Interventional pulmonology is an area of pulmonary medicine that deals specifically with minimally invasive endoscopic and percutaneous procedures for the diagnosis and treatment of neoplastic as well as non-neoplastic diseases of the airways, lungs, and pleura. Rise in the number of COPD cases across the world is expected to boost demand over the coming years. Need for faster recovery time and reduced pain during procedures and surgeries for respiratory disorders has strengthened the market. Leading manufacturers of interventional pulmonology devices are focusing on geographical expansion to increase revenue and add new repair and service centres in emerging countries through the acquisition of local players. As per Persistence Market Research analysis, the global interventional pulmonology market is expected to exhibit a CAGR of more than 4% over the forecast period (2021 – 2031).
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The healthcare vertical is on the verge of shifting point-of-care services to a wider constellation of settings, inclusive of the patients’ own homes. This has, in turn, given rise to value-based payment methodologies. With far-flung patients getting an access to high-speed internet, digital care is becoming the cornerstone. On these grounds, One Medical, an IPO backed by Google, is turning out to be a benchmark with regards to digital-first primary care, wherein concierge service is offered on payment of annual fee.
This digitization is expected to empower the healthcare vertical across all the geographies in the near future. Persistence Market Research has its prodigal team in the form of consultants and analysts to keep a tab on the latest happenings in the healthcare vertical along with the probable calls to action.
Key Takeaways from Study
- IP diagnostic devices are expected to hold maximum revenue share under products.
- Lung cancer is projected to be the dominant segment among indications, in terms of revenue. The segment accounted for 26.6% share in 2020.
- The U.S., followed by Europe, is expected to hold substantial revenue share in the global interventional pulmonology market.
- Emerging economies such as China, India, Brazil, Mexico, and South Africa have a large COPD patient pool, and rising disposable income of patients with increased healthcare expenditure would encourage interventional pulmonology device manufacturers to enter these markets.
- The interventional pulmonology space faced adverse effects due to the COVID-19 crisis as a result of supply chain disruptions and economic impact of the pandemic on small- and medium-sized enterprises.
- Hospitals and diagnostic centers to account for bulk of the market share (around ¾).
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Acquisitions of Small & Medium Players – Imperative Strategy for Market Players
Given the consolidation in the market, bigger players are focusing on the acquisition of small and medium market players. This trend is being observed across North America and Europe. This is dominated by players with a strong regional distribution presence in terms of direct sales force and medical ventilator product manufacturing.
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