SAN FRANCISCO, Jan. 10, 2022 /PRNewswire/ -- The global disposable bronchoscopes market size is expected to reach USD 1.3 billion by 2028, registering a CAGR of 13.4% from 2022 to 2028, according to a new report by Grand View Research, Inc. Growing incidence of chronic respiratory disorders, such as COPD, lung stenosis, lung cancer, tumors, bronchitis, pneumonia, and lung infections, is the factor driving the market. Moreover, the growing demand for same-day surgeries or minimally invasive procedures due to shortened hospitalization, quicker recovery, and reduced postoperative care is driving the growth. The growing awareness levels about product benefits, such as reduced infection and contamination rate, are positively impacting the growth.
Key Insights & Findings from the report:
- The global market is anticipated to have significant growth over the forecast period
- This is due to the growing preference for minimally invasive surgeries over open surgeries and the rising prevalence of chronic lung disorders
- The hospitals' segment dominated the global market in 2021 owing to the advancements in the hospital infrastructure and rapid product adoption
- North America accounted for the largest revenue share in 2021 and will expand further at a steady CAGR during the forecast period
- The growth was credited to the advancements in healthcare infrastructure, rapid adoption of technologically advanced solutions, and rising demand for minimally invasive procedures
Read 118 page market research report, "Disposable Bronchoscopes Market Size, Share & Trends Analysis Report By End-use (Hospitals, Clinics, Diagnostic Centers), By Region (North America, Asia Pacific), And Segment Forecasts, 2022 - 2028", by Grand View Research
Frequent product approvals are broadening the product portfolio of key players and catering to the growing demand. The hospitals' end-use segment dominated the market in 2021 owing to the growing favorable reimbursement policies, advancing healthcare infrastructure, higher adoption & utilization of disposable devices. Moreover, in several countries, hospitals are regarded as preliminary healthcare systems and therefore, a higher number of procedures are conducted in hospitals as compared to other healthcare facilities. On the other hand, the clinics' segment is anticipated to register the fastest CAGR over the forecast years owing to the growing trend of same-day surgeries. North America dominated the global market in 2021.
The quick adoption of advanced healthcare technologies, growing prevalence of chronic lung disorders, rising geriatric population, advancing healthcare infrastructure, presence of key players, and growing healthcare expenditure are driving the North American market. However, Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period owing to the presence of lesser regulatory frameworks, rapidly growing population suffering from chronic lung diseases, and increasing growth opportunities attracting international investors and key players to set up manufacturing facilities and distribution centers in the region.
Grand View Research has segmented the global disposable bronchoscopes market based on end-use and region:
- Disposable Bronchoscopes End-use Outlook (Revenue, USD Million, 2014 - 2028)
- Diagnostic Centers
- Disposable Bronchoscopes Regional Outlook (Revenue, USD Million, 2014 - 2028)
- North America
- Asia Pacific
- New Zealand
- Latin America
- Middle East Africa
- South Africa
- Saudi Arabia
List of Key Players of Disposable Bronchoscopes Market
- Olympus Corp.
- NeoScope, Inc.
- FUJIFILM Holdings Corp.
- Stryker Corporation
- Boston Scientific Corp.
- Karl Storz GmbH & Co. KG
- Smith & Nephew, Inc.
- Richard Wolf GmbH
- PENTAX Medical
- AMBU A/S
Check out more studies related to bronchoscopy and endoscopy, published by Grand View Research:
- Bronchoscopes Market – The global bronchoscopes market size valued at USD 15.4 billion in 2017 and is expected to grow at a compound annual growth rate (CAGR) of 8.3% from 2018 to 2025. Demand for bronchoscopes has been on a rise due to the increasing prevalence of respiratory diseases, improving reimbursement policies, and technological advancements.
- Endoscopy Devices Market – The global endoscopy devices market size was valued at USD 41.0 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2021 to 2028. The shift in the trend of adoption from traditional open surgeries to minimally invasive procedures by healthcare professionals and patients is one of the major factors boosting the market.
- Endoscopes Market – The global endoscopes market size was valued at USD 11.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.2% from 2021 to 2028. The growing awareness regarding the benefits of minimally invasive surgeries as compared to open invasive surgeries and the rising prevalence of chronic diseases, such as cancer, heart diseases, and diabetes, are some of the key factors driving the market.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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