulmonology market share in 2021 and is anticipated to show the fastest growth during the forecast period. The most common interventional pulmonology procedure performed through the bronchoscope is bronchoscopy. Bronchoscopy can be done with either reusable or single-use bronchoscopes. Both single-use and reusable bronchoscopes are designed for use during the endoscopic examination, diagnosis, and treatment of the airways and tracheobronchial tree. COPD, tumors, lung cancer, airway stenosis, pneumonia, bronchitis, and other lung infections can all be diagnosed using a single-use bronchoscope. Factors such as an increase in the number of cases of respiratory diseases, product developments that improve reimbursement policies, and technological advancements are expected to drive the market growth further.

Global Interventional Pulmonology Market, by Indication

Based on indication, the market has been divided into asthma, COPD, lung cancer, tracheal and bronchial stenosis, and others. Among these, the asthma sub-segment accounted for the highest revenue share in 2021.

Global Interventional Pulmonology Market Size, by Indication, 2021

Source: Research Dive Analysis

The asthma sub-segment accounted for the highest interventional pulmonology market share in 2021. Asthma affects people of all ages, though it usually affects kids. It is a disease marked by recurrent bouts of shortness of breath and wheezing that vary in severity and frequency from person to person. It can happen from hour to hour and day to day in an individual. The market for asthma is expanding owing to the rising asthma prevalence and an aging population. The leading players in the global market for asthma medications may benefit from lucrative growth potential brought on by ongoing R&D efforts and technical improvements.

Global Interventional Pulmonology Market, by End User

Based on end user, the market has been divided into hospitals, ambulatory surgical centers, diagnostic centers, specialty clinics, and others. Among these, the hospitals sub-segment accounted for the highest revenue share in 2021.

Global Interventional Pulmonology Market Growth, by End User, 2021

Source: Research Dive Analysis

The hospitals sub-segment accounted for the highest market share in 2021. The high patient preference for hospital-based treatment and procedures, availability of skilled healthcare professionals, technologically advanced facilities, and favorable reimbursement scenario all contribute to the end user segment market share.  In addition, adoption and use of advanced medical devices in healthcare facilities such as hospitals would be aided by improved healthcare infrastructure and increased healthcare spending by relevant government agencies. Therefore, the interventional pulmonology market demand is expected to increase in the upcoming years.

Global Interventional Pulmonology Market, Regional Insights

The interventional pulmonology market analysis was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Global Interventional Pulmonology Market Size & Forecast, by Region, 2021-2031 (USD Million)

Source: Research Dive Analysis

The Market for Interventional Pulmonology in North America to be the Most Dominant

The North America interventional pulmonology market accounted for the highest market share in 2021. North America's large share of the global interventional pulmonology market can be attributed to an increase in the incidence and prevalence of chronic respiratory diseases, a favorable reimbursement scenario in the U.S., and an increase in the incidence of lung cancer in Canada. The Asthma and Allergy Foundation of America estimates that there are around 25 million asthma patients in the U.S. or almost 1 in every 13 people. Asthma affects nearly 20 million Americans who are over 18 years old. Adult females are more likely to have asthma than adult males. More than 6.1% of adult males and 9.8% of adult females suffer from asthma. These factors are anticipated to drive the regional market growth during the forecast period.

Competitive Scenario in the Global Interventional Pulmonology Market

Investment and agreement are common strategies followed by major market players. For instance, in August 2020, The Olympus corporation recalled BF-Q180 bronchoscopes after failing a 510(k) clearance and being linked to a higher rate of patient infection than other Olympus medical system corporation bronchoscopes.

Source: Research Dive Analysis

Some of the leading interventional pulmonology market players are 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