New York, USA, Feb. 07, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global bronchial thermoplasty catheter market is anticipated to garner a revenue of $5,416.8 million and grow at a CAGR of 4.99% over the estimated period from 2022 to 2031.
As per our analysts, with the rising pollution and the growing susceptibility of people to dust allergy worldwide, the bronchial thermoplasty catheter market is expected to experience a remarkable growth during the forecast timeframe. Moreover, the rising cases of asthma among children and adults all across the globe are predicted to create wide growth opportunities throughout the analysis period. However, the need for skilled operators and developed infrastructure in bronchial thermoplastic catheters may impede the growth of the market over the estimated period.
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Segments of the Market
The report has divided the bronchial thermoplasty catheter market into segments based on end-user and region.
End-User: Ambulatory Surgery Centers Sub-Segment to be Most Productive
The ambulatory surgery centers sub-segment is predicted to hold the largest share of the market during the analysis timeframe. The ambulatory surgery centers provide numerous benefits to patients of all age groups within a comfortable environment which is expected to propel the growth of the market sub-segment over the estimated timeframe.
North America Region to Hold the Maximum Share of the Market
The North America region of the bronchial thermoplasty catheter market is expected to hold the biggest share of the market throughout the forecast period. This is mainly due to the increasing incidences of asthma among individuals in this region. Moreover, the strong existence of major market players in this region and the rapidly increasing technological developments are predicted to drive the regional growth of the market during the analysis timeframe.
Covid-19 Impact on the Bronchial Thermoplasty Catheter Market
The rise of the novel coronavirus has negatively impacted the bronchial thermoplasty catheter market. This is mainly because of the decreased rate of hospitalization for asthma patients during the pandemic period as only severe illnesses and patients are allowed to be admitted. Moreover, both patients and healthcare professionals started avoiding exposure to dangerous infections which are the factors that declined the growth of the market throughout the crisis.
Key Players of the Market
The major players of the bronchial thermoplasty catheter market include Boston Scientific and many others. These players are broadly working on the development of new business strategies and tactics such as mergers and acquisitions, partnerships and collaborations, and product development to acquire a leading position in the global industry.
For instance, in August 2021, Boston Scientific Corporation, a leading medical products company dedicated to transforming lives through innovative medical solutions received approval from the U.S. Food and Drug Administration (FDA) on the clearance of the EXALT™ Model B Single-Use Bronchoscope, which is designed to use for several bedside procedures within the intensive care unit (ICU) and operating room (OR).
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Further, the report also presents other crucial aspects including SWOT analysis, the financial performance of the key players, the product portfolio, and the latest strategic development.
More about Bronchial Thermoplasty Catheter Market:
- A Brief Overview of How Bronchial Thermoplasty Catheter Works and its Advantages
- Global Bronchial Thermoplasty Catheter Market to Observe Widespread Growth with Increasing Cases of Asthma
