Future Market Insights (FMI), a renowned market research and consulting firm, reveals significant insights into the Global Bronchoscopes Industry‘s remarkable growth trajectory. According to their latest study, the bronchoscope industry achieved a valuation of approximately US$ 501 million in 2022 and is poised for substantial expansion over the forecast period.
The FMI report estimates that the Bronchoscopes Industry is projected to grow at a robust Compound Annual Growth Rate (CAGR) of 4.4% between 2022 and 2028, reaching a notable market size of US$ 647.7 million by the end of the forecast period. This represents a remarkable 1.3X increase, signaling promising opportunities for stakeholders in the Bronchoscopes sector.
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Cleaning typical (multiple use) flexible Bronchoscopes is time consuming and expensive, and there is a risk of cross infection. By adopting a single-use flexible video bronchoscope, cross-contamination is eliminated. An early assessment of the economic effectiveness of single-use Bronchoscopes suggests potential hospital savings and patient benefits from infection prevention. The rising use of single-use flexible Bronchoscopes is developing a sizable industry due to their enticing benefits.
“Apart from the factors mentioned, technological advancements in the Bronchoscopes landscape—witnessing a transformation shift from conventional invasive procedures to minimally invasive and advanced devices—is a critical factor determining the global demand for Bronchoscopes, further amplifying its potential applications.
Among the significant improvements and developments boosting global demand for Bronchoscopes are white-light bronchoscopy, navigational bronchoscopy, and autofluorescence (blue-light) bronchoscopy. Thin Bronchoscopes with minimally invasive characteristics are increasingly gaining popularity. Manufacturers of Bronchoscopes have improved on original Bronchoscopes in terms of application and product variety,” notes a company senior analyst.
Top Four Manufacturers Contribute the Largest Global Revenue
Given the rapid pace of technological change, major broncoscope manufacturers are investing heavily in research and development projects to further improve product efficiency. The global broncoscopes market is extremely competitive, with relatively high entry barriers, differentiated and well-established products, and notable high profit margins.
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Tier-1 manufacturers of Bronchoscopes, including Olympus Corporation, FUJIFILM Holdings Corporation, Teleflex Incorporated, and HOYA Corporation, collectively hold a market share of approximately 62.5 percent—with Olympus Corporation contributing the largest revenue slice.
Tier-2 players such as KARL STORZ GmbH & Co KG, Ambu A/S, and Richard Wolf GmbH and tier-3 players including Rochling Group and Shanghai AoHua Photoelectricity Endoscope Co., Ltd, collectively contribute approximately 37.5 percent revenue share to the global Bronchoscopes Industry . Key forward market strategies include:
- With continued improvements in the global healthcare setting, key players seek acquisition opportunities as a key growth strategy. Olympus Corporation, Fujifilm Holdings Corporation, Teleflex Incorporated, and HOYA Corporation are likely to focus on mergers, acquisitions, and collaborations strategies, in the coming years. HOYA Corporation, for instance, acquired C2 Therapeutics, to expand its interventional endoscopy offerings in the U.S. and also provide aftersales and repair services.
- Besides strategic tie-ups, new product launches will continue to be the key differentiation strategy, helping manufacturers to further solidify their market position. For instance, Olympus Corporation launched Truresolution objectives for multiphoton laser scanning microscopes. Teleflex Incorporated launched LMA® Gastro Airway, facilitating airway control during endoscopic procedures.
- Leading manufacturers of Bronchoscopes are also focusing on geographical expansions, specifically in emerging nations, by acquiring local players in the endoscopy market.
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Critical Market Restrainers Identified
- Risks of cross-contamination and post bronchoscopy infection in the form of bleeding, troubled breathing, and low blood oxygen level. FMI study indicates high infection rate at ambulatory surgical centers (ASCs), compared to clinics and hospitals.
- Growing demand for non-invasive procedures including liquid biopsy and Magnetic Resonance Spectroscopy.
- Stringency in regulations demanding a pre-market approval (PMA).
Global Bronchoscopes Industry, By Category Product:
- Non-Video Bronchoscopes
- Video Bronchoscopes
Modality:
- Rigid Bronchoscopes
- Flexible Fiber Bronchoscopes
- Mobile Bronchoscopes
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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