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Interventional Pulmonology Market

Growing incidence of Chronic Obstructive Pulmonary Disease will drive the Interventional Pulmonology Market

Interventional Pulmonology Market Segmented By Product - Electromagnetic Navigation Bronchoscopy, IP Diagnostic Devices, IP Therapeutic Devices

Interventional Pulmonology Market Outlook (2023-2033)

Worldwide revenue from the interventional pulmonology market stands at US$ 1.2 Bn in 2022, with the global market estimated to surge ahead at a CAGR of 4.2% to reach a valuation of US$ 1.9 Bn by the end of 2033.

Interventional Pulmonology Market Size (2022)

US$ 1.2 Bn

Projected Market Value (2033)

US$ 1.9 Bn

Global Market Growth Rate (2023-2033)

4.2% CAGR

Market Share of Top 4 Countries

44.5%

As assessed by Persistence Market Research, hospitals segment is expected to hold a largest market value of US$ 546.6 Mn by 2023. Overall, interventional pulmonology market sales account for approximately 6.2% revenue share in the global respiratory devices market, which was valued at around US$ 19.5 Bn at the end of 2022.

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Sales Analysis of the Global Interventional Pulmonology Market from 2013 to 2022 Vs Market Outlook for 2023 to 2033

The global market for interventional pulmonology recorded a historic CAGR of 2.4% in the last 9 years from 2013 to 2022.

Chronic obstructive pulmonary disease (COPD) is a general term used to describe the chronic, progressive condition of lung disorders such chronic bronchitis and asthma. According to WHO, 3.23 million individuals died from chronic obstructive pulmonary disease (COPD), which is the third most common cause of death globally, in 2019. Nearly 90% of COPD-related deaths in people under the age of 70 actually occur in low- and middle-income nations. Increased COPD instances will ultimately lead to increasing demand for interventional pulmonary operations, which will lead to market growth.

The majority of COPD cases, according to statistics from the American Lung Association, are brought on by smoking cigarettes. COPD rates are 7 times greater among current smokers and 5 times higher among past smokers when compared to newer smokers. Numerous lung problems will be caused by consumption of tobacco and nicotine-based smoking products in the general population. As a result, there will be a greater need for interventional pulmonary procedures as patients seek diagnosis and treatment options for lung illnesses, ultimately resulting in market expansion.

The number of people with respiratory disorders and other associated conditions is growing along with the elderly population. The demand for interventional pulmonary procedures for diagnosis and treatments is growing as a result of alleviated average life expectancy, which has led to an increase in the proportion of individuals over 65. As the number of patients with lung disorders rises particularly in this age group, there will be an increase in the demand for interventional pulmonary procedures, which will help the market expand over time.

The global market is thus likely to show high growth over the coming years at a CAGR of 4.2% and reach a global market size of US$ 1.9 Bn by 2033.

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What Factors Will Drive the Market to Grow Over Forecast Period?

Increasing Healthcare Spending and Improving Healthcare Infrastructure

The adoption and use of advanced medical devices in healthcare facilities like hospitals would be supported by improved healthcare infrastructure and increased healthcare expenditures by the relevant public bodies. The need for interventional pulmonology would rise as a result. India, Brazil, and Mexico are examples of emerging economies with high COPD patient populations. Patients with COPD frequently need respiratory assistance. Due to the significant demand for the treatment of respiratory disorders in these countries, interventional pulmonology devices manufacturers have a great opportunity. Growth in patient disposable income and economic development in these emerging economies will help to secure the market's long-term viability.

Advancement in Technology”

The use of advanced unreactive materials, such as silicon coating. To prevent microbial film formation on bronchoscopes, manufacturers are also including anti-microbial coatings. Bronchoscopes are made using an extra-thin manufacturing process that uses higher-resolution cameras as part of the product development strategy by manufacturers. These technological advancements in the devices will result in better outcomes of the interventional pulmonary procedures, consequently, uplifting the market.

  • In order to reduce stress and fatigue of the practitioner, manufacturers have developed insertion tubes that can be easily rotated to a large degree. One of the tactics used by the producers is the miniaturization of the endoscopic equipment, they have begun offering ultra-slim designs for the observation of the thin bronchi.

“Rising Demand for Improved Bronchoscopy Technique”

The growth of the global market is also a result of bronchoscopy's technological developments. The development of bronchoscopy techniques has been accelerated by developments in electronics and micro technology. The earlier and safer diagnosis of lung disorders made possible by bronchoscopy's technological advancements has led to better patient outcomes. As a result, the demand for improved bronchoscopy techniques will cause the global interventional pulmonary market to grow throughout the course of the forecast period.

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Is there Any Impact on the Growth of the Interventional Pulmonology Market?

Lack of Awareness Regarding Symptoms of Asthma & COPD”

The vast majority of individuals with respiratory illnesses suffer undetected and untreated as a result of the lack of awareness about the symptoms of asthma and COPD. This is a significant factor impeding the market for interventional pulmonary. Majority of the COPD-related deaths occur in low-income countries, and the majority of people with COPD symptoms are unaware of such conditions due lack of awareness.

“Availability of Non-Invasive Options and Strict Rules”

The development of non-invasive diagnostic techniques like liquid biopsies and magnetic resonance spectroscopy, among others, is inhibiting market expansion. The market is being hampered by laws that are becoming more stringent, such as post marketing approval. An average of three to seven years is needed to bring a product to market. Pre-market approval (PMA), the most stringent procedure required for device approval by the FDA, is necessary for Class III devices. Due to the much higher risks to patients, such devices require clinical evidence to warrant the application. Thus, the market is being hampered by the increasingly strict rules.

“Associated Side Effects of Bronchoscopy Procedures”

The risks associated with bronchoscopy procedures such as contamination and post-bronchoscopy infection are reducing adoption rates. Additionally, limiting the market are the bronchoscopy complications, which include bleeding, breathing difficulties, and low blood oxygen levels during the examination. The advent of methicillin-resistant staphylococcus aureus and other resistant bacteria has led to an increase in the likelihood that a patient would develop a post-bronchoscopy infection.

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Country-wise Insights

Why is the U.S. Market Booming?

“Increasing Prevalence of Asthma”

The U.S. accounted for around 90.7% market share in the North America interventional pulmonology market in 2022.

According to the Asthma and Allergy Foundation of America, there are around 25 million asthma patients in the U.S. This corresponds to about 1 in every 13 individuals. Over 20 million U.S. citizens aged 18 and over suffer with asthma. Adult females are more likely than adult males to have asthma. Asthma affects more than 6.1% of adult males and 9.8% of adult females. Additionally, it is the most common chronic disease in children. There are roughly 5.1 million asthmatic children under the age of 18. It is anticipated that these statistics would increase demand for interventional pulmonology procedures.

Will Germany Be a Lucrative Market for Interventional Pulmonology Manufacturers?

“Rising Cases of COPD”

With a 18.3% market share, Germany dominates the market in Europe.

Ten to twelve percent of German adults over the age of forty are estimated to have COPD according to estimates. While there were 6.8 million COPD patients in Germany in 2010, it is predicted that by 2030 there would be 7.9 million patients. Additionally, smoking is a significant contributor to respiratory illnesses, and so does air pollution at work from chemicals and dust. In Germany, one of the most common prevalent disorder is COPD.

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

“Growing Geriatric Population”

China held a market share of about 52.8% of the East Asia interventional pulmonology market in 2022.

As per WHO estimates, one of the world's fastest-growing ageing populations is in China. Due to rising life expectancy and falling birth rates, 28% of China's population is expected to be over 60 by 2040. There will be a large number of elderly people suffering from health conditions including respiratory ailments due to the large geriatric patient pool, which will ultimately generate lucrative prospects for the industry to grow in the future.

Category-wise Insights

Which Product is Driving Growth of the Global Market?

“High Demand for Skin protection and Skin Barriers in Preventing Infections”

Bronchoscopes segment held around 33.8% share of the total interventional pulmonology market in 2022.

The use of bronchoscopes has drastically shifted from traditional invasive procedures to minimally invasive and sophisticated equipment. The improvement and development of bronchoscopes, including white-light, auto fluorescence (blue-light), navigational, and other types, is anticipated to be the main factors in dominance of the bronchoscopes as product segment. The bronchoscope has been developed recently as a result of technological advancements, and its potential applications have increased.

Which Indication Segment Has Dominated the Interventional Pulmonology Market Globally?

“Asthma – Most Common Chronic Disease Amongst Children”

Asthma has been leading this segment globally and contributed nearly 24.4% revenue share to the market global in 2022.

Asthma, a major noncommunicable disease (NCD) that affects both children and adults, is the most common chronic disease in children. Approximately, 455,000 people died from asthma in 2019 and an estimated more than 262 million people were affected by it, according to the WHO. As a result of these reasons, the indication sector's top segment is asthma.

Which End User Offers the Global Market a Profitable Outlook?

“Growing Awareness Regarding Available Interventional Pulmonology”

Home care Setting held the larger share of about 44.2% with a market value of around US$ 530.8 Bn in 2022.

Patients need post-operative care primarily at home after ostomy procedures since most people cannot afford the costs associated with extended hospital stays. Ostomy care is a lifetime necessity, and many patients choose home nursing care. As a result, the home care setting is dominating the market.

Competition Landscape

Due to industry consolidation, major players are focusing more on acquiring local and regional market players. This trend has been especially evident in the Asia-Pacific region. Big players in the acquisition space are players with sizable regional distribution networks in terms of direct sales force and equipped manufacturing facilities for interventional pulmonary treatment products.

Key instances include:

  • In Aug 2020, The BF-Q180 bronchoscope from Olympus Corporation was recalled because it failed a 510(k) clearance and was linked to a greater rate of patient infections than other bronchoscopes from Olympus Medical Systems Corporation.
  • In May 2020, the introduction of artificial intelligence, high definition image, and sophisticated data processing were few of the accomplishments and initiatives that Fujifilm Holdings Corporation announced in relation to the expansion of their endoscopy and endoscopic health portfolio.

Industry Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2013-2022

Market Analysis

USD Million for Value

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Turkey
  • GCC
  • North Africa
  • South Africa

Key Market Segments Covered

  • Product
  • Indication
  • End User
  • Region

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Key Companies’ Profile

  • 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

Customization & Pricing

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Key Segments Covered in Interventional Pulmonology Industry Research

Product:

  • Bronchoscopes
    • Fiberoptic (flexible) Bronchoscope
    • Rigid bronchoscope
    • Endobronchial Ultrasound Bronchoscope (EBUS)
      • Convex EBUS
      • Radial EBUS
  • Respiratory Endotherapy Devices
    • Aspiration Needles
    • Biopsy Forceps
    • Other
  • ENB Systems
  • Pleuroscopes
    • Semi flexible Pleuroscopes
    • Rigid Pleuroscopes
  • Airway Stents
  • Bronchial Thermoplasty Systems
  • Pleural Catheters
  • Endobronchial Valves

Indication:

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

End User:

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

Region:

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

- Companies Covered in This Report -

  • 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

- Frequently Asked Questions -

The global market is currently valued at around US$ 1.2 Bn in 2022.

Sales of the market are set to witness growth at a CAGR of 4.2% and be valued at around US$ 1.9 Bn by 2033.

Demand for the market increased at a 2.4% CAGR from 2013 to 2022.

U.S., Germany, Japan, and Australia accounted for the major share in the global market as of year 2022, holding around 44.5% market share.

The U.S. accounts for around 90.7% share of the North American market in 2022.

Latin America accounts for around 7.0% share of the global market in 2022.

The China market held a share of about 52.8% in the East Asia interventional pulmonology market in 2022.

Germany held about 18.3% of the regional market share at the end of 2022.

Brazil is estimated to grow at a CAGR of close to 2.0% over the forecast period.

India will expand at a CAGR growth rate of close to 6.0% over the forecast duration.

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