Interventional Pulmonology Market Expected to Reach $6.9 Billion by 2031 | CAGR 6.7%

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.

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

Huger Medical Instrument Co. Ltd, Medtronic Plc, Boston Scientific Corporation, Olympus Corporation, FUJIFILM Corporation, Becton, Smith’s Group Plc, Cook Medical, Vygon, and Clarus Medical LLC.

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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.

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