The interventional pulmonology market will grow thanks to mobile applications

the Interventional pulmonology market is expected to grow at a remarkable rate during the forecast period. Vital signs monitoring, in combination with wearable devices, facilitates symptom recording as well as 24/7 education. Wearable dongles are also being made available to be connected to smartphones to measure biomarkers of chronic diseases. This monitoring is more cost-effective and convenient compared to in-person care. This trend would be prevalent in the healthcare vertical in the future.

Interventional pulmonology is a field of pulmonary medicine that specifically deals with minimally invasive endoscopic and percutaneous procedures for the diagnosis and treatment of neoplastic and non-neoplastic diseases of the airways, lungs, and pleura. Rising COPD cases worldwide are expected to drive demand over the next few years.

The need for faster recovery time and reduced pain during procedures and surgeries for respiratory disorders has bolstered the market. Major manufacturers of interventional pulmonology devices are focusing on geographic expansion to increase revenue and add new repair and service centers in emerging countries through the acquisition of local players.

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Various awareness programs have been initiated by healthcare providers and healthcare organizations/companies, such as environmental programs, medication maintenance programs, and online education programs for the public and healthcare professionals. health around the world to control asthma, COPD and other respiratory diseases. Major companies such as Boston Scientific Corporation, Olympus Corporation, and FUJIFILM Corporation, among others, focus on raising awareness of respiratory diseases.

According to Persistence Market Research analysis, the global interventional pulmonology market is expected to grow at a CAGR of over 4% over the forecast period (2021 – 2031).

Main lessons of the study

IP diagnostic devices are expected to hold maximum revenue share under products.
Lung cancer is expected to be the dominant segment among indications, in terms of revenue. The segment accounted for 26.6% share in 2020.
The United States, followed by Europe, is expected to hold a substantial share of the global interventional pulmonology market revenue.
Emerging economies such as China, India, Brazil, Mexico, and South Africa have a large pool of COPD patients, and increasing the disposable income of patients with increased healthcare expenditures would encourage manufacturers of interventional pulmonology devices to penetrate these markets.
The interventional pulmonology space has been adversely affected due to the COVID-19 crisis due to supply chain disruptions and the economic impact of the pandemic on small and medium businesses.
Hospitals and diagnostic centers represent the bulk of the market share (around ¾).

“The increasing global prevalence of various respiratory diseases has increased the demand for effective diagnosis and treatment to better manage the rate of progression of these diseases,” says an analyst from Persistence Market Research.

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Acquisitions of small and medium players – Imperative strategy for market players

Considering the consolidation of the market, the big players are focusing on acquiring small and medium players in the market. This trend is seen across North America and Europe. This is dominated by players with a strong regional presence in distribution in terms of direct sales force and manufacturing of medical ventilation products.

Companies

Medtronic SA
Boston Scientific Society
Olympus Society
FUJIFILM Company
Becton, Dickinson and company
Smiths Plc Group
Medical cook
Vygon
Clarus Medical LLC
Huger Medical Instrument Co.Ltd
Taewoong Medical Co. Ltd.
Shanghai AoHua Endoscope Photoelectricity Co.,Ltd
Karl Storz
Richard Wolf Society
PENTAX Medical

What else is in the report?

Persistence Market Research offers actionable insights and a unique perspective on the Interventional Pulmonology Market in its latest study, presenting a historical demand assessment from 2016 to 2019 and projections for 2021 to 2031, based on product (Navigation Bronchoscopy (ENB), IP diagnostic devices, IP therapeutic devices), the indication (asthma, lung cancer, COPD, foreign body extraction, tracheal and bronchial stenosis) and the end user (hospitals, pulmonology clinics, centers ambulatory surgery, diagnostic centres), in seven key regions of the world.

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