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Global bronchoscopy will grow at a fast pace with substantial growth rates over the next five years. According to the WK Research, “Global Bronchoscopy Professional Survey Report 2022, Forecast to 2027”, market growth is largely driven by the rising prevalence of respiratory diseases, growing hospital investments in bronchoscopy facilities, and technological improvement in bronchoscopes. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 5.81% base on WK Research regression analysis model.
Analysts’ Viewpoint:
“The global bronchoscopy market is fairly fragmented, with many large and medium-sized players accounting for a majority of market revenue.
Market insight:
Growing advancements in technologies related to Bronchoscopy are a major factor driving revenue growth. For instance, in recent times, there have been significant advancements in advanced bronchoscopy. The technology enables doctors to access lung and chest abnormalities that are apparent on chest X-rays but are inaccessible with conventional bronchoscopes. The more common methods for accessing the bronchial tree, such as CT-guided biopsy or open chest surgery, can be replaced with this non-invasive procedure.
Increasing research and developments in the development of novel bronchoscopy platforms to treat chronic diseases is one of the major factors in driving revenue in the market. For instance, In the past ten years, Endobronchial Ultrasound (EBUS), together with the inclusion of numerous other guided-bronchoscopy techniques, has largely revolutionized the diagnostic bronchoscopy domain. These developments have significantly changed how lung cancer is managed, with bronchoscopy now offering diagnosis and mediastinal staging in one surgery. In fact, EBUS has replaced cervical mediastinoscopy as the method of choice for mediastinum staging. Although EBUS is a well-known technology by this point, the scientific community is constantly working to enhance its diagnostic capabilities. Increasing research activities conducted by various institutes around the globe allow the invention of novel technologies, whose effectiveness facilitates their market penetration.
The involvement of an array of complications associated with bronchoscopy is a major restraint to revenue growth of the market. For example, bleeding collapsed lungs, and fever are some of the significant complications associated with bronchoscopy. The aforementioned restraining factors play a significant role in decreasing the adoption rate among patients.
Competition Landscape:
On November 15, 2022, Fujifilm made the new launch of the EB-710P Slim Video Bronchoscope in India. The EB-710P is a slim endoscope with a CMOS sensor that is incredibly small. The tip is only 4.1 mm in diameter owing to this technology, which makes it considerably easier to pierce the lung's periphery than a typical method. In addition, there is a rotation mechanism that enables the operator to safely reposition the endoscope to where it was before the withdrawal. This WK Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading bronchoscopy companies that include: Teleflex Incorporated, Olympus Corporation, Ambu A/s., Karl Storz., Fujifilm Holdings Corporation, Boston Scientific Corporation, Cogentix Medical, Medtronic, Cook Medical, EMOS Technology GmbH, Broncus Medical Inc.
Segmentation of Bronchoscopy Market:
According to the type, the market for bronchoscopy is divided into: Flexible, Rigid, and Others. The flexible bronchoscope is accounted for the largest market revenue share. Flexible bronchoscopes are further segmented into video, fibre optic, and hybrid. A significant portion of the revenue is generated by the flexible segment due to its excellent video quality and high cost-effectiveness. Owing to its various advantages, including high-quality videos that make tumors and infections in deeper levels of bronchioles easy to see, the fibreoptic sub-segment has been dominating the flexible sector. In addition to the benefits described above, flexible bronchoscopes are practical for both patients and clinicians. Flexible bronchoscopy requires substantially less recovery time than rigid bronchoscopy. In addition, the small size of these devices enables a deeper reach into tiny lumens.
According to the application, the market for bronchoscopy is divided into: Oncology, Pneumonia, Pulmonary Tuberculosis, and Others. Oncology accounted for the largest revenue share. The increasing prevalence of pulmonary cancer and awareness among patients towards lung cancer screening are the major factors driving the growth of the segment. The ability of bronchoscopy to detect if cancer cells have spread is a major factor driving revenue growth. A bronchoscope with an integrated ultrasound probe may be used to examine the chest lymph nodes in persons with lung cancer. Endobronchial ultrasound, or EBUS, is a technique that aids medical professionals in selecting the best course of action. For evaluation of whether a malignancy has spread to other parts of the body, EBUS may be employed. The significant sensitivity of flexible bronchoscopy to treat lung cancer generates a significant surge in the adoption rate.
Bronchoscopy Market: Regional Analysis
In terms of geography, the global bronchoscopy market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Increasing funding from governmental and non-governmental organizations in biomedical research including respiratory research is a significant factor driving the revenue in the region. Increased funds on pulmonary diseases in this region lead to a surge in research activities, which in turn creates a significant opportunity for novel inventions leading to new product launches. The rising number of market players in the region investing in bronchoscopy devices is a major factor driving market revenue growth in this region. in Canada are some of the companies in the U.S. which are involved in bronchoscopy devices. With a growing number of market players in this region, it is expected that the number of bronchoscopy-based biomedical and biotechnological products will undergo a rapid surge, which is expected to increase market revenue during the forecast period.
Analysts’ Viewpoint:
“The global bronchoscopy market is fairly fragmented, with many large and medium-sized players accounting for a majority of market revenue.
Major players
are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective bronchoscopy products”, said Kevin Patel, Senior analyst, in WK Research.Market insight:
Growing advancements in technologies related to Bronchoscopy are a major factor driving revenue growth. For instance, in recent times, there have been significant advancements in advanced bronchoscopy. The technology enables doctors to access lung and chest abnormalities that are apparent on chest X-rays but are inaccessible with conventional bronchoscopes. The more common methods for accessing the bronchial tree, such as CT-guided biopsy or open chest surgery, can be replaced with this non-invasive procedure.
Increasing research and developments in the development of novel bronchoscopy platforms to treat chronic diseases is one of the major factors in driving revenue in the market. For instance, In the past ten years, Endobronchial Ultrasound (EBUS), together with the inclusion of numerous other guided-bronchoscopy techniques, has largely revolutionized the diagnostic bronchoscopy domain. These developments have significantly changed how lung cancer is managed, with bronchoscopy now offering diagnosis and mediastinal staging in one surgery. In fact, EBUS has replaced cervical mediastinoscopy as the method of choice for mediastinum staging. Although EBUS is a well-known technology by this point, the scientific community is constantly working to enhance its diagnostic capabilities. Increasing research activities conducted by various institutes around the globe allow the invention of novel technologies, whose effectiveness facilitates their market penetration.
The involvement of an array of complications associated with bronchoscopy is a major restraint to revenue growth of the market. For example, bleeding collapsed lungs, and fever are some of the significant complications associated with bronchoscopy. The aforementioned restraining factors play a significant role in decreasing the adoption rate among patients.
Competition Landscape:
On November 15, 2022, Fujifilm made the new launch of the EB-710P Slim Video Bronchoscope in India. The EB-710P is a slim endoscope with a CMOS sensor that is incredibly small. The tip is only 4.1 mm in diameter owing to this technology, which makes it considerably easier to pierce the lung's periphery than a typical method. In addition, there is a rotation mechanism that enables the operator to safely reposition the endoscope to where it was before the withdrawal. This WK Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading bronchoscopy companies that include: Teleflex Incorporated, Olympus Corporation, Ambu A/s., Karl Storz., Fujifilm Holdings Corporation, Boston Scientific Corporation, Cogentix Medical, Medtronic, Cook Medical, EMOS Technology GmbH, Broncus Medical Inc.
Segmentation of Bronchoscopy Market:
According to the type, the market for bronchoscopy is divided into: Flexible, Rigid, and Others. The flexible bronchoscope is accounted for the largest market revenue share. Flexible bronchoscopes are further segmented into video, fibre optic, and hybrid. A significant portion of the revenue is generated by the flexible segment due to its excellent video quality and high cost-effectiveness. Owing to its various advantages, including high-quality videos that make tumors and infections in deeper levels of bronchioles easy to see, the fibreoptic sub-segment has been dominating the flexible sector. In addition to the benefits described above, flexible bronchoscopes are practical for both patients and clinicians. Flexible bronchoscopy requires substantially less recovery time than rigid bronchoscopy. In addition, the small size of these devices enables a deeper reach into tiny lumens.
According to the application, the market for bronchoscopy is divided into: Oncology, Pneumonia, Pulmonary Tuberculosis, and Others. Oncology accounted for the largest revenue share. The increasing prevalence of pulmonary cancer and awareness among patients towards lung cancer screening are the major factors driving the growth of the segment. The ability of bronchoscopy to detect if cancer cells have spread is a major factor driving revenue growth. A bronchoscope with an integrated ultrasound probe may be used to examine the chest lymph nodes in persons with lung cancer. Endobronchial ultrasound, or EBUS, is a technique that aids medical professionals in selecting the best course of action. For evaluation of whether a malignancy has spread to other parts of the body, EBUS may be employed. The significant sensitivity of flexible bronchoscopy to treat lung cancer generates a significant surge in the adoption rate.
Bronchoscopy Market: Regional Analysis
In terms of geography, the global bronchoscopy market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Increasing funding from governmental and non-governmental organizations in biomedical research including respiratory research is a significant factor driving the revenue in the region. Increased funds on pulmonary diseases in this region lead to a surge in research activities, which in turn creates a significant opportunity for novel inventions leading to new product launches. The rising number of market players in the region investing in bronchoscopy devices is a major factor driving market revenue growth in this region. in Canada are some of the companies in the U.S. which are involved in bronchoscopy devices. With a growing number of market players in this region, it is expected that the number of bronchoscopy-based biomedical and biotechnological products will undergo a rapid surge, which is expected to increase market revenue during the forecast period.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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