Description
The Global Interventional Pulmonology Market size was USD 4.51 billion in 2023 and it is expected to grow to USD 6.75 billion in 2031 with a CAGR of 6.65% in the 2024-2031 period.
Global Interventional Pulmonology Market: Overview
Interventional pulmonology refers to a medical subspecialty that focuses on the use of minimally invasive procedures to diagnose and treat various diseases of the respiratory system, including the lungs and airways. It involves the application of advanced bronchoscopic and other interventional techniques to manage conditions such as lung cancer, chronic obstructive pulmonary disease (COPD), pleural diseases, and other pulmonary disorders.
The global interventional pulmonology market is a rapidly growing field that focuses on the minimally invasive diagnosis and treatment of lung diseases using specialized techniques and technologies. It utilizes a variety of bronchoscopes, catheters, and other instruments inserted through natural orifices or small incisions to reach the lungs and airways.
The market encompasses a diverse range of products, including bronchoscopes, stents, cryotherapy devices, forceps, graspers, needle aspiration devices, and other specialized tools. Each product serves a unique purpose in diagnosing and treating respiratory conditions. The market operates on a global scale, with companies and healthcare institutions involved in research, development, and manufacturing of interventional pulmonology products. Market segmentation is typically based on product types, procedures, end-users, geography, and specific indications.
Global Interventional Pulmonology Market: Covid-19 Impact
The pandemic led to a surge in demand for oxygen concentrators, ventilators, and personal protective equipment (PPE) used in interventional pulmonology procedures. This boosted the market for some specific devices and consumables. Research and development efforts shifted towards interventional pulmonology techniques for managing COVID-19 related lung complications, such as pneumonia and fibrosis. This accelerated innovation in the field.
The pandemic encouraged the adoption of telemedicine for consultations and remote monitoring of respiratory patients. This could potentially improve access to interventional pulmonology services in the future. The pandemic disrupted global supply chains, causing shortages of essential equipment and materials for interventional pulmonology procedures. This led to price hikes and delays in treatment for some patients. During the peak of the pandemic, many hospitals postponed or canceled non-emergency procedures, including interventional pulmonology procedures for chronic lung diseases.
This caused a temporary dip in market growth. The COVID-19 pandemic has had a mixed impact on the global interventional pulmonology market. While it initially caused a slowdown, the increased demand for respiratory products, R&D focus on lung complications, and potential for telemedicine adoption might lead to long-term positive effects.
Global Interventional Pulmonology Market: Growth Drivers
1. Prevalence of Respiratory Diseases:
The increasing incidence of respiratory disorders, including lung cancer, chronic obstructive pulmonary disease (COPD), and other pulmonary conditions, is a significant driver for the interventional pulmonology market. As the global population ages, the prevalence of respiratory diseases is expected to rise.
2. Minimally Invasive Procedures:
The trend towards minimally invasive procedures in healthcare, including interventional pulmonology, is a key driver. Minimally invasive techniques are associated with shorter recovery times, reduced patient discomfort, and improved overall outcomes compared to traditional surgical approaches.
3. Multidisciplinary Approach to Respiratory Care:
The adoption of a multidisciplinary approach in the management of respiratory disorders, involving collaboration among pulmonologists, thoracic surgeons, oncologists, radiologists, and other specialists, contributes to the growth of the interventional pulmonology market.
Global Interventional Pulmonology Market: Restraining factors
1. Patient Risk Factors:
Patient-related factors, such as comorbidities or the presence of contraindications, can limit the suitability of interventional pulmonology procedures for certain individuals. Identifying appropriate candidates for these interventions is crucial for successful outcomes.
2. Complications and Risks:
Like any medical procedure, interventional pulmonology interventions come with inherent risks and potential complications. Concerns about adverse effects may influence both patient and physician willingness to adopt these procedures, particularly in cases where less invasive alternatives exist.
Global Interventional Pulmonology Market: Opportunity factors
1. Patient-Centric Care Models:
Opportunities exist for the development of patient-centric care models in interventional pulmonology. Tailoring procedures to individual patient needs, preferences, and comfort can enhance the patient experience and improve outcomes.
2. Robot-Assisted Interventions:
The integration of robotic systems in interventional pulmonology procedures presents opportunities for increased precision and control. Robotic-assisted interventions could become more widespread, offering benefits in complex procedures.
Global Interventional Pulmonology Market: Challenges
1. Global Health Crises (e.g., Pandemics):
Global health crises, such as the COVID-19 pandemic, can disrupt healthcare systems and impact the delivery of interventional pulmonology services. Prioritization of resources for pandemic response may lead to delays or cancellations of elective procedures.
2. Technological Complexity:
The complexity of certain interventional pulmonology technologies may pose challenges. Healthcare professionals may require specialized training to adopt and effectively utilize advanced tools and techniques, leading to a potential learning curve.
Global Interventional Pulmonology Market: Segmentation
- Based On Indication: The market is segmented into Lung Cancer, Chronic Obstructive Pulmonary Disease (COPD), Pleural Diseases, and Others. Among these the Lung cancer is the leading cause of cancer death worldwide, with millions of new cases diagnosed each year.
- Based On Product Type: The market is segmented into Bronchoscopes, Stents, Cryotherapy Devices, Forceps and Graspers, Needle Aspiration Devices and Others. Among these Bronchoscopes currently hold the majority of the revenue share.
- Based On Procedure: Based on procedure segmentation, the market is further divided into Bronchoscopy, Lung Biopsy, Bronchial Thermoplasty, Pleuroscopy, and Others. Among these, the Bronchoscopy contributes largest revenue share.
- Based On End-User: Based on End-User segmentation, the market is further divided into Hospitals, Ambulatory Surgical Centers (ASCs), and Clinics. Among these, the Hospitals contributes largest revenue share.
- Based On Region: Based on Region, the market is segmented into five key geographical regions namely – North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Global Interventional Pulmonology Market: Regional Insights
1. North America
North America currently holds the largest market share due to factors like high healthcare spending, advanced healthcare infrastructure, and a significant burden of chronic respiratory diseases. The region actively invests in research and development, fostering innovation in bronchoscopes, navigation systems, and other interventional pulmonology technologies. The growing geriatric population with increased susceptibility to respiratory diseases fuels market demand for diagnostic and therapeutic procedures.
2. Europe
Europe follows North America in market size, driven by factors like well-established healthcare systems, government initiatives supporting lung health, and rising awareness of respiratory diseases. Expanding insurance coverage for interventional pulmonology procedures facilitates accessibility and market growth.
3. Asia-Pacific
Asia Pacific demonstrates the highest growth potential due to a large and rapidly growing population, rising disposable incomes, and increasing healthcare spending. Countries like China and India are experiencing rapid economic development, leading to growing investments in healthcare infrastructure and adoption of advanced interventional pulmonology technologies.
4. Latin America
Latin America holds significant potential for market growth, with rising healthcare spending and a growing middle class. Limited healthcare infrastructure and economic instability in some countries create hurdles to market expansion.
5. Middle East and Africa
The MEA region currently holds the smallest market share, but it is expected to see modest growth in the coming years. Limited healthcare infrastructure, political instability, and low healthcare awareness pose challenges to market expansion.
Competitive Landscape
- Boston Scientific Corporation,
- Olympus Corporation,
- Clarus Medical Llc, Vygon,
- Medtronic Plc,
- Cook Medical,
- Huger Medical Instrument Co. Ltd.,
- Becton, Smith’s Group Plc,
- Pentax Medical
Global Interventional Pulmonology Market: Recent Developments
- Boston Scientific Corporation: In November 2023, Boston Scientific closes the acquisition of Relievant Medsystems, Inc., expanding its portfolio of interventional pain management solutions. This acquisition adds the Intracept® system, a minimally invasive treatment for vertebrogenic pain, to Boston Scientific’s offerings.
- Medtronic PLC: In December 2023, Medtronic PLC & Cosmo Pharmaceuticals have entered into definitive agreement to revolutionize Endoscopy by infusing the power of Artificial Intelligence to enhance patient outcomes.
