Market Size of Bronchoscope Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Bronchoscope Market Analysis
The bronchoscope market is expected to register a CAGR of 7.2% over the forecast period.
The application of a bronchoscope for examining COVID-19 and associated diseases has positively impacted the market's growth. Pneumonia caused by COVID-19 was likely to cause hypoxemia and respiratory failure, necessitating a bronchoscope for the examination. For instance, as per an article published by the European Respiratory Society, in April 2021, in critically ill patients with COVID-19, bronchoscopy allows the removal of mucus plugs and intrabronchial clots and the resolution of atelectasis, thereby improving mechanical ventilation. Furthermore, according to Ambu A/S annual report, 2021/22, the bronchoscopy industry experienced challenges due to high market inventories and greater competition, particularly in the American market, brought on by the high comparative from 2020/21. Despite the year's lower performance compared to pre-COVID-19, bronchoscopy business revenue worldwide increased by 70%, indicating the switch from reusable endoscopy to single-use equipment. Therefore, the COVID-19 pandemic has profoundly impacted the bronchoscope market since the pandemic.
The growing burden of respiratory diseases and lung cancer, hospital investment in bronchoscopy facilities, and technological advancements are expected to drive the bronchoscope market. For instance, as per the American Cancer Society 2022, lung cancer (both small and non-small cell) is the second most common cancer in both men and women in the United States. Furthermore, according to the Forum of International Respiratory Societies report 2022, approximately 200 million people are estimated to have COPD, and 262 million are affected by Asthma. With such a high prevalence of respiratory disease and a rise in cancer cases, the demand for bronchoscopes is expected to increase to diagnose this disease, eventually driving the market.
Moreover, market players frequently launch new products and adopt various growth strategies in their respective segments, likely to drive market growth. For instance, in April 2021, Olympus announced the expansion of its respiratory portfolio with the launch of our first line of single-use bronchoscopes, the H-SteriScopes. Veran Medical Technologies, Inc., a wholly owned Olympus subsidiary, and Hunan Vathin Medical Instrument Co., Ltd. worked together to launch the H-SteriScope range. Additionally, in May 2021, PENTAX Medical Europe obtained a CE mark for its new single-use bronchoscope - the PENTAX Medical ONE Pulmo. This innovative product provides high-quality care without compromising pulmonary care. The PENTAX Medical ONE Pulmo is a single-use bronchoscope with superior suction power and HD image quality.
Thus, the abovementioned factors are impacting the market growth of the bronchoscope market. However, the high overhead cost of bronchoscopy procedures will hinder market growth over the forecast period.
