Bronchoscopy Market | Rising Prevalence of Respiratory Diseases | Growing at a CAGR of 5.9%

PUNE, India, 2020-Apr-30 — /EPR Network/ —

[222 Pages Report] The Global Bronchoscopy Market is projected to reach $2.6 billion by 2024 from an estimated $2.0 billion in 2019 at a CAGR of 5.9% during the forecast period.

This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, key players, competitive landscape, key market dynamics, and key player strategies.

Secondary Research;

The secondary research process involved the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the market.

Primary Research;

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations operating in the market.

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The bronchoscopes segment dominated the bronchoscopy market in 2018.

Based on product, the bronchoscopy market is segmented into bronchoscopes, imaging systems, accessories, and other bronchoscopy equipment. The bronchoscopes segment accounted for the largest share of the bronchoscopy market in 2018. The large share of this segment can be attributed to the high cost of bronchoscopes compared to the imaging systems and accessories, increasing prevalence of lung cancer, and technological advancements.

In 2018, the adult patients segment accounted for the largest share of the bronchoscopy market.

Based on patient age, the market is segmented into adult patients and pediatric/neonate patients. The adult patients segment is estimated to grow at the highest CAGR during the forecast period. This growth can be attributed to the rising geriatric population and the high prevalence of chronic diseases in adult patients.

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The major players in the global bronchoscopy market are Olympus Corporation (Japan), KARL STORZ (Germany), Fujifilm Holdings Corporation (Japan). Other prominent players in the market include Ambu A/S (Denmark), Boston Scientific (US), Ethicon (US), and Medtronic (Ireland).

North America dominated the bronchoscopy market in 2018. The large share of North America in the global bronchoscopy market is attributed to the increase in the incidence and prevalence of chronic respiratory diseases, favorable reimbursement scenario in the US, and rising incidence of lung cancer in Canada.

The Asia Pacific market, on the other hand, is projected to register the highest growth during the forecast period.  Factors such as the increasing number of hospitals, developing healthcare infrastructure, increasing healthcare expenditure, rising geriatric population, and the presence of a large patient population are driving the growth of the bronchoscopy market in the Asia Pacific.