According to a recently published analysis by Future Market Insights, the Disposable Bronchoscopes Market revenue was worth US$ 545.8 million in 2021 and is predicted to increase at a CAGR of 16.9% in the period between 2022 and 2032. It is expected to provide an absolute dollar opportunity of US$ 2.3 billion in the upcoming 10 years. Hospitals are anticipated to experience the highest growth among all End-Uses during the forecasted period, with a CAGR of 16.9%.
The disposable bronchoscopes market surged rapidly with the onset of the global pandemic which abstained health professionals from utilizing reusable bronchoscopes. With the increased government expenditure on developing the healthcare infrastructure and technological advancements by the market participants, there has been a surge in the adoption rate of bronchoscopes in hospitals. As a result, professionals moved away from open surgeries and toward minimally invasive methods.
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The disposable bronchoscopes market is expected to grow due to the increased lung cancer rates, an ageing population, demand for local biopsies and technological advancements in the field of bronchoscopy. Also, the surge in patients with chronic respiratory illnesses is driving the demand for the product. During the forecast period 2022-2032, South Korea and China are expected to deliver the most lucrative results by growing at a CAGR of 22.5% and 19.5% respectively. North America tops among the region category with the highest market share while growing at CAGR of 17.7%.
Key Takeaways from the Market Study
- Global disposable bronchoscopes market is expected to reach a market size of US$ 2.9 Bn by 2032.
- The Global market is expected to offer an absolute dollar opportunity of US$ 2.3 Bn in coming 10 years by growing at a CAGR of 9%.
- The U.S. market share is expected to remain unchanged during the forecasted period with the dominant market share of over 35%.
- Hospital segment is expected to remain the dominant segment with the CAGR of 2% during the period of projection.
- South Korea and China are expected to provide a greatest opportunity by growing fastest at a CAGR of 5% and 19.5% respectively.
The COVID-19 epidemic and its aftermath have hastened the adoption and utilization of disposable bronchoscopes as healthcare providers became aware of the risk of reusable equipment and the contamination risk that comes with it, comments a Future Market Insights analyst.
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Competitive Landscape
The market for commercial Brachytherapy products including disposable bronchoscopes is dominated by several regional and global corporations. To sell their solutions across multiple markets, they compete on product innovation, quality, reputation, and market coverage. The rising adoption of disposable bronchoscopes has consequently created a competitive environment among the companies in the industry.
In addition, the large corporations are betting on mergers and acquisitions as a way to expand the market and intensify competition. These companies have formed several partnerships to provide full satisfaction to their clients. The leading firms are working on building cost-effective disposable bronchoscopes that fulfil the expectations of consumers. In this way they are trying to maintain their dominant position.
Key Players:
- AMBU A/S
- Boston Scientific Corporation
- Fujifilm Holdings Corporation
- Karl Storz GmbH & Co. KG
- NeoScope Inc.
- Olympus Corporation
- PENTAX Medical
- Richard Wolf GmbH
- Stryker Corporation
- Smith & Nephew, Inc.
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The major developments in the market are:
- In Feb 2022, Boston Scientific acquired Baylis Medical Business Inc. to integrate the Baylis platforms with its existing structural heart capabilities and strengthen its position in one of the fastest-growing cardiology industries.
- In June 2021, KARL STORZ partnered with the Norwegian University of Life Science to provide them with veterinary medicine-related equipment. These machines could be used not only for training and research but also for diagnoses and treatment.
- In Dec 2020, Olympus Corporation acquired Veran Medical Technologies, Inc. which transferred VMT’s global sales network, marketing, manufacturing, research and development, and other services under the aegis of Olympus Corporation.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Disposable Bronchoscopes market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product type (Hospitals, Clinics and Diagnostics Centers) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
About the Healthcare and Pharmaceuticals Division at Future Market Insights
Future Market Insights’ highly experienced healthcare and pharma team aids companies from all over the world with their specific business intelligence needs through professional research, actionable insights, and strategic recommendations. With a library of over a thousand research and 1 million+ data points, the team has spent over a decade analyzing the healthcare business across 50+ countries. From start to end, the company provides unrivaled research and consulting services. Please get in touch with us to see how we can help.
Market Segments Covered In Disposable Bronchoscopes Market Analysis
By End-Use:
- Hospitals
- Clinics
- Diagnostics Centers
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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