Global Statistics Representing Bronchoscopes Market Scenario
A bronchoscopy is an endoscopic technique used in diagnostic and therapeutic processes to study the inner pathways of the respiratory tract. Bronchoscopes are used for the diagnosis of multiple respiratory and airway diseases such as blockages, bronchopulmonary hemorrhage, chronic obstructive pulmonary diseases (COPD), tumors, and airway stenosis.
High prevalence of respiratory diseases such as COPD, asthma, and respiratory infectious around the globe is accelerating demand for bronchoscopes. According to the World Health Organization, in 2016, around 251 million cases of COPD were diagnosed globally. Additionally, high prevalence of different respiratory diseases due to increasing air pollution is supporting market growth. Moreover, increasing number of smokers, who are more susceptible to respiratory disorders, is also expected to contribute significantly to market growth.
The global bronchoscopes market accounted for over USD 1,700 Million in terms of value in 2017 and is expected to grow at a CAGR of 9.8% during the forecast period, 2019–2026.
The global bronchoscopes market can be segmented by product, usability, application, end-user and region.
On the basis of product, the market can be segmented into rigid bronchoscopes, flexible bronchoscopes and accessories. The flexible segment is expected to hold a major market share, owing to the high video quality and cost effectiveness of this product type.
On the basis of usability, the market can be segmented into disposable and reusable. The reusable segment is expected to hold a major market share owing to the multi-use and cost-effective benefits associated with reusable bronchoscopes.
Based on application, the market can be segmented into diagnosis, treatments. The diagnosis segment is projected to hold a major market share, owing to the early diagnosis of respiratory diseases.
Based on end user, the market can be segmented into hospitals, clinics and & ambulatory surgical centers (ASCS) and others. Among these, the hospitals segment is expected to hold a major market share during the forecast period.
Geographically, the global bronchoscopes market has been segmented into North America, Europe, Asia- Pacific, and LAMEA.
North America is expected to dominate the market during the forecast period. High prevalence of respiratory diseases such as asthma, Chronic Obstructive Pulmonary Disease (COPD), pulmonary fibrosis, pneumonia, and lung cancer is positively influencing demand for bronchoscopes. According to the World Bank Group report, in 2016, an estimated 35.11% of the total U.S. population were e-cigarette users. Increasing prevalence of smoking is a crucial factor providing impetus to the increasing incidences of lung diseases, which further drives market growth. Additionally, changing lifestyles, modernization, and other environmental changes are pegged to be some of the other factors supporting market growth.
Europe holds the second largest share of the global bronchoscopes market. A report published by the European Lung Foundation in 2013 estimated that one in eight people die due to respiratory diseases and at least 6 million are hospitalized for lungs diseases. Further, it also estimated that 20% of deaths occur due to the lung cancer.
Asia Pacific is expected to account for a significant share of the global bronchoscopes market, owing to the growth opportunities present in China, Japan and India. Factors such as mandatory healthcare insurance, increased healthcare expenditure, rising technological advancements, and increasing number of global companies are boosting market growth in the region.
The LAMEA region is expected to witness sluggish growth in the global market during the forecast period, owing to the poor healthcare infrastructure and slow growth of economies in Africa. However, growing urbanization, improving healthcare infrastructure, and high disposable income in the Middle East countries are projected to drive market growth.
Some of the key players in the bronchoscopes market include Olympus Corporation, Karl Storz, Hoya Group, Boston Scientific Corporation, Fujifilm Holdings Corporation, Ambu Inc., Cogentix Medical., Teleflex Incorporated, Richard Wolf GMBH, and Cook Medical.
Bronchoscopes Market Segmentation
By End User
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