Bronchoscopy Market

Boston Scientific Corporation (US), Olympus Corporation (Japan) and KARL STORZ (Germany) are Leading Players in the Bronchoscopy Market

The global bronchoscopy market is projected to reach USD 3.7 billion by 2027 from USD 2.5 billion in 2022, at a CAGR of 7.9% during the forecasted period (2022 to 2027). Bronchoscopy is an endoscopic technique used to visualize and examine the inside of the trachea, bronchi (air passages that lead to the lungs), and lungs. A bronchoscope is a thin, tube-like instrument with a light and a lens for viewing. Market growth is largely driven by the rising prevalence of respiratory diseases, the growing demand for minimally invasive surgeries, growing hospital investments in bronchoscopy facilities, and technological advancements in bronchoscopes. On the other hand, the dearth of trained physicians and pulmonologists is a major challenge to the growth of this market.

The bronchoscopy equipment market is highly competitive in nature, with only a few players dominating the overall market. The major players operating in this market are Olympus Corporation (Japan), KARL STORZ (Germany), Ambu A/S (Denmark), Boston Scientific Corporation (US), Ethicon (US), FUJIFILM Holdings Corporation (Japan), Medtronic (Ireland), HOYA Corporation (Japan), Richard Wolf GmbH (Germany), Cook Medical (US), Broncus Medical Inc. (China), CONMED (US), Roper Technologies (US), Teleflex Incorporated (US), Laborie Medical Technologies Corp. (Canada), EFER Endoscopy (France), EMOS Technology GmbH (Germany), VBM Medizintechnik GmbH (Germany), Hunan Vathin Medical Instrument Co., Ltd. (China), and Machida Endoscope Co., Ltd. (China).

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BOSTON SCIENTIFIC CORPORATION (US)

Boston Scientific Corporation is a leading player in the bronchoscopy market. The company develops, manufactures, and markets medical devices for a range of interventional medical specialties (including interventional radiology, interventional cardiology, peripheral interventions, cardiac surgery, vascular surgery, endoscopy, oncology, urology, and gynecology). The company’s operating expenses comprise selling and marketing, general and administrative, and research and development expenses. In 2021, the company’s revenue was USD 11.8 billion, up from USD 9.91 billion in 2021. The company mainly focuses on maintaining or achieving technological leadership in its operating markets to help ensure that the patients using its devices receive advanced and effective treatments. In 2021, Lumenis entered into a definitive agreement to sell the Lumenis Surgical Business to Boston Scientific. The acquisition of Lumenis Surgical represents a major milestone for the Lumenis team and will enable Boston Scientific to enhance the execution of its urology strategy. Moreover, in 2022, Synergy Innovation, a manufacturer and distributor of medical devices for endoscopic and urologic procedures, and M.I.Tech Co., Ltd. entered into a final agreement with Boston Scientific Corporation to buy its majority stake (about 64%).

OLYMPUS CORPORATION (JAPAN)

Olympus Corporation held the second position in the bronchoscopy equipment market. The Medical Business segment, which provides bronchoscopy products, is the major source of revenue growth for Olympus. The company aims to strengthen its R&D, manufacturing, quality, and regulatory assurance functions and also conducts efficient investments in this business segment to increase its growth potential and profitability. The company invested 10% of its total revenue in R&D in 2021. The company invests a significant amount of its revenue in research and development to launch technologically advanced products in the market. Olympus’ Therapeutic Solutions Business revenue increased from USD 2.16 billion in 2020 to USD 2.65 billion in 2021. The company also focuses on organic and inorganic growth strategies to maintain its position in the market and expand its global presence.

KARL STORZ (GERMANY)

KARL STORZ held the third position in the bronchoscopy market. It has eight production sites globally and has service centers in Germany, Switzerland, the US, and India. Its products are marketed through a network of more than 50 subsidiaries in 40 countries and distribution agents across Europe, the Americas, Africa, and the Asia Pacific. The company is engaged in the production and sales of endoscopes, medical instruments, and devices used for medical, surgical, dental, and veterinary purposes. The company also provides industrial endoscopes for non-destructive testing, including videoscopes, borescopes, cameras, and documentation systems. The company has a wide product range for several categories, including neurosurgery, oral and maxillofacial surgery, plastic surgery, anesthesia and emergency medicine, cardiovascular surgery, thoracic surgery, and gastroenterology. The company offers rigid and flexible bronchoscopes for adults and pediatric use. KARL STORZ also offers essential accessories for bronchoscopy.

Related Reports:

Bronchoscopy Market by Product Bronchoscopes (Flexible, Rigid, EBUS), Imaging Systems (Video Processors), Accessories (Cytology Brushes), Application (Bronchial Treatment), Usability (Reusable), & End Users (Hospital, ACSs/Clinic) - Global Forecast to 2027

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Bronchoscopy Market Size,  Share & Growth Report
Report Code
MD 7495
RI Published ON
9/9/2022
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