The global bronchial thermoplasty catheter market is expected to grow in revenue to $5,416.8 million by 2031 with at a CAGR of 4.99% during the forecast period 2022-2031, according to Research Dive.
Bronchial thermoplasty is a treatment option for asthma patients that helps to avoid persistent structural alterations in the airway smooth muscle. It is an asthma treatment that targets the smooth muscle in the lungs as well as bronchoconstriction and asthma exacerbations, improving an asthma patient's quality of life.
Bronchial thermoplasty enables the precise delivery of radiofrequency radiation to the airway wall through a dedicated catheter. Over the years, there has been a rise in the incidence of asthma across the globe which is expected to become the primary growth driver of the bronchial thermoplasty catheter market in the forecast period. Growing pollution and associated problems are anticipated to push the market forward. However, according to market analysts, lack of skilled operators and infrastructure might become a restraint in the growth of the global market.
Growing susceptibility of global populations to dust allergy is predicted to offer numerous growth opportunities for the market in the forecast period. Moreover, increasing adoption of bronchial thermoplasty catheter procedure for asthma disease recovery is expected to help the bronchial thermoplasty catheter market register substantial growth in the coming period.
The COVID-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The bronchial thermoplasty catheter market, too, was negatively impacted by the pandemic. The pandemic saw a shift in focus from asthma to COVID-19. As a result, mostly critical COVID-19 patients were being admitted in the hospitals, which brought down the number of asthma-related hospitalizations drastically. This, in turn, brought down the growth rate of the bronchial thermoplasty market during the pandemic period.
Currently, Boston Scientific is the only manufacturing company in the bronchial thermoplasty catheter market. The upcoming players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to gain an entry in the market.
The final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance and latest strategic moves and developments.
