Bronchial Biopsy Devices Market to Grow with a CAGR of 6.89% through 2028
The role of bronchial biopsy devices in early
diagnosis and expanding application areas is expected to drive the Global Bronchial
Biopsy Devices Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Bronchial
Biopsy Devices Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Bronchial Biopsy Devices Market
stood at USD 533.45 million in 2022 and is anticipated to grow with a CAGR of
6.89% in the forecast period, 2024-2028. This can be attributed to increased
investment in healthcare infrastructure. Governments and private healthcare
organizations are investing heavily in healthcare infrastructure and
facilities. This investment includes the purchase of modern bronchial biopsy
devices to enhance diagnostic capabilities. These infrastructure improvements
create a conducive environment for the growth of the market.
Furthermore, advancements in bronchial biopsy devices
are making procedures less invasive, which benefits both patients and
healthcare providers. Smaller, more precise instruments and techniques reduce
patient discomfort and recovery times. The trend towards minimally invasive
procedures will continue to gain traction.
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On the flip side, in economically sensitive nations
like India, there is a preference for reusable devices. Furthermore, the
adoption of modern diagnostic methods such as Endobronchial Ultrasound-Guided
Transbronchial Needle Aspiration (EBUS-TBNA) still requires enhancement in
India. According to a 2019 article titled "Endobronchial Ultrasound-Guided
Transbronchial Needle Aspiration: Techniques and Challenges," only 27% of
surveyed respiratory physicians in India performed EBUS-TBNA, while 74% opted
for conventional TBNA. Despite the cost-effectiveness and safety advantages
offered by EBUS-TBNA compared to invasive surgical procedures, it still incurs
substantial expenses.
The COVID-19 pandemic had a limited adverse impact on
the market, as companies like Olympus Corporation, Boston Scientific, and
CONMED reported increased sales volumes in late 2020. This growth was propelled
by the resumption of postponed and elective procedures and the relaxation of
restrictions, particularly in countries such as the United States. For example,
Olympus Corporation noted a revenue recovery in the second half of 2020, with a
significant reduction in year-on-year revenue decline. The introduction of the
ViziShot 2 25 G EBUS-TBNA Needle for lung cancer staging and diagnosis in July
2020 is expected to further bolster the company's revenue recovery.
Moreover, the Percepta Bronchial Genomic Classifier,
which has been embraced by some institutions in developed economies like the
United States, assesses cytological samples from non-diagnostic biopsies of
smokers to determine their lung cancer risk level and guide subsequent
screening. This technology has the potential to reduce the need for follow-up
biopsies, as low-risk patients can opt for CT monitoring instead of invasive
and expensive procedures. Although this may limit the utilization of bronchial
biopsy devices, it provides a less invasive alternative. In August 2020,
Veracyte presented new data at the American Thoracic Society conference,
showcasing the classifier's effectiveness in classifying patients with
inconclusive bronchoscopy results as high or low risk for lung cancer.
The Global Bronchial Biopsy Devices Market is
segmented into product, regional distribution, and company.
Based on its product, the TBNA needles segment held
the highest market share in terms of revenue. This growth in the TBNA needles
segment can be attributed to the advantages of EBUS-TBNA over traditional TBNA
and other biopsy techniques like mediastinoscopy. The increasing preference for
EBUS-TBNA, which offers greater accuracy, is driving demand in the market.
However, it's important to note that EBUS-TBNA needles are more costly compared
to traditional TBNA needles. Nevertheless, the adoption of EBUS-TBNA in
developed regions like North America and Europe is expected to boost revenue
for competitive market players and contribute to the overall expansion of the
market. The endorsement of EBUS-TBNA as an initial step in the mediastinal
staging of lung cancer, along with technical guidelines, by the American
College of Chest Physicians has supported the adoption of this method since
2015, leading to a growing preference for EBUS-TBNA over conventional methods
in the United States. Furthermore, in 2022, EBUS-TBNA accounted for the
majority of revenue in the U.S. market, surpassing the revenue share of the
Conventional TBNA sub-segment.
Regarding the biopsy forceps product segment, it is
categorized into disposable and reusable sub-segments. The disposable
sub-segment is expected to take the lead in the market and demonstrate the
fastest CAGR during the forecast period.
Based on region, North America emerged as the dominant
player in the market in 2022, primarily due to its well-developed healthcare
infrastructure, substantial investment in research and development (R&D),
and access to cutting-edge technologies. The region's prominence is expected to
be further bolstered by a surge in product launches and the positive clinical
outcomes associated with these new offerings. For instance, in October 2021,
Intuitive Surgical released post-market data for its Ion endoluminal system,
which showcased promising diagnostic performance. These favorable results,
encompassing diagnostic accuracy for both smaller and larger nodules, a strong
safety record, and malignancy sensitivity ranging from 84% to 88%, are
projected to boost physician preference and foster product adoption over the
forecast period.
Meanwhile, in the forecasted period, Asia Pacific is
anticipated to experience the highest CAGR. This growth can be attributed to
factors such as the aging population and the increasing prevalence of
respiratory diseases in the region. Additionally, the adoption of advanced
technological products is expected to be a contributing factor to regional
expansion.
Major companies operating in Global Bronchial
Biopsy Devices Market are:
- OLYMPUS CORPORATION
- Boston Scientific Corporation
- Cook Medical Inc
- CONMED Corporation
- Medtronic PLC
- Hobbs Medical Inc
- Telemed Systems Inc
- Becton Dickinson & Co Ltd
- Argon Medical Devices Inc
- Horizons Holdings International Corp
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“The global bronchial biopsy devices market is poised
for a transformative period as it embraces the latest technological
advancements, prioritizes patient-centric care, and accommodates the rise of AI
and telemedicine. These trends are not only expected to improve the accuracy
and safety of bronchial biopsy procedures but also contribute to the ongoing
fight against respiratory diseases. By embracing these trends and continuously
evolving to meet the demands of a changing healthcare landscape, the bronchial
biopsy devices market is set to play a pivotal role in reshaping the future of
respiratory healthcare,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Bronchial Biopsy Devices Market By Product
(Biopsy Forceps (Durability, Disposable, Reusable), Transbronchial Needle
Aspiration (TBNA) Needles (Conventional, EBUS-TBNA), Cytology Brushes), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Bronchial Biopsy Devices Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Bronchial Biopsy Devices Market.
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