Bronchoscopes Market is projected to reach a valuation of U.S. $ 480.3 Million over the forecast period of 2022-2028

The global demand for bronchoscopes is projected to grow at a moderate annual rate till 2021, showcasing a 1.3x surge during 2022-2028. With a year-on-year growth rate of 4.4 percent in 2021, the global bronchoscopes market is estimated to reach a valuation of U.S. $ 480.3 Mn during the same period, as indicated in a recent report by Future Market Insights (FMI) on global bronchoscopes market.

Increasing prevalence of chronic respiratory diseases including multiple respiratory and airway diseases, growing number of endoscopic surgeries, and early detection and diagnoses of critical conditions such as bronchopulmonary hemorrhage and chronic obstructive pulmonary diseases (COPD) are some key factors projected to further impact the sales of bronchoscopes in the coming years.

“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.

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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.

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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Key Insights Drawn from Segmentation Analysis of the Bronchoscopes Market

• On the basis of product type, video bronchoscopes are estimated to witness maximum traction. Holding an unrivaled market share of approximately 86.6 percent, video bronchoscopes sales is projected to generate nearly US$ 381.7 Mn in 2019. Utilizing the charge-coupled device (CCD) technology, video bronchoscopes can reach the
• In terms of modality, flexible fiber bronchoscopes are indicated to hold a market share of nearly 93.7 percent. Single use flexible bronchoscopes will gain maximum traction, as per the report. Stringency in regulations coupled with elimination of cross-contamination risk are some key dynamics driving the demand for single use flexible bronchoscopes.
• Asia Pacific is estimated to remain a high-revenue churning pocket, in the global bronchoscopes market. Improved access to healthcare services and rise in demand for quality healthcare, in addition to parallel need for improved user friendly products is expected to drive the sales of bronchoscopes in APAC. Moreover, focused regional expansion strategies implemented by key manufacturers of bronchoscopes, would bring further opportunities.

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).

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Bronchoscopes Market, By Category Product:

• Non-Video Bronchoscopes
• Video Bronchoscopes

Modality:

• Rigid Bronchoscopes
• Flexible Fiber Bronchoscopes
• Mobile Bronchoscopes

End User:

• Hospitals
• Outpatient Centers

About FMI:

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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