The global disposable bronchoscopes market is set to achieve remarkable growth, propelled by projected figures reaching USD 622.3 Million in 2022 and anticipated to surge to USD 2.9 Billion by 2032, showcasing an impressive CAGR of 16.9%. These insights were revealed in a recent analysis by Future Market Insights, highlighting an anticipated absolute dollar opportunity of approximately USD 2.3 Billion over the next decade. The hospital segment, with an expected CAGR of 18.2%, is poised to lead this growth trajectory.
The surge in the disposable bronchoscopes market comes amid a paradigm shift accelerated by the global pandemic, which underscored the advantages of disposable over reusable bronchoscopes. This shift, coupled with increased government expenditure to bolster healthcare infrastructure and significant technological advancements by industry leaders, has spurred a notable uptick in bronchoscope adoption rates within hospitals. Consequently, there has been a discernible preference among healthcare professionals for minimally invasive procedures, marking a shift away from traditional open surgeries.
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“This substantial growth trajectory underscores the growing acceptance and adoption of disposable bronchoscopes worldwide,” remarked FMI. “As healthcare providers prioritize patient safety and operational efficiency, the market continues to evolve rapidly, driven by technological innovations and strategic investments.”
Future Market Insights’ comprehensive analysis outlines a promising future for the disposable bronchoscopes market, predicting sustained growth driven by advancing healthcare infrastructure and increasing preference for minimally invasive procedures.
Key Takeaways from the Market Study:
- Global disposable bronchoscopes market is expected to reach a market size of USD 2.9 Billion by 2032.
- The Global market is expected to offer an absolute dollar opportunity of USD 2.3 Billion 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.
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.
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Market Segments Covered In Disposable Bronchoscopes Market Analysis:
By End-Use:
- Hospitals
- Clinics
- Diagnostics Centers
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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