Bronchoscopes Market Estimated To Reach USD 2,244.4 Million at CAGR of 7.4% Forecasts by 2023 | Asserts MRFR

“Bronchoscopes Market”
The Worldwide Bronchoscopes Market is growing mainly due to growing awareness about the chronic diseases, and increase in healthcare infrastructure. According to a recent study report published by the Market Research Future, the bronchoscopes market is booming and expected to gain prominence over the forecast period.

Worldwide Bronchoscopes Market – Overview:

Bronchoscopy is an invasive procedure that allows a doctor to examine the patient’s airway and lungs for any discomfort faced by the patients and any abnormality such as foreign bodies, potential development of tumors, bleeding of lungs, or simply an inflammation.

Due to presence of various market players in this region such as Olympus Corporation, and Boston Scientific Corporation, and high healthcare expenditure, the Americas dominate the global Bronchoscopes market. In November, 2016, Boston Scientific acquired EndoChoice Holdings, Inc. EndoChoice is a Georgia based company, focused on the development and commercialization of infection control products, single-use devices, and pathology services.

Notably, increasing number of bronchoscopy procedures, and rising research and development expenditure are the primary drivers for bronchoscopes market. According to the 2014 data suggested by Eurostat, diagnostic bronchoscopes were increased by nearly 25% in Ireland, Denmark, Finland and Romania.

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Other push factors such as, increasing prevalence of respiratory tract diseases, changing environmental condition, changing environmental condition, increasing preference for minimally invasive procedures, growing geriatric population, presence of a large base of the patient population, improvement in reimbursement policies, unmet medical needs in emerging economies, and rapid advancements in medical product offerings are also fuelling the growth of the market.

Despite these drivers, high cost of bronchoscopes, increasing incidence of infections, and poor healthcare system in low and middle-income countries, are expected to hinder the growth of the bronchoscopes market during the forecast period.

Bronchoscopes Market – Competitive Analysis:

The bronchoscopes market is currently dominated by various players. Due to rising demand for minimally invasive procedures, various existing and new marketers are continuously coming up with advanced treatment approaches. The global bronchoscopes market is currently dominated by numerous players.

Boston Scientific Corporation is one of them by holding a strong share in the market. The company’s stronghold is largely attributed to its innovative and sustainable products. In June, 2017, company has launched Alair bronchial thermoplasty therapy in India. Alair bronchial thermoplasty uses a bronchoscope to deliver radiofrequency energy to reduce the amount of excess smooth muscle tissue in the airways.

PENTAX Medical is another renowned player in the market. In August, 2017, the company has launched an ultrasound video bronchoscope in combination with Hitachi’s innovative ultrasound systems. In the same year, Pentax has also announced the collaboration with AOHUA to improve the standard of patient care and quality of healthcare, and acquired C2 Therapeutics to expand interventional endoscopy offering.

In July, 2016, Pentax launched new high-definition pulmonology endoscopy system to deliver outstanding HD image quality

In May, 2016, Ambu Inc has launched Ambu aScope 3 Large bronchoscope, and received approval for sale in China

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Bronchoscopes Market – Regional Analysis:

Owing to the increasing prevalence of respiratory tract diseases and high healthcare expenditure, the Americas region dominates the bronchoscopes market. According to the American Lung Association, lung cancer affects more than 370,000 Americans, and represents USD 14 billion healthcare expenditure each year. Increasing adoption of bronchoscopes offers great opportunity to the bronchoscopes market. Flexible bronchoscopy has become the most commonly used invasive technique for the diagnosis and treatment diseases of the lungs and bronchi. According to the Centers for Disease Control and Prevention, nearly 500,000 bronchoscopies being performed each year in the U.S. alone. Being non-invasive procedures, bronchoscopic technique plays an important role in the diagnosis of respiratory diseases, especially, in geriatric population.

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