(PharmaNewsWire.Com, January 26, 2021 ) Major Growth Boosting Factors: The growth of Bronchoscopy Market is primarily driven by the growing hospital investments in bronchoscopy facilities, rising demand for bronchoscopy owing to the rising prevalence of respiratory diseases, the growing demand for minimally invasive surgery, and technological advancements in bronchoscopy. However, the dearth of trained physicians and pulmonologists is the major challenge for the growth of this market.
Expected Revenue Growth: The Global Bronchoscopy 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.
Objectives of the Study;
- 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)
Segmented into bronchoscopes, imaging systems, accessories, and other bronchoscopy equipment. The 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 cost of bronchoscopes compared to the imaging systems and accessories, increasing prevalence of lung cancer, and technological advancements.
Based on end user;
The market is segmented into hospitals and ambulatory surgery centers (ASCs)/clinics. Hospitals commanded the largest share of the bronchoscopy market in 2019. The large share of this end-user segment can be attributed to the high patient preference for hospital-based treatment & procedures, availability of skilled healthcare professionals, technologically advanced facilities, and favorable reimbursement scenario.
Geographical Scenario: North America accounted for the largest share of the bronchoscopy market, followed by Europe. Factors such as increase in the incidence and prevalence of chronic respiratory diseases, favorable reimbursement scenario in the US, and rising incidence of lung cancer in Canada are contributing to the large share of North America.
The key players in the global 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).
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