The global bronchoscope market is evaluated at US$281.414 million for the year 2019.
A bronchoscope is a medical instrument that is inserted through the nose or mouth and allows the doctor to view, examine and treat the airways or lungs. A bronchoscopy is performed to diagnose lung disease, tumor, chronic cough, infection, or other diseases of the lungs. The device is also used to remove obstructions or tumors from the air passages or lungs or to place a small tube to hold open an airway (stent). The market is majorly driven by rising incidences of the respiratory tract diseases such as lung cancer, COPD, and respiratory tract infections, which are anticipated to surge the demand for bronchoscopes during the assessment period. Also, the growing adoption and demand for minimally invasive surgeries are projected to boost the growth of the global bronchoscope market in the coming years. However, the high cost of bronchoscopes and the risk of infection associated with the bronchoscopy procedures might restrain the growth of the market during the forecast period.
The recent outbreak of the novel coronavirus disease had a positive impact on the global bronchoscope market. The pandemic shifted the major focus of the healthcare system towards COVID-19 and as part of the COVID-19 restrictions, a large number of procedures and surgeries had to be canceled in many parts of the world, which led to a decline in the global bronchoscope market in 2020. Although bronchoscopy was performed in COVID-19 patients with severe respiratory illness, the decline in the number of bronchoscopy procedures was greater. However, as the restrictions are being eased in most parts of the world, the market is anticipated to recover and continue at its normal pace from the year 2022 onwards.
Rising prevalence of respiratory diseases.
According to the Global Burden of Disease Study 2017 by the Institute for Health Metrics and Evaluation (IHME), the prevalence of chronic respiratory disease increased by around 40% from 1990 to 2017 with an estimated 545 billion people suffering from chronic respiratory disease in 2017. Also, an estimated 3.9 million people died due to chronic respiratory diseases in 2017 and witnessed a surge of 18% since 1990. Chronic respiratory disease causes the third most number of deaths in the world and is just behind cardiovascular diseases and neoplasms. Forum of International Respiratory Societies states that nearly 65 million people suffer from chronic obstructive pulmonary disease (COPD) while 3 million die from it each year. Also, asthma is the most common disease in children worldwide and affects 14% of the children globally, while the total number of asthma patients is 334 million. The cases of asthma in children are increasing over the years. This rise has made the role of bronchoscopes even more prominent in diagnosing and treating respiratory diseases, which is anticipated to propel the growth of the global bronchoscope market during the forecast period.
Growing demand for minimally invasive surgeries.
The rise in the adoption and demand for minimally invasive surgeries, due to its various advantages over traditional surgeries, is prompting increased use of Bronchoscope which is anticipated to propel the growth of the global Bronchoscope market during the forecast period. The minimally invasive surgery requires smaller incisions and consequently less scarring which are some of the reasons for its rising preference. The minimally invasive surgeries reduce the hospital stay time for the patient and have shorter recovery periods, along with providing increased accuracy, which is prompting the demand for minimally invasive surgeries. Another article published in February 2020 in US NLM, NIH, showed that the open surgical procedures declined by nearly 35% from 2000 to 2018 and are being replaced by minimally invasive surgeries. This rising demand is expected to grow further in the coming years and is anticipated to boost the global Bronchoscope market growth during the forecast period.
North America to hold a significant market share.
Geographically, the North American region is anticipated to hold a significant market share owing to a large presence of chronic respiratory diseases and lung cancer. Also, the widespread adoption of minimally invasive surgeries in the region, along with favorable reimbursement policies is projected to boost the growth of the bronchoscope market in North America. The Asia Pacific region is anticipated to witness substantial growth due to increased investment in healthcare leading to the availability of requisite healthcare facilities in the region. Also, a surge in the number of lung cancer cases and a rise in respiratory diseases due to high levels of pollution in countries like China and India is further anticipated to propel the market growth in the Asia Pacific region during the forecast period.
|Market size value in 2019||US$281.414 million|
|Growth Rate||CAGR of during the forecast period|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Usability, Application, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Boston Scientific Corporation, Olympus Corporation, Richard Wolf GmbH, PENTAX Medical, NeoScope Inc., Ambu A/S, KARL STORZ, Fujifilm Holdings Corporation, Lymol Medical, Novatech SA|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of global bronchoscope market?
A1. The global bronchoscope market is evaluated at US$281.414 million for the year 2019.
Q2. Who are the major players in the bronchoscope market?
A2. Prominent key market leaders in the bronchoscope market include Boston Scientific Corporation, Olympus Corporation, Richard Wolf GmbH, PENTAX Medical, NeoScope Inc., Ambu A/S, KARL STORZ, among others.
Q3. How is the global bronchoscope market segmented?
A3. The global bronchoscope market has been segmented by type, usability, application, end-user, and geography.
Q4. What factors are anticipated to drive the bronchoscope market growth?
A4. The bronchoscope market is majorly driven by rising incidences of the respiratory tract diseases such as lung cancer, COPD, and respiratory tract infections.
Q5. Which region holds the largest market share in the bronchoscope market?
A5. Geographically, the North American region is anticipated to hold a significant share in the bronchoscope market owing to a large presence of chronic respiratory diseases and lung cancer.