Interventional Pulmonology Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global interventional pulmonology market, projected to achieve revenues of US$ 1.3 billion by 2024, is poised for significant growth. With a compound annual growth rate (CAGR) of 5%, the market is expected to reach a valuation of US$ 1.85 billion by 2031. This robust growth is fueled by the increasing prevalence of chronic obstructive pulmonary disease (COPD) and the escalating demand for advanced diagnostic and treatment options.

Increasing COPD Incidence Driving Market Growth

COPD, a chronic and progressive condition encompassing disorders such as chronic bronchitis and asthma, is a major health concern globally. According to the World Health Organization (WHO), 3.23 million individuals died from COPD in 2019, making it the third most common cause of death worldwide. Notably, nearly 90% of COPD-related deaths in people under the age of 70 occur in low- and middle-income nations. The rising incidence of COPD is expected to increase the demand for interventional pulmonary procedures, thereby driving market growth.

Impact of Smoking on COPD Rates

The American Lung Association highlights that the majority of COPD cases are caused by smoking cigarettes. Current smokers are seven times more likely to develop COPD, while former smokers are five times more likely compared to non-smokers. The widespread use of tobacco and nicotine-based smoking products contributes significantly to lung health issues. This escalating demand for diagnosis and treatment options for lung illnesses is expected to boost the interventional pulmonology market.

Aging Population and Respiratory Disorders

The global population is aging, and the number of individuals with respiratory disorders and other associated conditions is rising. As life expectancy increases, the proportion of individuals over 65 also grows, leading to higher demand for interventional pulmonary procedures. This demographic shift is expected to contribute to market expansion over time.

Factors Driving Market Growth Over the Forecast Period

Increasing Healthcare Spending and Improving Healthcare Infrastructure

Enhanced healthcare infrastructure and increased healthcare expenditures by public bodies are supporting the adoption and use of advanced medical devices in healthcare facilities. This trend is expected to drive the demand for interventional pulmonology procedures. Emerging economies such as India, Brazil, and Mexico, which have high COPD patient populations, present significant opportunities for market growth. Economic development and rising disposable income in these regions are expected to secure the market's long-term viability.

Advancement in Technology

Technological advancements in interventional pulmonology devices are expected to enhance the outcomes of pulmonary procedures. Manufacturers are incorporating advanced unreactive materials, such as silicon coatings, to prevent microbial film formation on bronchoscopes. Additionally, extra-thin manufacturing processes and higher-resolution cameras are being used to improve bronchoscopy techniques. These innovations are expected to uplift the market.

Manufacturers are also developing insertion tubes that can be easily rotated to reduce practitioner stress and fatigue. The miniaturization of endoscopic equipment and the introduction of ultra-slim designs for observing thin bronchi are among the strategies being employed to improve device performance.

Rising Demand for Improved Bronchoscopy Techniques

Technological advancements in bronchoscopy are contributing to the growth of the global interventional pulmonology market. Improvements in electronics and microtechnology have led to safer and more accurate diagnoses of lung disorders, resulting in better patient outcomes. The demand for advanced bronchoscopy techniques is expected to drive market growth throughout the forecast period.

Challenges Facing the Interventional Pulmonology Market

Lack of Awareness Regarding Symptoms of Asthma and COPD

A significant challenge facing the market is the lack of awareness about the symptoms of asthma and COPD. Many individuals with respiratory illnesses remain undiagnosed and untreated, particularly in low-income countries. This lack of awareness is a major impediment to market growth.

Availability of Non-Invasive Options and Strict Regulations

The development of non-invasive diagnostic techniques, such as liquid biopsies and magnetic resonance spectroscopy, poses a challenge to the growth of the interventional pulmonology market. Additionally, stringent regulatory requirements, such as pre-market approval (PMA) for Class III devices by the FDA, add to the market's challenges. The rigorous approval processes and the need for clinical evidence for high-risk devices are hindering market expansion.

Associated Side Effects of Bronchoscopy Procedures

Bronchoscopy procedures carry risks such as contamination, infection, bleeding, breathing difficulties, and low blood oxygen levels. These complications reduce the adoption rates of bronchoscopy techniques. The advent of methicillin-resistant Staphylococcus aureus and other resistant bacteria has increased the likelihood of post-bronchoscopy infections, further limiting market growth.

Country-Wise Insights

Why is the U.S. Market Booming?

Increasing Prevalence of Asthma

In 2022, the U.S. accounted for approximately 90.7% of the North American interventional pulmonology market. According to the Asthma and Allergy Foundation of America, around 25 million people in the U.S. suffer from asthma, which corresponds to about 1 in every 13 individuals. This high prevalence of asthma is driving the demand for interventional pulmonology procedures.

Will Germany Be a Lucrative Market for Interventional Pulmonology Manufacturers?

Rising Cases of COPD

Germany holds an 18.3% market share in Europe. An estimated 10-12% of German adults over the age of 40 have COPD. By 2030, the number of COPD patients in Germany is expected to rise to 7.9 million from 6.8 million in 2010. Smoking and occupational air pollution are significant contributors to respiratory illnesses in the country, making COPD one of the most prevalent disorders.

How is China Emerging as a Prominent Market for Interventional Pulmonology?

Growing Geriatric Population

In 2022, China held a market share of about 52.8% of the East Asian interventional pulmonology market. WHO estimates indicate that China has one of the world's fastest-growing aging populations. By 2040, 28% of China's population is expected to be over 60. This large geriatric population, coupled with rising respiratory ailments, presents lucrative growth opportunities for the interventional pulmonology market.

Key Industry Players:

• Medtronic Plc
• Boston Scientific Corporation
• Olympus Corporation
• FUJIFILM Corporation
• Becton, Dickinson and Company
• Smith’s Group Plc
• Cook Medical
• Vygon
• Clarus Medical LLC
• Huger Medical Instrument Co. Ltd
• Taewoong Medical Co. Ltd.
• Shanghai AoHua Photoelectricity Endoscope Co., Ltd
• Karl Storz
• Richard Wolf Corporation
• PENTAX Medical

Market Segmentation

By Product:

• Bronchoscopes

oFiberoptic (flexible) Bronchoscope

oRigid bronchoscope

oEndobronchial Ultrasound Bronchoscope (EBUS)

• Convex EBUS
• Radial EBUS
• Respiratory Endotherapy Devices

oAspiration Needles

oBiopsy Forceps

oOther

• ENB Systems
• Pleuroscopes

oSemi flexible Pleuroscopes

oRigid Pleuroscopes

• Airway Stents
• Bronchial Thermoplasty Systems
• Pleural Catheters
• Endobronchial Valves

By Indication:

• Lung Cancer
• Asthma
• COPD
• Foreign Body Extraction
• Tracheal and Bronchial Stenosis
• Others

By End User:

• Hospitals
• Pulmonology Clinics
• Ambulatory Surgical Centers
• Diagnostic Centers

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa

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