Market Size of Bronchoscope Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Bronchoscope Market Analysis
The bronchoscope market is expected to register a CAGR of 7.2% over the forecast period.
The application of a bronchoscope for examining COVID-19 and associated diseases has positively impacted the market's growth. Pneumonia caused by COVID-19 was likely to cause hypoxemia and respiratory failure, necessitating a bronchoscope for the examination. For instance, as per an article published by the European Respiratory Society, in April 2021, in critically ill patients with COVID-19, bronchoscopy allows the removal of mucus plugs and intrabronchial clots and the resolution of atelectasis, thereby improving mechanical ventilation. Furthermore, according to Ambu A/S annual report, 2021/22, the bronchoscopy industry experienced challenges due to high market inventories and greater competition, particularly in the American market, brought on by the high comparative from 2020/21. Despite the year's lower performance compared to pre-COVID-19, bronchoscopy business revenue worldwide increased by 70%, indicating the switch from reusable endoscopy to single-use equipment. Therefore, the COVID-19 pandemic has profoundly impacted the bronchoscope market since the pandemic.
The growing burden of respiratory diseases and lung cancer, hospital investment in bronchoscopy facilities, and technological advancements are expected to drive the bronchoscope market. For instance, as per the American Cancer Society 2022, lung cancer (both small and non-small cell) is the second most common cancer in both men and women in the United States. Furthermore, according to the Forum of International Respiratory Societies report 2022, approximately 200 million people are estimated to have COPD, and 262 million are affected by Asthma. With such a high prevalence of respiratory disease and a rise in cancer cases, the demand for bronchoscopes is expected to increase to diagnose this disease, eventually driving the market.
Moreover, market players frequently launch new products and adopt various growth strategies in their respective segments, likely to drive market growth. For instance, in April 2021, Olympus announced the expansion of its respiratory portfolio with the launch of our first line of single-use bronchoscopes, the H-SteriScopes. Veran Medical Technologies, Inc., a wholly owned Olympus subsidiary, and Hunan Vathin Medical Instrument Co., Ltd. worked together to launch the H-SteriScope range. Additionally, in May 2021, PENTAX Medical Europe obtained a CE mark for its new single-use bronchoscope - the PENTAX Medical ONE Pulmo. This innovative product provides high-quality care without compromising pulmonary care. The PENTAX Medical ONE Pulmo is a single-use bronchoscope with superior suction power and HD image quality.
Thus, the abovementioned factors are impacting the market growth of the bronchoscope market. However, the high overhead cost of bronchoscopy procedures will hinder market growth over the forecast period.
Bronchoscope Industry Segmentation
As per the scope, a bronchoscope is used in examining the trachea, windpipe, and lungs, and it mainly consists of a hollow metal tube or a thinner tube with an attached fiberoptic or video camera for transmitting the image. The Bronchoscope Market is Segmented by Product Type (Rigid, Flexible, and Accessories), Usage (Single Use Bronchoscope and Reusable Bronchoscope), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
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| Rigid | |
| Flexible | |
| Accessories |
| By Usage | |
| Single Use Bronchoscope | |
| Reusable Bronchoscope |
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Bronchoscope Market Size Summary
The bronchoscope market is poised for significant growth, driven by the increasing application of bronchoscopes in diagnosing and treating respiratory diseases, including those associated with COVID-19. The pandemic has underscored the importance of bronchoscopes in managing complications such as hypoxemia and respiratory failure, thereby boosting market demand. The shift from reusable to single-use bronchoscopes, prompted by the need for enhanced infection control, has further fueled market expansion. Technological advancements and new product launches by key players, such as Olympus and PENTAX Medical, are also contributing to the market's growth trajectory. These innovations are aimed at improving patient care and addressing the rising prevalence of respiratory conditions and lung cancer, which are driving the demand for bronchoscopic procedures.
North America is expected to maintain a substantial share of the bronchoscope market, supported by a high volume of procedures and a significant burden of respiratory diseases like COPD and lung cancer. The region's market growth is further bolstered by regulatory approvals and strategic partnerships, as seen with companies like Ambu Inc. and Olympus Corporation. The fragmented nature of the market, with numerous global and regional players such as Teleflex Inc., Karl Storz GmbH, and Boston Scientific Corporation, indicates a competitive landscape that is likely to foster innovation and expansion. Despite challenges like high procedure costs, the overall market outlook remains positive, with ongoing advancements and strategic initiatives expected to drive growth over the forecast period.
Bronchoscope Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Burden of Respiratory Diseases and Lung Cancer
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1.2.2 Growing Hospital Investment in Bronchoscopy Facility
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1.2.3 Technological Advancements
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1.3 Market Restraints
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1.3.1 High Overhead Cost of Bronchoscopy Procedure
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Product Type
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2.1.1 Rigid
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2.1.2 Flexible
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2.1.3 Accessories
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2.2 By Usage
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2.2.1 Single Use Bronchoscope
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2.2.2 Reusable Bronchoscope
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Bronchoscope Market Size FAQs
What is the current Bronchoscope Market size?
The Bronchoscope Market is projected to register a CAGR of 7.20% during the forecast period (2024-2029)
Who are the key players in Bronchoscope Market?
Teleflex Inc., Olympus Corporation , Ambu A/S, Karl Storz GmbH and Fujifilm Holdings Corporation are the major companies operating in the Bronchoscope Market.
