Major players in the bronchoscopy market are Olympus Corporation, Karl Storz, Fujifilm Holdings Corporation, Ambu A/S, Boston Scientific, Hoya Corporation, Richard Wolf GmbH, Cook Medical, Lymol Medical, and F.
New York, July 16, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bronchoscopy Global Market Report 2020-30: Covid 19 Implications and Growth" - https://www.reportlinker.com/p05932643/?utm_source=GNW
Hoffmann-La Roche Ltd.
The global bronchoscopy market is expected to grow from $2.10 billion in 2019 to $2.56 billion in 2020 at a compound annual growth rate (CAGR) of 21.9%. The growth is mainly due to the significant growth of COVID-19 cases across the globe, which require bronchoscopy devices to check the patients affected by the coronavirus that mainly targets the lungs. The market is then expected to stabilize and reach $2.70 billion in 2023 at a CAGR of 2%.
The bronchoscopy market consists of sales of bronchoscopes and bronchoscopy services. Bronchoscopy is a technique for visualizing inside airways or lungs for therapeutic and diagnostic purposes. In bronchoscopy, an instrument is inserted into the airways through nose, mouth, or sometimes through a tracheostomy through which the practitioner can examine the patient’s airways for any infections.
North America was the largest region in the global bronchoscopy market in 2019. Asia Pacific is expected to be the fastest-growing region in the bronchoscopy market in the forecast period.
In April 2019, Johnson & Johnson acquired Auris Health Inc for a deal amount of $3.4 billion. Auris Health’s robotic platform technology is used for diagnostic and therapeutic procedures in the lungs. Johnson & Johnson is focused on building a connected, data-driven digital ecosystem that pairs one of the surgical solutions with advanced technologies to improve the patient’s experience.
The bronchoscopy market covered in this report is segmented by product into bronchoscopes; imaging systems; cytology brushes; others and by application into bronchial treatment; bronchial diagnosis.
The risk of contamination of devices has been a major challenge in the bronchoscopy market. According to the center for disease control and prevention, in the USA, there are around 6.8 lakhs hospital-acquired infection cases and 72,000 hospital-acquired infection patients die. Multiple factors including contamination of devices are the reasons for hospital-acquired infection. This can be due to improper cleaning of devices or improper maintenance of the storage rooms and other factors. The risk of contamination of devices has a negative impact on the growth of the bronchoscopy market.
The single-use flexible bronchoscopes are increasingly being used to prevent the risk of contamination of devices. The single-use flexible bronchoscopes are longer and thinner tubes that allow seeing the deep areas of bronchus and are much easier to change and have a clear image of position inside the lung bronchus. The single-use flexible bronchoscopes improve safety and productivity.
The growing prevalence of respiratory diseases contributed to the growth of the bronchoscopy market. According to the data published by the World Health Organization in 2018, 2.09 million new cases suffering from lung cancer are registered and the deaths due to lung cancer are around 1.76 million and 384 million people suffer from the chronic obstructive pulmonary disease (COPD) and 3 million die from it each year, making it the third leading cause of death worldwide. Therefore, the increasing prevalence of respiratory diseases around the world, especially the COVID 19 outbreak in 2020, will drive the bronchoscopy market.
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