The Business Research Company’s Bronchoscope Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 23, 2024 /EINPresswire.com/ -- The global bronchoscope market is set to experience significant growth, with projections showing an increase from $2.74 billion in 2023 to $3.02 billion in 2024, reflecting a compound annual growth rate (CAGR) of 10.4%. The market is expected to continue its upward trajectory, reaching $4.51 billion by 2028 at a CAGR of 10.5%. This growth can be attributed to various factors, including increasing awareness and acceptance, advances in medical training and education, expanded clinical applications and endobronchial interventions, the rising demand for minimally invasive techniques, and the dynamics of an aging population.

Rising Demand for Minimally Invasive Procedures Drives Market Growth
The increasing demand for minimally invasive procedures (MIPs) is expected to propel the growth of the bronchoscope market in the coming years. MIPs, which are surgical procedures performed through small incisions in the body, offer numerous advantages, such as reduced invasiveness, enhanced patient preference, quicker recovery times, and lower complication rates. The development of advanced instrumentation, including flexible and video bronchoscopes, further enhances the precision and effectiveness of these procedures. According to a 2023 report by the International Society of Aesthetic Plastic Surgery (ISAPS), there was a 19.3% overall increase in procedures performed by plastic surgeons in 2021 compared to 2020, with more than 12.8 million surgical and 17.5 million non-surgical procedures performed worldwide. This trend indicates a growing preference for minimally invasive techniques, driving the demand for bronchoscopes.

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Major Players and Market Trends
The bronchoscope market is highly competitive, with major companies including Ambu A/S, Boston Scientific Corporation, Cogentix Medical Inc., Cook Medical LLC, Fujifilm Holdings Corporation, Hoya Corporation, Karl Storz Endoscopy SE & Co. KG, and Olympus Corporation leading the industry. These companies are increasingly focusing on the development of minimally invasive procedures to maintain a competitive edge. For example, in September 2021, MountainView Hospital & Medical Center in the U.S. launched a new minimally invasive robotic-assisted lung biopsy procedure using the ION robotic-assisted bronchoscopy platform. This advanced procedure enhances lung cancer detection by extending the reach of the bronchoscope into all 18 segments of the lungs, a task often challenging with traditional bronchoscopy. This initiative, which utilizes an ultra-thin catheter with a flexible biopsy needle, aims to improve lung cancer survival rates through early detection and intervention.

In addition to procedural innovations, there are notable mergers and acquisitions shaping the market. In May 2022, Medtronic plc acquired Intersect ENT, a U.S.-based medical device company specializing in drug-delivery devices for ENT conditions. This acquisition has expanded Medtronic’s ENT portfolio with innovative sinus implant products, strengthening the company's position in the global healthcare technology market.

Segments:
•Type: Rigid Bronchoscopes, Flexible Bronchoscopes
•Usability: Reusable Bronchoscopes, Disposable Bronchoscopes
•Application: Diagnosis, Treatments
•End User: Hospitals, Clinics, Ambulatory Surgical Centers, Other End Users

Geographical Insights: North America Leading
North America dominated the bronchoscope market in 2023, driven by advanced healthcare infrastructure and high adoption of cutting-edge medical technologies. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period, fueled by increasing healthcare investments, rising prevalence of respiratory disorders, and a growing aging population.

Access the complete report for an in-depth analysis of the global bronchoscope market:
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Bronchoscope Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Bronchoscope Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on bronchoscope market size, bronchoscope market drivers and trends, bronchoscope market major players, bronchoscope competitors' revenues, bronchoscope market positioning, and bronchoscope market growth across geographies. The bronchoscope market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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