New York, USA, June 08, 2023 (GLOBE NEWSWIRE) -- Bronchoscopy Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Bronchoscopy Market Information by Product, Usability, Application, End User and Region - Forecast till 2030”, market size was valued at USD 2.3 billion in 2021 and is projected to grow from USD 2.5 Billion in 2022 to USD 4.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.6% during the forecast period.
Market Scope
The most frequent interventional pulmonology procedure carried out via bronchoscope is bronchoscopy. Both single-use and reusable bronchoscopes can be used for bronchoscopy. Both disposable and reusable bronchoscopes are used for endoscopic inspection, diagnosis, and treatment of the tracheobronchial tree and airways. A single-use bronchoscope can be used to diagnose conditions. A compound annual growth rate (CAGR) of 7.6% is anticipated for the bronchoscopy market, which is expected to increase to USD 4.1 billion by 2030. Additionally, the rising prevalence of COVID-19 is anticipated to favor the market of bronchoscopy due to its potential use in providing patients with respiratory support and lowering mortality rates. Additionally, the WHO has provided instructions for properly and securely using bronchoscopy during COVID-19. Such initiatives will increase market share during the anticipated period.
The market statistics have been significantly impacted by growing awareness of minimally invasive bronchoscopy procedures. Additionally, there are more elderly people worldwide, which has increased the prevalence of respiratory illnesses like asthma. To provide more accurate diagnostic procedures, market players are also introducing cutting-edge technologies like navigational bronchoscopy, robotic-assisted bronchoscopy, augmented fluoroscopy, and cone-beam C.T. Key players' initiatives are anticipated to offer the market lucrative growth prospects. Additionally, these can be combined with other techniques like laser therapy and endobronchial ultrasonography. The market size will also increase due to several benefits associated with flexible bronchoscopy, such as its cost-effectiveness and quick recovery time following the procedure compared to rigid bronchoscopy.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 4.1 billion |
| CAGR | 7.6% |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Usability, Application and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increase in number of cases related to respiratory diseases |
| The growing demand for bronchoscopy devices Rising prevalence of lung cancer |
Bronchoscopy Market Competitive Analysis
Government support is predicted to hasten the expansion of the world market in the upcoming years. The emphasis on accumulating resource reserves for unanticipated events is anticipated to impact future market trends. Functioning techniques are anticipated to diversify globally as more contemporary operating and transportation methods are implemented. The return of the subsequent wave of COVID instances in various regions could result in modest market growth. The ability of the market to thrive may be significantly hampered by the sporadic use of restrictions across several regions as labor and supply networks are severely hampered. The marketplace's constant developments and research are predicted to soon lead to several promising expansion opportunities. The projected period is expected to see a significant increase in sales dependent on online commerce, which will encourage more market participants to invest in its expansion.
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The market for bronchoscopy is dominated by businesses like Olympus Corporation (Japan), Teleflex, Inc. (U.S.), Ambu A/S (Denmark), Karl Storz GmbH (Germany), and Fujifilm Holdings Corporation (Japan).
Bronchoscopy Market Segmental Analysis
By application, the market includes bronchial diagnosis and bronchial treatment. By end user, the market includes hospitals & clinics and ambulatory surgery centers.
By product, the market includes endoscopes, visualization & documentation systems, and accessories.
By usability, the market includes disposable equipment and reusable equipment.
Detailed Regional Analysis
The market for bronchoscopy in North America is attributed to key players, a high prevalence rate for lung cancer, an increase in COPD cases in the U.S., and the availability of cutting-edge treatments. As a result, the market's expansion in North America is further boosted by rising lung cancer prevalence, an increase in the number of new asthma instances, and significant key players. Due to rising healthcare spending, technological advancements, bronchoscopy advancements, and approval from regulators for a bronchoscope portfolio, Europe is predicted to hold the second-largest market share.
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The market potential for bronchoscopy in the Asia-Pacific region is expanding due to increasing scientific and technological activity, easy access to labor costs, growing hospital adoption of advanced bronchoscopy technology, and growing strategic alliances like mergers, acquisitions, agreements, and collaborations.
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