Interventional pulmonology market to reach USD 6.9B by 2031

According to a new report published by Allied Market Research, titled, “Interventional pulmonology market,” The interventional pulmonology market size was valued at $3.7 billion in 2021, and is estimated to reach $6.9 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.

Interventional pulmonology is a medical subspecialty that diagnoses and treats lung diseases using minimally invasive techniques. Bronchoscopy, thoracoscopy, and other procedures that allow the doctor to see inside the lungs are examples of these techniques. These techniques can also be used by interventional pulmonologists to remove tumors or lesions from the lungs, treat airway obstruction, and improve pulmonary function.

The use of minimally invasive surgical methods, such as bronchoscopy and thoracoscopy, has grown in recent years. These procedures lower the risk of surgical complications and allow for faster patient recovery. The development of new medications and therapies for respiratory disorders has had a substantial influence on the interventional pulmonology market share. For example, the use of biological treatments, such as monoclonal antibodies, has become increasingly prevalent in the treatment of diseases such as asthma and chronic obstructive pulmonary disease (COPD). Technology advances are also predicted to have a significant impact on the growth of the interventional pulmonology market share during the forecast period, resulting in improved patient outcomes and an increase in demand for interventional pulmonology services.

However, some of the disadvantages of interventional pulmonology include its certain unfavorable properties such as the high cost of interventional pulmonology treatment. Limited access to the latest technologies and advancements in pulmonology is expected to hamper the market growth. Several patients may not have access to state-of-the-art diagnostic tools, such as CT scans or pulmonary function tests, which can delay or prevent accurate diagnoses and effective treatments. In many rural or remote areas, there is a shortage of trained healthcare professionals, which can make it difficult for patients to access specialized medical care.

Furthermore, an increase in funding for the R&D of new drugs, a rise in pollution due to rapid industrialization, and an increase in the number of smokers are some of the reasons anticipated to lead to a rise in the prevalence of lung cancer. Lung cancer (both small cell and non-small cell) is the second most common cancer in both men and women, according to the American Cancer Society 2022. Lung cancer is the leading cause of cancer death in both men and women, accounting for nearly 25% of all cancer deaths.

Furthermore, while the disease remains the leading cause of cancer deaths among both men and women, the survival rate has increased by 14.5% nationally over the last five years, according to the American Lung Association’s 2021 report. Therefore, all of these factors have contributed to the interventional pulmonology market size expansion. Additionally, this presents a significant opportunity for companies in the interventional pulmonology market. As these treatments become more widely adopted, there is an increase in demand for high-quality, innovative products that can help patients manage their conditions and improve their quality of life. These factors are anticipated to boost the market growth in the upcoming years.

The interventional pulmonology market is segmented on the basis of product, indication, end user, and region. By product, the market is classified into bronchoscopes, electromagnetic navigation bronchoscopy system, pleuroscopes, respiratory endotherapy devices, airway stents, pleural catheters, endobronchial valves, and bronchial thermoplasty systems. By indication, the market is divided into asthma, COPD, lung cancer, tracheal and bronchial stenosis, and others. By end user, the market is classified into hospitals, ambulatory surgical centers, diagnostic centers, specialty clinics, and others. By region, the interventional pulmonology market analysis across North America, Europe, Asia-Pacific, and LAMEA. Allied Market Research