Bronchoscopes Market Overview

As per Market Research Future (MRFR) analysis, the global bronchoscope market is estimated to reach USD 2,244.4 million, with a CAGR of 7.4% from 2018 to 2023 (forecast period).

Bronchoscopy has been a vital part of modern medicine. The bronchoscopy examination has been the most common method of diagnosing abnormality in the respiratory system’s normal function. Bronchoscopes are instruments used to visualize the insides of the patient’s airways. Bronchoscopes are usually inserted through the nose or mouth and occasionally through the trachea. A variety of bronchoscopes have been developed due to recent developments in medicine. Flexible bronchoscopes have been used to treat trachea and bronchial diseases. Owing to their various advantages, they are generally recognized across different countries and regions. 

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Bronchoscopes Market Dynamics

The global market for bronchoscope is primarily driven by an increase in the prevalence of acute respiratory disorders, lung cancer and COPD, an increase in bronchoscopies procedures, and a rise in the preference for minimally invasive procedures. According to the WHO (World Health Organization), 64 million people had the chronic obstructive pulmonary disease (COPD) in 2015, while more than 3 million people have died of COPD. In addition, 1.8 million people worldwide have had lung cancer. The number of bronchoscopy procedures has grown due to the increasing number of healthcare organizations and patient inflow. In addition, increasing geriatric population, rising health spending, and growing environmental factors have fuelled market growth over the review period. 

Nevertheless, high device costs and the risk of infection can slow down the growth of the market. 

Bronchoscopes Market Segmentation

The global bronchoscopes market has been segmented based on types, applications, and end-users.

Based on types, the market for bronchoscopes has been segmented into rigid bronchoscopes, and flexible bronchoscopes. The segment for flexible bronchoscopes are further sub-segmented into fiber optic bronchoscopes, and video bronchoscopes.

Based on the application, the market for bronchoscopes has been segmented into diagnosis, and surgical procedure. Diagnosis is further divided into the examination, the patient’s airways, bleeding lungs, the possibility of lung cancer, chronic cough, and the collection of tissue specimens for biopsy. The surgical procedure is further divided into the removal of a foreign object in the airway, tumor laser resection, lung abscess, stent insertion, percutaneous tracheostomy, and tracheal intubation.

Based on end-user, the market for bronchoscopes has been segmented into hospitals & clinics, diagnostic centers, and others. 

Bronchoscopes Market Regional Analysis

Regionally, the global bronchoscopes market is segmented into the Americas, the Asia Pacific, Europe, and the Middle East & Africa.

Considering the global market scenario, America dominates the global market for bronchoscopes due to the presence of a large patient population, high healthcare spending, and a well-developed healthcare system. North America has the largest market share in the American bronchoscopes market. As reported by the Centers for Medicare & Medicaid Services, in 2015, U.S. health spending has grown by 5.8% in the past five years. In addition, increased government funding for research and development has fueled the overall growth of the American bronchoscopes industry. 

Europe has the second-largest market for bronchoscopes, followed by the Asia Pacific. Due to the emergence of a well-developed healthcare system, a rising prevalence of respiratory diseases, and a high expenditure on health care, the demand for bronchoscopes in Europe is growing at 6.9% CAGR. 

The Asia Pacific is also experiencing rapid growth in this market, primarily due to rapidly increasing awareness of the availability of treatment, increasing patient inflow, a large population base, and rising healthcare costs. 

The Middle East & Africa are projected to have limited growth. The Middle East dominates this market by holding a significant share of the Middle East & Africa market due to the well-developed technology and healthcare sector. 

Bronchoscopes Market Key Players

Some of the leading participants in the global bronchoscopes market are Ambu Inc. (US), Boston Scientific Corporation (US), Cogentix Medical (US), Pentax Medicals (Japan), Olympus Corporation (Japan), Schindler Endoskopie Technologie Gmbh (Germany), KARL STORZ GmbH & Co. KG (Germany), Schölly Fiberoptic Gmbh (Germany), Fujifilm Holdings Corporation (Japan), Hangzhou EndoTop Medi-Tech Co., Ltd.(China), Guangzhou MeCan Medical Limited (China), Vimex Sp. (Poland),and LocaMed (UK).

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