The global bronchial biopsy devices market size is expected to reach USD 972.43 million by 2030, registering a CAGR of 7.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth is supported by various factors, such as the rising prevalence of respiratory diseases, the introduction of advanced product offerings, and strategic initiatives undertaken by organizations. For instance, in April 2023, Serpex Medical and Body Vision Medical successfully conducted the first lung nodule biopsy procedure. This milestone showcased the integration of Body Vision Medical's LungVision system and Serpex's Compass steerable needle, combining innovative endobronchial instruments with AI-driven technology.
The market growth is driven by several factors, including the increasing incidence of respiratory diseases, the introduction of advanced product offerings, and rising strategic initiatives by the organization. For instance, in April 2023, Body Vision Medical, a leader in AI-driven, intraoperative CT imaging, and Serpex Medical, an innovator of steerable endobronchial instruments, jointly announced today the first lung nodule biopsy procedure using Serpex's Compass steerable needle-guided by Body Vision Medical's LungVision™ real-time, intraoperative CT imaging system.
The biopsy forceps product segment consists of disposable and reusable sub-segments. The disposable sub-segment is projected to grow at the fastest CAGR of 7.6% during the forecast period. The preference for disposable devices has increased due to the COVID-19 pandemic, as physicians prioritize reducing the risk of cross-contamination. This shift towards disposable devices has led to an increase in their usage, further driving market growth. With the growing adoption of disposable devices, the biopsy forceps market is expected to experience revenue market expansion.
USPSTF recommendations in March 2021 advise annual lung cancer screening for individuals with a smoking history. In addition, Medicare Coverage by CMS includes yearly screenings for asymptomatic patients with a history of heavy smoking. These screening initiatives have led to the identification of a higher number of pulmonary nodules, resulting in increased volumes of bronchial and lung biopsies.
Notable players in the industry, such as Olympus Corporation, Boston Scientific Corporation, Cook Medical, CONMED Corporation, Medtronic, and Intuitive Surgical, are implementing diverse strategies such as new product launches, collaborations, acquisitions, and expansions to expand the availability and global presence of their product offerings. For example, in July 2022, Intuitive secured FDA clearance for a lung biopsy robot featuring Siemens' imaging technology.
Request a free sample copy or view report summary: Bronchial Biopsy Devices Market Report
Based on product, the TBNA needles segment dominated the market with a 65.23% revenue share in 2022. This can be attributed to the advantages of EBUS-TBNA over conventional TBNA and other biopsy methods like mediastinoscopy. The increasing preference for EBUS-TBNA, driven by its greater accuracy, is fueling the demand
North America dominated the market with a revenue share of 40.6% in 2022 owing to its advanced healthcare infrastructure, high investment in research and development (R&D), and availability of the latest technologies
Asia Pacific is anticipated to experience the highest CAGR of 7.7% during the forecast period. This growth can be attributed to factors such as the aging population and the region's increasing prevalence of respiratory diseases
Grand View Research has segmented the global bronchial biopsy devices market based on product and region:
Bronchial Biopsy Devices Product Outlook (Revenue, USD Million, 2018 - 2030)
Transbronchial Needle Aspiration (TBNA) Needles
Bronchial Biopsy Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)
Middle East & Africa
List of Key Players in the Bronchial Biopsy Devices Market
Boston Scientific Corporation
HOBBS MEDICAL INC
Telemed Systems, Inc.
Becton, Dickinson and Company
Argon Medical Devices
Horizons International Corp.
GET A FREE SAMPLE
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
"The quality of research they have done for us has been excellent..."