Bronchoscopes Market Growth & Trends
The global bronchoscopes market size is expected to reach USD 29.6 billion by 2025, according to a new report by Grand View Research, Inc., at an 8.3% CAGR during the forecast period. Demand for bronchoscopes is increasing due to rising prevalence of respiratory diseases, favorable reimbursement policies, and technological advancements.
Increasing prevalence of respiratory diseases is the primary factor resulting in high demand for bronchoscopes. According to the World Cancer Research Fund International, around 58.0% of lung cancer cases in 2012 occurred in less developed countries.
Some of the companies in the market are Teleflex Incorporated, Olympus Corporation, Ambu A/s, Karl Storz, Fujifilm Holdings Corporation, Boston Scientific Corporation, and Cogentix Medical.
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Bronchoscopes Market Report Highlights
Increasing prevalence of respiratory diseases, favorable government policies, and growing geriatric population is primarily driving the market
Reusable bronchoscopes capturedthe largest market share in terms of usage in 2016, while flexible bronchoscopes accounted for dominant share by type. This can be attributed to the many advantages they offer, such as multi-usage and cost effectiveness in hospitals
North America is the dominant market, followed by Europe. Presence of large number of players and increasing prevalence of lung cancer are the prime factors responsible regional growth
Key players in the market include Teleflex Incorporated, Olympus Corporation, Fujifilm Holdings Corporation, Boston Scientific Corporation, and Cogentix Medical.