Global Bronchoscopy Market is Estimated to Reach $2.2 Billion in 2019 With a CAGR of 6.1% From 2019 to 2026, Says Esticast Research

LOS ANGELES and PUNE, India, Feb. 13, 2020 /PRNewswire/ -- Rising Prevalence of Lung Diseases and Increasing Preference for Minimally Invasive Surgery are Expected to Propel the Growth of the Global Bronchoscopy Market at A CAGR of 6.1% during the Forecast Period, 2019-2026.

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The increasing prevalence of respiratory diseases globally is a key factor catalyzing market growth. According to the data published by the American Cancer Society, in the U.S., nearly 228,820 new cases of lung cancer are expected to occur in 2020. Factors such as the increasing uptake of minimally invasive surgery, rising investments by hospitals in bronchoscopy facilities, and technological advancements in bronchoscopy are expected to drive the market growth during the assessment period. For instance, in April 2018, the All India Institute of Medical Sciences (AIIMS) installed a Virtual Bronchoscopy Navigation (VBN), an advanced facility for the treatment and diagnosis of patients with small tumor-like spots in the lungs. Despite the drivers, factors such as the lack of trained pulmonologists and physicians, product recalls, and risk of contamination of devices may negatively impact the growth of the market.

The global bronchoscopy market has been segmented into product, usability, patient age, application, and end-user. The product segment is classified into bronchoscopes, imaging systems, accessories, and others. Further, bronchoscopes has been sub-segmented into flexible bronchoscopes, rigid bronchoscopes, and ebus bronchoscopes. The imaging system has been sub-segmented into light sources, video processors, camera heads, wireless display and monitors, and others. The accessories has been sub-segmented into cleaning brushed, cytology brushes, biopsy forceps, Transbronchial aspiration needles, biopsy valve, mouthpieces, and others. The usability segment has been classified as disposable and reusable bronchoscopes. By patient age, the market has been segmented into pediatric patients and adults. The application segment has been classified into bronchial diagnosis and bronchial treatment. Furthermore, the end-user segment has been segmented into ambulatory surgery centers/clinics and hospitals.

Global Bronchoscopy Market, By Product (Bronchoscopes, Other), By Usability (disposable, reusable bronchoscope), By Patient Age (Adult Patient, Pediatric Patient), By Application (Bronchial diagnosis, other), By End-User, Estimation & Forecast, 2019 – 2026. Know more about this Report: https://www.esticastresearch.com/report/bronchoscopy-market/

Based on geography, the global bronchoscopy market has been divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America has been classified into the U.S. and Canada. Europe region has been divided into the UK, Germany, Italy, France, and the Rest of Europe. Asia-Pacific has been classified into South Korea, China, Japan, India, and Rest of Asia-Pacific. Furthermore, the South America region has been segmented into Brazil, Mexico, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Africa, and the Rest of the Middle East.  

North America is anticipated to dominate the global bronchoscopy market over the assessment period. The market growth in the region is attributed to growing incidence and prevalence of respiratory diseases, increasing prevalence of lung cancer in Canada, presence of well-established healthcare sector, and suitable reimbursement scenario in the U.S. According to the data published by the Lung Cancer Canada, in 2017, lung cancer accounted for about 28,600 new cases in Canada. In addition, nearly 14,200 women were diagnosed with lung cancer in Canada in the year 2017. The Asia Pacific region is estimated to register significant growth during the assessment period owing to the factors such as developing healthcare infrastructure, huge lung disease burden, and growing healthcare expenditure.

Prominent companies operating in the bronchoscopy industry include Karl Storz, Olympus Corporation, Boston Scientific Corporation, Ethicon, Medtronic plc, Ambu A/S, Fujifilm Holdings, Hoya Corporation, Cook Medical, Teleflex Incorporated, Richard Wolf GmbH, Lymol Medical, and Laborie Medical Technologies. Collaborations, mergers and acquisitions, product developments, and product launches are major strategies undertaken by market players to strengthen their foothold in the bronchoscopy market.

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Strategic Initiatives by key players

• In July 2018, Olympus Corporation received FDA clearance for its BF-MP190F Bronchoscope. The BF-MP190F is a completely rotatable, ultra-thin bronchoscope with a ratio of 1.7 mm working channel to 3.0 mm distal-end outer diameter. This ratio offers pulmonologists with benefits through sampling, access, and diagnosis of lung diseases such as lung cancer.
• In June 2018, Olympus Corporation entered into a partnership with MedTech Innovator. With this partnership, Olympus Corporation emphasized its obligation to innovation in the medical technology field.
• In May 2018, Ethicon through its subsidiary NeuWave Medical signed a development and commercialization agreement with Auris Health to work on robotically assisted bronchoscopic ablation of lung lesions to diagnose lung cancer.
• In September 2017, Teleflex Incorporated announced the acquisition of NeoTract. With this acquisition, Teleflex Incorporated aimed to increase its product offerings.
• In September 2017, Ambu A/S launched Ambu aScope 4 Broncho, the 4^th generation of single-use/disposable bronchoscopes at the European Intensive Care Congress in Vienna.
• In May 2017, Olympus Corporation acquired Image Stream Medical for a deal prized $87 million. Image Stream Medical is a manufacturer of video equipment and system integration that are utilized in operating rooms.

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Bronchoscopy Market Key Segments:

By Product

• Bronchoscopes
• Flexible Bronchoscopes
• Rigid Bronchoscopes
• Ebus Bronchoscopes
• Imaging Systems
• Light Sources
• Video Processors
• Camera Heads
• Wireless Display & Monitors
• Others
• Accessories
• Cytology Brushes
• Cleaning Brushes
• Biopsy Forceps
• Transbronchial Aspiration Needles
• Biopsy Valve
• Mouthpieces
• Others
• Others

By Usability

• Disposable Bronchoscopes
• Reusable Bronchoscopes

By Patient Age

• Pediatric Patients
• Adult patients

By Application

• Bronchial Diagnosis
• Bronchial Treatment

By End-User

• Ambulatory Surgery Centers/Clinics
• Hospitals

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