New York, April 19, 2023 (GLOBE NEWSWIRE) -- The bronchoscopes market generated a value of USD 2.8 Billion in 2022 and is estimated to reach USD 7.0 billion by 2032, witnessing a CAGR of 9.9% from 2022 to 2032. Bronchoscopes are devices that have a thread that goes through the nose or mouth and into the lungs. These devices can detect blockages, COPD, and bronchopulmonary hemorhage as well as tumors, airway obstructions, and other inflammatory conditions. Bronchoscopes can be inserted through the nose, mouth, or through a tracheostomy to view distal branches of the bronchial tubes. If blood is present in the lungs, or there is a blockage of the airway from a large object, a rigid bronchoscope might be necessary.
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Key Takeaway:
- By product type, in 2022, the flexible bronchoscope segment generated the largest revenue share.
- By usage, the reusable segment has dominated the market, and it is growing at a CAGR of 10.1% over the forecast period 2023 to 2032.
- By end-user, the hospital segment accounted for the largest market share in 2022.
- In 2022, North America dominated the market with the highest revenue share of 42.8%.
- Asia-Pacific will grow at a CAGR of 10.3% from 2023-2032.
An increase in bronchoscope demand has been due to the increasing prevalence of respiratory diseases, better reimbursement policies, and technological advancement. Thus the market is expected to grow more during the forecast period. Additionally, the rising incidence of various respiratory illnesses is another important factor that favors market expansion.
Factors Affecting the Growth of Bronchoscopes Market
Several factors can affect the growth of the bronchoscopes market. Some of these factors include:
- Increasing cases of lung cancer: It is the most common form of cancer. Due to this form of cancer, the mortality rate has increased in recent years. The bronchoscopic procedure plays an important role in the detection and treatment of lung cancer. This market is expected to grow significantly over the forecast period.
- Rising geriatric population: One of the main reasons for market growth and an increase in respiratory diseases is the rising geriatric population.
- Increase in pollution: Market growth will be supported by constant exposure to polluting gases and other harmful substances in the environment, which is the key reason for respiratory problems.
- Technological Advancements: Advancements in technologies have raised the standards for diagnostic procedures, which is a key factor in increasing the demand for bronchoscopy and positively driving the growth of market.
- Emerging key players: The most common key players are involved in the development and innovation of equipment and moreover, implementing the numerous growth strategies for portfolio expansion that will support the market growth
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Top Trends in Bronchoscopes Market
Single-use flexible bronchoscopes are used by anesthetists in ICUs or perioperative settings. They perform at a higher level and are more reliable than reusable, flexible ones.
Single-use flexible bronchoscopes can be used in several clinical settings. They are more cost-effective than reusable bronchoscopes and prevent cross-contamination. These are helpful in diagnosing diseases such as lung cancer, COPD, and other conditions.
Market Growth
The bronchoscopes market is experiencing significant revenue growth due to the increased prevalence of respiratory diseases like pulmonary hemorhage, chronic obstructive lung disorder, and interstitial pneumonia. Technological advances in the bronchoscope, such as blue light bronchoscopy and white light bronchoscopy, have also led to increased applications of the bronchoscope for diagnostic and therapeutic purposes. This has supported the market growth for bronchoscopes.
Regional Analysis
The bronchoscopes market was dominated by North America, which acquired the most significant revenue share of 42.8%. Due to factors like an increase in hospitals and healthcare infrastructure, increased healthcare spending, a large patient base, and an aging population, the United States is expected to have a 91.8% market share in North America. As the United States has favourable reimbursement policies, bronchoscopes are in high demand. North America is the market leader due to the presence of major players and rising rates of lung cancer.
Asia-Pacific is expected to grow at a 10.3% CAGR over the forecast period. This market is driven by mandatory healthcare insurance, rising technology, and rising healthcare costs. There are also increasing numbers of global market players who are willing to fulfill these high unmet medical needs. The Asia-Pacific market for bronchoscopes is expected to increase by 20% in India. India's rising use of bronchoscopy and government spending on healthcare is driving demand for bronchoscopes.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 2.8 Billion |
| Market Size (2032) | USD 7.0 Billion |
| CAGR(2023 to 2033) | 9.9% |
| North America Revenue Share | 42.8% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Rising geriatric population and increasing respiratory diseases are the key driver expected to boost the market growth. Chronic respiratory conditions can affect the airways and lung structures. This can cause a decline in lung function for all ages. Early diagnosis and treatment can improve health and prevent premature death. Although CRDs can't be cured completely, they can be treated to improve quality of life and reduce symptoms. Due to the high incidence of disease and its complications, elderly patients must be treated immediately. For the diagnosis of flexible bronchoscopy findings (FB), patients over 65 years old were examined. Chronic respiratory diseases are a significant problem worldwide. Weekly outpatient clinics treat chronic lung conditions and other unidentified respiratory problems. Skilled respiratory consultants quickly diagnose and refer patients. Together all these factors are predicted to thrive the market towards growth.
As of now, there are far advanced technologies regarding bronchoscopy diagnostics. Therefore, instead of using bronchoscopic procedures, pulmonologists used to refer patients to radiologists, surgeons, and medical oncologists. This is due to the bronchoscopy ecosystem and standards, technology, and demand. More innovations are expected in the coming years. These advances have allowed respiratory therapists (RTs), to bring their expertise in scientific, clinical, and organizational areas to this rapidly developing field. The diagnostic bronchoscopy process has been made easier by real-time ultrasound and peripheral navigation. Real-time visualization has been a great help in bronchoscopy. It also helps to avoid vascular structures. Bronchoscopes can only enter the airways of the third or fourth generation. Except for ultrasound for proximal lesions, advanced bronchoscopy yields are limited by this challenge. There are now slimmer bronchoscopes with larger working channels, more angulation, better imaging, and the ability to visualize pathology.
Market Restraints
Risk of cross contamination and infection is likely to restrict the growth for bronchoscopes market. Reprocessing bronchoscopes between patients is necessary to sterilize or disinfect microorganisms. Reprocessing devices is done by cleaning, disinfecting, and sterilizing them. If the flexible bronchoscope is not properly cleaned, it can spread infection from one patient to another. To prevent blood, tissue and other biological debris drying out, surface wiping and channel flushing should be part of the pre-cleaning process. This prevents market expansion and leads to cross-contamination among patients.
Market Opportunities
Government medical care spending and the development of a reimbursement system could lead to market expansion. Bronchoscope demand increases as respiratory problems rise. According to the WHO, 65 million people have COPD. 3 million have already died, and 1.8 million suffer from lung cancer. The health of the respiratory system is affected by air pollution. Poor air quality can lead to emphysema and other respiratory issues such as asthma, allergies, sensitivities, breathing infections, COPD, and respiratory infections. Air pollution was recently declared by the WHO as the greatest environmental threat to human well-being.
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Report Segmentation of the Bronchoscopes Market
Product Type Insight
The flexible bronchoscopes segment dominated the global market in 2022. There are a variety of flexible bronchoscopes, including hybrid, fiberotrophic, and video. Because of its low price and high quality video, the flexible market segment earned the most revenue. Fiberoptic has been the dominant segment in flexible because of its numerous advantages. These include high-quality video that makes it easy to spot tumors and infections deeper in the bronchioles. Flexible bronchoscopes are likely to be beneficial for both patients and doctors. Flexible bronchoscopy is quicker to heal than rigid bronchoscopy. Hence, flexible bronchoscopes are preferable over rigid. These narrow devices can penetrate smaller lumens more deeply.
Usage Insight
The reusable category is expected to be the market's biggest contributor, growing at a 10.1% CAGR over the forecast period. Reprocessing removes soil and contaminants, while microorganisms can be sterilized or disinfected. Multiple professional pulmonary societies have issued guidelines for single-use flexible and disposable bronchoscopes (SUFB) during the ongoing pandemic. This is to reduce the risk of infection when using reusable, flexible bronchoscopes. Disposable bronchoscopes are more affordable than RFB when it comes to treating bronchoscopy-related infections. They can be carried around and are easily accessible. Because of their maneuverability and handling, angle deflection, image quality, and larger channels for passing ancillary tools, flexible bronchoscopes can still be used for advanced diagnostic or therapeutic procedures.
By End-User
Hospitals accounted for the largest revenue share in 2022. This is due to the large number of patients admitted to hospitals for care or treatment for respiratory conditions. The high prevalence of lung diseases such as asthma in the emergency rooms is driving this market. This market segment is expected to grow at 9.4% during the forecast period.
Bronchoscopic patients should take several precautions before they choose to have their surgery at a hospital. Another reason hospital are the best is because of the skilled staff who perform the bronchoscopy.
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Market Segmentation
By Product Type
- Rigid Bronchoscope
- Flexible Bronchoscope (Video, Fiberotrophic, and Hybrid)
- Other Product Types
By Usage
- Reusable Bronchoscope
- Disposable Bronchoscope
By End-User
- Hospitals
- Diagnostic Centers
- Other End-Users
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
A highly competitive market has emerged due to the increasing demand for products that can diagnose or treat various lung conditions. Market developments and regulatory approvals are positively driving market growth. Major players are using a variety of strategies to increase their market position, including mergers and acquisitions, product launches, collaborations, and partnerships.
Market Key Players:
- Teleflex Incorporated
- Olympus Corporation
- FUJIFILM Holdings Corporation Company Profile
- Ambu A/S
- Karl Storz SE & Co. KG
- Boston Scientific Corporation Company Profile
- Cogentix Medical, Inc.
- Richard Wolf GmbH
- Cook Medical.
- HOYA Corporation
- Other Key Players
Recent Development of the Bronchoscopes Market
- In May 2022, Premier, Inc. and Olympus Corporation, Olympus Corporation, a Japanese manufacturer of optics, and reprography, signed in a group buying agreement for Premier, Inc.’s single-use portfolio in the Single Use Visualization Devices category.
- In July 2022, Ambu Inc. announced that the FDA had granted 510(k) regulatory clearance to the family of single-use, sterile bronchoscopes known as Ambu aScopeTM 5 Bronchoscope.
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