Electromagnetic Navigation Bronchoscopy Market Reflect Impressive Expansion by 2031

Key players and manufacturers in electromagnetic navigation bronchoscopy market are taking immense efforts in developing advanced minimally invasive technology for the purpose of catering to early diagnosis as well as treatment of the lung cancer. Pulmonary physicians are likely to drive the demand for electromagnetic navigation bronchoscopy owing to increasing demand from patients for treatments at curable stages. Disposables type working channels component is likely to gain significant traction in electromagnetic navigation bronchoscopy market owing to easy process of passing the diagnostic instruments like biopsy foreceps, aspirating needles and brushes. Rapidly increasing number of pathologies will further drive the demand for disposables type working channels component, thereby positively impacting the growth of electromagnetic navigation bronchoscopy market.

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Emergence of robots replacing the surgeons in battling against lung diseases will further significantly boost the growth of electromagnetic navigation bronchoscopy market. Regulatory bodies in the healthcare sector are taking immense efforts in developing workshop sessions, which in turn increases the awareness regarding the usage of electromagnetic navigation bronchoscopy. Emerging thoracic surgeons and interventional pulmonologists are expected to highly benefit with advanced electromagnetic navigation bronchoscopy and its extended abilities. Manufacturers are taking immense efforts in identifying patients at early stage, which in turn would help in reducing mortality rates due to lung cancers.

Electromagnetic navigation bronchoscopy uses electromagnetic technology to localize and guide endoscopic tools through the bronchial pathways of the lungs. Electromagnetic navigation bronchoscopy consists of a disposable working channel, a disposable guide catheter, software, and hardware components such as computers, monitors, and the electromagnetic board. The location sensor is attached at the distal tip of the guide catheter.

Electromagnetic Navigation Bronchoscopy Market: Segmentation

To gain a bird’s eye view and a better understanding of the future market equity, the global electromagnetic navigation bronchoscopy market report is segmented based on clinical indication, loading mechanism, end user, and region.
Based on indication, the global electromagnetic navigation bronchoscopy market is divided into the following:
• Therapeutic
o Tumors
o Cardiovascular
o Infectious Diseases
o Others
• Diagnostic

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Based on component, the global electromagnetic navigation bronchoscopy market is divided into the following:
• Software
• Hardware
• Disposables
o Working Channels
o Guide Catheters
• Others

Based on end user, the global electromagnetic navigation bronchoscopy market is segmented as below:
• Hospitals
• Ambulatory Surgical Centers
• Others

Electromagnetic Navigation Bronchoscopy Market: Regional Wise Outlook

The global electromagnetic navigation bronchoscopy market is classified into regions, viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East and Africa. North America is expected to account for the largest share of the global electromagnetic navigation bronchoscopy market, owing to the concentration of key market players, large purchasing power, consolidation of large healthcare players, and large healthcare expenditure amounting to 16% of GDP in 2016. The excellent reimbursement for lung biopsy in the U.S. is a strong driver of the market, which ranges from USD 1,052.63 for biopsy, pleura, and percutaneous needles to USD 3,073.86 for thoracoscopy with pleura. The approval of Medicare & Medicaid Services (CMS) for screening for lung cancer is expected to drive large market adoption.

The Asia Pacific excluding Japan market is expected to grow at a significant CAGR, owing to the expansion of the healthcare sector and growing prosperity of the economy. China and India are expected to have a lion’s share of the market. Europe, led by Germany, France, and the U.K., is expected to account for the second-largest market share. The large medical device industry of Germany is expected to benefit the European market. The Middle East and Africa market is expected to be skewed in favor of the Gulf economies of Saudi Arabia, Kuwait, and Qatar.

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Electromagnetic Navigation Bronchoscopy Market: Key Players

Technological advancements and market position are the most attractive strategies which can yield a premium. Players are focusing on distribution efficiency by partnering with large hospitals and payers, which can yield dividend, owing to faster adoption and lower marketing costs. Thus, captive distribution channels are playing a large part for established players. The barriers for entry are high, owing to the capital and resource intensity of the market.

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