The bronchoscopes market is highly fragmented owing to growing number of firms especially from developing regions with poor manufacturing and labor laws. The market represents a bimodal curve with low- and high-end vendors. Low-end vendors are competing on price resulting in pressure on returns on investment. However, the high end products can charge a premium, which will result in market growth.
The growing adoption of bronchoscopy procedures and surging geriatric population have created lucrative growth opportunities for the players operating in the bronchoscopes market. Olympus Medical, PENTAX Medical, and KARL STORZ hold large revenue shares in the global bronchoscopes market. The development of healthcare infrastructure around the world is also expected to drive the growth of the bronchoscopes market.
Growing Geriatric Population and Screening Rates
The increasing screening rates as well as geriatric population are expected to be the critical drivers of the bronchoscopes market. Ageing population is becoming one of the most significant social transformations. Globally, the population aged 60 and above is growing at a rapid pace than all younger age groups. The world’s population is ageing at such a rate that those aged 60 or above account for over 10%, which is likely to rise to over 20% by 2050.
According to the World Population Prospects 2017, the number of aged population (those aged 60 years and above) is expected to be more than double (2.1 billion) by 2050. The frequently growing geriatric population is consequently projected to increase the adoption of bronchoscopes as people aged above 60 years are at a high risk of developing diseases, such as chronic lung diseases.
Growing Prevalence of Chronic Obstructive Pulmonary Disorders
Bronchoscopy procedures are common in the clinical settings. Around 500,000 procedures are performed per year in the U.S. These procedures are generally regarded as safe and effective. Moreover, the growing number of cases of cancer, chronic obstructive pulmonary disorders due to excessive smoking, consumption of alcohol and pollution is also expected to drive the growth of the market.
The growing incidence of idiopathic pulmonary fibrosis, pulmonary fibrosis, interstitial pneumonitis, occupational sarcoidosis and pulmonary haemorrhage are the other factors expected to fuel the growth the bronchoscopes market.
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Product Development and Technological Advancements
It is observed that bronchoscopes have undergone a tremendous shift from conventional invasive procedures to minimally invasive and advanced devices. Advancement and development of bronchoscopes such as White-light bronchoscopy, Autofluorescence (blue-light) bronchoscopy, Navigational bronchoscopy and others are expected to be the key factors driving the growth of the global bronchoscopes market.
The competition section of the report features profiles of key players operating in the bronchoscopes market based on their market shares, differential strategies, product offerings, marketing approach and company dashboard. Examples of some of the key players operating in the bronchoscopes market are Olympus Corporation, PENTAX Medical, and KARL STORZ.
A bronchoscope in an endoscopic device used for visualization inside the airways for various therapeutic and diagnostic purposes. Visualization is enabled as the bronchoscope is inserted into the airways, usually through the nose or mouth. Bronchoscopes can be rigid or made of flexible fiber optic cable. The device has a camera and a light source on the end.
About the Report
The company conducted a research study on bronchoscopes market for the forecast period 2018 to 2022 to offer a comprehensive evaluation of the business opportunities prevailing in the bronchoscopes market. It also includes insights on the bronchoscopes trend, disease incidences, and awareness level for market competition. The report elaborates the macroeconomic factors influencing the dynamics of the bronchoscopes market while a detailed competitive benchmarking helps in analysis of the market’s futuristic potential.
Additional Questions Answered
Some of the additional questions addressed in this report on bronchoscopes market-
- What is the revenue potential of the bronchoscopes market across regions of North America and Europe?
- Who are the key competitors and what are their portfolios in bronchoscopes market?
- What are major challenges influencing the growth of bronchoscopes market?
- How intervention from regulatory authority is shaping the bronchoscopes market growth?
The bronchoscopes market has been estimated based on supply-demand approach. The market was first calculated based on install base conducted in different region/countries. Other qualitative factors are analyzed during the estimation include replacement rates for bronchoscopes, and others. This information is further validated with rigorous primary research (including interviews, surveys, in-person interactions, and viewpoints of seasoned analysts) and secondary research (including verified paid sources, authentic trade journals, and resourceful databases).
The research study on bronchoscopes market also includes top trends and macro as well as micro economic factors shaping the bronchoscopes market. With this approach, the report on bronchoscopes market anticipates the industry attractiveness of every major segment in bronchoscopes over the forecast period.
The report offers a comprehensive taxonomy of the bronchoscopes market based on product type, modality, end users and region. The product type segment of the bronchoscopes market includes video and non-video bronchoscopes. The modality segment of the bronchoscopes market includes rigid, flexible and mobile. The end users include hospitals, and outpatient centers.
The bronchoscopes market has been analyzed across regions of North America, Latin America, Europe, Asia Pacific and Middle East and Africa.