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The demand for simple and new ways to diagnose and monitor COPD early, distinguishing it from other respiratory diseases and tracking its progression, has increased. The use of information technology (IT) in healthcare has improved how diseases are managed. Video technology, introduced for better diagnosis and treatment, has become popular due to rising healthcare spending and the need for improved diagnostic methods over the past decade.
Global healthcare spending has consistently risen, with increases in the Americas and Europe over the last ten years. In 2015, the U.S. saw a 5.8% increase in healthcare spending, reaching USD 3.2 trillion. In North America, Canadian healthcare faced challenges due to demographic changes and increased insurance coverage from the Affordable Care Act in the U.S. In 2016, healthcare spending in the U.K. and Germany also grew slightly. Western Europe, dealing with slow financial growth and economic pressure, has aimed to save money on healthcare. According to the Organization for Economic Co-operation and Development (OECD), Germany spent EUR 321 billion on healthcare in 2014, France spent EUR 237 billion, and the U.K. spent EUR 223 billion.
The trend of rising healthcare expenditures has been noticeable in recent years, particularly in regions like the U.S., where the Centers for Medicare & Medicaid Services reported a significant increase in spending. This upward trajectory was influenced by factors such as the implementation of the Affordable Care Act in 2010, leading to expanded insurance coverage and subsequent growth in healthcare spending.
Furthermore, in 2016, healthcare organizations in the U.S. experienced relief from a specific tax on medical devices, as outlined in the Medical Device Excise Tax Act of 2013. These changes in financial dynamics and policy contributed to the evolving landscape of healthcare spending in the country.
In Canada, demographic shifts posed challenges to the healthcare system, while in Western Europe, including the U.K. and Germany, there was a subtle increase in healthcare spending. However, economic pressures and efforts to trim healthcare costs persisted, as reported by the Organization for Economic Co-operation and Development (OECD). Germany, with healthcare expenditures reaching EUR 321 billion in 2014, emerged as a significant contributor to the healthcare spending landscape, followed closely by France (EUR 237 billion) and the U.K. (EUR 223 billion).
The continuous rise in healthcare spending globally underscores the need for efficient and cost-effective healthcare solutions. As technology, such as video diagnostic tools, becomes more prevalent, there is a growing emphasis on leveraging innovation to address the evolving healthcare landscape and provide improved diagnostic and treatment options.
Bronchoscopes Market Highlights:
Bronchoscopes Market Overview
Bronchoscopes Market Size was valued at USD 2.7 Billion in 2023. The Global Bronchoscopes industry is projected to grow from USD 2.9 Billion in 2024 to USD 4.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.90% during the forecast period (2024 - 2032). It is a method for diagnosing the abnormalities in the breathing system function. Bronchoscopes have been adopted by various regions and countries where it has become an important part of the medical unit.
Bronchoscopes are the devices that are to be inserted into the patient’s body i. E into the nose, mouth, and within the trachea thus visualizing the inside body of the patient’s body. An advanced bronchoscope is introduced for diagnosing the disease of the trachea and bronchi. The important factors that help in driving the market of bronchoscopes are the rise in prevalence of respiratory tract disorders for detection of lung cancer, COPD, rise in bronchoscopy procedures and rise in the number of medical organizations.
Ambu Inc. announced in July 2022 that the United States Food and Drug Administration (FDA) has given its consent for Ambu aScopeTM 5 Broncho, a range of sterile single-use bronchoscopes.
In May 2022, Olympus was granted a group purchasing agreement with Premier, Inc. under the Single-Use Visualization Devices category for their single-use bronchoscope portfolio.The Olympus single-use bronchoscope portfolio included five premium H-SteriScopessingle-use bronchoscopes that are used as an adjunct to Olympus' leading re-usable bronchoscope portfolio.
In September 2021, Ambu A/S unveiled the European regulatory clearance for their combined product Ambu® aScope™ 4 Broncho Sampler Set, which is a combination of a Single-Use Bronchoscope and Specimen Sampling System intended to carry out Bronchial Wash (BL) and Bronchoalveolar Lavage (BAL) procedures together with improved workflow, safety and high efficiency.
Similarly, Boston Scientific Corporation received U.S. FDA 510(k) clearance in August 2021 for the EXALT Model B Single-Use Bronchoscope designed specifically for bedside procedures in the intensive care unit (ICU) and operating room.
April 2021 saw Richard Wolf GmbH open its subsidiary in Madrid, Spain, known as Richard Wold Endoscopia Ibérica S.L. This was part of their plan to be a global player.
Hoya Corporation also announced about technical collaboration with Hitachi in May 2021 as part of the five-year contract where they would extend their endoscopic units. Moreover, diagnostic ultrasound systems and sensors will be supplied under this partnership.
Also, in May 2021, PENTAX Medical Europe achieved CE mark accreditation for its new single-use bronchoscope -the PENTAX Medical ONE Pulmo. This revolutionized product offers excellent care without sacrificing lung health. The PENTAX Medical ONE Pulmo is a single-use bronchoscope that has better suction and high-definition image quality.
Olympus Corporation acquired Veran Medical Technologies, Inc. in December 2020. This leading advanced medical devices provider specializes in interventional pulmonology, and the acquisition helped Olympus expand its pulmonary portfolio.
In May 2020, Fujifilm Holdings Corporation announced a number of global milestones and developments toward strengthening their endoscopy and endoscopic health business, including the addition of artificial intelligence, high-tech image acquisition and sophisticated data analysis.
COVID 19 ANALYSIS
It has been marked that before COVID and the improvement lockdown and shutdown, the market of bronchoscopes was attaining a top position and was expanding to a high level. Due to the strict regulations put forward by the government and the lockdowns and shutdowns of industries and manufacturers suffered from various hardships like the absence of any manufacturing parts, supply, man force, and many others.
Due to the outbreak of the pandemic, the rise in the aging population and the patient’s inflow was more in medical device and clinics which gradually increased the demand for bronchoscopes and raised the bronchoscopes market size. Globally and regionally, all the bronchoscopes industries have taken all the required steps for raising their production and also the supply, which increases the demand for various other products, making it cost-effective to return to its past growth.
Bronchoscopes Market DYNAMICS
- Drivers- in the year 2015, WHO detected that about 64 million people are suffering from COPD(Chronic Obstructive Pulmonary Disease) and about 3 million have died due to COPD and a further 1.8million of the population are suffering from lung cancer. The rise in respiratory disorders and the improvement of various policies of the government and the growth in the aging population are the main market drivers of the market. The rise in giving priority to using invasive procedures and the increase in the number of unique procedures are the important factors promoting the expansion of bronchoscopes market size. Along with it some of the other factors like no cross-contamination, least costs while reprocessing, and increase in availability helps in the market expansion of bronchoscopes.
- Opportunities- reusing the bronchoscope devices improves the bronchoscopes market share. The flexible bronchoscope is used for multi-usage and cost-effectiveness which are very much useful in clinics and hospitals. This helps in the widespread development of the industry. The single-use bronchoscope is much more effective and is safe for tools to give protection from pathogens, viruses, and bacteria which even cause death in many humans. These are helpful for the detection of diseases like tumors, COPD, cancer of the lungs, and many more. These bronchoscope devices help in the reduction of infection.
- Challenges- bronchoscopes causing various disorders and infection is a main challenging factor for the bronchoscopes industry which hampers the bronchoscopes market trends. The rise in cost coupled with the bronchoscopes and the product recalls is another challenging factor for covering the market share of bronchoscopes thus hampering the growth of the industry.
- Cumulative growth- urbanization, rise in investment made by the government. An increase in several healthcare sectors acts as a growth-promoting factor for the industry.
- Restraints- high expenses of the bronchoscopes and the prevalence of the high risk of infection, helps in hindering up the bronchoscopes market share. Flexible devices of bronchoscopes are of high cost because they are insignificantly used for improving their efficiency and their versatility.
Bronchoscopes Market SEGMENTATION
By type- based on the segmentation type, it has been marked that the market of bronchoscopes is divided into type, use, application, and end-users. Based on the type, the bronchoscopes are classified into flexible and rigid and EBUD bronchoscopes. Based on application, the market of bronchoscopes is segmented into diagnosis and surgical procedures. Based on end-users the industry is differentiated into hospitals, clinics, and medicals. Based on region, the market of bronchoscopes is divided into North America, Europe, Asia-Pacific, and many more. as per the type, the market of bronchoscopes is divided into flexible bronchoscopes and rigid bronchoscopes. A flexible bronchoscope helps in diagnosing the disease in the trachea and bronchi as well. This division is further subdivided into fiber optic bronchoscopes and video bronchoscopes. As per the application, it has been found that the diagnosis market is divided into examination, the bleeding lungs, chronic cough if lung cancer is present, the airways of a patient, and obtaining tissue specimens for biopsy.
The surgical procedure is categorized into the removal of a foreign substance present in the airway and lase resection of tumors and many more. Based on end-users, it has been found that the market is classified into hospitals and clinics, diagnostic centers, and many more. Hospitals and clinics hold the largest market CAGR of 49.1%. It has been found that the diagnosis holds the most dominant share of 885.7 million and its projects are at USD 1484.2 million till the forecast period of 2023.
According to tot he uses, the bronchoscope industry is classified based on usability by the reusable bronchoscopes and disposable bronchoscope, from all these, the reusable bronchoscope covers a large market share in 2019 for having high quality for imaging. Likewise, the disposable bronchoscope grows at the highest rate and covers a large space.By technology- technology led to the discovery of introducing autofluorescence imaging and imaging of narrowband having some of its additional characteristics. The flexible bronchoscope devices are in high demand in various emerging regions and some of the developing countries which give appropriate results and can diagnose diseases in both trachea and bronchi. Technology also led to the discovery of rigid bronchoscope devices and EBUS bronchoscopes which gave appropriate results.
November 2022: With the release of the EB-710P, a new compact video bronchoscope, Fujifilm India has bolstered its selection of pulmonology solutions. The EB-710P is a lightweight endoscope with a CMOS sensor that is very small for its class. Because of this innovation, the tip is just 4.1 mm in diameter, making it possible to reach further into the lung than with a more traditional approach. In addition, the endoscope may be rotated back to its original position before being withdrawn securely. In addition, the rotation function's teardrop-shaped dial and ergonomic grip allow for easy use. The EB-710P endoscope system is designed to make bronchoscopies safer and more tolerable for patients by virtue of its exceptionally tiny diameter and rotating capability.
March 2023: Chinese University of Hong Kong (CUHK) thoracic surgeons pioneered the use of robotic-assisted bronchoscopic microwave ablation (RBMA) to treat lung metastases in a way that spares healthy lung tissue. The primary therapy for lung metastases is surgical resection, which has the risks of traumatic surgical access and the loss of healthy lung tissue. This unique treatment allows physicians to precisely reach peripheral parts of the lung and execute non-invasive lung sparing microwave ablation of lung metastases, building on the thoracic surgical team's track record of innovation in advanced minimally invasive procedures employing cutting-edge technology. The clinical experiment is now recruiting up to 145 participants from all across the world.
REGIONAL ANALYSIS
Globally and regionally, the presence of high population and spending a huge sum on healthcare and well-developed healthcare sector. In the North American industry, it has been found that more of the investment is made in the healthcare centers whereas it got more support from the government research and its policies. North America is expected to cover a large area of market share during the market forecast period. The United States conducts 500,000 procedures each year. This helps in steering up the bronchoscopes market size. The European market of bronchoscopes holds the second largest market share as it has developed healthcare units. Along with this, the people here are spending too much on respiratory diseases and medicals and clinics. Due to the rise of awareness about the availability of treatment, the increase in several narrow people here, high patient inflow, and the innumerous rise in healthcare expenditure. The Middle East and African regions contribute to certain limited growth.
RECENT DEVELOPMENTS
- Olympus discovered two unique and new endoscopes which are used for periphery and as small anatomy bronchoscopy. They are named BF-190 and BF-XP 190.
- The flexible endoscope was found to be so much developed. Here in this endoscope, it was found that the video clips help in the transmission of video visuals which helps in monitoring through the scope or wirelessly. This reduces the width of the endoscope.
COMPETITIVE LANDSCAPE
Of all the key players, Olympus was found to be the most dominant bronchoscopes market player as it has used the advanced developments so made and has attained a successful position. These key players used all the latest technology so made and either merged, did partnership or made collaboration with other key players.
REPORT OVERVIEW
The report highlights the transformation of the bronchoscopes market scenario. It gives a good analysis of COVID 19 and also gives information about the bronchoscopes market dynamics and the factors that helped in market driving of bronchoscopes. It also summarises the challenging factors, restraining factors, narrow and the points that promoted cumulative growth in the bronchoscopes industry. It gives information about the innovation made due to the advancement of technology, it gives a good review about the key players operating in the market and the strategies put forward by them to bring growth in the bronchoscopes business sector. It gives information about the recent developments so made and the multiple applications so operated in the bronchoscopes industry.
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