Bronchoscope market

bronchoscope Market According to a new report published by Reports Monitor titled, “THE GLOBAL BRONCHOSCOPY MARKET, GROWTH OPPORTUNITIES AND FORECAST TILL 2025� the global CRM software market was valued at XX million in 2017, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025 The growing prevalence of breathing related disorders has boost the demand for bronchoscopy. According to World Health Organization (WHO), more than three million people die every year of chronic pulmonary obstructive disease (COPD) also nearly there are 235 million patients of asthma globally. Bronchoscope is used to examine any kind of irregularity in the normal functioning of respiratory system. Bronchoscopes are used to visualize the insides of patient air passage. Bronchoscopes are usually inserted through nose or mouth, and rarely via trachea. In recent times, there has been development in technology of bronchoscopes. A variety of bronchoscopes have developed. Flexible bronchoscopes have been introduced to diagnose the diseases in trachea and the bronchi. Due to their different advantages, they are widely accepted throughout various countries and regions. Bronchial stent, bronchial forceps and trans-bronchial aspiration needles are some of the most commonly used bronchoscope devices.

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The major driver of bronchoscope market is the increase in the number of patients with respiratory disorders. Bronchoscope is also used for patients suffering from ear problem.

Increasing air pollution and unhealthy habits such cigarette smoking is also adding to patient pool. Apart from these the increasing demand for sophisticated medical tools s also fueling the market. However, lack of medical professionals and concern for infection may hamper the growth of the market. Moreover, increasing geriatric population and raising expenditure in healthcare are reasons for market to grow swiftly.

The market of bronchoscope is segmented on the basis of type, application, end use and region.

On the basis of type the market is segmented into rigid bronchoscopes, and flexible bronchoscopes. Flexible bronchoscopes are further sub-segmented into fiber optic bronchoscopes, and video bronchoscopes.

Based on application the market is classified into diagnosis, and surgical procedure.

Diagnosis is further segmented into examination, patient’s airways, bleeding lungs, possibility of lung cancer, chronic cough, and obtain tissue specimen for biopsy. Surgical procedure is further sub segmented into removal of a foreign object in the air passage, laser resection of tumors, lung abscess, stent insertion, percutaneous tracheostomy, and tracheal intubation.

On the basis of end use it is divided in hospitals/clinics, diagnostic center and others.

The global bronchoscope market is segmented geographically in North America, Europe, Asia Pacific and Latin America, Middle East & Africa.

North America holds the largest share of market owing to its early adoption of advanced technology and high expenditure on healthcare sector. The patient population of this region is also huge. According to NCHS, 124,800 people died due to lower respiratory disease.

Europe is the second largest market after America. The bronchoscope market of Europe is huge as most of the key player belongs to the region. Apart from this, favorable government policies and expenditure in research and development has also supported the growth of the market. According to the WHO, Global Status Report on NCDs 2010, smoking is estimated to cause about 71% of all lung cancer deaths and 42% of chronic respiratory disease worldwide. Of the six WHO regions, the highest overall prevalence for smoking in 2008 was estimated to be the in the European Region, at nearly 29%.

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Asia pacific region is also having a swift growth of the market as the awareness about the technology and treatment is increasing. Also the patient pool is very high in the region. India has more than 30 million asthma patients. Additionally, many of the world’s most polluted cities are in this region. Pollution leads to allergy.

LAMEA region has the least market share especially in Africa region. The healthcare sector of the region is not developed. According to WHO, 36% of people diagnosed with respiratory infection dies from it in middle east. However, the market in Middle east is growing as they are adopting new technologies in healthcare.

Key players: Boston Scientific Corporation (US), Cogentix Medical (US), Fujifilm Holdings Corporation (Japan), Olympus Corporation (Japan), Schindler Endoskopie Technologie Gmbh (Germany), Schรถlly Fiberoptic Gmbh (Germany), Vimex Sp. (Poland), Hangzhou EndoTop Medi-Tech Co., Ltd.(China), Guangzhou MeCan Medical Limited (China), and LocaMed (UK) are some of the key players of the market.