Interventional Pulmonology Market is Expected to Generate Huge Profits by 2024

Globally lung cancer is the leading cause of cancer related death. According to the American cancer society’s estimates in the U.S. for lung cancer in 2016, there were 224,390 new cases of lung cancer and around 158,080 deaths from lung cancer. Lung cancer is more in men as compared to the women. Survival rate for patients suffering from lung cancer is much higher when diagnosed at early stage. Interventional pulmonology is a novel area in pulmonary medicine that focuses on advanced diagnostics and therapeutic techniques which is been used for treating lung cancer patients. It is performed using endoscopy and other equipment to diagnose and treat lung and chest conditions. These procedures are performed by cardiothoracic and other medical surgeons.

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Interventional pulmonology procedures are much safer and requires a shorter recovery time as compared to the patients who undergo surgeries. There are different types of interventional pulmonology procedures such as flexible bronchoscopy which is the most common procedure that is being performed. Apart from this Bronchoalveolar lavage, Biopsy of lung or lymph node, Airway stent (bronchial stent), Balloon bronchoplasty, rigid bronchoscopy, Foreign body removal, Pleuroscopy, and others. The Interventional Pulmonology market is driven by increasing incidence and prevalence of lung cancer.

According to the Cancer research UK, lung cancer is the second most common cancer in the U.K., every year there are about 43,500 people are diagnosed in the U.K. tobacco smoking causes 8 out of 10 cases counting a small proportion caused by passive smoking. Tobacco smoke contains over 7,000 harmful chemical compounds. According Centers for Disease Control and Prevention (CDC), every year tobacco smoking kills more than 480,000 Americans and more than 41,000 of these deaths from passive smoking. Lung cancer is mostly caused due to smoking, there are other risk factors as well such as exposure to radon gas, air pollution, exposure to certain harmful chemicals, and others. Above mentioned are some of the leading causes of preventable death.

In addition to this and rising healthcare expenditure and government initiatives it is expected to fuel the interventional pulmonology market over the forecast period. Moreover factors such as patient education program (PEP) that are conducted by companies for creating the awareness among the general population is likely to drive the growth of interventional pulmonology market over forecast period.

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However interventional pulmonology market has some restraints such as cost of treatment and low awareness for the benefits for these procedures is expected to hinder the growth of the interventional pulmonology market.

The global interventional pulmonology market is segmented on the basis of end user and regional presence: Segmentation based on End User: Hospitals, Clinics, Ambulatory Surgical Centers, Research Institutes.

Factors such as passive exposure to tobacco smoke can lead to lung cancer, also rising incidence of lung cancer is expected to boost the interventional pulmonology market over the forecast period. In addition rising awareness among general population and physician performing interventional pulmonology procedures is expected to drive the interventional pulmonology market during the forecast period.

Geographically the interventional pulmonology market is segmented into five key regions: North America, Latin America, Europe, Asia Pacific and MEA region.

North America followed by Europe is dominating the interventional pulmonology market as high incidence of lung cancer cases and high prevalence of tobacco smoking. Apart from these interventional pulmonology procedures are becoming more popular and preferred choice of treatment in the U.S. by surgeons and cardiothoracic as they have better efficacy. In Asia Pacific region the interventional pulmonology market is expected to deliver significant growth owing to the fact that China accounts for 42% globally for cigarette production and is the largest manufacturer for tobacco. According to World Health Organization (WHO), China comprises majority of the world’s smoking population. Above mentioned factors are expected to boost the demand for interventional pulmonology products over the forecast period.

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Some of the companies in the interventional pulmonology market are Pulmonx., Boston Medical Products, Inc, ENDO-FLEX GmbH, CSA Medical Inc. EndoChoice, Inc. Karl Storz and others