Dublin, Oct. 29, 2024 (GLOBE NEWSWIRE) -- The "Bronchoscope - Market Insights, Competitive Landscape, and Market Forecast - 2030" report has been added to ResearchAndMarkets.com's offering.
The global bronchoscopes market was valued at USD 17.89 billion in 2023, growing at a CAGR of 7.43% during the forecast period from 2024 to 2030 to reach USD 27.48 billion by 2030.
The overall market for bronchoscopes is significantly boosted by several interrelated factors. The rising burden of chronic respiratory diseases creates a growing demand for advanced diagnostic and therapeutic tools, including bronchoscopes, to manage and treat these conditions effectively. Furthermore, the surge in cigarette smoking further exacerbates respiratory issues, increasing the need for bronchoscope evaluations and interventions.
Additionally, heightened awareness and the implementation of screening programs for early detection of respiratory diseases drive more individuals to seek bronchoscope procedures, contributing to market growth. Furthermore, the continuous increase in product launches and approvals by key market players across the globe introduces innovative bronchoscope technologies, enhancing their capabilities and broadening their applications thereby escalating the overall market during the forecast period from 2024 to 2030.
Bronchoscope Market Dynamics:
As per the recent data provided by the Global Burden of Disease (2023), approximately, 1 in 20 people globally suffers from chronic respiratory diseases. Furthermore, as per the recent data provided by the World Health Organization (2023), smoking was a major cause of chronic obstructive pulmonary disease, a common lung condition that led to breathing difficulties and claimed over 3 million lives annually. Approximately 392 million people had COPD, with about 75% living in low- and middle-income countries. In high-income countries, tobacco smoking was responsible for over 70% of COPD cases.
Chronic respiratory diseases, such as chronic obstructive pulmonary disease (COPD) and asthma, are driving significant growth in the bronchoscope market. As these conditions become increasingly prevalent, the demand for diagnostic and therapeutic tools to manage and monitor respiratory health is rising. Bronchoscopes are crucial for visualizing the airways, diagnosing disease progression, and guiding treatment interventions. The increasing incidence of chronic respiratory diseases has led to greater utilization of bronchoscopes in clinical practice, boosting market expansion.
Additionally, as per the recent data provided by GLOBOCAN, in 2022, globally the estimated new cases of trachea, bronchus, and lung cancer was 2.48 million, and the projections are expected to rise 4.25 million by the year 2045. As the incidence of lung cancer rises, there is an increased demand for advanced diagnostic tools to detect tumors early and accurately. Bronchoscopes are essential for performing bronchoscopy procedures, which allow clinicians to visualize the interior of the lungs, obtain tissue samples for biopsy, and guide targeted therapies. Enhanced bronchoscopy technologies, such as endobronchial ultrasound (EBUS) and narrow-band imaging (NBI), offer improved diagnostic capabilities, which are vital for early lung cancer detection and staging. As more patients seek timely and precise diagnosis and treatment, the growing need for sophisticated bronchoscope tools drives market expansion and innovation in this sector.
Thus, the factors mentioned above are likely to boost the market of bronchoscope during the forecasted period.
However, bronchoscopy-related procedural complications and risk of infection associated with reusable bronchoscopes may hinder the future market of bronchoscope.
Bronchoscope Market Key Players:
Some of the key market players operating in the Bronchoscope market include Boston Scientific, Ambu, Olympus, Richard Wolf, Karl Storz, FUJIFILM, PENTAX Medical (HOYA Corporation), Teleflex Incorporated, Innovex Medical Co., Ltd, Zhuhai Seesheen Medical Technology Co., EMOS Technology, Optomic., Clarus Medical, The Surgical Company, Hunan Vathin Medical Instrument Co., Aohua Endoscopy Co., Verathon, Lymol Medical, Novatech, NeoScope and others.
Recent Developmental Activities in the Bronchoscope Market:
- In May 2024, Olympus, a global medical technology company, announced the launch of two bronchoscopes as part of the EVIS X1 Endoscopy System. The EVIS X1 Endoscopy System represented the latest advancements in diagnostic and therapeutic bronchoscopy from Olympus.
- In April 2024, Moffitt launched a new robotic bronchoscopy platform that utilized fiber optics and the smallest catheter on the market to reach all areas of the lung.
Key Takeaways From the Bronchoscope Market Report Study:
- Market size analysis for current bronchoscope size (2023), and market forecast for 6 years (2024 to 2030)
- Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
- Key companies dominating the bronchoscope market.
- Various opportunities available for the other competitors in the bronchoscope market space.
- What are the top-performing segments in 2023? How these segments will perform in 2030?
- Which are the top-performing regions and countries in the current bronchoscope market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for bronchoscope market growth in the coming future?
Key Topics Covered:
1. Bronchoscope Market Report Introduction
2. Bronchoscope Market Executive Summary
2.1. Market at Glance
3. Competitive Landscape
4. Regulatory Analysis
4.1. The United States
4.2. Europe
4.3. Japan
4.4. China
5. Bronchoscope Market Key Factors Analysis
5.1. Bronchoscope Market Drivers
- Rising burden of chronic respiratory diseases
- Increasing risk factors associated with respiratory disorders
- Growing product launches and approvals by key market players across the globe
5.2. Bronchoscope Market Restraints and Challenges
- Bronchoscopy-related procedural complications
- Risk of infection associated with reusable bronchoscopes
5.3. Bronchoscope Market Opportunities
- Ongoing innovations in bronchoscopy, such as the ultra-thin, flexible bronchoscopes, robotic-assisted systems, and advanced imaging techniques (like 3D imaging)
6. Bronchoscope Market Porter's Five Forces Analysis
7. Bronchoscope Market Assessment
7.1. By Product Type
7.1.1. Rigid Bronchoscopes
7.1.2. Flexible Fiber Bronchoscopes
7.1.3. Flexible Video Bronchoscopes
7.1.4. Mobile Bronchoscopes
7.2. By Flexibility
7.2.1. Flexible Bronchoscopes
7.2.2. Rigid Bronchoscopes
7.3. By Usability
7.3.1. Single-Use Bronchoscopes
7.3.2. Reusable Bronchoscopes
7.4. By End-User
7.4.1. Hospitals
7.4.2. Specialty Clinics
7.4.3. Others
7.5. By Geography
8. Bronchoscope Market Company and Product Profiles
- Boston Scientific
- Ambu
- Olympus
- Richard Wolf
- Karl Storz
- FUJIFILM
- PENTAX Medical (HOYA Corporation)
- Teleflex Incorporated
- Innovex Medical Co.
- Zhuhai Seesheen Medical Technology Co.
- EMOS Technology
- Optomic
- Clarus Medical LLC
- The Surgical Company
- Hunan Vathin Medical Instrument Co.
- Aohua Endoscopy Co.
- Verathon
- Lymol Medical
- Novatech
- NeoScope
For more information about this report visit https://www.researchandmarkets.com/r/w521jw
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