Bronchoscopes Market set to Register 4.3% CAGR During 2018-2028 According to Future Market Insights
As per its latest report, Bronchoscopes Market, the company has reported estimated steady increase in revenues derived from sales of bronchoscopes throughout the forecast period. Revenues from global bronchoscopes market is projected to expand at a CAGR of 4.3% over 2018-2028. Growing population base aged over 65 years and rapid increase in incidence of pulmonary disorders are primary factors estimated to push market revenues across all regional markets.
The global bronchoscopes market, though mature, exhibits an incremental opportunity US$ 224.3Mn over the forecast period. Bronchoscopy is an endoscopy technique, used to diagnose and treat respiratory diseases, thus helping the user to analyze the distal branches of the bronchi. Bronchoscopy procedure is done by a thin, lighted tube known as bronchoscopes, which is entered from the mouth and nose into the system. Bronchoscopes enables miniaturizing to the smallest point enhancing visualization. Availability of developed healthcare infrastructure is fuelling the adoption of bronchoscopes for pulmonary imaging purpose and quickening the diagnosis of diseases.
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Most European countries and Japan are witnessing a rapid ageing in its population base. According to World Population Prospects-2017, the number of geriatric people (aged 60 +) is expected to be more than double (2.1 Bn) by 2050 and to more than triple (3.1 Bn) by 2100. This will increase application of bronchoscopes over the forecast period. According to Centers for Disease Control and Prevention, 3.5 million people in America have been recognized with a type of chronic obstructive pulmonary disorders, severe emphysema. It is seen that there is an increase in the incidence of respiratory disorders due to which demand of bronchoscopes is also increasing. It is seen that 500,000 bronchoscopy procedures are undertaken through bronchoscopes per year in the U.S. alone.
There are several Bronchoscopes which are launched recently and has advance technology such as charge-coupled devices (CDD) due to which it is highly in demand by various end users such as hospitals. The Flexible Fiber Bronchoscopes is expected to hold the largest market share over the forecast period which indicates the high demand of the product throughout the forecast period. Bronchoscopes are also used to diagnose tumors, chronic cough, pulmonary infections, etc. Physicians also use bronchoscopes to deliver medication to patient’s lungs and/or remove objects that could be caught in airways.
Bronchoscopes Market: Rising Global Prevalence of Respiratory Disorders Among the Growing Geriatric Population to Fuel Demand: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028: https://www.futuremarketinsights.com/reports/bronchoscopes-market
Competition from alternative treatment methods and growing regulatory stringency concerning patient safety are factors dampening the revenue prospects of the bronchoscopes market. Physicians prefer flexible fiberoptic bronchoscopes because of improved patient comfort and reduced use of anesthesia.
The company has segmented the Bronchoscopes market into product type, modality, and end users. On the basis of product type, Video Bronchoscopes holds the highest revenue share due to application of advanced charge-coupled technology. On the basis of modality type, Flexible Fibre Bronchoscopes exhibits the highest market share in year 2018. On the basis of end user, Hospitals end user segment holds the highest revenue and market share in year 2018 which is followed by Outpatient Centres.
On the basis of region, Europe region is expected to account for the largest revenue share with US$ 131.1Mn in 2018 in bronchoscopes market. However, Asia Pacific Bronchoscopes market is expected to account for highest market share at the end of the forecast period due to increased adoption across healthcare facilities. Additionally, most key bronchoscopes manufacturers are focusing on the emerging markets such as Asia-Pacific due to large unmet needs in the region and thus manufacturers of bronchoscopes have better growth potential and scope of expanding their distribution channel in the region.
Change in disease patterns triggered by rising luxury, changing lifestyle, raise in demand for quality healthcare & improved access to healthcare services make the emerging markets highly cost effective for the bronchoscopes manufacturing companies. Latin America and Middle East & Africa have the least lucrative bronchoscopy market.
The company’s report tracks some of the key companies operating in the Bronchoscopes market, such as Olympus Corporation, Fujifilm Holdings Corporation, Teleflex Incorporated, KARL STORZ GmbH & Co KG, Richard Wolf GmbH. HOYA Corporation. (Subs. PENTAX Medical), Ambu A/S, Shanghai AoHua Photoelectricity Endoscope Co., Ltd. Rochling Group.
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