New York, May 09, 2023 (GLOBE NEWSWIRE) -- Rising prevalence of chronic obstructive pulmonary disease (COPD) and lung cancer are key drivers for the growing demand for single-use bronchoscopes. Single-use Bronchoscopes Market Demand is anticipated to reach US$ 3.26 billion by the end of 2033.
The global market for single-use bronchoscopes stood at US$ 330.4 million in 2022 and is set to expand at a CAGR of 23.6% over the forecast period (2023 to 2033).
Among the diagnostic and therapeutic uses of bronchoscopes are the detection of lung cancer, lung infections, and airway blockages. Additionally, tracheoesophageal fistulas, TB, pneumonia, sarcoidosis, and other respiratory diseases can also be detected with bronchoscopes. Cryotherapy, endobronchial brachytherapy, photodynamic therapy, laser bronchoscopy, and other therapies are also used during therapeutic bronchoscopies to treat benign airway stenosis.
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The major advantage of using disposable bronchoscopes is the reduced risk of cross-contamination, which not only helps in the prevention of infections but also increases the efficiency of the device. These devices are minimally invasive in nature, which reduces pain post bronchoscopy, and also serve as cheaper alternatives to reusable endoscopes. Efforts are underway in research and development to produce single-use bronchoscopes with more advanced technology.
The market is expanding because of new product approvals as well as the rising trend of minimally invasive techniques for examining the airway and tracheobronchial tree for respiratory tract illnesses. The benefits of switching to single-use endoscopes for manufacturers include providing devices that need less maintenance overall, in addition to eliminating any potential infections.
Reusable bronchoscopes necessitate significant investments in expensive sterilizing equipment, cleaning agents, additional reprocessing personnel, and increased operating expenses for healthcare facilities. These challenges are absent with single-use bronchoscopes, leading to increased competition among manufacturers for new and innovative single-use products in the market.
Key Takeaways from Market Study
- The global single-use bronchoscopes market is set to expand at 23.6% CAGR from 2023 to 2033 and reach US$ 3.26 billion by 2033.
- Regular-size single-use bronchoscopes held 34.8% share of the global market by value in 2022.
- Bronchoscopy suites occupied 44.5% share of the global market in 2022.
- By indication, chronic obstructive pulmonary disease (COPD) held 29.5% market revenue share in 2022.
- Utilization of single-use bronchoscopes in hospitals accounted for 48.2% share of the global market in 2022.
- The U.S. held 30.2% share of the global market in 2022.
“The global market for single-use bronchoscopes is anticipated to witness steady growth due to their cost-effectiveness, ease of use, and efficiency in controlling and preventing infections,” according to a researcher at Persistence Market Research.
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Market Competition
Leading companies are utilizing innovation, product development, and product introduction as key strategies to maintain their competitive edge, expand their product offerings, and tap into new markets.
- For instance, Boston Scientific received approval from the U.S. FDA in August 2021 for its disposable bronchoscopes, eliminating the risk of infection that is commonly associated with reusable bronchoscopes.
- In April 2023, Verathon®, a top manufacturer of medical equipment, launched its latest single-use bronchoscope, the BFlexTM, which represents the newest iteration of its product line.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the single-use bronchoscopes market in its latest study, presenting a historical demand assessment for 2018 to 2022 and projections for 2023 to 2033.
The research study is based on product (regular, slim, ultra-slim, extra-large), usage (bedside procedures, emergency rooms, bronchoscopy suites, ICUs), indication (lung cancer, pulmonary infections, interstitial lung disease, tuberculosis, COPD, and cystic fibrosis), and end user (hospitals, ambulatory surgical centers, specialty clinics, diagnostic centers), across 10 key regions of the world.
For additional insights on how the growth of the single-use bronchoscopes market will unfold over the decade, write to the analyst at media@persistencemarketresearch.com
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