Interventional Pulmonology Market

Interventional Pulmonology Market Study by Bronchoscopes, Respiratory Endotherapy Devices, ENB Systems, Pleuroscopes, Airway Stents, Pleural Catheters, and Endobronchial Valves from 2024 to 2034

Analysis of Interventional Pulmonology Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Interventional Pulmonology Market Outlook (2024 to 2034)

The interventional pulmonology market size is estimated to be valued at US$ 1,291.0 million in 2024. The market is predicted to register a CAGR of 4.0% through 2034. The market is forecasted to reach a valuation of US$ 1,901.9 million by 2034.

The last few years have experienced a tremendous surge in respiratory diseases. This has forced healthcare professionals to implement effective diagnosis methodologies, such as interventional pulmonology, to ensure patients receive timely and accurate assessments. This surge is also attributed to the growing awareness in the general population and the early detection of pulmonary diseases.

Interventional pulmonology treatments are used in various healthcare facilities, such as hospitals, ambulatory surgical centers, and clinics. These entities implement modern pulmonology technologies to ensure accurate diagnoses, personalized treatment plans, and improved outcomes for individuals with respiratory conditions. The demand for interventional pulmonology is also soaring due to ongoing advancements and research in this field.

The interventional pulmonology market generated an estimated revenue of US$ 1,216.0 million in 2019. The market grew at a 1.20% CAGR from 2019 to 2023.

Report Attributes Details
Estimated Market Value (2024E) US$ 1,291 million
Forecasted Market Value (2034F) US$ 1,901.9 million
Global Market Growth Rate (2024 to 2034) 4.0% CAGR
Bronchoscopes Segment Growth Rate (2024 to 2034) 33.10%
Hospital Segment Growth Rate (2024 to 2034) 43.6%
North America Market Share (2024) 34.40%
East Asia Market Share (2024) 21.50%
Key Companies Profiled
  • Argon Medical
  • Body Vision Medical Ltd.
  • Boston Scientific Corporation
  • C. R. Bard, Inc. (Becton, Dickinson and Company)
  • CONMED Corporation
  • Cook
  • ENDO-FLEX GmbH
  • Fujifilm Corporation
  • KARL STORZ SE & Co. KG
  • Medtronic
  • Olympus Corporation
  • Pennine Healthcare
  • PENTAX Medical
  • Pulmonx Corporation
  • Richard Wolf GmbH
  • Rocket Medical plc.
  • TAEWOONG
  • Vygon

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Which Factors are Driving Growth in the Interventional Pulmonology Market?

“Increasing Respiratory Diseases and Aging Population to Augment Demand for Interventional Pulmonology Treatments.”

The rising cases of chronic obstructive pulmonary disease (COPD), one of the leading causes of death globally, and other respiratory diseases are fueling the market growth. This has increased the demand for interventional pulmonology in the healthcare sector. The market is also stimulated by early detection and the urgent need for effective and timely interventions in such cases.

The world is facing another challenge in the form of a growing aging population, especially in countries such as China, Japan, Germany, etc. As individuals age, the risk of developing respiratory conditions, including chronic obstructive pulmonary disease (COPD) and other lung-related disorders, rises. This has further amplified the demand for interventional pulmonology treatments in these countries.

“Investments in Research in Interventional Pulmonology to Amplify Market Growth”

In countries like the United States, India, China, and Japan, healthcare entities, both public and private, are investing millions of dollars in medical research and development. This has facilitated world-class laboratories, diagnostic centers, and ambulatory surgical centers to actively adopt modern equipment for treating respiratory ailments. This is one of the main reasons for the growth of the interventional pulmonology market in developed and developing countries.

Apart from this, healthcare professionals are collaborating with government entities to set up testing camps and temporary diagnostic centers to promote awareness about respiratory diseases. This has exponentially expanded the consumer base for interventional pulmonology treatments. This collaboration has also enabled knowledge transfer and dissemination of skills in the healthcare community.

What are the Challenges Encountered by Interventional Pulmonology Market Players?

“Limited Awareness and Education High Initial Costs, and Technological Barriers to Slow down Market Growth”

One of the biggest restraints slowing down the market growth for interventional pulmonology is the limited awareness and education among the general population about the benefits and availability of interventional pulmonology procedures. Despite the efforts taken by governments and private healthcare facilities, there is still an observed knowledge gap, even among healthcare professionals. This is substantially hindering the market growth.

Initial costs associated with installing and implementing advanced interventional pulmonology technologies can be challenging for small clinics and hospitals with budget constraints. This upfront investment is keeping a considerable amount of clinics away from the market. Rapid technological advancements in this industry also lead to challenges in keeping up with the latest updates, particularly for smaller healthcare facilities.

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Country-wise Insights

The North American interventional pulmonology market is poised to expand at a CAGR of 3.60% through 2034. The surge is primarily attributed to the increasing demand for interventional pulmonology in key countries, notably the United States and Mexico. In 2024, the United States dominates the interventional pulmonology industry with an estimated 84.60% market share.

The East Asian interventional pulmonology market is anticipated to exhibit a 5.80% CAGR through 2034. In this region, China emerges as the key player in the industry, commanding a significant share of 39.30% in 2024.

Why is the United States Leading the Interventional Pulmonology Market in the North American Region?

“Advanced Healthcare Infrastructure and High Healthcare Expenditure in the Country”

Attribute Details
CAGR (2024 to 2034) 3.3%

The North American market stood at US$ 444 million in 2024, acquiring a revenue share of 34.40%, and is further projected to expand at a CAGR of 3.60% through 2034. The United States interventional pulmonology industry is estimated to be worth US$ 376 million in 2024. The demand for interventional pulmonology in the United States is projected to rise at a CAGR of 3.3% through 2034.

The United States of America is blessed with several drivers, making it the leading country in the interventional pulmonology market. The country has one of the most advanced and sophisticated healthcare ecosystems, with progressive medical facilities, laboratories, and diagnostic centers.

This supports the widespread adoption of innovative interventional pulmonology technologies, thus aiding market growth. Besides this, the US government spends billions of dollars on adopting modern medical technologies. This high healthcare expenditure to enhance patient care and outcomes amplifies market growth in the country.

Why is China Emerging as a Lucrative Market in East Asia?

“Disease Burden and Rising Medical Tourism”

Attribute Details
CAGR (2024 to 2034) 6.4%

The Chinese interventional pulmonology industry is estimated to be worth US$ 109 million in 2024, garnering a share of 39.3% of the East Asian market. The market is likely to record a CAGR of 6.4% through 2034.

China is home to one of the largest populations in the world. The sheer enormity of the population is enough to make it one of the leading markets in the East Asian region. Besides this, the country is also an international hub for medical tourism. Every year, millions of patients flock to the country for its world-class healthcare facilities.

This is one of the major reasons for the growth of the interventional pulmonology market in China. Also, China is dealing with the problem of soaring aging population. This demographic chunk requires effective pulmonology facilities, thus augmenting market growth.

Category-wise Insights

Based on the product type, the bronchoscopes segment is predicted to hold a 33.10% of global interventional pulmonology market share in 2024. Simultaneously, the respiratory endotherapy devices segment is anticipated to secure a 30.20% share, contributing significantly to the market's resource diversity and stability.

Based on the end-user category, the hospital segment is expected to dominate the interventional pulmonology industry, with a share of 43.60% in 2024.

Why do Hospitals Rely on Interventional Pulmonology Solutions for Respiratory Diseases?

“Minimally Invasive Procedures and Precise Diagnostics”

Attribute Details
Market Share in 2024 43.60%

Hospitals form one of the significant end users in the interventional pulmonology market. Demand for accurate and precise diagnosis of a wide range of respiratory conditions, including lung cancer, chronic obstructive pulmonary disease (COPD), etc., is anticipated to generate more opportunities from the hospital segment.

As patients seek better healthcare facilities, hospitals seek advanced diagnostic tools. As a result, demand for bronchoscopy, navigational bronchoscopy, and endobronchial ultrasound (EBUS) is rising in hospitals.

Demand for interventional pulmonology is rising as patients seek minimally invasive procedures. In addition to this, these treatments are suitable for geriatric patients seeking minimal invasiveness over traditional surgeries. Better patient outcome is also one of the key factors driving the demand for interventional pulmonology in hospitals. Demand for such procedures is rising, owing to its attributes of causing relatively lesser patient trauma, postoperative pain, and better recovery times.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Competitive Landscape

Based on the study, the global interventional pulmonology market consists of numerous players, including ENDO-FLEX GmbH, Cook, CONMED Corporation, Boston Scientific Corporation, Body Vision Medical Ltd., Argon Medical, etc.

The fierce competition in the interventional pulmonology market stems from the extensive research and development efforts that spark innovation. Key market players forge partnerships with key end users, including diagnostic centers, ambulatory surgical centers, and hospitals. On the contrary, small and mid-sized companies focus on launching new features and enhancing their product features.

Recent Developments

  • Fujifilm India expanded its endoscopy solutions with the compact ultrasonic probe system, PB2020-M2. Unveiled at the 3rd Annual Interventional Pulmonology Conference in Hyderabad, attended by pulmonologists from 18 countries.
  • Mercy Medical Centre in Baltimore expanded its Lung Centre to provide interventional pulmonology (IP) services. The addition doubled the centre’s size, offering enhanced access for pulmonary patients. On January 2, 2024, the centre also became the first in Maryland to introduce new integrated robotic lung navigational technology.
  • In September 2023, AtlantiCare's Lung Nodule Clinic's interventional pulmonologists reported significant clinical ROI with an artificial intelligence-aided detection system. AI expedited lung cancer patients' journey from discovery to treatment.

Segmentation of the Interventional Pulmonology Market

  • By Product Type :

    • Bronchoscopes
      • Flexible Bronchoscopes
      • Endobronchial Ultrasound Bronchoscopes (EBUS)
    • Electromagnetic Navigation Bronchoscopy Systems
    • Pleuroscopes
    • Respiratory Endotherapy Devices
      • Aspiration Needles
      • Biopsy Forceps
      • Biopsy Brush
      • Biopsy Needles
      • Catheter
      • Pulmonary Catheter
      • Balloon Dilatation Catheter
      • Others
    • Airway Stents
    • Pleural Catheters
    • Endobronchial Valves
    • Bronchial Thermoplasty Systems
  • By Indication :

    • COPD
    • Asthma
    • Lung Cancer
    • Tracheal & Bronchial Stenosis
    • Others
  • By End User :

    • Hospitals
    • Ambulatory Surgical Centers
    • Diagnostic Centers
    • Specialty Clinics
    • Other
  • By Region :

    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East & Africa (MEA)

- FAQs -

What was the Value of the Interventional Pulmonology Market in 2019?

The global interventional pulmonology market was worth US$ 1,216 million in 2019.

What is the Sales Outlook for Interventional Pulmonology in 2024?

The market for interventional pulmonology is likely to be valued at US$ 1291 million in 2024.

What is the Demand Forecast for Interventional Pulmonology by 2034?

The demand for interventional pulmonology procedures is projected to reach a market value of US$ 1,901.9 million by the end of 2034.

What is the Adoption Projection for Interventional Pulmonology Solutions?

The adoption of interventional pulmonology treatments is projected to rise at a CAGR of 4.0% through 2034.

At What Rate is the Market in North America Predicted to Grow?

The North American market for interventional pulmonology is forecasted to expand at a CAGR of 3.6% through 2034.

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