Bronchoscopy Market to Reach $4.88 Bn, Globally, by 2030 at 6.3% CAGR

According to the report, the global bronchoscopy industry garnered $2.55 billion in 2020, and is projected to generate $4.88 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030.

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Prime determinants of growth

Increase in prevalence of respiratory diseases, growth in demand for minimally invasive surgery, and technological advancement in bronchoscopy propel the growth of the global bronchoscopy market. However, lack of trained physicians and pulmonologists restricts the market growth. On the other hand, growing prospects in emerging markets present new opportunities in the coming years.

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The endoscope segment to lead in terms of revenue throughout the forecast period

By product, the endoscope segment held the highest market share in 2020, contributing to nearly three-fifths of the total share of the global bronchoscopy market, and is estimated to continue to lead in terms of revenue throughout the forecast period. In addition, this segment is also anticipated to witness the fastest CAGR of 6.9% from 2021 to 2030. This is due to high cost of bronchoscopes compared to the imaging systems and accessories, rise in prevalence of lung cancer, and technological advancements.

The bronchial treatment segment to maintain its leadership status by 2030

By application, the bronchial treatment segment accounted for the largest market share, holding nearly three-fourths of the global bronchoscopy market in 2020, and is expected to maintain its leadership status by 2030. Furthermore, the segment is also projected to manifest the largest CAGR of 6.5% during the forecast period. This is attributed to surge in prevalence of target diseases, which will drive the demand for bronchoscopy equipment in therapeutic procedures. Also, growth in prevalence of respiratory diseases contributes to the growth of the bronchoscopy market.

North America to maintain its dominant share during the forecast period

By region, North America contributed to the highest share of the global bronchoscopy market, accounting for more than one-third of the total share in 2020, and will maintain its dominant share during the forecast period. This is attributed to rise in the incidence and prevalence of chronic respiratory diseases, favorable reimbursement scenario in the US, and rising incidence of lung cancer in Canada. However, Asia-Pacific is estimated to register the fastest CAGR of 7.3% from 2021 to 2030. This is due to factors such as the surge in number of hospitals, developing healthcare infrastructure, rise in healthcare expenditure, increase in geriatric population, and the presence of a large patient population.

Leading market players

Olympus Corporation
Karl Storz
Fujifilm Holdings Corporation
Ambu A/S
Boston Scientific Corporation
Medtronic
Johnson & Johnson
Hoyo Corporation
Richard Wolf GmbH
Cook Medical

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