Interventional pulmonology novel field in pulmonary medicine. Interventional pulmonology utilizes endoscopy and other tools to diagnose and treat conditions in the lungs and chest.These procedures may be offered by pulmonologists (lung specialists) who have undergone extra training. In addition, these procedures may be offered by pulmonologists (lung specialists) who aretrained professionals. Cardiothoracic and other surgeons regularly perform interventional pulmonology procedures. The interventional pulmonology include, Bronchoalveolar lavage is performed during bronchoscopy.
Sterile water is injected through the bronchoscope into a segment of the lung, Biopsy of lung or lymph node, Airway stent (bronchial stent), balloon bronchoplasty, rigid bronchoscopy, bronchoscopicthermoplasty and other such procedures.Interventional pulmonology procedures offer the likely advantage of avoiding more invasive surgery. For example, before interventional pulmonology, biopsy of lymph nodes in the chest required chest wall surgery. Interventional pulmonology uses endoscopy and other tools to diagnose and treat conditions in the lungs and chest.
The global Interventional pulmonology market is expected to grow at a CAGR of around 9.1% over the period of next 5 years.
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The growth of this market is attributed towards major factors such asrise in the number of chronic respiratory diseases, surge in the investment by the major companies, surge in aging population, improvement in product, rise in demand for surgical procedures and surge in the number of patients suffering from respiratory disordersis expected to help the industry gain traction during the forecast period. Furthermore, surge in the number of chronic diseases, rise in the funding by governments, surge in the demand for surgeries in a hospital-based environment and improvement in the quality of care for patients suffering from diseases related to lungs is propelling the market growth during forecast period. Increase in number of product launches fueling the growth of the Interventional pulmonologymarket in the coming years.
Furthermore, the advent of COVID-19, which is a respiratory disorder, has led to a huge increase in the demand of Interventional pulmonology. The increase in the incidences of COVID-19 has led to the increase in number of professionalsduring the stipulated lockdown due to advent of COVID-19 during the forecast period.
Surge in geriatric population who have weaker immune system would propel the growth of the industry in the coming years. Increase in susceptibility of geriatric population for diagnostic procedure would help the Interventional pulmonologymarket to generate higher revenue in the coming years. According to the statistics given by World Health Organization in 2018, between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. By 2050, the world’s population aged 60 years and older is expected to total 2 billion, up from 900 million in 2015. This growth in geriatric population will boost the growth of the interventional pulmonology industry.
INTERVENTIONAL PULMONOLOGY MARKET SEGMENTATION:
- Electromagnetic Navigation Bronchoscopy (ENB)
- IP Diagnostic Devices
- IP Therapeutic Devices
- Lung Cancer
- Foreign Body Extraction
- Tracheal and Bronchial Stenosis
By End User:
- Pulmonology Clinics
- Ambulatory Surgical Centers
- Diagnostic Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
The North American region held the largest share in the Interventional pulmonology market in the past years and is expected to continue to remain at the top in the coming years. The growth in this region can be attributed to factors such asthe increasing per capita income in combination with the rise in healthcare expenditure. Furthermore the surge in geriatric population, susceptible to develop infections is anticipated to help the industry gain traction. In addition,improvements in healthcare policies in the region also contribute to the region’s market growth. The U.S is found to be the major contributor to the region, due to the presence of patient population for Interventional Pulmonology.
The Asia Pacific region is the fastest growing regional market for Interventional pulmonology. This region is anticipated to maintain its growth rate in the coming years.The surge in presence of major players in the region and the rise in expenditure on the development of healthcare infrastructure in the region will propel the market growth during the forecast period. The rapid development of the healthcare infrastructure in the region,and therise in awareness regarding the use of Interventional pulmonologyin the region. Furthermore, the rising disposable incomes of people and the rapid industrialization in the major economies of the region also effectively contribute to the region’s market growth. The major contributors in the region include India and China, owing to the higher number of patient population. There is a steep growth in the demand for surgeries, particularly in the developed nations. This led to rapid rise in the growth of Interventional pulmonologyMarket. Growth in the number of ambulatory surgery centers is also estimated to enhance the growth of the Interventional pulmonologyMarket. Improvements in healthcare policies in various countries such as the Japan have caused rising affordability for various diagnostic and treatment services, which, in turn, has led to the surge in adoption for procedures for their treatment.
COPD and asthma patients are common in emerging economies such as China, India, Brazil, Mexico, and South Africa. COPD patients frequently require breathing assistance. Asthma prevalence is high in Asian nations such as China, India, Indonesia, Malaysia, and Thailand. However, the majority of people are left undiagnosed and untreated, which is focused by healthcare organizations to cope up with the growing numbers.
FEW KEY PLAYERS IN INTERVENTIONAL PULMONOLOGY MARKET:
- ENDO-FLEX GmbH
- Fujifilm Corporation
- KARL STORZ SE & Co. KG
- Argon Medical
- Body Vision Medical Ltd.
- Boston Scientific Corporation
- C. R. Bard, Inc. (Becton, Dickinson and Company)
- CONMED Corporation
- Olympus Corporation
- Pennine Healthcare
- PENTAX Medical
- Pulmonx Corporation
- Richard Wolf GmbH
- Rocket Medical plc.
- In January 2017, Pentax Medicine had acquired C2 Therapeutics, U.S. to expand its interventional endoscopy offerings in the U.S., and provide aftersales and repair services. This acquisition will help the interventional pulmonology market generate higher revenue during the forecast period.