Global Pulmonary Endoscopy Devices Market 2017-2021

Overview of the global pulmonary endoscopy devices market

According to the Technavio’s analyst, the global pulmonary endoscopy devices market is anticipated to grow at a steady rate and will post a CAGR of more than 4% during the forecast period. The growing popularity of minimally invasive procedures will drive the growth prospects for the global pulmonary endoscopy devices market for the next four years. The market is witnessing a huge shift from the conventional open surgeries towards minimally invasive surgeries using pulmonary endoscopy devices because the traditional methods involve various post-operation complications such as pain, blood clots, fatigue, muscle atrophy, infections, sore throat, nausea, and sleepiness. On the other hand, some of the major benefits associated with minimally invasive surgeries such as reduced cost and hospital stay, lower risks of post-operation infections, rapid results, and faster recovery period also fuels the adoption of pulmonary endoscopy devices in various medical facilities. Furthermore, the increasing effort of vendors on providing training for surgeons to perform endoscopic surgeries using these devices will further accelerate the acceptance of pulmonary endoscopy devices. Moreover, these devices are also used for treating people who are under critical conditions and cannot be operated using conventional open surgeries.

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The growing shift towards the use of disposable endoscopy devices in developed countries will drive the growth prospects for the global pulmonary endoscopy devices market during the forecasted period. Some of the major factors responsible for the growing preference for disposable endoscope devices is to reduce life-threatening infections, lower maintenance costs, eliminate the need for product sterilization, and reduce the probability of cross-contamination in hospital settings.

Competitive landscape and key vendors

The global pulmonary endoscopy devices market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. The vendors in the endoscopy instruments market increasingly compete against each other based on factors such as the aggressive pricing, capital support for product or technology up gradation, product differentiation, and distribution partnerships. Furthermore, according to the industry research report, the competitive environment in the market will be strengthened due to new product launches and advancements in technology.

Key vendors in this market are -

• Boston Scientific
• Broncus
• Medtronic
• Karl Storz
• OLYMPUS

Other prominent vendors in the market include Applied Medical, asap endoscopic products, Conmed, Endocure Technologies, EndoLook, FUJIFILM, Hobbs Medical, Maxerendoscopy, PENTAX Medical, RICHARD WOLF, STERIS, Stryker, and Vimex.

Segmentation by product type and analysis of the pulmonary endoscopy devices market

• Bronchoscopes
• Instruments and accessories
• Services

The pulmonary endoscopy instruments and accessories segment accounted for the majority market share during 2016 and will continue to dominate the endoscopy instruments market for the next four years. One of the major factors responsible for the increasing demand for small and therapy instruments and surgical devices and accessories is the growing popularity of minimally invasive surgeries.

Segmentation by geography and analysis of the pulmonary endoscopy devices market

• Americas
• APAC
• EMEA

In terms of geography, the Americas accounted for the majority market share during 2016 and will continue to dominate the endoscopy instruments market until the end of 2021. Some of the major factors responsible for the market’s growth in the region is the emergence of electromagnetic navigation and combination of ultrasound-guided fine needle aspiration in endoscope devices.