Global Interventional Pulmonology Market, by Product Type (Bronchoscopes, Electromagnetic Navigation Bronchoscopy Systems, Pleuroscopes, Respiratory Endotherapy Devices, Airway Stents, Pleural Catheters, Endobronchial Valves, and Bronchial Thermoplasty Systems), By Indication (Asthma, Chronic Obstructive Pulmonary Disease, Lung Cancer, Tracheal & Bronchial Stenosis, and Others), By End User (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, and Surgical Clinics), and By Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa) is estimated to be valued at US$ 3,535.3 Mn in 2021 and is expected to exhibit a CAGR of 5.4% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Key players in the market are focusing on growth strategies such as product launch, which is expected to propel growth of the global interventional pulmonology market over the forecast period. For instance, in January 2019, Olympus Corporation a global leader in medical technology has announced the market availability of its FDA approved Spiration Valve System (SVS) for the treatment of severe emphysema, a progressive form of Chronic Obstructive Pulmonary Disease (COPD).
Global Interventional Pulmonology Market– Impact of Coronavirus (COVID-19) Pandemic
Governments and government agencies globally are taking various initiatives to combat the spread of COVID-19. For instance, in May 2020, the Centers for Disease Control and Prevention started working with the All-of-Government and All-of-America approach to increase testing capacity, improve case detection, and contact tracing across all the U.S. states and re-open the country. The various leading pharmaceutical and technological companies were collaborating with the U.S. government for faster clinical development of the vaccines for prevention of the COVID-19 infections in the U.S. For instance, in July 2020, IQVIA, a clinical service company, and Astra Zeneca, a pharmaceutical company, announced the collaboration with the U.S. government for Operation Warp Speed project. Operation Warp Speed is part of a broader strategy to accelerate the development, manufacturing, and distribution of COVID-19 vaccines, therapeutics, and diagnostics. The specific IQVIA and AstraZeneca collaboration will drive faster delivery of clinical studies in the U.S. aimed at demonstrating efficacy of AstraZeneca’s potential COVID-19 vaccine, AZD1222.
Browse 27 Market Data Tables and 31 Figures spread through 188 Pages and in-depth TOC on “Global Interventional Pulmonology Market”- Forecast to 2028, Global Interventional Pulmonology Market, By Product Type (Bronchoscopes, Electromagnetic Navigation Bronchoscopy Systems, Pleuroscopes, Respiratory Endotherapy Devices, Airway Stents, Pleural Catheters, Endobronchial Valves, and Bronchial Thermoplasty Systems), By Indication (Asthma, Chronic Obstructive Pulmonary Disease, Lung Cancer, Tracheal & Bronchial Stenosis, and Others), By End User (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, and Specialty Clinics), and By Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Interventional Pulmonology Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/interventional-pulmonology-market-4768
Moreover, increasing prevalence of lung diseases is expected to boost growth of the market over forecast period. For instance, according to an article published in National Center for Biotechnology Information (NCBI) in 2021, stated that the prevalence of emphysema in the U.S. is approximately 14 million, which includes 14% white male smokers and 3% white male nonsmokers. The prevalence is slightly less for white female smokers and African Americans.
Key Takeaways of the Global Interventional Pulmonology Market:
- The global interventional pulmonology market is expected to exhibit a CAGR of 5.4% during the forecast period, due to increasing health expenditure is expected to boost growth of the market. For instance, according to Centers for Medicare & Medicaid Services (CMS) Government, Health spending in the U.S. increased by 4.6% in 2019 to US$ 3.8 trillion or US$ 11,582 per capita. This growth rate is in line with 2018 (4.7%) and slightly faster than what was observed in 2017 (4.3%).
- Among indication, asthma segment is estimated to hold largest market share in global interventional pulmonology market over the forecast period. Increase in the prevalence of asthma is expected to drive the growth of segment over forecast period. For instance, according to data published in Asthma and Allergy Foundation of America in 2021, about 20 million U.S. adults aged 18 years and older have asthma.
- Among end user, hospital segment is estimated to hold dominant position in global interventional pulmonology market in 2021. Increasing in the prevalence of chronic obstructive pulmonary disease is estimated to drive the growth of the segment in 2021. For instance, according to an article published by PubMed in February 2021, the prevalence of chronic obstructive pulmonary disease was 16.2% by fixed ratio and 11.2% by lower limits of normal in Canada.
- Major players operating in the global interventional pulmonology market include Boston Scientific Corporation, Olympus Corporation, FUJIFILM Corporation, Becton, Dickinson and Company, Smiths Group plc., Cook Medical, Vygon, PENTAX Medical, Clarus Medical LLC, HUGER Medical Instrument Co., Ltd., Richard Wolf Corporation, Karl Storz, Taewoong Medical Co., Ltd, and ELLA – CS, s.r.o.
