According to Future Market Insights (FMI), the global Bronchoscopes Market is expected to register sales worth USD 480.3 Million by the end of 2021 and will expand 1.3X over the forecast period. The market is anticipated to expand at a CAGR of 4.4% during the forecast period of 2022-2028 and will register sales of USD 647.7 Million in the year 2028.
The global bronchoscopes market is expected to account for nearly 4% of the global endoscopes market by the end of 2021, which is expected to be valued at USD 13.0 Billion in the same year. The growing incidence of idiopathic pulmonary fibrosis, pulmonary fibrosis, interstitial pneumonitis, occupational sarcoidosis and pulmonary hemorrhage are driving the demand for bronchoscopes market and may present with many beneficial opportunities for the manufacturers, globally.
Conventional (multiple use) flexible bronchoscopes have time and monetary costs associated with cleaning, and carries the risk of cross infection. A single-use flexible video bronchoscope eliminates any risk of cross-contamination. Early assessment of the cost effectiveness of single-use bronchoscopes indicates potential hospital savings and patient benefits from infections avoided. Increased use of single use flexible bronchoscopes is driving a large market owing to attractive advantages.
It is observed that bronchoscopes has undergone a tremendous shift from the conventional invasive procedures to minimally invasive and advanced devices. Advancements and development of improved bronchoscopes such as White-light bronchoscopy, Auto fluorescence (blue-light) bronchoscopy, navigational bronchoscopy and others are expected to be the key factors driving the growth of the global market.
Presently, advancements in technology have led to the development of the bronchoscopes, with an expansion of potential applications. Technological advancements in bronchoscopes will propel the growth of this market over the forecast period.
According to the Office of Disease Prevention and Health Promotion (ODPHP), around 14.8 million people in the U.S. suffered from chronic obstructive pulmonary disease (COPD) in the year 2020. Bronchoscopy is necessary for constant evaluation of the disease progression. Rising cases of bronchoscopy is another factor which will positively impact the growth of bronchoscopes market over the forecast period.
The sales of video bronchoscopes is expected to reach USD 414.8 Million, by value, by the end of 2021, which would contribute to around 86.4% share of the total revenue of bronchoscopes market. Bronchoscopy is an important diagnostic procedure for all the pulmonary diseases, the rising incidence of these diseases will drive the demand for this market over the forecast period.
Bronchoscopes Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2022 | USD 501.0 Million |
| Market Value 2028 | USD 647.7 Million |
| CAGR 2022 to 2028 | 4.4% |
| Share of top 5 countries | 50.9% |
| Key Players | The key players of this industry are Olympus Corporation; Fujifilm Holdings Corporation; Teleflex Incorporated; Karl Storz GmbH & Co KG; Richard Wolf GmbH; Hoya Corporation (Pentax medical); Ambu A/S; Shanghai AoHua Photoelectricity Endoscope Co. Ltd.; and Rochling Group |
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| Particulars | Details |
|---|---|
| H1 - 2021 | 4.34% |
| H1 - 2022 Projected | 4.37% |
| H1 - 2022 Outlook | 4.27% |
| BPS Change - H1, 2022 (O) - H1, 2022 (P) | (-) 10 ↓ |
| BPS Change - H1, 2022 (O) - H1, 2021 | (-) 07 ↓ |
The bronchoscopes market is under influence of healthcare expenditure and innovation factors subject to macro and industry factors. Key developments in the market include acquisition and product launches by key players to establish their presence.
According to Future Market Insights analysis, the bronchoscopes market is expected to witness a drop in growth rate by 07 Basis Point Share (BPS) in H1- 2022 (O) as compared to H1-2021.
Main reason behind this drop can be attributed to growing stringency of regulations for the bronchoscope manufacturers, together with growing concern among end users regarding risks of cross-contamination and post bronchoscopy infection. H1-2022 outlook period in comparison to H1-2022 projected period showed a negative growth in terms of Basis Point Share by 10 BPS.
However, improved access to healthcare services and rise in demand for quality healthcare make the emerging markets highly lucrative for the medical device companies.
In particular, China is witnessing an increase in bronchoscopy procedure adoption since China offers lucrative reimbursement opportunities which attract more patients to avail the benefits associated with this procedure. In western countries as well, the rising geriatric population are also prone to increasing rate of the respiratory blockage related issues. Such factors can positively fuel the growth of bronchoscopes market.
According to Future Market Insights (FMI), the demand for bronchoscopes expanded at a CAGR of 4.1% during the period of 2013-2021. Rising demand for bronchoscopes can be attributed to the rising incidence of pulmonary diseases, increased life expectancy, and technological advancements in the field of bronchoscopy.
The advent of advanced bronchoscopy procedures such as Electromagnetic navigation bronchoscopy (ENB) is intended to enhance standard bronchoscopy by providing a three -dimensional roadmap of the lungs and real -time information about the position of the steerable probe during bronchoscopy. The electromagnetic navigation bronchoscopy is expected to secure higher reimbursement which will drive the demand for this market over the forecast period.
The improvement of healthcare infrastructure led to improved accessibility to healthcare, which in turn led to increased life expectancy and higher median age of the population. For instance, according to the World Health Organization (WHO) statistics, in 2020, the geriatric population was expected to outnumber children below 5 years of age. The proportion of population above 60 years of age would nearly be 22% by 2050. The most common conditions that geriatric population suffers from consist of COPD, diabetes, dementia and many others. Thus, the increasing geriatric population will positively impact the growth of this industry over the forecast period.
The key players of this industry are adopting strategies of acquisitions and product launches to expand their market existence and strengthen their foothold around the world.
The market is consolidated with players such as Olympus Corporation, Fujifilm Holdings Corporation, Teleflex Incorporated, Karl Storz GmbH & Co KG, Richard Wolf GmbH, Hoya Corporation (Pentax medical), Ambu A/S, Shanghai AoHua Photoelectricity Endoscope Co. Ltd., and Rochling Group.
Future Market Insights expects the global endoscopes market to expand at a CAGR of 4.4% over the forecast period owing to the efforts taken by the key players of this industry to expand themselves in the global market.
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Most of the major medical device players are focusing on the emerging markets due to huge growth potential and to increase their distribution channel. Change in disease patterns triggered by lifestyle changes, rising affluence, improved access to healthcare services and rise in demand for quality healthcare make the emerging markets highly lucrative for the medical device companies.
Increasing elderly population represents additional opportunities for bronchoscopes manufacturers. In addition, reimbursement schemes in most developed countries is expected to fuel the demand for bronchoscopes in China over the forecast period.
Most of the major medical device players are focusing on cost reduction which has resulted in pricing pressure especially in the lower end devices. The market represents a bimodal nature with high end devices charging the premium. It also represents better use of technology and resources of the company.
Distribution efficiency represents another neglected area. Vendors need to develop specialized chains with the end user such as hospitals. Large healthcare providers and hospitals represent a large opportunity. The consolidation of healthcare especially in the U.S. provides a compelling opportunity to address the issues at the earliest.
Risks of cross-contamination and post bronchoscopy infection from bronchoscopy procedures is under research and is dampening the procedure adoption rates. The risks of bronchoscopy such as bleeding, trouble breathing and a low blood oxygen level during the test are also hampering the market.
The rates of a patient having a post bronchoscopy infection is rising due to the emergence of methicillin resistant staphylococcus aureus and other resistant bacteria. The post bronchoscopy infection rates at ambulatory surgical centres (ASCs) are many times higher than hospitals and clinics, which is hampering the bronchoscopes market.
Emergence of non-invasive diagnostic methods such as liquid biopsy, Magnetic Resonance Spectroscopy and others is negating the market growth. Growing stringency of regulations such as Post Marketing Approval is hampering the market. Bringing a device to market takes an average of 3 to 7 years.
Class III devices require pre-market approval (PMA), the most rigorous process required for devices by the FDA. Such devices will require clinical evidence to support the application owing to significantly greater risks to patients. Thus the growing stringency of regulations is hampering the growth of this industry.
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USA is expected to hold 91.8% market share of North America region, by value in the year 2021 and is anticipated to expand at a CAGR of 4.2% over the forecast period 2022-2028 owing to aspects such as an increase in the number of hospitals, development of healthcare infrastructure, an increase in healthcare spending, the growth of the aging population, presence of a large patient population.
Additionally, favourable reimbursement scenarios in the USA are positively affecting the demand of bronchoscopes and is expected to follow similar trend over the forecast period.
In Europe, Germany is expected to account for 19.1% share, by value of the total European bronchoscopes market, by the end of 2021. Increased adoption of minimally invasive surgeries, and technological advancements in the field of bronchoscopy are some of the key factors that will propel the demand of bronchoscopes in Germany.
India is anticipated to hold 19.5% share, by value of the total Asia Pacific bronchoscopes market, by value in 2021 and will expand at a CAGR of 6.4% over the forecast period. High prevalence of chronic pulmonary diseases, and increasing healthcare expenditure by the government, and increased adoption of bronchoscopy are some of the key factors driving the demand for bronchoscopes in India.
The global bronchoscopes market is expected to register sales worth USD 480.3 Million by the end of 2021 and is projected to reach USD 647.7 Mn by the end of 2028 with a cumulative CAGR of 4.4%.
< h4>Why is the Demand for Video Bronchoscopes the Highest, by Product?Video bronchoscopes is expected to 86.4% market share, by value by the end of 2021, and will expand at a CAGR of 4.2% over the forecast period. Since video bronchoscopes are widely used for the diagnosis of infectious diseases, inflammatory conditions or tumours of the lung, they contribute to the largest market share of this market.
< h4>Which Modality Holds the Maximum Share in the Bronchoscopes Market?Flexible fiber bronchoscopes have high-definition recordings, allowing for easy detection of cancers and infections in the bronchioles' deeper levels. Flexible bronchoscopes are convenient for both doctors and patients as it takes substantially less time to recover from than rigid bronchoscopy and are expected to register sales worth USD 450.4 Million by the end of 2021, which would account for more than 93% share, by value of the total bronchoscopes market and is expected to expand at a CAGR of 4.4% between 2022 and 2028.
< h4>Which end-user Contributes to Highest Market Share in the Bronchoscopes Market?Hospitals are expected to hold the highest share of 64.5%, by value in 2021, and will expand to reach USD 421.3 Million by the end of 2028. The segment is set to expand at a CAGR of 4.4% over the forecast period, owing to the high preference for hospital-based treatment & procedures, availability of skilled healthcare professionals, technologically advanced facilities, and favorable reimbursement scenario.
Key manufacturers of the bronchoscopes market are focusing on gaining approvals from various regulatory authorities, expanding their business in new regions, and collaborating with other leading players in order to strengthen their product portfolio and market presence all over the world.
The increasing demand for bronchoscopy procedures, higher prevalence rates of chronic pulmonary disorders will offer many opportunities for the key players.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2028 |
| Historical Data Available for | 2013 to 2021 |
| Market Analysis | USD Million for Value. |
| Key Countries Covered | USA, Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, South Africa |
| Key Segments Covered | Product, Modality, End-User and Region. |
| Key Companies Profiled | Olympus Corporation; Fujifilm Holdings Corporation; Teleflex Incorporated; Karl Storz GmbH & Co KG; Richard Wolf GmbH; Hoya Corporation (Pentax medical); Ambu A/S; Shanghai AoHua Photoelectricity Endoscope Co. Ltd.; Rochling Group |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The key players of bronchoscopes market are Olympus Corporation, Fujifilm Holdings Corporation, Teleflex Incorporated, Karl Storz GmbH & Co KG, Richard Wolf GmbH, Hoya Corporation (Pentax medical), Ambu A/S, Shanghai AoHua Photoelectricity Endoscope Co. Ltd., and Rochling Group.
Hospitals are the leading end-user for bronchoscopes with a market share of 64.5%, by value, in 2021.
The bronchoscopes market is expected to record sales worth USD 647.7 Million by the end of 2028.
The bronchoscopes market is set to expand at a CAGR of 4.4% over the forecast period 2022-2028.
Flexible Fiber Bronchoscopes is the leading type of bronchoscopes, with a market share of 93.8% by the end of 2021,in terms of modality owing to their high demand by the healthcare professionals since they provide direct visualization of the upper and lower respiratory tracts.
1. Executive Summary 2. Market Introduction 3. Bronchoscopes Market Opportunity Analysis 4. Market Background 5. Global Economic Outlook 6. Key Inclusions 7. North America Bronchoscopes Market Analysis 2013-2021 and Forecast 2022-2028 8. Latin America Bronchoscopes Market Analysis 2013-2021 and Forecast 2022-2028 9. Europe Bronchoscopes Market Analysis 2013-2021 and Forecast 2022-2028 10. Asia Pacific Bronchoscopes Market Analysis 2013-2021 and Forecast 2022-2028 11. Middle East and Africa Bronchoscopes Market Analysis 2013-2021 and Forecast 2022-2028 12. Market Structure Analysis 13. Competition Analysis 13.1. Olympus Corporation 13.2. Fujifilm Holdings Corporation 13.3. Teleflex Incorporated 13.4. KARL STORZ GmbH & Co KG 13.5. Richard Wolf GmbH 13.6. HOYA Corporation (Subs. PENTAX Medical) 13.7. Ambu A/S 13.8. Shanghai AoHua Photoelectricity Endoscope Co., Ltd. 13.9. Rochling Group 14. Forecast Factors: Relevance and Impact 15. Global Bronchoscopes Market Analysis 2013-2021 and Forecast 2022-2028 By Region 15.1. North America 15.2. Latin America 15.3. Western Europe 15.4. Eastern Europe 15.5. Asia Pacific Excluding Japan And China 15.6. China 15.7. Japan 15.8. Middle East and Africa 16. Global Bronchoscopes Market Analysis 2013-2021 and Forecast 2022-2028, By Product Type 16.1. Non-Video Bronchoscopes 16.2. Video Bronchoscopes 17. Global Bronchoscopes Market Analysis 2013-2021 and Forecast 2022-2028, By Modality 17.1. Rigid Bronchoscopes 17.2. Flexible Fibre Bronchoscopes 17.3. Mobile Bronchoscopes 18. Global Bronchoscopes Market Analysis 2013-2021 and Forecast 2022-2028, By End Users 18.1. Hospitals 18.2. Outpatient Centres 19. Global Bronchoscopes Market Analysis 2013-2021 and Forecast 2022-2028 20. Assumptions and Acronyms Used 21. Research Methodology
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Bronchoscopes Market
