Bronchoscope Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Bronchoscope Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Bronchoscope market is projected to register a CAGR of 7.2% during the forecast period (2022–2027).

The COVID-19 pandemic continues to pose a threat to the world, particularly to those who are already suffering from lung disease. Lung cancer patients have faced numerous challenges as a result of the pandemic. According to an article published in March 2022 titled "Pre- and post-COVID practice of interventional pulmonology in adults in Portugal" the interventional pulmonary unit's equipment such as disposable bronchoscopes is noticeably heterogeneous, and 56.8% of it was purchased after COVID-19 pandemics. Even when deep sedation or biopsies are not anticipated, more than 90% of the units routinely request pre-bronchoscopy hemogram, platelet count, and coagulation tests. Moreover, according to the study titled "Single-Use (Disposable) Flexible Bronchoscopes: The Future of Bronchoscopy?" published in the Advances in Therapy in September 2021, in the COVID-19 pandemic, bronchoscopy, an aerosol-generating procedure, carries a significant risk of viral transmission. Single-use flexible bronchoscopes (SUFBs) can lessen the amount of SARS-CoV-2 exposure among medical staff. Thus, given the ongoing pandemic and increasing challenges, the studied market is expected to be significantly impacted by the current crisis.

A bronchoscope is a device that is used in bronchoscopy for the diagnosis of lower respiratory diseases. An increase in the number of cases related to respiratory diseases and developments related to products is expected to have a major impact on the bronchoscope market. As per the American Cancer Society 2022, lung cancer (both small cell and non-small cell) is the second most common cancer in both men and women. Lung cancer is by far the leading cause of cancer death among both men and women, making up almost 25% of all cancer deaths. Besides, according to the September 2021 report by the American Lung Association, while the disease remains the leading cause of cancer deaths among both women and men, over the past five years, the survival rate has increased by 14.5% nationally. Hence, all these factors have been driving the growth of the market.

Moreover, market players are frequently launching new products and adopting various growth strategies in their respective segments, which is likely to drive market growth. For Instance, in April 2021, Olympus reported the addition to its United States bronchoscopy portfolio of the 510(k)-cleared H-SteriScope Single-Use Bronchoscopes, a line of five premium endoscopes for use in advanced diagnostic and therapeutic procedures. The introduction of the H-SteriScope portfolio has been a collaboration between Veran Medical Technologies, Inc., a wholly owned Olympus subsidiary, and Hunan Vathin Medical Instrument Co., Ltd. Additionally, in May 2021, PENTAX Medical Europe, has obtained a CE mark for its new single-use bronchoscope – the PENTAX Medical ONE Pulmo. This innovative product provides high quality care without compromise in pulmonary care. The PENTAX Medical ONE Pulmo is a single-use bronchoscope with superior suction power and HD image quality.

Thus, all aforementioned factors is expected to drive the growth of the market over the forecast period. However, the risk of contamination of devices may hinder the growth of the bronchoscope market and is among the major restraints to this market.

Key Market TrendsSingle Use Bronchoscope Segment is Expected to Hold a Major Market Share in the Bronchoscope Market

The single-use bronchoscopes can be applied in a variety of diagnostic and therapeutic procedures. They offer the flexibility to perform procedures at any time, anywhere with assurance. The single-used bronchoscope is used for multi-usage and cost-effectiveness which are very much useful in clinics and hospitals. This helps in the widespread development of the industry. The single-use bronchoscope is much more effective and is safe as a tool to give protection from pathogens, viruses, and bacteria which even cause death in many humans. These are helpful for the detection of diseases like tumors, COPD, cancer of the lungs, and many more. These bronchoscope devices help in the reduction of infection. According to the study titled "Single-Use and Reusable Flexible Bronchoscopes in Pulmonary and Critical Care Medicine" published in the Diagnostics in January 2022, in certain circumstances in the bronchoscopy and intensive care units, using a single-use bronchoscope over a reusable bronchoscope confers an advantage due to its portability, immediate availability, and theoretically lower risk of clinically relevant infections. Thus due to the above benefits of single-use bronchoscope over the reusable bronchoscope is expected to boost the segment growth.

The development of cutting-edge products by major market players and technological advancements in products are expected to boost the segment growth. For Instance, in August 2021, Boston Scientific Corporation announced United States Food and Drug Administration (FDA) clearance of the EXALT Model B Single-Use Bronchoscope, designed for use in bedside procedures within the intensive care unit (ICU) and operating room (OR) also single-use bronchoscope designed to eliminate the infection risk associated with reusable devices. Thus, all aforementioned factors are expected to boost the segment growth over the forecast period.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

North America is expected to hold a major market share in the global bronchoscope market due to the increasing number of bronchoscopy procedures and higher prevalence rates of respiratory diseases such as lung cancer. Additionally, as per the article published by the Cancer Treatment Centers of America in January 2022 on lung cancer types, lung adenocarcinoma is the most common form of lung cancer, accounting for 30% of all cases overall and about 40% of all non-small cell lung cancer occurrences. As per the same source, squamous cell lung cancer accounts for about 30% of all non-small cell lung cancers and is commonly associated with smoking. In most cases of NSCLC, large-cell undifferentiated carcinoma accounts for 10% to 15% of all cases. Large-cell undifferentiated carcinoma has a proclivity for rapidly growing and spreading. This indicates the burden of lung cancer in this country and this is resulting in the growth of the market studied as there is a high demand for Bronchoscopes in the United States.

According to the American Cancer Society 2022, approximately 236,740 new cases of lung cancer were recorded in 2020, thereby expected to increase the demand for bronchoscope devices. According to the National Centre of Biotechnology Information in June 2021, around 500,000 procedures of bronchoscopy are performed in the United States every year. Hence, it is expected to boost the bronchoscope market growth.

Furthermore, new product launches will also favor the overall segment growth over the forecast period. For Instance, in July 2021, Verathon announced the release of the BFlex 2.8 Single-use Bronchoscope. BioFlex single-use bronchoscopes are designed specifically for the critical needs of the ICU and Emergency department. Such regional advancement is expected to boost the market growth in the North American region.

Competitive Landscape

The Bronchoscope Market is fragmented and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Teleflex Inc., Karl Storz GmbH, Olympus Corporation, Lymol Medical, Fujifilm Holdings Corporation, Broncus Medical Inc, Novatech SA, Boston Scientific Corporation, Pentax Medical and Ambu A/S

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