Newark, April 27, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the pulmonology lasers market will grow from USD 4.96 billion in 2022 and reach USD 13.23 billion by 2031. Pulmonology lasers are equipped with an ablation technique, thus providing a coagulation technique for treating lung-related complications. The growing incidence of lung cancer is expected to boost the market for pulmonology lasers.
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Key Insight of the Pulmonology Lasers Market
North America to account for the largest market size during the forecast period.
North America is expected to have the largest market share in the pulmonology lasers market. Key factors favouring the growth of the pulmonology lasers market in North America include the rise in the burden of cancer among the local population, with around 1.8 thousand cases alone in 2020. Lung cancer is one of the most prominent cancer types in the region. Regional agencies are investing hugely in laser technology, especially for cancer treatment. The U.S. has always been at the forefront of providing research and development facilities to medical equipment companies.
The photodynamic segment is expected to augment the market during the forecast period.
The laser-type segment is divided into photodynamic and neodymium-doped yttrium aluminium garnet. The photodynamic segment is expected to augment the market during the forecast period. A light source and light-sensitive drugs are used in photodynamic therapy to kill aberrant cells. The photodynamic laser is an efficient and approved treatment for many lung-related illnesses.
The haemorrhage segment is expected to augment the market during the forecast period.
The application segment includes haemorrhage, neoplasms, malignant lesions, tracheal stenosis, bronchogenic carcinoma, non-small cell lung cancer and benign tumours. The non-small cell lung cancer segment further includes cystic carcinoma, carcinoid, endobronchial metastases and mucoepidermoid carcinoma. The haemorrhage segment is expected to augment the market during the forecast period. Pulmonary haemorrhage is a potentially fatal illness that involves bleeding from the pulmonary or bronchial vasculature and is typically brought on by increased pressure in the bronchial system.
The academic and research institutions segment will likely grow at the highest CAGR during the forecast period.
The end-user segment includes academic and research institutions, hospitals and speciality care centres. The academic and research institutions segment will likely grow at the highest CAGR during the forecast period. Pulmonology lasers are a necessary tool used in academic and research institutions. They are also used for various analyses to get information about different microorganisms.
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Advancement in market
In December 2020, a significant player, Olympus Corporation, acquired Veran Medical Technologies, a known service provider in the pulmonology market. The objective of this acquisition was to widen its product portfolio. The acquisition was closed for around USD 340 million.
Market Dynamics
Driver: Improves chances of recovery
Pulmonology lasers have gained prominence in recent years due to their numerous attributes. Pulmonology lasers have been used to treat haemorrhage, neoplasms, malignant lesions, tracheal stenosis, bronchogenic carcinoma, non-small cell lung cancer, benign tumours, etc. An interventional pulmonologist's ability to manage significant airway blockage is crucial. During their illness, 30% of lung cancer patients experienced central airway involvement that resulted in bleeding, post-obstructive pneumonia, or respiratory distress. Pulmonology laser therapy is regarded as a palliative approach or a transitional therapy to the definitive treatment of cancer in the case of malignant airway blockage. For such presentations, the arsenal of pulmonology laser includes several ablative therapies, such as argon plasma coagulation, electrocautery, photo resection and cryotherapy.
Restraint: Costlier as compared to other treatment options
Pulmonology laser treatment is expensive, which leads to limited usage among patients. Further, as the maintenance of pulmonology lasers is costly, clinic executives and specialists will incur increased costs. Nd-YAG laser is less accessible than other modalities, such as bronchoscopic electrocautery.
Opportunity: Technical advancements
Current modalities are still being improved by further developments, including technological improvements, such as increased sensitivity and resolution, further software development for associated data processing and combinations of parameters. This will eventually increase scanning quality and improve diagnostics or the more comprehensive usability of particular pulmonology lasers. Pulmonology laser is an excellent example of a technology still entirely in development. Experts are still expecting significant progress in this area, for instance, as a result of the discovery and testing of, or experiments with, new tracers, enabling the broader use of pulmonology lasers. Thus, this factor will escalate the market growth and development in the present scenario.
Challenge: Lack of awareness
The pulmonology laser is not well-known in developing and underdeveloped countries of Asia-Pacific, the Middle East and Latin America. The use of pulmonology lasers in treating chronic lung diseases is not well known in the patient population in these countries. Furthermore, these regions have limited reimbursement due to a low healthcare budget and lack of infrastructure resources. This aspect determines the market's expansion in these areas.
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Some of the major players operating in the pulmonology lasers market are:
• Quanta System
• Richard Wolf
• Cook Medical
• Lumenis
• Olympus Corporation
• Edap Tms
• Cooltouch
• EMS
• Convergent Laser Technologies
• AMS
• Solar Laser Systems
• Jena Surgical
• Candela Medical
• Potent Medical
Key Segments Cover in the Market:
By Laser Type:
• Photodynamic
• Neodymium-doped Yttrium Aluminium Garnet
By Application:
• Haemorrhage
• Neoplasms
• Malignant Lesions
• Tracheal Stenosis
• Bronchogenic Carcinoma
• Non-Small Cell Lung Cancer
o Cystic Carcinoma
o Carcinoid
o Endobronchial Metastases
o Mucoepidermoid Carcinoma
• Benign Tumors
By End-user:
• Academic and Research Institutions
• Hospitals
• Speciality Care Centres
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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