Bronchial Thermoplasty Catheter Market Size to Reach $5416.8 Mn by 2031Download Sample Reports Overview
The Global Bronchial Thermoplasty Catheter Market Size is predicted to be valued at $5416.8 million by 2031, surging from $3409 million in 2021, at a noteworthy CAGR of 4.99%.
Impact Analysis of COVID-19 on Bronchial Thermoplasty Catheter Market
The COVID-19 pandemic negatively impacted the bronchial thermoplasty catheter market share growth. The need for medical supplies is increasing in order to satisfy the demands of the affected population. In primary clinical care, respiratory support equipment such as an oxygen generator, a life-support machine, monitor, and an atomizer are among the most commonly used medical equipment. Furthermore, COVID-19 has caused a significant rise in demand for medical goods such as masks, gloves, and protective eyewear. With an increase in the number of COVID-19 cases around the world, the need for medical supplies among healthcare professionals and the general population for preventative measures continues to increase. Additionally, the prevalence of asthma among COVID-19 patients varies greatly. Patients who suffered from asthma were reported to have similar or lower rates of COVID-19 infection than the general population. COVID-19 can cause insignificant to severe breathing issues. The COVID-19 pandemic affected practically every area of daily life. Some of the most severe consequences were found in healthcare, with restricted access to physicians, medications, and protective equipment. The pandemic altered how patients with asthma sought and maintained asthma treatment.
Global Bronchial Thermoplasty Catheter Market Analysis
Bronchial thermoplasty is an effective treatment for some people who suffer from asthma. The treatment is used to open up the lungs and generate heat by applying radio frequency energy to the airway wall. People with severe asthma frequently have trouble breathing because asthma causes the airway lining to become swollen and inflamed, narrowing the airways over time and making it more difficult for air to pass through. Bronchial thermoplasty can reduce the symptoms of severe asthma in some people while also reducing the risk of asthma attacks. Growing asthma communities on social media platforms, as well as people demonstrating interest in bronchial thermoplasty (BT), are factors projected to drive bronchial thermoplasty catheter market growth during the forecast period.
Government limitations over governing product approval is the major factor hampering the growth of the market. The availability of alternative therapies and the limitations with bronchial thermoplasty catheter are also restricting market growth. If there is significant concurrent renal failure, users should avoid this because it is nephrotoxic. Additionally, exposure to radiation is costly and difficult to afford and is a factor predicted to restrict the bronchial thermoplasty catheter industry growth.
Most research and development initiatives for bronchial thermography catheter are focused on a method that locates the exact point of bleeding and can be used to guide the development of endovascular treatment. Thermoplasty, which has the ability to provide an exact picture of the blood vessels, is driving the bronchial thermoplasty catheter market size growth.
Most of the research and development programs are associated with the technique that locates the exact location of the bleeding and can be used for medicinal determinations such as vasopressin potion or embolization. The preparation of the bowel does not require in this procedure. With the help of advanced technology, angiography represents an accurate picture of the blood vessels which is giving a lucrative growth for the market.
Global Bronchial Thermoplasty Catheter Market, Segmentation
The bronchial thermoplasty catheter market is segmented on the basis of end user and region.
The end user segment is further classified into hospitals and ambulatory surgery centers. Among these, the ambulatory surgery centers segment had a dominant market in 2021. Ambulatory surgery centers as an end user for medical clinics that specialize in outpatient surgical services in bronchial thermoplasty catheter are quite popular. The ambulatory surgery centers IT services market comprises the sales of IT services by businesses (manufacturers, single traders, and partnerships) that are utilized in ambulatory surgical centers for billing, accessing patient healthcare and medical information, and other communication. Ambulatory surgical centers (ASCs) are outpatient surgery centers that focus on same-day surgical treatments such as diagnostic and preventative procedure. These benefits are anticipated to boost the bronchial thermoplasty catheter market.
The bronchial thermoplasty catheter market in the North America region is anticipated to show the fastest growth by 2031. Increasing asthma attacks among individuals, increase in the number of hospitalizations of asthma patients in North America, presence of major players, and rapid technological advancements are some of the factors that have contributed to the growth of the bronchial thermoplasty market in the North American region. Asia-Pacific is the second fastest expanding region, generating opportunities for the expansion of the bronchial thermoplasty market.
Key Player in Global Bronchial Thermoplasty Catheter Market
Currently, Boston Scientific is the only manufacturing company in the bronchial thermoplasty catheter market.