(PharmaNewsWire.Com, September 29, 2021 ) According to the new market research report “Bronchoscopy Market by Product Bronchoscopes (Flexible, Rigid, EBUS), Imaging Systems (Monitor, Camera), Accessories, Working Channel Diameter (2.8, 2.2, 3.0), Usability (Reusable, Disposable), & End Users (Hospital, ACSs/Clinic) – Global Forecast to 2024″, published by MarketsandMarkets™, the bronchoscopes market is projected to reach USD 2.6 billion by 2024 from an estimated USD 2.0 billion in 2019, at a CAGR of 5.9% during the forecast period.
Market Size Estimation;
The Bronchoscopy Market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (segmental analysis of major segments) and top-down approach (assessment of utilization/adoption/penetration trends, by product, application, working channel diameter, usability, patient age, end user, and region).
- To define, describe, segment, and forecast the global bronchoscopy market by product, application, working channel diameter, patient age, usability, end user, and region
- To provide detailed information about the factors influencing market growth (such as drivers, opportunities, and challenges)
- To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the size of the bronchoscopy market in four main regions along with their respective key countries (North America, Europe, the Asia Pacific, and the Rest of the World)
Geographically; North America dominated the bronchoscopy market in 2018. The large share of North America in the global bronchoscopes market is attributed to the increase in the incidence and prevalence of chronic respiratory diseases, favorable reimbursement scenario in the US, and rising incidence of lung cancer in Canada.
The Asia Pacific market, on the other hand, is projected to register the highest growth during the forecast period. Factors such as the increasing number of hospitals, developing healthcare infrastructure, increasing healthcare expenditure, rising geriatric population, and the presence of a large patient population are driving the growth of the bronchoscopes market in the Asia Pacific.
The key players in the global Bronchoscopy Market are Olympus Corporation (Japan), KARL STORZ (Germany), and FUJIFILM Holdings Corporation (Japan). Other prominent players in the market include Ambu A/S (Denmark), Boston Scientific (US), Ethicon (US), Medtronic (Ireland), HOYA Corporation (Japan), Richard Wolf GmbH (Germany), Cook Medical (US), CONMED Corporation (US), Roper Technologies (US), Teleflex Incorporated (US), LYMOL Medical (US), LABORIE Medical Technologies (Canada), EFER Endoscopy (France), EMOS Technology GmbH (Germany), VBM Medizintechnik GmbH (Germany), Hunan Vathin Medical Instrument Co., Ltd. (China), and MACHIDA Endoscope Co. Ltd., (China).
The bronchoscopes segment accounted for the largest share of the market in 2018.
Based on product, the Bronchoscopy Market is segmented into bronchoscopes, imaging systems, accessories, and other bronchoscopy equipment. The bronchoscopes segment accounted for the largest share of the market in 2018. The large share of this segment can be attributed to the high cost of bronchoscopes compared to the imaging systems and accessories, increasing prevalence of lung cancer, and technological advancements.
The reusable bronchoscopes segment dominated the market in 2018.
On the basis of usability, segmented into reusable and disposable bronchoscopes. The reusable bronchoscopes segment accounted for the largest share of the Bronchoscopy Market in 2018. The large share of this segment can be attributed to the high image quality achieved through reusable bronchoscopes.
Hospitals accounted for the largest market share in 2018.
Based on end user, segmented into hospitals and ambulatory surgery centers/clinics. The hospitals segment accounted for the largest share of the Bronchoscopy Market in 2018. The large share of this segment can be attributed to the high patient preference for hospital treatment, availability of skilled healthcare professionals, and favorable reimbursement scenario.
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