May 21, 2019 by Steve Blade
The major factor expected to drive the growth of the endobronchial valves market is growing awareness regarding procedure for bronchoscopic lung volume reduction in various lung-related diseases. The increasing prevalence of tobacco smoking worldwide is consequently expected to contribute to the growth of the Endobronchial Valves Market.
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Endobronchial valves are specially designed one-way valves that allow the exhaled air to exit the lungs, but restrict the entry of inhaled air to the lung compartment. The endobronchial valve is used to decrease the lung volume in the condition of lung disease or more specifically emphysema. A commonly endoscopic approach is prescribed rather than thoracoscopic lung volume reduction surgery. The insertion of the endobronchial valve is performed by a delivery catheter, which is passed from the bronchoscope. An endobronchial valve is designed in such a way that it only prevents air uptake or inflation during the inhalation process, and allows the mucosa and exhaled air to exit or the lungs to deflate during the process of exaltation. The endobronchial valves come in different shapes and designs based on the use. Currently, the endobronchial valves are designed in duckbill and umbrella shape.
The chronic obstructive pulmonary disease (COPD) is one of the major lung disorders. With the growing geriatric population, who are more commonly susceptible to lung disease, the demand for endobronchial valve is expected to increase at a linear speed. Besides, growing air pollution has a significant impact on the increasing number of patients suffering with lung disorders, particularly severe emphysema and advanced emphysema. This is also considered as one of the major factors fueling the growth of the global endobronchial valves market over the forecast period. Efficiency of the endobronchial valves compared to the standard medical care in lung volume reduction methods and emphysema treatment is the other factor expected to propel the growth of the endobronchial valves market over the forecast period. However, the high cost associated with the procedure coupled with the post-operative adhesion issues associated with the valve are factors expected to restrict the growth of the endobronchial valves market over the forecast period.
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The global market for endobronchial valves is still in the nascent stage. The global endobronchial valves market is projected to show steady growth as there is no particular substitute available for endobronchial valves in minimally invasive surgery for lung volume reduction. Due to increasing demand for endobronchial valves, manufacturers of endobronchial valve systems are mainly focused on clinical trials and research and development. In the forthcoming years, the global endobronchial valves market is expected to witness the entry of few new market players, which will increase the competition in the endobronchial valves market. The growing global population, predominantly geriatric, who are more susceptible to have a lung disease, the market for the endobronchial valves is expected to grow at a steady speed. Among the two product types, due to the ease in the implanting the duckbill-shaped endobronchial valves is expected to be the leading segment in the global endobronchial valves market over the forecast period. The ongoing clinical trials in various regions as such North America and Europe, especially in the U.K., are projected to offer new growth opportunities for the manufacturers operating in the endobronchial valves market.
Geographically, the global endobronchial valves market is segmented into North America, Latin America, Europe, Asia-Pacific excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). North America is expected to be the dominant regional market for endobronchial valves owing to increasing healthcare spending and shift towards minimally invasive surgeries. The endobronchial valves market in Asia Pacific excluding Japan is expected to grow at a significant CAGR due to the increasing healthcare spending in China and India. Europe is projected to hold second large share in the global endobronchial valves market over the forecast period.
The global market for endobronchial valves is consolidated with very few players operating in the global endobronchial valves market. Examples of some of the key players operating in the global endobronchial valves market are Pulmonx Corporation (Zephyr), Spiration Inc, etc.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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