“The bronchoscopy market projected to grow at a CAGR of 5.9% during the forecast period (2019–2024).”
The global bronchoscopy market is projected to reach USD 2.6 billion by 2024 from an estimated USD 2.0 billion in 2019, at a CAGR of 5.9% during the forecast period. The key factors driving the growth of this market include the growing demand for minimally invasive surgery, growing hospital investments in bronchoscopy facilities, and technological advancements in bronchoscopy. However, the dearth of trained physicians and pulmonologists is the major challenge for the growth of this market.
“By application, the bronchial treatment segment is expected to grow at the highest CAGR during the forecast period (2019–2024).”
On the basis of application, the market is segmented into bronchial treatment and bronchial diagnosis. The bronchial treatment segment commanded the largest share of the bronchoscopy market in 2018. The large share of this segment can be attributed to the rising prevalence of target diseases, which will drive the demand for bronchoscopy equipment in therapeutic procedures.
“By end user, the hospitals segment is expected to dominate the market during the forecast period (2019–2024).”
On the basis of end user, the market is segmented into hospitals and ambulatory surgery centers/clinics. The hospitals segment accounted for the largest share of the bronchoscopy market in 2018. The large share of this segment can be attributed to the high patient preference for hospital-based treatment & procedures, availability of skilled healthcare professionals, technologically advanced facilities, and favorable reimbursement scenario.
“The Asia Pacific to witness the highest growth during the forecast period (2019–2024).”
The Asia Pacific market is projected to register the highest growth during the forecast period. Factors such as presence of a well-developed healthcare system in Japan and the large patient populations and healthcare infrastructure improvements in China and India and high prevalence of cancer in Australia are driving the growth of the bronchoscopy market in the Asia Pacific.
A breakdown of the primary participants referred to for this report is provided below:
- By Company Type: Tier 1–21%, Tier 2–26%, and Tier 3–53%
- By Designation: C-level–32%, Director-level–23%, and Others–45%
- By Region: North America–36%, Europe–32%, Asia Pacific–17%, RoW–15%
Prominent players in the global bronchoscopy market include Olympus Corporation (Japan), KARL STORZ (Germany), Ambu A/S (Denmark), Boston Scientific (US), Ethicon (US), Fujifilm Holdings Corporation (Japan), Medtronic (Ireland), and HOYA Corporation (Japan).
The report analyzes the bronchoscopy market and aims at estimating the market size and future growth potential of this market based on various segments such as product, application, working channel diameter, usability, patient age, end user, and region. The report also includes competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.
Reasons To Buy the Report
The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one, or any combination of the below mentioned five strategies.
This report provides insights into the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the bronchoscopy market. The report analyzes the market based on product, application, working channel diameter, usability, patient age, end user, and region.
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the bronchoscopy market.
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various bronchoscopy equipment across regions.
- Market Diversification: Exhaustive information about products, untapped regions, recent developments, and investments in the bronchoscopy market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the bronchoscopy market.