Global Bronchial Biopsy Devices Market 2023-2030

Global Bronchial Biopsy Devices Market 2023-2030

Global Bronchial Biopsy Devices Market Size, Share & Trends Analysis Report by Product (Biopsy Forceps, Transbronchial Needle Aspiration (Tbna) Needles, and Cytology Brushes), and by End-Use (Hospitals, Diagnostic Imaging Centers, Research and Academic Institutes, and Others), Forecast Period (2024-2031)

The global bronchial biopsy devices market is anticipated to grow at a CAGR of 7.4% during the forecast period. Pivotal factors include prevalence of respiratory diseases such as lung cancer, chronic obstructive pulmonary disease (COPD), rising geriatric population, and increasing demand for minimally invasive procedures driving the market growth. According to the Lung Cancer Research Foundation, in 2023, an estimated 238,340 people will be diagnosed with lung cancer in the US. Lung cancer affected 1 in 16 persons in their lifetime 1 in 16 males and 1 in 17 women. Further, the ageing population is more inclined to respiratory diseases, which increases the demand for diagnostic procedures such as bronchial biopsies to address these health issues. In November 2022, the article “Senior Population Statistics: A Portrait of Aging Americans”, reported 54.1 million adults or 16.3% of the US population are seniors including aged 65 or older. The senior population is expected to rise to 22.0% by 2040 and 25.0% by 2060.

Segmental Outlook

The global Bronchial Biopsy Devices market is segmented on the product, and end user. Based on the product, the market is sub-segmented into biopsy forceps, transbronchial needle aspiration (Tbna) needles, and cytology brushes. Further, based on end user, the market is sub-segmented into hospitals, diagnostic imaging centers, research and academic institutes, and others. Other includes breast care centers. Among the end users, the hospitals sub-segment is anticipated to hold a considerable share of the market, owing to the advance facilities, easily accessible, transportation and housing assistance.

The Transbronchial Needle Aspiration (Tbna) Needles Sub-Segment is Anticipated to Hold a Considerable Share of the Global Bronchial Biopsy Devices Market

Among the product, the TBNA needles sub-segment is expected to hold a considerable share of the global bronchial biopsy devices market, owing to the rising prevalence of lung cancer globally, coupled with the demand for accurate, cost-effective, and minimally invasive diagnostic procedures, contributing to the demand for TBNA devices. According to the National Institutes of Health (NIH), over the past decade, endobronchial ultrasound-guided TBNA (EBUS-TBNA) has become the preferred diagnostic procedure for evaluating undiagnosed intrathoracic lymphadenopathy. EBUS-TBNA is currently the preferred method for mediastinal staging of lung cancer. As per the published article titled “Endobronchial Ultrasound-Guided Transbronchial Needle Aspiration: Techniques and Challenges,” among 669 respiratory physicians throughout India, only 27.0% of surveyed respiratory physicians in India performed EBUS-TBNA, while 74% used conventional TBNA. Such factors compelled the key players to launch product to carer the demand of the product in the market. In September 2023, Broncus Medical introduced the new BioStar Transbronchial Aspiration Needle (TBNA) for minimally invasive diagnostic applications. It has been designed to be used for both conventional TBNA (cTBNA) and EBUS-TBNA diagnostic techniques. The company offers the needle in 21G, 22G and 25G configurations.

Regional Outlook

The global bronchial biopsy devices market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, the Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the rising prevalence of lung cancer, cohesive government initiatives and healthcare policies, improving healthcare infrastructure in emerging economies are driving the bronchial biopsy devices market in the Asia-Pacific.

The North America Region is Expected to Grow at a Significant CAGR in the Global Bronchial Biopsy Devices Market

Among all regions, North America region is anticipated to grow at a considerable CAGR over the forecast period. The North America market is growing owing to the presence of a well-developed healthcare sector, along with the rising prevalence of prevalence of respiratory diseases. Additionally, rising awareness, increasing demand for innovative bronchial biopsy devices, and rising healthcare expenditure are projected to drive market growth during the forecast period. According to the Organization for Economic Co-operation and Development (OECD), in 2021, the US spent 17.8% of gross domestic product (GDP) on healthcare, nearly twice as much as the average OECD country. Additionally, as per the data published by the Centers for Medicare & Medicaid Services (CMMS), in March 2022, the report found that annual growth in national health spending is projected to average 5.1% over 2021-2030, and to reach nearly $6.8 trillion by 2030. Growth in the nation’s GDP is also anticipated to be 5.1% annually over the same period. As a result of the comparable projected rates of growth, the health share of GDP is expected to be 19.6% in 2030, nearly the same as the 2020 share of 19.7%. Thus, the growing health spending in the country is estimated to increase company activities and government initiatives in developing efficient bronchial biopsy devices, thus pushing the market growth.

Market Players Outlook

The major companies serving the bronchial biopsy devices market include Becton, Dickinson, and Co., Cook Medical Inc., CONMED Corp., Medtronic plc, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2023, Menarini Silicon Biosystems partnered with Alivio Health to expand patient access to CELLSEARCH® liquid biopsy tests. The agreement allowed Alivio Health clients and providers preferred access to CELLSEARCH CTC tests, facilitating longitudinal monitoring of cancer patients at different disease stages.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global bronchial biopsy devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.