The interventional pulmonology market is set to reach from US$ 1,145.6 Mn in 2017 to US$ 1,747.0 Mn by 2026 highlighting unswerving growth at a compounded annual growth rate (CAGR) of 4.8% during the forecast period from 2018 to 2026. As per the statistics provided by World Health Organization (WHO), in 2018 approximately 2.09 million people died due to lung cancer. Tobacco smoking is the leading causes of formation of malignant tumours and neoplasms in the lungs. Interventional pulmonology is a relatively new field which has gained tremendous attraction in the last decade which employs sophisticated tools to perform diagnosis and treatment of various pulmonary disorders. Apart from pulmonologist cardiothoracic surgeons also routinely perform interventional pulmonology procedures.
Market Synopsis
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"Accurate diagnosis, precise sample collection and increasing number of lung complications drive the flexible bronchoscopy market growth"
Flexible bronchoscopy is dominating the procedure type segment for interventional pulmonology market. Flexible bronchoscopy is useful in diagnosing different stages of lung cancer, palliative care by debulking endobronchial lesions and treating in airway stenosis. Its inherent features such as accurate diagnosis, precise sample collection and significant rise in lung complication together drive the flexible bronchoscopy market growth. Pleuroscopy is gaining huge demand as an alternative to video assisted thoracoscopic surgery (VATS) which is employed for the diagnosis of pleural effusion of unknown etiology. It is a minimally invasive surgical procedure and has successfully achieved 100% accurate diagnosis of tuberculous effusion. It is relatively well tolerated procedure with negligible complications.
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"Rising prevalence of lung cancer and growing health awareness together drive the market growth in North America"
In the current scenario North America is dominating the regional segment for interventional pulmonology market. The factors responsible for its market share of 35% are rising prevalence of lung cancer and growing health awareness. According to American Lung Association (ALA) in 2018, 234,030 new cases of lung cancer were diagnosed in the United States which represents 13% of all diagnosed cancer. Europe holds 30% market share owing to the significant rise in air pollution and tobacco smoking. Stringent norms related to early diagnosis and medical intervention drive the interventional pulmonology market growth in European region. Asia Pacific is representing 15% market share on account of increasing establishment of subsidiaries and retail outlets of major players such as Boston Scientific Corporation, Karl Storz, Medtronic, Plc., and Terumo Corporation etc. Supportive regulatory environment provided by regional healthcare bodies further bolster the market growth in Asia Pacific region.
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Historical & Forecast Period
This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments are calculated for the forecast period from 2018 to 2026.
The market is segmented by procedure and by geography.
ATTRIBUTE | DETAILS |
---|---|
Research Period | 2017-2027 |
Base Year | 2018 |
Forecast Period | 2019-2027 |
Historical Year | 2017 |
Unit | USD Billion |
Segmentation |
By Procedure (2016–2026; US$ Mn) |
Geography Segment (2016–2026; US$ Mn) |
Medical device companies competing in interventional pulmonology market are Boston Scientific Corporation, BTG, Plc., Ethicon, Inc., ENDO-FLEX GmbH, HealthTronics, Inc., Karl Storz, Medtronic, Plc., Pulmonx, Inc., Terumo Corporation and Varian Medical Systems, Inc.