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Market Size – USD 2,060.4 Million in 2020, Market Growth – at a CAGR of 5.5%, Market Trends – Growth of the healthcare sector
NEW YORK , NY, UNITED STATES, April 18, 2022 /EINPresswire.com / -- The global bronchoscopy market size is expected to reach USD 3,174.0 Million in 2028 and register a revenue CAGR of 5.5% over the forecast period, according to latest report by Reports and Data. Rapid revenue growth of the bronchoscopy market can be attributed to rising use of bronchoscopes to examine airways in the human body. A bronchoscope comprises mostly of a hollow metal tube with an attached fiber optic or a video camera to examine the trachea, wind pipe, and lungs. Conditions such as chronic obstructive pulmonary diseases, blockages, tumors, and bronchopulmonary hemorrhage can be examined and diagnosed with these devices.
Factors such as a rise in cases of respiratory diseases, increasing investments in product innovation, and improved reimbursement scenarios in various developed and developing countries are significantly contributing to market revenue growth. Further, growing preference for minimally invasive procedures among patients is fueling demand for bronchoscopy. However, the risk of cross-contamination might hinder bronchoscopy market's expansion to some extent.
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Some Key Highlights from the Report
By component type, the endoscope segment revenue is expected to grow at a faster rate over the forecast period. Advantages offered by endoscopes compared to visualization systems and accessories, rising occurrence of respiratory diseases, and technological advancements are contributing to revenue growth of this segment.
By patient type, the adult patient segment accounted for largest revenue share in 2020 and is expected to grow at the fastest CAGR over the forecast period. Rising population, increase in pollution or use of harmful gases, and chronic illnesses, such as respiratory diseases, lung cancer, and air pathway blockages, are contributing to revenue growth of this segment.
The hospital segment accounted for largest revenue share of the bronchoscopy market in 2020. High revenue share of this segment can be attributed to increased patient preference for hospital-based treatments due to the availability of technologically advanced equipment, presence of skilled doctors, better healthcare infrastructure, and reimbursement policies.
The bronchoscopy market in North America accounted for largest revenue share in 2020. A rise in the occurrence of chronic respiratory disorders, improved reimbursement scenario, and growing incidence of lung cancer in Canada are some important factors contributing to North America's large revenue share in the global bronchoscopy market.
The market in Asia Pacific is expected to grow at the fastest revenue CAGR over the forecast period due to factors such as increasing number of hospitals, rising disposable income, technological advancements, and existence of a large patient population in the region.
Companies profiled in the market report include Olympus Corporation (Japan), KARL STORZ (Germany), Fujifilm Holdings Corporation (Japan), Ambu A/S (Denmark), Boston Scientific (US), Medtronic (Ireland), COOK Group Corporation (US), Johnson & Johnson Pvt. Ltd. (US), Hoya Corporation (Japan), and Richard & Wolf GMBH (Germany).
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Bronchoscopy Market Segmentation:
Component Type Outlook (Revenue, USD Million; 2018–2028)
Endoscope
Visualization System
Accessories
Other product
Usability Outlook (Revenue, USD Million; 2018–2028)
Disposable Equipment
Reusable Equipment
Patient Type Outlook (Revenue, USD Million; 2018–2028)
Adult Patient
Pediatric Patients/Neonates
End-Use Material Outlook (Revenue, USD Million; 2018–2028)
Hospital
Ambulatory surgical centers and clinics
Diagnostic centers
Application Outlook (Revenue, USD Million; 2018–2028)
Bronchial Diagnosis
Bronchial Treatments
Global Bronchoscopy Market Report: Regional Segmentation
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
A.E.
South Africa
Rest of MEA
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Global Bronchoscopy Market: Table of Contents
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary Sources
1.4.2. Secondary Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
Chapter 3. Key Insights
Chapter 4. Global Pharma & Healthcare Market Segmentation
4.1. Global Pharma & Healthcare Market COVID-19 Impact Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers' analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Porter's Five Forces Analysis
4.5. Regulatory Framework
4.6. Price trend Analysis
4.7. Competitive Metric Space Analysis
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Frequently Asked Questions Answered in the Report:
What is the estimated revenue growth rate of the global Bronchoscopy market over the forecast period?
What are the major factors driving the global market revenue growth?
Which are the leading manufacturers and suppliers in the global Bronchoscopy market?
Which regional market is expected to lead in terms of revenue share in the global Bronchoscopy market over the forecast years?
What are the key outcomes of SWOT analysis and Porter's Five Forces analysis of the market?
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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