Bronchoscopy Market

In 2018, Olympus Corporation (Japan) was the Leading Player in the Bronchoscopy Market

The global bronchoscopy market is projected to reach USD 2.6 billion by 2024 from an estimated USD 2.0 billion in 2019 at a CAGR of 5.9%. The growth of this market is primarily 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, a dearth of trained physicians and pulmonologists is the major challenge for the growth of this market.

The bronchoscopy market is well established owing to the dominance of prominent market players. In 2018, Olympus Corporation (Japan), KARL STORZ (Germany), and FUJIFILM Holdings Corporation (Japan) were the key players operating in this market. Other prominent players in the market include Ambu A/S (Denmark), Boston Scientific (US), Ethicon (US), Medtronic (Ireland), HOYA Corporation (Japan), Richard Wolf GmbH (Germany), Cook Medical (US), CONMED Corporation (US), Roper Technologies (US), Teleflex Incorporated (US), LYMOL Medical (US), LABORIE Medical Technologies (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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Olympus Corporation (Japan) dominated the bronchoscopy market in 2018. The company offers a robust and broad portfolio of bronchoscopes, imaging systems, and accessories, which serves as an important factor for its large market share. Research and development is a major focus area for the company. Olympus R&D expenditure increased by 10.7% from 2017 to 2018. The company also focuses on organic and inorganic growth strategies in order to maintain its position in the market and expand its global presence. For instance, in 2019, the company received FDA-approval for its Spiration Valve System (SVS) for the treatment of severe emphysema. It also has a prominent presence in North America, where it registered 36.7% of its medical business segment sales in 2018.

KARL STORZ (Germany) is another major player in the bronchoscopy market. The company offers a wide range of bronchoscopy equipment, including bronchoscopes, imaging systems, and accessories. The company has a strong presence in across the globe with a network of 50 subsidiaries in over 40 countries across Europe, the Americas, Africa, and the Asia Pacific. KARL STORZ continues to make strategic acquisitions to supplement its core growth and assure the expansion of its business in terms of new technologies, products, and geographical reach. In 2016, the company opened a new subsidiary in Estonia named KARL STORZ Video Endoscopy Estonia OU. This new facility is expected to complement the company’s services, strengthen its network, and improve its relationship with customers. The company’s specialized product portfolio, strong geographic presence, and market penetration are some of the factors expected to enhance its presence in the bronchoscopy market in the coming years.

Related Reports:

Bronchoscopy Market by Product Bronchoscopes (Flexible, Rigid, EBUS), Imaging Systems (Monitor, Camera), Accessories, Working Channel Diameter (2.8, 2.2, 3.0), Usability (Reusable, Disposable), & End Users (Hospital, ACSs/Clinic) - Global Forecast to 2024

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Report Code
MD 7495
RI Published ON
1/7/2020
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