Global Lung Biopsy Systems Market to Grow by CAGR of ~10% During 2022 – 2031 on the Back of Rising Cases of Lung Cancer

Research Nester published a report titled “Lung Biopsy Systems Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers a detailed overview of the global lung biopsy systems market in terms of market segmentation by product type, procedure type, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global lung biopsy systems market is projected to grow at a CAGR of ~10% by attaining a remarkable revenue during the forecast period, i.e., 2022 – 2031. A significant requirement for lung biopsy systems owing to the higher prevalence of lung diseases across the globe is anticipated to propel the growth of the market during the forecast period. World Health Organization (WHO) published a report showing that in 2019, 3.23 million people died due to chronic obstructive pulmonary disease (COPD). Additionally, by procedure type, the global lung biopsy systems market is segmented into transbronchial, thoracoscopic, and open biopsy. Out of these sub-segments, the open biopsy segment is estimated to obtain a notable share in the market during the forecast period. The growth of the segment can be accounted to the requirement for open biopsy by a large number of patients. Open biopsy is usually performed to diagnose the early sign of any sort of disease in the lungs. For instance, about 0.5 million bronchoscopies are performed annually in the USA. Bronchoscopy is a procedure that is utilized to diagnose and treat lung diseases by examining air passages.
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Furthermore, the global lung biopsy systems market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the North America region is estimated to grow at a remarkable pace over the forecast period on the back of the increasing geriatric population and the presence of a well-organized healthcare infrastructure. World Bank released a set of data stating that the geriatric population of the United States was 55,131,698 in 2020. Moreover, the well-structured healthcare system of North America and rising awareness of people toward chronic diseases are also expected to hike the growth of the market in the region during the forecast period. For instance, the USA is estimated to be the country with the highest health expenditure, the national health expenditure of the USA is projected to be about USD 3.5 trillion.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Rising Cases of Lung Cancer to Foster the Growth of the Market
In 2020, about 2 million people of the global population were projected to have lung cancer.
In lung biopsy, samples of lung tissues are taken or removed with the assistance of specialized biopsy needles to diagnose lung cancer and other types of diseases. A lung biopsy is generally performed in two methods that are closed and open methods. Therefore, this requirement of lung biopsy is anticipated to propel the growth of the market during the forecast period.
However, the possibility of side effects such as, blood loss and pneumonia is expected to operate as a key restraint to the growth of the global lung biopsy systems market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global lung biopsy systems market which includes company profiling of Argon Medical Devices, Inc., Fujifilm Corporation, Cardinal Health, Inc., DTR Medical Ltd, B. Braun Melsungen AG, Becton, Dickinson and Company, Olympus Corporation, Hologic Inc., Medtronic Limited, and Zimmer Biomet Holdings, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global lung biopsy systems market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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