The global bronchoscopy market size accounted for USD 2.8 billion in 2022 and is projected to hit around USD 5.74 billion by 2032, growing at a CAGR of 7.5% during the forecast period from 2023 to 2032.
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The number of investments made in hospitals has grown largely due to the growing need for bronchoscopy facilities. An increase in the number of respiratory diseases could be due to many reasons some of which are changes in lifestyle and exposure to pollution. Bronchoscopy is known to be a pulmonology procedure that is interventional. It is performed with the help of the Bronchoscope. In recent years the demand for reusable devices has grown significantly which will lead to the growth of the market during the forecast period.
Endoscopic examination is done with the help of this device and it also helps in detecting any issues with the airways. Growing cases of pneumonia, bronchitis, airway stenosis, tumor, lung cancer, and COPD will drive the market growth during the forecast period. This procedure has important therapeutic indications and diagnostic indications. This procedure is an aerosol-generating process. This is seen to be a high-risk procedure. Close contact of the service provider and the patient increases the risk of contamination of various equipment and it also increases the risk of cross-infection.
There are many reasons that will drive the market growth during the forecast period like the growing cases of respiratory diseases. Increasing pollution in most regions across the world will also drive market growth in the coming year. Favorable reimbursement policies will also drive must be there and it will also increase the use or previous devices and products used in the treatment and the diagnosis. Technological advancements will also play a significant role in the growth of this market during the forecast period. A large number of patients suffering from lung cancer and the increasing number of lung cancer in most of regions across the world will be significant factors that will lead to the growth of the market in the coming years.
Many opportunities for the growth of this market will be provided by the emerging markets of various nations across the world. Constant exposure to pollutants and other harmful gases present in the environment will help in the growth of the market during the forecast period. The increase in the geriatric population across the world is yet another reason that will increase the cases of respiratory diseases and drive market growth.
Lung diseases are extremely common among older adults. The life expectancy of the population has reduced drastically due to the increasing cases of pollution. The need for this procedure is extremely important not only for detection but also helps in the restoration of the airway. When patients suffer from the obstruction of the airway the use of this procedure plays a significant role. The number of chronic diseases of the respiratory tract has grown in recent years. Growing cases of lung cancer will also be another factor that will drive the market growth.
Report Scope of the Bronchoscopy Market
|Market Size in 2023||USD 3 Billion|
|Market Size by 2032||USD 5.74 Billion|
|Growth Rate from 2023 to 2032||CAGR of 7.5%|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2023 to 2032|
Key Market Drivers
Key Market Challenges
Key Market Opportunities
On the basis of the type of the product, the endoscope segment will have a larger market share of around 41% in 2022, and in the coming years, it will generate maximum revenue. this segment has dominated the market in the past and it shall grow with the highest compound annual growth rate in the coming years.
Technological advancements will also play a significant role in the growth of this segment. As the cases of lung cancer have increased across various nations the need for endoscopy will increase.
On the basis of the usability of the product, the demand for disposable equipment is expected to have a larger market share in the coming years. Reduced risk of cross-infection is expected to be an instrumental factor in the growth of this segment which will help in generating a good amount of revenue in the coming years. The high cost of maintenance associated with the use of reusable material makes it less desirable to hospitals and surgical centers. It also increases the risk of infection for the service provider.
End User Insights
The hospital segment is expected to have a larger market share as a large number of patients visit the hospitals on a regular basis. Growing cases of chronic disorders will increase the visits of patients to the hospitals and the availability of the equipment used in various procedures will drive the market growth of this segment. Increasing need for surgeries for clearing the air passage and in the case of lung cancer the need for bronchoscopy is expected to generate a good amount of revenue during the forecast period. The clinics segment is also expected to have significant growth in the coming years due to the availability of the device used for the diagnosis of the disease associated with the respiratory tract.
Bronchoscopy Market Share, By Region, 2022 (%)
|Regions||Revenue Share in 2022 (%)|
North American region has dominated this market in the past and it should continue to grow well during the forecast period as it will generate maximum revenue in the market during the forecast period. As the cases of respiratory diseases of the chronic type have increased in this area and the availability of favorable reimbursement policies in various nations of the North American region will drive market growth in the coming years period the reimbursement policies in the United States are extremely favorable. Growing cases of cancer of the lung especially in the nations like Canada and the United States will drive the market growth. As the number of investments made in the infrastructure of the hospitals have increased in recent years the Asia Pacific region will also show significant growth in the coming years. The amount of expenditure made in the healthcare sector has also increased as the disposable income of the population in these regions has increased. A growing geriatric population will also play an instrumental role in the growth of the Asia Pacific region.
Key Market Developments
Key Market Players
Segments Covered in the Report
By End User
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