The global bronchoscopes market size valued at USD 15.4 billion in 2017 and is expected to grow at a compound annual growth rate (CAGR) of 8.3% from 2018 to 2025. Demand for bronchoscopes has been on a rise due to the increasing prevalence of respiratory diseases, improving reimbursement policies, and technological advancements.
Bronchoscopes are primarily used for the assessment and management of multiple respiratory and airway diseases. Conditions such as blockages, chronic obstructive pulmonary diseases (COPD), bronchopulmonary hemorrhage, tumors, airway stenosis, and inflammatory conditions can be detected and diagnosed through these devices.
The increasing prevalence of various respiratory diseases is the most significant factor positively impacting the market growth. According to the World Health Organization (WHO), over 3.0 million people die from COPD every year. As per the American Cancer Society, over 234,030 new cases of lung cancer were reported in the U.S. at the end of 2018.
Furthermore, according to Cancer Research UK, around 46,400 new cases of lung cancer are diagnosed each year. Besides, according to the World Cancer Research Fund International, around 58.0% of lung cancer cases occurred in developing countries, which can be attributed to the alarming prevalence of a host of respiratory diseases. Thus, demand for bronchoscopes is expected to witness a major boost in the future.
Based on type, the market is broadly bifurcated into rigid and flexible types. Flexible bronchoscopes are further segmented into video, fibreoptic, and hybrid. The flexible segment captured the largest share in terms of revenue due to high video quality and significant cost-effectiveness. The fibreoptic sub-segment has been dominating the flexible segment owing to the many benefits offered by it, such as high-quality videos, which results in easy identification of tumors and infections in deeper levels of bronchioles.
In addition to the above-mentioned advantages, flexible bronchoscopes are convenient for doctors as well as patients. Recovery time after flexible bronchoscopy is significantly lesser as compared to rigid bronchoscopy. Moreover, the narrow size of these devices allows for a deeper reach into small lumens.
Based on use, the market is segmented into reusable and disposable devices. The reusable segment captured the largest market share in 2017 in terms of revenue. Multi-usage and cost-effectiveness are the key advantages these devices offer. As a result, more than 500 bronchoscopy procedures are performed in a year. This is sure to drive the market at a lucrative rate during the forecast period.
Disposable devices are likely to emerge as the fastest-growing segment in the bronchoscopes market. Affordability is one of the major advantages these devices offer, especially those recently launched in the market. Medical facilities that perform fewer than 500 procedures a year save a significant margin as compared to costs incurred through reusable bronchoscopes. Furthermore, factors such as no cross-contamination, instant availability, and no reprocessing cost are some other factors contributing to market growth.
North America is the most developed market, followed by Europe. Increasing cases of lung cancer and the presence of a large number of well-established players are contributing to the growth of this market. The U.S. is the largest market for bronchoscopes across the world. These devices are widely adopted in the country, which can be primarily attributed to favorable reimbursement policies by state and federal governments.
The Asia Pacific market is expected to witness remarkable growth throughout the forecast period owing to extensive growth opportunities in Japan, China, and India. Factors such as mandatory healthcare insurance, rising technological advancements, increased healthcare expenditure, and an increasing number of global companies looking to cater to high unmet medical needs in these countries are driving the market.
Key strategies adopted by major players include collaborations, mergers and acquisitions, new product launches, and partnerships to strengthen their position in the market. For instance, in May 2014, Olympus launched two new endoscopes for peripheral and small anatomy bronchoscopy: the BF-190 and BF-XP190 bronchoscopes. Some of the prominent players in the bronchoscopes market include:
Teleflex Incorporated
Olympus Corporation
Ambu A/s
Karl Storz
Fujifilm Holdings Corporation
Boston Scientific Corporation
Cogentix Medical
Report Attribute |
Details |
The market size value in 2020 |
USD 20.2 billion |
The revenue forecast in 2025 |
USD 29.6 billion |
Growth Rate |
CAGR of 8.3% from 2018 to 2025 |
The base year for estimation |
2017 |
Historical data |
2014 - 2016 |
Forecast period |
2018 - 2025 |
Quantitative units |
Revenue in USD million and CAGR from 2018 to 2025 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Use, type, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
Country scope |
U.S.; Canada; U.K.; Germany; Netherlands; Switzerland; France; Russia; Spain; Sweden; China; India; Japan; Indonesia; South Korea; Thailand; Malaysia; Singapore; Australia; Philippines; Brazil; Mexico; Argentina; Turkey; Saudi Arabia; Nigeria; Iran; South Africa |
Key companies profiled |
Teleflex Incorporated; Olympus Corporation; Ambu A/s; Karl Storz; Fujifilm Holdings Corporation; Boston Scientific Corporation; Cogentix Medical |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global bronchoscopes market report based on use, type, and region:
Use Outlook (Revenue, USD Million, 2014 - 2025)
Reusable
Disposable
Type Outlook (Revenue, USD Million, 2014 - 2025)
Rigid
Flexible
Video
Fiberoptic
Hybrid
Regional Outlook (Revenue, USD Million, 2014 - 2025)
North America
The U.S.
Canada
Europe
Germany
U.K.
The Netherlands
Switzerland
France
Russia
Spain
Sweden
Asia Pacific
China
India
Japan
Indonesia
South Korea
Thailand
Malaysia
Singapore
Australia
Philippines
Latin America
Mexico
Brazil
Argentina
MEA
Turkey
South Africa
Saudi Arabia
Nigeria
Iran
b. The global bronchoscopes market size was estimated at USD 18.5 billion in 2019 and is expected to reach USD 20.2 billion in 2020.
b. The global bronchoscopes market is expected to grow at a compound annual growth rate of 8.3% from 2018 to 2025 to reach USD 29.6 billion by 2025.
b. Flexible bronchoscopes segment dominated the bronchoscopes market with a share of 71.1% in 2019. This is attributable to high video quality and significant cost effectiveness.
b. Some key players operating in the bronchoscopes market include Teleflex Incorporated; Olympus Corporation; Ambu A/s; Karl Storz; Fujifilm Holdings Corporation; Boston Scientific Corporation; and Cogentix Medical.
b. Key factors that are driving the market growth include increasing demand for bronchoscopes due to increasing prevalence of respiratory diseases, improving reimbursement policies, and technological advancements.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.
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