New Jersey, NJ, Oct. 14, 2019 (GLOBE NEWSWIRE) -- Factors propelling the growth of the market include incidence rate of asthma and rise in pollution and dust allergy issue. The global bronchial thermoplasty market is expected to grow from USD 59.11 billion in 2017 to USD 166.82 billion by 2025 at a CAGR of 14.14% during the forecast period 2018-2025, according to the new report published by Fior Markets.
Bronchial thermoplasty is a modality for treating asthma patients and helps to prevent the chronic structural changes that occur in airway smooth muscle (ASM). Bronchial thermoplasty reduces airway smooth muscle as well as also reduces bronchoconstriction and asthma exacerbations thus improving the quality of life of an asthma patient. Bronchial thermoplasty enables control on specific amount of radiofrequency energy to the airway wall through a dedicated catheter. According to report published in 2017 by World Health Organization (WHO), in the world about 235 million people were affected with asthma in 2015 and it accounted for 383,000 deaths worldwide. Also, the asthma occurrence rate is increasing in children’s due their exposure to various airborne allergens and other risk factors. Bronchial thermoplasty does not cure asthma, but it makes the patients feel and breathe better.
Bronchial thermoplasty is an outpatient procedure that treats severe asthma by going to the source. It uses a probe which releases heat and shrinks scarred, thickened lung tissue. Bronchial thermoplasty is recognized to lessen asthma attacks for at least 5 years. Incidence rate of asthma and rise in pollution and dust allergy issue are the key driving factors for the bronchial thermoplasty market. The costly procedure as well as need for skilled operators and developed infrastructure may limit the growth of the market. However, rising cases of asthma globally is expected to boost the bronchial thermoplasty market over the forecast period.
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Key players operating in the global bronchial thermoplasty market are Boston Scientific Corporation and McLaren Health Care. Key players active in the market are involved in collaborative, partnership, agreements and expansion to bolster the growth of the market.
- For instance, in 2018, Walgreens and McLaren Health Care entered into a strategic collaboration to focus on health service and pharmacy offerings. McLaren plans to open a combination of several different types of health service offerings in Walgreens retail locations throughout Michigan, including retail health care clinics, urgent care centers and primary care sites.
- For instance, in 2010, Boston Scientific Corporation acquired Asthmatx, Inc., a manufacturer of Alair system. This system had received the U.S. FDA approval in April 2010 and CE Mark in 2011.
30-50 years segment held largest market share of 38.17% in 2017.
Age group segment includes 18-30 years, 30-50 years, and greater than 50 years. 30-50 years age group segment dominated the global bronchial market and registered a value of around USD 22.56 billion in 2017 because large number of individuals from this age group suffer from severe asthma disease. According to the Centers for Disease Control and Prevention, during 2006 to 2010, among the total asthma patients in the U.S., uncontrolled asthma was evident in 38% children and 50% adults. This has increased the number of asthma cases and has supplemented the growth of the 30-50 years as the chances of the asthma in this age group is more and this age group people are more aware about the treatment & precautions required for the disease control.
Regional Segment Analysis of the Bronchial Thermoplasty Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
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North America region held the largest market share of approximately 39.39% in 2017 where as the Asia Pacific region held the second dominant position in the global bronchial thermoplasty market. Increasing asthma attacks among the individuals, increasing number of hospitalizations patients suffering from the risk of asthma in the U.S, presence of major players, and rapid technological advancements are some of the factors that led to the growth of bronchial thermoplasty market in North America region. Asia Pacific is the second fastest growing region due to the increasing adoption of automotive as well as government rules for reducing the accidents of vehicles are creating opportunity for the growth of the bronchial thermoplasty market.
About the report:
The global bronchial thermoplasty market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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