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(Medical-NewsWire.com, January 11, 2022 ) The growth of Bronchoscopy Market is primarily driven rising prevalence of respiratory diseases, the growing demand for minimally invasive surgeries, and technological advancements in bronchoscopes.
According to the new market research report "Bronchoscopy Market by Product Bronchoscopes (Flexible, Rigid, EBUS), Imaging Systems (Monitor, Camera), Accessories, Working Channel Diameter (2.8, 2.2, 3.0), Usability (Reusable, Disposable), & End Users (Hospital, ACSs/Clinic) - Global Forecast to 2024", published by MarketsandMarkets™, is projected to reach USD 2.6 billion by 2024 from an estimated USD 2.0 billion in 2019, at a CAGR of 5.9% during the forecast period.
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By product, the bronchoscopes segment accounted for the largest share of the market in 2018.
Based on product, the Bronchoscopy Market is segmented into bronchoscopes, imaging systems, accessories, and other bronchoscopy equipment. The bronchoscopes segment accounted for the largest share of the market in 2018. The large share of this segment can be attributed to the high cost of bronchoscopes compared to the imaging systems and accessories, increasing prevalence of lung cancer, and technological advancements.
By usability, the reusable bronchoscopes segment dominated the market in 2018.
On the basis of usability, the market is segmented into reusable and disposable bronchoscopes. The reusable bronchoscopes segment accounted for the largest share of the Bronchoscopy Market in 2018. The large share of this segment can be attributed to the high image quality achieved through reusable bronchoscopes.
Hospitals accounted for the largest market share in 2018.
Based on end user, the market is segmented into hospitals and ambulatory surgery centers/clinics. The hospitals segment accounted for the largest share of the Bronchoscopy Market in 2018. The large share of this segment can be attributed to the high patient preference for hospital treatment, availability of skilled healthcare professionals, and favorable reimbursement scenario.
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In 2019, North America accounted for the largest share of the Bronchoscopy Market, followed by Europe. Factors such as increase in the incidence and prevalence of chronic respiratory diseases, favorable reimbursement scenario in the US, and rising incidence of lung cancer in Canada are contributing to the large share of North America.
The key players in the global Bronchoscopy Market are Olympus Corporation (Japan), KARL STORZ (Germany), and FUJIFILM Holdings Corporation (Japan). Other prominent players in the market include Ambu A/S (Denmark), Boston Scientific (US), Ethicon (US), Medtronic (Ireland), HOYA Corporation (Japan), Richard Wolf GmbH (Germany), Cook Medical (US), CONMED Corporation (US), Roper Technologies (US), Teleflex Incorporated (US), LYMOL Medical (US), LABORIE Medical Technologies (Canada), EFER Endoscopy (France), EMOS Technology GmbH (Germany), VBM Medizintechnik GmbH (Germany), Hunan Vathin Medical Instrument Co., Ltd. (China), and MACHIDA Endoscope Co. Ltd., (China).
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Mr. Aashish Mehra