Industry Outlook

The interventional pulmonology market is set to grow at a compounded annual growth rate (CAGR) of 4.8% during the forecast period from 2023 to 2030. As per the statistics provided by World Health Organization (WHO), in 2019 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.

"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.

"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 2019, 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.

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.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Interventional Pulmonology market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Interventional Pulmonology market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Interventional Pulmonology market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Interventional Pulmonology market?
• Which is the largest regional market for Interventional Pulmonology market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Interventional Pulmonology market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Interventional Pulmonology market worldwide?