Bronchoscopy Market Size to Reach USD 4.22 Billion in 2030 | Emergen Research

VANCOUVER, BC, Feb. 14, 2023 /PRNewswire/ -- The Bronchoscopy market size reached USD 2.54 Billion in 2021 and is expected to register a CAGR of 5.8% during the forecast period, according to latest analysis by Emergen Research. Rising rates of lung diseases are a major contributor to the market's revenue growth. The World Health Organization (WHO) estimates that the third most prevalent cause of death worldwide in 2020 is a chronic obstructive pulmonary disease (COPD), which claimed over 3 million lives. One of the main factors driving revenue growth is the ability of bronchoscopy technologies to assist visibility of inner anatomical complications of the respiratory system. The camera of a bronchoscope enables a medical expert to view the patient's lungs through the wider airways (bronchi). The majority of respiratory disease-related deaths are considered to be caused by imprecise respiratory tissue visualization. The bio-visualization sector has been completely transformed by bronchoscopy, which has greatly expanded the application of bronchoscopy.

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Growing bronchoscopy-related technological developments are a key driver of revenue growth. Doctors may now access lung and chest abnormalities that are visible on chest X-rays but are inaccessible with regular bronchoscopes owing to the technology. This non-invasive therapy can take the place of the more popular approaches to the bronchial tree, such as CT-guided biopsy or open chest surgery.

Drivers:

The bronchoscopy market is driven by several factors, including increasing prevalence of respiratory disorders such as chronic obstructive pulmonary disease (COPD) and lung cancer. With a rise in the smoking population and an increase in the awareness of early diagnosis and treatment of lung cancer, the demand for bronchoscopy procedures is expected to increase. Technological advancements in bronchoscopy devices, such as the development of flexible bronchoscopes and the integration of imaging technologies, are also driving market growth. Additionally, growing adoption of minimally invasive procedures, an increase in government funding for research and development in bronchoscopy, and an increase in healthcare expenditure globally, are also expected to boost the market growth. Furthermore, increasing number of geriatric population and patients suffering from asthma and tuberculosis is also expected to drive market revenue growth.

Restraints:

The bronchoscopy market also faces certain restraints, such as the high cost of bronchoscopy procedures and devices, which deter some patients from undergoing the procedure. Additionally, there is a risk of complications associated with the procedure, which may discourage patients from undergoing bronchoscopy. Furthermore, a lack of trained and skilled professionals to perform bronchoscopy procedures, limited availability of bronchoscopy services in rural and underdeveloped areas, and stringent regulations for the approval of new bronchoscopy devices, can also restrict the market growth. Reimbursement for bronchoscopy procedures is also limited in certain regions, which can affect the affordability of the procedure for patients. Limited accessibility to advanced bronchoscopy equipment in some regions and lack of awareness about bronchoscopy among patients and healthcare professionals in some regions, also can be a hindrance to the growth of the market. High maintenance cost of bronchoscopy devices and limited scope for the use of bronchoscopy in certain cases are also some of the factors which hinder the growth of the bronchoscopy market.

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Growth Projections:

The Bronchoscopy market is expected to register a CAGR of 5.8% over the forecast period and revenue is projected to increase from USD 2.54 Billion in 2021 to USD 4.22 Billion in 2030. is expected to support revenue growth of the market. Growing healthcare expenditure globally is expected to drive the revenue growth of the market.

Current Trends and Innovations:

One of the main factors driving market revenue is the expansion of research and development into the introduction of novel bronchoscopy systems to treat chronic diseases. For instance, the diagnostic bronchoscopy field has undergone a significant revolution, especially with the development of endobronchial ultrasound (EBUS) and addition of various other guided-bronchoscopy procedures. Having bronchoscopy now providing diagnosis and mediastinal staging in one procedure, these innovations have significantly altered how lung cancer is managed. In reality, mediastinum staging is now typically done with EBUS rather than cervical mediastinoscopy (CM). The scientific community is always working to improve the diagnostic capabilities of EBUS, despite the fact that it is a well-known technology at this time. The development of novel technologies is made possible by rising research activities carried out by various institutions around the world. These technologies' effectiveness makes it easier for them to enter the market.

Strategic Initiatives:

Major companies included in the market report are 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.

• On July 1, 2022, Verathon, a leading manufacturer of medical equipment launched the BFlex 2.8 Single-use Bronchoscope. Verathon's first single-use pediatric bronchoscope, the BFlex 2.8, offers the maneuverability and image quality required for pediatric bronchoscopies, airway management treatments, and lung isolation techniques.

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Scope of Research

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Emergen Research has segmented Bronchoscopy market on the basis of type, application, end-use, and region:

• Type Outlook (Revenue, USD Billion; 2019-2030)
• Flexible
• Rigid
• Others
• Application Outlook (Revenue, USD Billion; 2019-2030)
• Oncology
• Pneumonia
• Pulmonary tuberculosis
• Others
• End-use Outlook (Revenue, USD Billion; 2019-2030)
• Hospitals
• Molecular diagnostic laboratories
• Medical clinics
• Others
• Regional Outlook (Revenue, USD Billion; 2019-2030)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Benelux
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Turkey
• Rest of MEA

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