Market Trends of Bronchoscope Industry
Single Use Bronchoscope Segment is Expected to Witness High Growth Over the Forecast Period
Anesthetists use the single-use flexible bronchoscope in an ICU or peri-operative setting where they perform to an acceptable level compared to reusable, flexible bronchoscopes combined with the distinct advantage of a reduced risk of infection owing to their sterility. Single-use flexible bronchoscopes eliminate cross-contamination from reusable bronchoscopes and are cost-effective in several clinical settings. These are helpful for the detection of diseases like tumors, COPD, cancer of the lungs, and many more. For instance, according to the study published by the National Library of Medicine, in January 2022, in certain circumstances in the bronchoscopy and intensive care units, using a single-use bronchoscope over a reusable bronchoscope confers an advantage due to its portability, immediate availability, and theoretically lower risk of clinically relevant infections. Furthermore, according to an article published by the National Library of Medicine, in January 2022, a single-use flexible bronchoscope is cost-effective when solely looking at cross-contamination and possible subsequent infections with bronchoscopes in a typical ICU setting compared with reusable flexible bronchoscope. Thus, the above benefits of a single-use bronchoscope over the reusable bronchoscope are expected to boost segment growth.
Furthermore, the technological product advancements by significant market players are expected to boost segment growth. For instance, in August 2021, Boston Scientific Corporation received U.S. FDA 510(k) clearance for the EXALT Model B Single-Use Bronchoscope, designed for use in bedside procedures within the intensive care unit (ICU) and operating room. Such advancement is expected to drive the market's growth over the forecast period. Thus, all factors above are expected to boost segment growth over the forecast period.
North America is Expected to Dominate the Bronchoscope Market Over the Forecast Period
North America is expected to hold a significant market share in the bronchoscope market due to the increasing number of bronchoscopy procedures and higher prevalence rates of respiratory diseases such as COPD, pneumonia, and lung cancer. For instance, according to the NCBI report of June 2021, around 500 thousand procedures of bronchoscopies are performed in the United States every year. Furthermore, as per ACS, the estimated number of lung cancer expected to be diagnosed in the United States in 2022 is about 236,740 new cases. Similarly, according to the Canadian Cancer Society, about 30,0000 new lung cancer cases will be recorded in Canada in 2022. This indicates the burden of lung cancer in the region, which results in the market's growth as there is a high demand for bronchoscopes in North America. Hence, it is expected to boost the bronchoscope market growth.
New product launches will also favor the overall segment growth over the forecast period. For instance, in July 2021, Verathon launched the GlideScope BFlex single-use bronchoscope, which provides the accessibility of a single-use bronchoscope while delivering the images and control typically associated with a reusable bronchoscope. Such regional advancement is expected to boost market growth. Thus, owing to the abovementioned factors, the studied market in the North American region is expected to project development over the forecast period.
