PUBLISHER: The Business Research Company | PRODUCT CODE: 1414070
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414070
“Bronchoscope Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on bronchoscope market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for bronchoscope? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The bronchoscope market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A bronchoscope is a vital medical instrument employed to visually examine the lungs and airways. It comprises a flexible or rigid tube equipped with a camera and light source at its tip, enabling physicians to observe the trachea, bronchi, and bronchioles. This device serves both diagnostic and therapeutic purposes, facilitating procedures such as tissue biopsy, foreign object removal, and various airway medical interventions.
Two primary variants of bronchoscopes exist, rigid and flexible. Rigid bronchoscopes, crafted from metal and composed of handles, tubes, and sheaths, find application in diagnosing and treating respiratory conditions. They are instrumental in procedures including foreign body extraction, tumor excision, stent insertion, biopsy, hemostasis, and laser therapy. Bronchoscopes come in reusable and disposable forms, catering to diagnostic and treatment needs across hospital settings, clinics, ambulatory surgical centers, and similar medical facilities.
The bronchoscope market research report is one of a series of new reports from The Business Research Company that provides bronchoscope market statistics, including bronchoscope industry global market size, regional shares, competitors with a bronchoscope market share, detailed bronchoscope market segments, market trends and opportunities, and any further data you may need to thrive in the bronchoscope industry. This bronchoscope market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The bronchoscope market size has grown rapidly in recent years. It will grow from $2.74 billion in 2023 to $3.02 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. Historical growth was propelled by several factors, including a rise in awareness and societal acceptance, advancements in medical training and education, expanded clinical applications, particularly in endobronchial interventions, a growing demand for minimally invasive techniques, and the shifting demographics associated with an aging population. These elements collectively contributed to the observed growth during that period.
The bronchoscope market size is expected to see rapid growth in the next few years. It will grow to $4.51 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. Anticipated growth in the forecast period is expected to be fueled by increasing instances of respiratory disorders, a burgeoning aging population, the continued demand for minimally invasive procedures, notable advancements in robotics, and an amplified emphasis on early diagnostic capabilities.
The anticipated surge in respiratory tract disorders is set to drive the expansion of the bronchoscope market. These disorders encompass various conditions affecting the respiratory system, such as asthma, chronic obstructive pulmonary disease, pneumonia, and lung cancer. Bronchoscopy stands as both a diagnostic and therapeutic tool for these disorders, contributing to the projected market growth. For instance, statistics from the National Center for Health Statistics in 2021 reported a 17.8% increase in deaths attributed to chronic lower respiratory diseases in the US compared to 2020, signaling the escalating prevalence of these disorders and the consequent boost to the bronchoscope market.
The escalating demand for minimally invasive procedures (MIPs) is poised to propel the growth of the bronchoscope market. These procedures, conducted through small incisions, offer benefits such as reduced invasiveness, quicker recovery, and lower complication rates. Minimally invasive bronchoscopy, facilitated by advanced instruments such as flexible and video bronchoscopes, caters to patient preferences and drives diagnostic and therapeutic advancements. Notably, the International Society of Aesthetic Plastic Surgery reported a 19.3% overall increase in procedures performed globally in 2021 compared to 2020, reflecting the growing demand for minimally invasive approaches across medical disciplines and contributing to the bronchoscope market's expansion.
Key players in the bronchoscope market are innovating with new products such as single-use bronchoscopes to gain a competitive edge. These disposable devices are designed for one-time use in bronchoscopy procedures, offering flexibility and convenience. Olympus Corporation's launch of the H-SteriScope Single-Use Bronchoscopes in the U.S. in April 2021 exemplifies this trend. These bronchoscopes, comprising five premium endoscopes, cater to advanced diagnostic and therapeutic procedures, addressing specific requirements while enhancing workflow and patient care. They mirror traditional bronchoscopes in functionality and offer varying features, aiming to augment productivity and portability in medical settings.
Prominent companies in the bronchoscope market are driving innovation through minimally invasive procedures (MIPs). An example is the introduction of a new minimally invasive robotic-assisted lung biopsy procedure by MountainView Hospital & Medical Center in September 2021. Leveraging the ION robotic-assisted bronchoscopy platform, this advanced procedure improves lung cancer detection by extending the bronchoscope's reach to all lung segments, overcoming traditional limitations. Supported by technology analyzing CT exams, this initiative focuses on early detection and intervention, aiming to positively impact lung cancer survival rates within the community.
In May 2022, Medtronic plc, an esteemed medical devices company based in Ireland, completed the acquisition of Intersect ENT for an undisclosed sum. This strategic move significantly broadened Medtronic's portfolio within the ear, nose, and throat (ENT) segment by integrating innovative sinus implant products such as PROPEL and SINUVA from Intersect ENT. These additions enhance Medtronic's capacity to provide a more comprehensive range of care for individuals coping with chronic rhinosinusitis (CRS), fortifying its foothold in the global healthcare technology market. Intersect ENT, a US-based medical device manufacturer, specializes in developing drug-delivery devices tailored for ear, nose, and throat (ENT) conditions.
Major companies operating in the bronchoscope market report are Ambu A/S, Boston Scientific Corporation, Cogentix Medical Inc., Cook Medical LLC, Fujifilm Holdings Corporation, Hoya Corporation, Karl Storz Endoscopy SE & Co. KG, Olympus Corporation, PENTAX Medical, Richard Wolf GmbH, Teleflex Incorporated, EFER Endoscopy Srl, Lymol Medical Corporation, Schindler Endoskopie Technology GmbH, Scholly Fiberoptic GmbH, Uptake Medical B.V., Broncus Medical Inc., Novatech SA, Shanghai AoHua Photoelectricity Endoscope Co. Ltd., Rochling Group, Stryker Corporation, Smith & Nephew Inc., NeoScope Inc., Bryan Corporation, CONMED Corporation, Laborie Medical Technologies Corp., Envision Endoscopy Inc., SonoScape Medical Corp., Verathon Inc., Medtronic plc
North America was the largest region in the bronchoscope market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bronchoscope market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the bronchoscope market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The bronchoscope market consists of sales of fiber optic bronchoscopes and video bronchoscopes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.