PUBLISHER: Grand View Research | PRODUCT CODE: 1363379
PUBLISHER: Grand View Research | PRODUCT CODE: 1363379
The global disposable bronchoscope market size is expected to reach USD 1.70 billion by 2030, registering a CAGR of 13.8% over the forecast period, according to a new report by Grand View Research, Inc.. Growing incidence rate of chronic respiratory disorders, such as COPD, lung stenosis, lung cancer, tumors, bronchitis, pneumonia, and lung infections, and the growing demand for same-day surgeries or minimally invasive procedures, which result in shortened hospitalization, quicker recovery, and reduced postoperative care, are driving the growth. The growing awareness levels of product benefits, such as reduced infection and contamination rate, are also positively impacting the market growth. Frequent product approvals are broadening the product portfolio of key players and catering to the growing need for disposable bronchoscopes.
The outpatient facilities dominated the end-use segment in 2022 with a revenue share of 53.3% owing to the favorable reimbursement policies, advancing healthcare infrastructure, higher adoption, and high utilization rates of disposable devices. Cost-effectiveness associated with disposable bronchoscopes compared to reusable devices is driving the adoption rate of these devices in outpatient facilities. Shortened procedure time, minimal discomfort, enhanced patient satisfaction, reduced postoperative care, and quicker recovery time are boosting the adoption of these devices in outpatient facilities. North America dominated the market in 2022 with a revenue share of 40.9%.
The healthcare industry in North America readily adopts advanced technologies, which supports market growth. Moreover, the growing prevalence of chronic lung disorders, rising geriatric population, advancing healthcare infrastructure, presence of key players, and growing healthcare expenditure are driving the regional market growth. However, Asia Pacific is anticipated to register a significant CAGR over the forecast period owing to the presence of lesser regulatory frameworks, a rapidly growing population suffering from chronic lung diseases, and increasing growth opportunities attracting international investors and key players to set up manufacturing facilities and distribution centers in Asia Pacific countries to expand business footprint.