One of the major factors responsible for the rise in the demand for bronchoscopes is the rising incidence of lung cancer across the world. Since the last few years, there has been a massive rise in the global geriatric population and this has significantly boosted the prevalence of lung cancer across the globe. As per the World Health Organization (WHO), cancer was found to be the second-major cause of deaths across the globe in 2018, accounting for 9.6 million deaths, with lung cancer caused due to tobacco consumption responsible for almost 22.0% of all the lung cancer related deaths.
Browse In-depth Bronchoscope Market Revenue Forecast Report
There are various types of bronchoscopy technologies commonly adopted in healthcare settings — endobronchial ultrasound (EBUS), narrow-band imaging (NBI), electromagnetic navigation bronchoscopy (ENB), and autofluorescence bronchoscopy (AFB). Out of these, the EBUS technique is predicted to register the fastest growth in adoption for the diagnosis of various lung disorders and diseases. The major factor responsible for the rapidly increasing adoption of EBUS technology is the fact that this technology makes the disease diagnosis and cancer stage identification processes easier.
Bronchoscopes are extensively used in therapeutic and diagnostic applications. Between the two, these instruments are currently observing higher usage in diagnostic applications. This is mainly attributed to the fact that the bronchoscopes are widely used for the diagnosis of airway-related diseases. In addition to this, the rising awareness amongst the people about lung diseases and the importance of their early diagnosis and detection are further contributing toward the ballooning adoption of bronchoscopes in diagnostic applications.
The North American region observed the highest usage of bronchoscopes during the historical period (2014–2019), owing to the presence of a large number of lung cancer patients, huge geriatric population, advanced healthcare infrastructure, leading bronchoscope manufacturing companies, and high incidence of chronic respiratory diseases in the region. The bronchoscope market is expected to grow the fastest in Asia-Pacific (APAC) during the forecast period, owing to the rising prevalence of chronic respiratory diseases, soaring healthcare expenditure, and increasing awareness amongst the people regarding lung diseases and the importance of their early diagnosis, in the region.
Therefore, it can be said without any hesitation that due to the mushrooming occurrence rate of lung diseases and lung cancer, improving healthcare infrastructure, and rising adoption of advanced medical instruments, the demand for bronchoscopes will increase considerably over the next few years.
