Bronchoscopy Market by Product (Endoscope, Visualization & Documentation Systems, Accessories, and Other Products), Usability (Disposable Equipment and Reusable Equipment), Application (Bronchial Diagnosis and Bronchial Treatment), and End User (Hospitals and Ambulatory Surgical Centers & Clinics): Global Opportunity Analysis and Industry Forecast, 2021-2030
The global bronchoscopy market size was valued at $2,558.21 million in 2020, and is projected to reach $4,880.72 million by 2030, registering a CAGR of 6.30% from 2021 to 2030.
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Expansion in pervasiveness of respiratory sicknesses, development sought after for negligibly obtrusive medical procedure, and mechanical progression in bronchoscopy drive the development of the worldwide bronchoscopy market. Notwithstanding, absence of prepared doctors and pulmonologists limits the market development. Then again, developing possibilities in developing business sectors present new open doors before very long.
Covid-19 Scenario
- Bronchoscopy and related procedures have explicitly been affected during the outbreak of COVID-19 pandemic.
- The non-emergency treatments were either put on hold or suspended temporarilyduring the initial phase of covid-19. Also, the facilities were majorly focused on the treatment of covid patients, due to which the clinics and health centers were instructed to be closed.
- Nevertheless, the situations are coming under control as most regions are witnessing slight decrease in new cases. In addition, the initiation of vaccination drives across several regions has further assisted the market to get revived.
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North America to maintain its dominant share during the forecast period
By region, North America contributed to the highest share of the global bronchoscopy market, accounting for more than one-third of the total share in 2020, and will maintain its dominant share during the forecast period. This is attributed to rise in the incidence and prevalence of chronic respiratory diseases, favorable reimbursement scenario in the US, and rising incidence of lung cancer in Canada. However, Asia-Pacific is estimated to register the fastest CAGR of 7.3% from 2021 to 2030. This is due to factors such as the surge in number of hospitals, developing healthcare infrastructure, rise in healthcare expenditure, increase in geriatric population, and the presence of a large patient population.
Some of the Top Players in the Global Market Are:
- Olympus Corporation
- Karl Storz
- Fujifilm Holdings Corporation
- Ambu A/S
- Boston Scientific Corporation
- Medtronic
- Johnson & Johnson
- Hoyo Corporation
- Richard Wolf GmbH
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