Bronchoscopy Market Size By Product Type (Rigid Bronchoscopes, Flexible Bronchoscopes), By Product Usage (Single Use/ Disposable, Reusable), By Age Group (Adult, Pediatric), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Compe

Bronchoscopy Market Size By Product Type (Rigid Bronchoscopes, Flexible Bronchoscopes), By Product Usage (Single Use/ Disposable, Reusable), By Age Group (Adult, Pediatric), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2028

The global bronchoscopy market is expected to grow exponentially by 2028 on account of rising prevalence of lung cancer due to surging rates of indoor and outdoor air pollution. Bronchoscopy is the procedure used to examine respiratory organs internally with the help of a bronchoscope.

Bronchoscopy helps diagnose lung disease, tumor in air passage, an infection or cause of fever and is used to treat cancer, remove fluid or mucus, and extract a foreign object. Some recent innovations in diagnostic bronchoscopy, including virtual magnetic navigation (VMN) or electromagnetic navigation (EMN) and endobronchial ultrasound (EBUS), have positively influenced the product landscape of the bronchoscopy market.

For instance, in a March 2022 paper published in Soft Robotics, scientists from the University of Leeds designed an autonomous snake-like magnetic tentacle robot that can enter the smallest bronchial tubes in the lungs and collecting tissue samples to deliver cancer treatment. Existing bronchoscopes are 3.5-4mm, whereas the novel robot is only 2mm wide, which offers better capabilities in scanning patient’s lungs for cancerous tissue.

The global bronchoscopy market has been fragmented based on product type, product usage, end-use, and region. In terms of product type, the market has been bifurcated into rigid bronchoscopes, flexible bronchoscopes, and others.

The rigid bronchoscopes segment is anticipated to exhibit a CAGR of about 7.6% between 2022 and 2028 owing to increasing product launches to efficiently manage airway disorders. Rigid bronchoscopes offer various benefits, such as a larger diameter that allows the use of relatively bigger or multiple accessories, better ability to remove blood and other components from airway, which is poised to fuel the growth of the segment.

Based on product usage, the bronchoscopy market has been categorized into single use/disposable and reusable. Among the two, the single use/disposable segment garnered more than USD 1 billion in revenue in 2021 and is slated to witness robust growth through 2028. Growing number of patients suffering from pneumonia, lung cancer, bronchitis, and other lung disorders is driving the demand for risk-free medical equipment, which is likely to fuel segmental growth in the coming years.

Sterilization remains unsuccessful in eliminating bronchoscope-related cross-infections and instead increases costs with longer turn-around time, decreased capacity, and increased frequency of repair. Single-use bronchoscopes have hence gained popularity as an ideal solution owing to minimized risk of cross contamination associated with their use, which is set to further support segmental expansion.

In terms of end-use, the bronchoscopy market has been classified into adult and pediatric. In 2021, the pediatric segment exceeded a valuation of USD 400 million and is projected to observe strong growth over the analysis timeline owing to the availability of a broad range of different sized bronchoscopes for children. Additionally, mounting preference for minimally invasive procedures among this age group is speculated to foster segmental outlook.

In the regional landscape, the Latin America bronchoscopy market is expected to grow considerably at a CAGR of approximately 7.0% from 2022 to 2028 due to growing geriatric population in the region. Moreover, rising healthcare expenditure and surging prevalence of lung cancer are likely to augment product adoption in LATAM over the forecast period.