PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419080
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419080
Bronchoscopes Market size was valued at USD 2,798.88 Million in 2022, expanding at a CAGR of 7.12% from 2023 to 2030.
The main purposes of bronchoscopes are the diagnosis and treatment of various respiratory and airway conditions. These devices can be used for the detection and diagnosis of problems such obstructions, bronchopulmonary bleeding, tumors, airway stenosis, and inflammatory illnesses.
As a result of better reimbursement practices, rising rates of respiratory illnesses, and advances in technology, there has been an increase in demand for bronchoscopes. The primary driver of the market's expansion is the rising incidence of different respiratory illnesses. The World Health Organization (WHO) estimates that COPD claims the lives of approximately 3.0 million people annually. In addition, over 46,400 new cases of lung cancer are detected annually, according to Cancer Research UK. Furthermore, 58.0% of lung cancer occurrences, according to the World Cancer Research Fund International, happened in developing nations, which is related to the startlingly high incidence of a variety of respiratory illnesses.
Furthermore, the key factor driving the market for bronchoscopes is the rising prevalence of respiratory tract ailments like lung cancer and COPD (chronic obstructive pulmonary disease) due to the aging population. The main end-users of bronchoscopes are clinics, non-governmental organizations, private hospitals, and government health care facilities such Primary Health Centres (PHCs), Community Health Centres (CHCs), and District Hospitals (DHs). It is anticipated that the global increase in clinics and hospitals would present potential prospects for the bronchoscope industry. Furthermore, the governments of developing nations are taking a number of steps to improve the infrastructure for healthcare in both urban and rural areas, which should lead to improved healthcare support.
The Global Bronchoscopes Market is segmented on the basis of Product Type, Application, End-User, and Region.
The market is divided into three categories based on Product Type: rigid, flexible, and accessories. The flexible segment dominates the market. High video quality and significant cost-effectiveness of flexible products is expected to boost the market growth.
The market is divided into two categories based on Application: reusable and disposable. The reusable segment dominates the market and is likely to maintain its dominance during the forecast period. The disposable devices segment is expected to grow at fastest CAGR over the forecast period.
The market is divided into three categories based on End-User: hospitals, clinics, and others. The hospitals segment leads the market and is expected to maintain its dominance during the forecast period. Supportive development to better healthcare infrastructure is contributing to market growth.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Differentiating strategies are being used by market participants to gain a competitive edge and grow their market share. To gain a competitive advantage and cater to a substantial customer base, leading rivals are heavily emphasizing the creation of novel products. Businesses are investing a lot of money in R&D to stay innovative and enhance quality of their products. In order to improve their position in the market, major players frequently use partnerships, new product launches, mergers and acquisitions, and collaborations.
In July 2023, Ambu unveiled the Ambu VivaSight 2 SLT, the company's most recent solution for intubation and one-lung ventilation (OLV) operations, rounding up its VivaSight one-lung ventilation range.
The scope of this report covers the market by its major segments, which include as follows: