Bronchoscopy is an endoscopic technique of visualizing the airways for diagnostic and therapeutic purposes. Bronchoscope is inserted into the airways, usually through the nose or mouth, or occasionally through trachea which allows the practitioner to examine the abnormalities in patient airways for foreign bodies, tumors, bleeding, or inflammation. There are a variety of bronchoscopes, introduced for different diagnostic requirements, owing to the different advantages flexible bronchoscopes have over rigid bronchoscopes. The major driving factors for the growth of the market are increasing prevalence of the different respiratory procedures, increase in preference for minimally invasive procedures, and rising geriatric population. At the University of Chicago Medicine, over 70% of major lung resection surgeries are performed using minimally invasive techniques. Moreover, increasing patient inflow, rising healthcare expenditure and increasing government support have provided push for the growth of the market. On the other hand, the average cost of the bronchoscopes is around USD 2500 – USD 3500. Thus, high cost of the bronchoscopes may restrain the growth of the market.
The global Bronchoscopes Market is growing continuously and expected to grow at a CAGR of 7.4% from 2017 to 2023
Considering the global scenario of the bronchoscopes market, there are four main regions: America, Europe, Asia Pacific, and the Middle East Africa.
America accounts for the largest market owing to the huge patient inflow due to increasing prevalence of chronic respiratory diseases, well-developed healthcare sector, increasing geriatric population, and high healthcare spending. America consists of two regions namely, North America and South America. North America is the major market share holder owing to increasing number of hospitals and healthcare organization and huge patient pool in this region. According to the American Hospital Association, in 2016, total number of all US Registered Hospitals was 5,564. Additionally, according to the American Lung Association, lung cancer affects more than 370,000 Americans each year.
Europe commands the second largest market share in global bronchoscopes. Some major factors that attribute the growth of Europe bronchoscopes market are, huge patient population, well-developed healthcare facilities, and increasing government support. Germany, the UK and France are the major contributor in the Europe bronchoscopes market.
Asia Pacific is the fastest growing market. Improving healthcare sector, rapidly growing economies, presence of huge patient population, and presence of huge opportunities for the development of the market has driven the growth for this market in Asia Pacific. Whereas, the Middle East Africa accounts for the lowest share in the global bronchoscopes market.
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The global bronchoscopes market is segmented on the basis of type, application, and end users.
On the basis of type, the market is segmented into rigid bronchoscopes, and flexible bronchoscopes. Flexible bronchoscopes are further sub-segmented into fiber optic bronchoscopes, and video bronchoscopes.
On the basis of application, the market is segmented into diagnosis, and surgical procedure. Diagnosis is further segmented into examination, patient’s airways, bleeding lungs, possibility of lung cancer, chronic cough, and obtain tissue specimen for biopsy. Surgical procedure is further segmented into removal of a foreign object in the airway, laser resection of tumors, lung abscess, stent insertion, percutaneous tracheostomy, and tracheal intubation.
On the basis of end user, the market is segmented into hospitals clinics, diagnostic centers and others.
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Major players in bronchoscopes market
Some of the major players in this market: Ambu Inc. (US), Boston Scientific Corporation (US), Cogentix Medical (US), Fujifilm Holdings Corporation (Japan), Olympus Corporation (Japan), Pentax Medicals (Japan), and KARL STORZ GmbH Co. KG (Germany), Schindler Endoskopie Technologie Gmbh (Germany), Schölly Fiberoptic Gmbh (Germany), Vimex Sp. (Poland), Hangzhou EndoTop Medi-Tech Co., Ltd.(China), Guangzhou MeCan Medical Limited (China), and LocaMed (UK)