(MENAFN- GlobeNewsWire - Nasdaq) New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bronchoscope Global Market Report 2023" -
KG, Olympus Corporation, PENTAX Medical, Richard Wolf GmbH, Teleflex Incorporated, EFER Endoscopy Srl, Lymol Medical Corporation, Schindler Endoskopie Technology GmbH, Schölly Fiberoptic GmbH, and Uptake Medical B.V.
The global bronchoscope market is expected to grow from $2.48 billion in 2022 to $2.74 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The bronchoscope market is expected to reach $4.04 billion in 2027 at a CAGR of 10.17%.
The bronchoscope market consists of sales of fiber optic bronchoscopes and video bronchoscopes.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A bronchoscope refers to a medical device that is used to visualize the inside of the lungs and airways.It is a flexible or rigid tube that has a camera and a light source at its tip, which allows a physician to see the walls of the trachea, bronchi, and bronchioles.
Bronchoscopes are used for both diagnostic and therapeutic purposes, such as biopsy tissue, remove foreign objects, or perform various medical procedures in the airways.
North America was the largest region in the bronchoscope market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in bronchoscope report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of bronchoscopes are rigid bronchoscopes and flexible bronchoscopes.Rigid bronchoscopes are medical devices used for diagnostic and therapeutic purposes in the respiratory system.
Rigid bronchoscopes are made of metal and consist of handles, tubes, and sheaths.It is used in diagnostic and therapeutic procedures such as foreign body removal, tumor removal, stent placement, biopsy, hemostasis, and laser therapy.
The usability of bronchoscopes includes reusable bronchoscopes and disposable bronchoscopes that are applied in diagnosis and treatments. It is used in hospitals, clinics, ambulatory surgical centers, and others.
The rise in the prevalence of respiratory tract disorders is expected to propel the growth of the bronchoscope market going forward.Respiratory tract disorders are medical conditions that affect the respiratory system.
It includes asthma, chronic obstructive pulmonary disease, pneumonia, bronchitis, cystic fibrosis, pulmonary fibrosis, and lung cancer.Bronchoscopy is a diagnostic and therapeutic tool that can be used to evaluate and treat a variety of respiratory tract disorders; thus the rise in the prevalence of respiratory tract disorders leads to an increase in the bronchoscope market.
For instance, in 2021, according to the report published by the National Center for Health Statistics, a US-based government agency that provides statistical information to guide actions and policies to improve the public health of the American people, the cause of deaths per 100,000 population in the US was 42.9 due to chronic lower respiratory diseases (including asthma) deaths as compared to 36.4 in 2020 which translates to 17.8% increase. Thus, the rise in the prevalence of respiratory tract disorders is expected to boost the bronchoscope market.
Technological advancements are a key trend gaining popularity in the bronchoscope market.Major companies operating in the bronchoscope market are adopting new technologies to sustain their position in the market.
For instance, in September 2020, PENTAX Medical, a Japan-based healthcare company that provides diagnostic and therapeutic endoscopy solutions, launched an HD solution in pulmonology, EB-J10 series bronchoscopes with a small-footprint processor called DEFINA video processor in the U.S. It gives HD visualization of the bronchus, lightweight control body, unmatched ergonomics, and high standards in hygiene measures.
In December 2020, Olympus Corporation, a Japan-based manufacturing company that produces optics and reprography products, acquired Veran Medical Technologies Inc. for $340 million. This acquisition aims to expand the respiratory portfolio of Olympus Corporation with VMT's spin thoracic navigation system and related devices' global sales network, marketing, manufacturing, R&D, and other functions that provide a powerful combination of imaging, access, and precision for pulmonologists. Veran Medical Technologies Inc. is a US-based manufacturing company focused on developing and manufacturing advanced medical devices specializing in interventional pulmonology.
The countries covered in the bronchoscope market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The bronchoscope market research report is one of a series of new reports that provides bronchoscope market statistics, including bronchoscope industry global market size, regional shares, competitors with a bronchoscope market share, detailed bronchoscope market segments, market trends and opportunities, and any further data you may need to thrive in the bronchoscope industry. This bronchoscope market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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