Increase in prevalence of respiratory diseases, growth in demand for minimally invasive surgery, and technological advancement in bronchoscopy propel the growth of the global bronchoscopy market. However, lack of trained physicians and pulmonologists restricts the market growth. On the other hand, growing prospects in emerging Bronchoscopy markets present new opportunities in the coming years.
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List of Key Players
- Olympus Corporation
- Karl Storz
- Fujifilm Holdings Corporation
- Ambu A/S
- Boston Scientific Corporation
- Johnson & Johnson
- Hoyo Corporation
- Richard Wolf GmbH
- Cook Medical
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By application, the bronchial treatment segment accounted for the largest market share, holding nearly three-fourths of the global bronchoscopy market in 2020, and is expected to maintain its leadership status by 2030. Furthermore, the segment is also projected to manifest the largest CAGR of 6.5% during the forecast period. This is attributed to surge in prevalence of target diseases, which will drive the demand for bronchoscopy equipment in therapeutic procedures. Also, growth in prevalence of respiratory diseases contributes to the growth of the bronchoscopy market.
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.
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