Global Interventional Pulmonology Market: Overview
Interventional pulmonology is a branch of medical science that deals with minimally invasive medical procedures carried out under image guidance by interventional pulmonologists for the diagnosis, treatment, and palliation of different types of pulmonary disorders. Interventional pulmonology procedures involve usage of different image guided techniques such as computed tomography, fluoroscopy, and ultrasound to diagnose and treat the specific site affected with pain or cancer. Interventional pulmonology procedure is most commonly performed with other cancer treatments such as surgery, chemotherapy, and radiation therapy. These procedures offer several advantages such as quicker recovery, shorter hospital stay, minimal side effects, and more precise and accurate treatment compared to other therapeutic procedures.
Global Interventional Pulmonology Market: Trends and Opportunities
The global interventional pulmonology market is primarily driven by high prevalence and increase in incidence rates of lung cancer across the world. Lung cancer is one of the leading causes of death globally. According to the World Health Organization (WHO), lung cancer accounted for 2.9 million deaths in 2018. Moreover, increase in incidence rates of chronic obstructive pulmonary disorders, airway strictures, and amyloidosis across the world is projected to boost the growth of the global interventional pulmonology market during the forecast period. Furthermore, advantages of minimally invasive surgical procedures, technological advancements in interventional pulmonology, and increase in government funding for oncology procedures are anticipated to fuel the growth of the global market during the forecast period.
Global Interventional Pulmonology Market: Segmentation
The global interventional pulmonology market can be segmented based on procedure, indication, and region. In terms of procedure, the market can be divided into tumor debulking, endobronchial brachytherapy, endobronchial stenting, photodynamic therapy, and others. Tumor debulking procedure refers to the removal of tumor growing within the airway lumen endoscopically either by heating, freezing, vaporizing, or simply by resecting the tumor by with biopsy. Different techniques such as endoscopic laser resection, electrocoagulaion, and cryotherapy have been used for the removal of the tumor. Endobronchial brachytherapy procedure involves administration of high dose radiotherapy through the catheter at the surgical site in the airway. Endobronchial stenting procedure involves the placement of stents to relieve the symptoms of airway obstruction. Different types of metallic as well as silicone stents are currently available in the market and demand for these stents is increasing. Based on indication, the global interventional pulmonology market can be classified into lung cancer, chronic obstructive pulmonary disorder (COPD), carcinoid tumors, airway strictures, amyloidosis, tuberculosis, and others. The lung cancer segment is projected to dominate the global market from 2018 to 2026 owing to significant burden of lung cancer across the globe.
Global Interventional Pulmonology Market: Regional Analysis
Geographically, the global interventional pulmonology market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are anticipated to account for major shares of the global market due to large population afflicted with chronic lung cancer, chronic obstructive pulmonary disorders, airway stricture, and airway related disorders. Moreover, significant adoption of minimally invasive surgeries for the effective management of airway disorders, well-established health care infrastructure, and early adoption of technologically advanced interventional pulmonology products are likely to fuel the growth of the market in these regions during the forecast period. The interventional pulmonology market in Asia Pacific is expected to expand at a high CAGR during the forecast period due to rise in prevalence of cancer in the highly populous countries of India and China, rapidly changing health care systems, various government initiatives to improve overall health care, and increased per capita health care expenditure. Moreover, rise in investments by leading global interventional pulmonology devices companies in the region is likely to contribute to the growth of the market in Asia Pacific during the forecast period.
Global Interventional Pulmonology Market: Companies Mentioned
Key players operating in the global interventional pulmonology market include Boston Scientific Corporation, Medtronic plc, Terumo Corporation, BTG plc, AngioDynamics, Inc., Ethicon, Inc. (Johnson & Johnson), Merit Medical Systems, Inc., Eckert & Ziegler BEBIG, Varian Medical Systems, Inc., HealthTronics, Inc., Röchling Group, Pulmonx, Inc., EndoChoice, Inc., ENDO-FLEX GmbH, and Karl Storz.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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