Bronchoscopy Market

According to Stratistics MRC, the Global Bronchoscopy Market is accounted for $2.7 billion in 2023 and is expected to reach $5.3 billion by 2030 growing at a CAGR of 9.9% during the forecast period. A bronchoscopy is a medical treatment that allows one to see and assess the lungs and airways. Bronchoscope is a device, which is a thin, flexible tube that is inserted into the mouth or nose, down the throat, and into the airways. Direct vision of the respiratory system is made possible by bronchoscopy, which enables treatment and diagnostic procedures for a range of lung diseases.

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. 

Market Dynamics: 

Driver: 

Growing burden of respiratory diseases and lung 

There is a growing need for diagnostic procedures like bronchoscopies due to the rising prevalence of respiratory disorders such lung cancer, chronic obstructive pulmonary disease (COPD), asthma, pneumonia, and TB. In addition, the bronchoscopy is essential for collecting tissue samples and assessing the airways in order to provide an appropriate diagnosis since these illnesses frequently need for precise staging and diagnosis. When it comes to lung-related illnesses, bronchoscopy presents an option to open operations as patient preferences move toward less intrusive methods boosting the market growth.

Restraint:

High production costs and difficulty in application

Elevated overhead costs might result in higher prices for procedures or levies to pay for these outlays. This may have an adverse effect on healthcare budgets and affordability for payers and patients equally by raising expenses for patients, insurance companies, or government healthcare programs. There may be an unequal distribution of bronchoscopy services, with fewer hospitals providing these procedures, in areas where overhead costs are too high. Patient treatment may be impacted by differences in availability to sophisticated diagnostic and therapeutic bronchoscopy services as a result of this.

Opportunity:

Technological advancements in bronchoscopy

Various therapeutic treatments within the airways, including ablation methods, bronchial thermoplasty, biopsies, stent placements, tumor removal, and the removal of foreign materials, are made possible by advanced bronchoscope technology. These features raise the bronchoscopy's utility for therapeutic applications and broaden its application beyond diagnosis. Furthermore, the comprehensive, real-time imaging of the airways and surrounding structures is made possible by virtual bronchoscopy and modern imaging modalities including electromagnetic navigation bronchoscopy (ENB) and endobronchial ultrasound (EBUS) thereby encouraging in the market growth.

Threat:

Risk of complications 

Healthcare institutions and providers may face legal and liability issues as a result of complications following bronchoscopy operations. The adherence to stringent standards of care and protocols by healthcare practitioners is necessary in order to mitigate difficulties and prevent potential lawsuits. This adds to the intricacy and caution associated with executing these treatments. Instances of problems might draw regulatory attention, leading authorities to enforce more stringent policies or quality control processes for bronchoscopy operations. To remain compliant, healthcare institutions could have to show that they are following strict guidelines, which might have an impact on how well they operate and how they use their resources impeding the growth of the market.

Covid-19 Impact

Healthcare personnel are more vulnerable to infection during bronchoscopy procedures because of their aerosol-generating nature. Consequently, steps have been taken to lower the possibility of viral transmission, including the use of disposable bronchoscopes, pre-bronchoscopy PCR testing, and personal protective equipment. The availability and demand for bronchoscopy services and equipment have been impacted by these changes in practice.  However, because bronchoscopy has a considerable risk of infection, its usefulness in diagnosing COVID-19 is still up for discussion. To determine the pandemic's long-term effects on the bronchoscopy market, more investigation is required.

The bronchoscopes segment is expected to be the largest during the forecast period

The bronchoscopes segment is estimated to have a lucrative growth, because advanced bronchoscopes provide a broad spectrum of interventional treatments, including biopsies, ablative methods, therapeutic interventions, foreign body removal, and stent installation. The market demand for bronchoscopes has increased due to its versatility in conducting both therapeutic and diagnostic treatments. Industry innovation has been spurred by manufacturers' increased competitiveness to create and market more sophisticated bronchoscopes thus businesses work hard to launch new accessories, features, and technology in an effort to expand their market share through improved and differentiated products.

The bronchial diagnosis segment is expected to have the highest CAGR during the forecast period

The bronchial diagnosis segment is anticipated to witness the highest CAGR growth during the forecast period, in order to provide individualized and targeted therapies, such as surgery, chemotherapy, radiation, or targeted therapies; it assists doctors in identifying the stage, type, and features of lung illnesses.  Healthcare professionals are increasingly depending on bronchoscopy for precise and timely diagnosis of respiratory disorders, which is driving the demand for bronchial diagnostic procedures and the bronchoscopy market. 

Region with largest share:

North America is projected to hold the largest market share during the forecast period due to factors like the rising incidence of cancer in the nation, the growing popularity of minimally invasive procedures. Moreover, the market is being driven by the fact that notable developments in medical imaging technology have made targeted cancer therapy possible and enabled interventional oncologists to incorporate image-guided treatments into routine clinical practice. In addition, statistics released by the Canadian Cancer Society in November 2022 predicted that 233,900 Canadians will receive a cancer diagnosis that year. The need of cancer prevention is highlighted by this increase in incidence, which is mostly attributable to Canada's aging and expanding population.

Region with highest CAGR:

Asia-Pacific is projected to have the highest CAGR over the forecast period, owing to government's initiatives to increase funding for cancer treatments, the commercialization of cutting-edge procedures and products and the supportive regulations surrounding their development, rising healthcare spending, and the expansion of research bases in nations such as China, Japan, and India. Additionally the promising reimbursement systems and regulatory frameworks in several nations have facilitated the uptake of bronchoscopy operations encourage the growth of the market in this region.

Key players in the market

Some of the key players profiled in the Bronchoscopy Market include Boston Scientific, Cook Medical, Ethicon.Inc, Fujifilm Holdings Corporation, Olympus Corporation, Richard Wolf GmbH, Roper Technologies, Teleflex Incorporated., Medtronic, Lymol Medical, Hoya Corporation, Karl Storz, AMBU A/S, Conmed Corporation, Broncus Medical Inc., Novatech SA and Pentax Medical  

Key Developments:

In November 2023, Boston Scientific Corporation announced the close of its acquisition of Relievant Medsystems Inc., a company that only U.S. Food and Drug Administration-cleared Intracept® Intraosseous Nerve Ablation System, a therapy to treat vertebrogenic pain that is a form of chronic low back pain.

In November 2023, Medtronic plc announced that the United States Food and Drug Administration (FDA) has approved the Symplicity Spyral™ renal denervation (RDN) system, also known as the Symplicity™ blood pressure procedure, for the treatment of hypertension.

In September 2023, Boston Scientific announced it has entered into a definitive agreement to acquire Relievant Medsystems, Inc., that has developed and commercialized the Intracept® Intraosseous Nerve Ablation System to treat vertebrogenic pain, a form of chronic low back pain.

Product Types Covered:
• Bronchoscopes
 
Components Covered:
• Imaging Systems
• Accessories
• Other Components

Usages Covered:
• Disposable
• Reusable

Applications Covered:
• Bronchial Treatment
• Bronchial Diagnosis

End Users Covered:
• Hospitals
• Ambulatory Surgery Centers
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances