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By the end of 2021, the global bronchoscopes market growth is projected to generate sales worth US$ 480.3 Mn, growing 1.3X over the forecast period, predicts Future Market Insights (FMI). During the projected period of 2022–2028, the market is expected to grow at a CAGR of 4.4% and reach revenues of US$647.7 Mn in 2028.
In the upcoming years, it is anticipated that the prevalence of chronic respiratory diseases, such as multiple respiratory and airway diseases, endoscopic surgeries, and the early detection and diagnosis of serious conditions like bronchopulmonary haemorrhage and chronic obstructive pulmonary diseases (COPD) will all have an additional negative impact on bronchoscope sales.
In addition to the previously mentioned factors, technological developments in the bronchoscopes market—which have seen a transition from traditional invasive procedures to minimally invasive and sophisticated devices—are a crucial factor determining the global demand for bronchoscopes and have the potential to greatly expand its range of applications.
The global need for bronchoscopes is being driven by developments such as white-light bronchoscopy, navigational bronchoscopy, and autofluorescence (blue-light) bronchoscopy, among others. Additionally, small, less invasive bronchoscopes are becoming more popular. In terms of applicability and product diversity, bronchoscope manufacturers have improved upon the initial bronchoscopes, according to a senior analyst at the company.
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Top Four Manufacturers Contribute the Largest Global Revenue
Given the rapid pace of technological progress, major expenditures are being made by leading broncoscope manufacturers in R&D projects to further improve product efficacy. The global market for broncoscopes exhibits a highly competitive environment marked by comparatively high entry barriers, distinctive and well-established products, and notably high profit margins.
Tier-1 manufacturers of bronchoscopes, including Olympus Corporation, FUJIFILM Holdings Corporation, Teleflex Incorporated, and HOYA Corporation, collectively hold a market share of approximately 62.5 percent—with Olympus Corporation contributing the largest revenue slice.
Tier-2 players such as KARL STORZ GmbH & Co KG, Ambu A/S, and Richard Wolf GmbH and tier-3 players including Rochling Group and Shanghai AoHua Photoelectricity Endoscope Co., Ltd, collectively contribute approximately 37.5 percent revenue share to the global bronchoscopes market. Key forward market strategies include:
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Key Insights Drawn from Segmentation Analysis of the Bronchoscopes Market
Bronchoscopes Market, By Category Product:
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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The post Bronchoscopes Market 2022 Growth Analysis, Demand by Regions and Opportunities with Challenges 2028 appeared first on Future Market Insights.
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