Global Bronchoscopes Market – Highlights
According to a recent study report published by the Market Research Future analysts, the global bronchoscopes market is growing at a moderate pace; mainly due to increasing prevalence of respiratory tract diseases such as lung cancer, and COPD among others; increasing preference for minimally invasive procedures, and increasing number of bronchoscopy procedures.
Increasing geriatric population, and changing environmental conditions leading to high air pollution have also fuelled the growth of the market. The market for bronchoscopes is growing at a healthy pace. The market is expected to grow at the CAGR of 7.4% during the forecast period and is estimated to reach USD 2,244.4 million by 2023.
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That being said, there are few obstacles as well in this market. Increased incidence of infection by bronchoscopes, and high costs of the bronchoscopes which may affect the growth of this market.
Boston Scientific Corporation
Schindler Endoskopie Technologie Gmbh etc.
Global Bronchoscopes Market – Regional Analysis
The Americas accounts for the major share of the market owing to the huge patient population, well-developed technology, and high healthcare expenditure. According to the Centers for Disease Control and Prevention, in 2015, the number of adults with diagnosed chronic bronchitis and emphysema were 9.3 million and 3.5 million respectively. Additionally, according to the American Thoracic Society, in 2012, chronic obstructive pulmonary disease (COPD) affects 6.8 percent of adults and was responsible for about 700,000 hospitalizations and 127,000 deaths annually in the US. People in this region are health conscious and are willing to spend more on healthcare. According to the Centers for Medicare & Medicaid Services, in 2015, the U.S. healthcare spending increased by 5.8% and reached USD 3.2 trillion, and the healthcare spending in the U.S. in 2014 was USD 9,532 per person.
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Europe accounts for the second largest market, which is followed by Asia Pacific. Increasing government support for research & development, well-developed healthcare infrastructure, and presence of geriatric population have driven the bronchoscopes market. Asia Pacific is the fastest growing bronchoscopes market owing to rapidly changing healthcare sector, and the presence of huge opportunities for the development of this market. However, the Middle East & Africa has the least share in the market owing to the presence of poor and slow developing countries, especially, in African region. The Middle East holds the major share of the regional market due to well-developed technology and high spending.
The global bronchoscopes market is segmented on the basis of types, application, and end users.
On the basis of types, the market is segmented into rigid bronchoscopes, and flexible bronchoscopes. Flexible bronchoscopes are further sub-segmented into fiber optic bronchoscopes, and video bronchoscopes.
On the basis of application, the market is segmented into diagnosis, and surgical procedure. Diagnosis is further segmented into examination, patient’s airways, bleeding lungs, possibility of lung cancer, chronic cough, and obtain tissue specimen for biopsy. Surgical procedure is further segmented into removal of a foreign object in the airway, laser resection of tumors, lung abscess, stent insertion, percutaneous tracheostomy, and tracheal intubation.
On the basis of end user, the market is segmented into hospitals & clinics, diagnostic centers and others.
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