Global Bronchoscopes Market to Surpass USD 27 Billion by 2026 due to Rising Incidences of Respiratory Diseases
Posted on 21 Feb 2022
The global bronchoscopes market is projected to grow at a CAGR of 7.48% from USD 17.89 billion in 2020 to USD 27.48 billion by 2026, driven by the rising prevalence of various respiratory diseases such as tuberculosis, growing prevalence of lung cancers, increasing cases of chronic obstructive pulmonary diseases, and increasing product development activities in the bronchoscopes arena.
These are the latest findings of DelveInsight (New Delhi, India), a market research firm.
A bronchoscope is a device that is used in the visualization of the internal anatomy of the lungs. It's usually performed by a doctor who specializes in lung disorders (a pulmonologist). Bronchoscopy is a procedure where a thin tube is passed through the nose or mouth, down the throat, and then into the lungs.
The bronchoscopes market is witnessing positive growth owing to the rising prevalence of various respiratory diseases such as COVID-19 and lung cancers, increasing pneumonia cases in children, and increasing product development activities with respect to bronchoscopes, among others. Furthermore, high disposable income, sophisticated healthcare infrastructure, and increased awareness regarding disease progression and new treatments are also expected to aid the growth of the bronchoscopes market.
In addition to that, technological advancements in the field of bronchoscopies such as the development of new bronchoscopic techniques such as autofluorescence bronchoscopy (AFB) and high magnification broncho-videos copy (HMB), among others with the aim to enhance the yield and diagnostic accuracy are also expected to fuel market growth.
Moreover, the impact of the COVID-19 pandemic on the bronchoscopes market was neutral. Many major organizations across the world issued guidelines regarding the conducting of bronchoscopy in patients with respiratory illnesses. Bronchoscopy was contraindicated in patients with a positive COVID-19 test result due to the generation of aerosols during bronchoscopy which can put other patients and healthcare workers at risk. However, bronchoscopy was deemed an essential procedure in the event of complications such as atelectasis or hemoptysis, issues with mechanical ventilation, and to rule out complications associated with COVID-19.
Geographically, North America currently holds the largest share of the global bronchoscopes market and is expected to maintain its dominant position due to the rising prevalence of chronic obstructive pulmonary diseases and various cancers, including lung cancers, increased government initiatives, and more product launches in the region.
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