Bronchoscopes Market Synopsis:
The rising demand for minimally invasive procedures to conduct bronchoscopy is expected to fuel demand for bronchoscopes in the years to come. Market Research Future (MRFR) has found out in its latest study that the global bronchoscopes market is expected to reach a valuation of USD 2,244.4 Mn by the end of the forecast period (2016-2023) striking a CAGR of 7.4%.
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The rising burden of respiratory and airway diseases are likely to catalyze the growth of the bronchoscopes market over the next couple of years. In addition, the rising prevalence of lung cancer is another major factor anticipated to boost the revenue growth of the bronchoscopes market in the years to come. According to the American Cancer Society, lung cancer is the leading cause of cancer death, and 228,150 new cases are estimated to be registered in the U.S. in 2019. The statistical observation offered by the organization further suggested that the death toll due to lung cancer in the U.S. is expected to reach 142,670 mark by the end of 2019.
Technological developments are projected to act as growth catalysts for the bronchoscopes market over the assessment period. In addition, factors such as increasing older population, rising healthcare expenditure, etc. are anticipated to catalyze the expansion of the market in the upcoming years. However, the high cost of the device remains an impediment to market growth.
Bronchoscopes Market- Segmentation:
By type, the global bronchoscopes market has been bifurcated into rigid bronchoscopes and flexible bronchoscopes. The flexible bronchoscopes segment has been further sub-divided into fiber optic bronchoscopes and video bronchoscopes.
By application, the bronchoscopes market has been bifurcated into diagnosis and surgical procedure. The diagnosis segment has been sub-segmented into examination, bleeding lungs, chronic cough, patient’s airways, possibility of lung cancer, and obtain tissue specimen for biopsy. Furthermore, the surgical procedure segment has been sub-segmented into removal of a foreign object in the airway, lung abscess, laser resection of tumors, percutaneous tracheostomy, stent insertion, and tracheal intubation.
By end-user, the global bronchoscopes market has been segmented into hospitals & clinics, diagnostic centers, and others.
Bronchoscopes Market- Regional Analysis:
By region, the global bronchoscopes market has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is expected to hold the most substantial share of the global market and maintain its prominence through the review period. The region has a huge patient population which is likely to have a positive influence on the growth trajectory of the market over the next few years. Europe is anticipated to retain its second position in the global marketplace over the review period expanding at a CAGR of 6.9%. Asia Pacific is projected to exhibit rapid development, whereas the Middle East & Africa is expected to grow at a limited pace over the next few years.
Bronchoscopes Market- Competitive Dashboard:
The key players of the global bronchoscopes market profiled in this MRFR report are Boston Scientific Corporation (US), Ambu Inc. (US), Cogentix Medical (US), Guangzhou MeCan Medical Limited (China), Olympus Corporation (Japan), Fujifilm Holdings Corporation (Japan), Pentax Medicals (Japan), Schindler Endoskopie Technologie Gmbh (Germany), KARL STORZ GmbH & Co. KG (Germany), Schölly Fiberoptic Gmbh (Germany), Hangzhou EndoTop Medi-Tech Co., Ltd. (China), Vimex Sp. (Poland), and LocaMed (UK).
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In February 2019, Paris-based Mauna Kea Technologies received 510(k) clearance from the U.S. Food & Drug Administration (FDA) for using Cellvizio AQ-Flex 19 Confocal Miniprobe through existing bronchoscopes and other equipment for the detection of lung cancer.
In January 2019, the U.S. Food and Drug Administration (FDA) has granted approval for Olympus‘ Spiration Valve System (SVS) which is a minimally invasive treatment for a progressive form of chronic obstructive pulmonary disease (COPD), severe emphysema.
In June 2018, the Zephyr Endobronchial Valve (Zephyr Valve), a new device designed for the treatment of severe emphysema was approved by the U.S. Food and Drug Administration (FDA).
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