According to Future Market Insights (FMI), the global Bronchoscopes Market size was valued at around US$ 501 Million in 2022 and will grow 1.3X during the forecast period. During the projected period of 2022 to 2028, the market is expected to grow at a CAGR of 4.4%, with sales of US$ 647.7 Million in 2028.
By the end of 2021, the global Bronchoscopes market is predicted to account for about 4% of the global endoscopes market, which is expected to be valued at US$ 13.0 Billion in the same year. The rising prevalence of idiopathic pulmonary fibrosis, pulmonary fibrosis, interstitial pneumonitis, occupational sarcoidosis, and pulmonary haemorrhage is driving the global need for Bronchoscopes and may create numerous prospects for manufacturers.
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Cleaning conventional (multiple use) flexible Bronchoscopes takes time and money, and there is a risk of cross infection. Cross-contamination is avoided by using a single-use flexible video bronchoscope. Early evaluation of the cost effectiveness of single-use Bronchoscopes reveals possible hospital savings and patient advantages from prevented infections. Because of the appealing benefits, the increased use of single-use flexible Bronchoscopes is creating a substantial market.
“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.
White-light bronchoscopy, Navigational bronchoscopy, and Autofluorescence (blue-light) bronchoscopy among others are some notable advancements and development, driving the global demand for Bronchoscopes. Moreover, thin Bronchoscopes with minimally invasive features are also gaining prominence. Manufacturers of Bronchoscopes have built upon original Bronchoscopes by making advancements, in terms of applicability and product versatility”, explains a senior analyst of the company.
Top Four Manufacturers Contribute the Largest Global Revenue
Considering the growing rate of technological advancements key manufacturers of broncoscopes, are making significant investments in the research and development initiatives to further increase the product efficiency. The global broncoscopes market showcases a highly competitive landscape characterized by relatively high barriers to entry, 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 market. 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).
Bronchoscopes Market, By Category Product:
- Non-Video Bronchoscopes
- Video Bronchoscopes
Modality:
- Rigid Bronchoscopes
- Flexible Fiber Bronchoscopes
- Mobile Bronchoscopes
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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