Chicago, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Bronchoscopy Market is projected to grow from USD 2.5 billion in 2022 to USD 3.7 billion by 2027, at a CAGR of 7.9% from 2022 to 2027, according to a new report by MarketsandMarkets™. The growth in this market growth is largely driven by the rising prevalence of respiratory diseases, the growing demand for minimally invasive surgeries, growing hospital investments in bronchoscopy facilities, and technological advancements in bronchoscopes. On the other hand, the dearth of trained physicians and pulmonologists is a major challenge to the growth of this market.
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“The adult patients are accounted to hold the largest share of the bronchoscopy market, by patients in 2021.”
On the basis of patients, the bronchoscopy equipment market is segmented into adult patients and pediatric patients. The adult patients segment accounted for the larger share of the market in 2021. The large share of this segment can be attributed to the high image quality achieved through reusable bronchoscopes and the availability of reusable accessories.
“The hospitals is accounted to hold the largest share of the bronchoscopy market, by end users in 2021.”
Based on end users, the bronchoscopy equipment market is segmented into hospitals and ambulatory surgery centers/clinics. The hospitals segment accounted for the largest share of the market in 2021. The large share of this segment can be attributed to the high patient preference for hospital treatment, availability of skilled healthcare professionals, and favorable reimbursement scenario.
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“North America accounted the largest share of the bronchoscopy market in 2021.”
The large share of the North American market can be attributed to the increasing incidence and prevalence of chronic respiratory diseases, favorable reimbursement scenario in the US, the rising incidence of lung cancer in Canada, rapid increase in healthcare expenditure, easy accessibility to advanced technologies, and the strong presence of market players in the region
The major players operating in this bronchoscopy equipment market are Olympus Corporation (Japan), KARL STORZ (Germany), Ambu A/S (Denmark), Boston Scientific Corporation (US), Ethicon (US), FUJIFILM Holdings Corporation (Japan), Medtronic (Ireland), HOYA Corporation (Japan), Richard Wolf GmbH (Germany), Cook Medical (US), Broncus Medical Inc. (China), CONMED (US), Roper Technologies (US), Teleflex Incorporated (US), Laborie Medical Technologies Corp. (Canada), EFER Endoscopy (France), EMOS Technology GmbH (Germany), VBM Medizintechnik GmbH (Germany), Hunan Vathin Medical Instrument Co., Ltd. (China), and Machida Endoscope Co., Ltd. (China)
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