Respiratory Endotherapy Devices Market: Current Analysis and Forecast (2023-2030)
Emphasis on Devices [Diagnostic (Trans Bronchial Aspiration, Biopsy Forceps, Cytology Brushes, and Others.), and Therapeutic Devices (as bronchoscopes, bronchial thermoplasty systems, pulmonary balloon dilation catheter, stents, and others)]; End User (Hospitals, Diagnostic Centers, and Ambulatory Surgical Centers); and Region/Country
The Respiratory Endotherapy Devices market was valued at USD 1,521.38 million in 2022 and is expected to grow at a CAGR of around 6.5% from 2023-2030. A respiratory endotherapy involves the assessment of trachea, bronchi and part of the lungs and mainly used for collecting samples for clinical and anatomic pathology lab testing. It is very effective procedure in the diagnosis of tumors and infectious diseases. As the prevalence of respiratory disorders, including asthma, COPD, bronchitis, lung cancer etc. is increasing continuously, which results in a significant rise in the demand of respiratory devices, including respiratory endotherapy devices. The market for Respiratory Endotherapy Devices is mainly driven by increasing endotherapy procedures, the increasing prevalence of respiratory disorders, technological advancement in endotherapy equipment, and rising awareness about the benefits of early diagnosis. For instance, as per the US Food & Drug Administration (FDA), more than 500,000 bronchoscopy are performed every year in US.
Some of the major players operating in the market are Fujifilm Holdings Corporation, Medtronic, Johnson & Johnson, Smith & Nephew Plc., Stryker corporation, Olympus, Hoya corporation, Steris Healthcare, Conmed, and Boston corporation among others.
Insights Presented in the Report
“Amongst Devices, the Therapeutic Devices is expected to Dominate during the forecast period.”
Based on the device, the market is segmented into diagnostic devices and therapeutic devices. The therapeutic devices category dominated the market in 2022 and hold a share of 60.15% of the total market. Respiratory endotherapy is recommended when there is a need of aspirating thick section that are causing atelectasis of lungs, to remove foreign bodies from the lungs and reduce or remove tumors in the trachea or bronchi. Rising cases of pulmonary disorders, and launch of technologically advanced bronchoscopes are driving the market of therapeutic devices segment.
“Amongst End User, the Hospital segment held the dominant share in 2022.”
On the basis of end-users, the market is categorized into Hospitals, diagnostic centers, and ambulatory surgical centers. Among these, the hospital’s category held a significant share of the market in 2022. This is mainly due to the high volume of respiratory endotherapy procedures performed in hospitals, as well as the availability of advanced medical equipment and expertise in this setting. Further, increasing demand for minimally invasive procedures and the growing availability of advanced medical equipment and technologies are also contributing to the growth of the market.
“Asia Pacific is expected to grow with the highest CAGR Respiratory Endotherapy Devices market during the forecast period.”
Asia Pacific is expected to grow with the highest CAGR Respiratory Endotherapy Devices market during the forecast period. The region consists of fast-developing nations such as China, Japan, and India due to which the demand for advanced diagnostic and therapeutic technologies is increasing. Furthermore, the Asia and Pacific region is home to more than 60% of the world’s population and this factor also makes the region the most attractive market for the growth of the Respiratory Endotherapy Devices industry. Along with this, increasing cases of respiratory disorders such as lung cancer, asthma, COPD, bronchitis, etc. in Asia is also driving the growth of the market. For Instance, as per the data of WHO, lung cancer is the leading type of cancer among the Asian population and about 1.3 Million newly diagnosed cases of lung cancer was observed during the year 2020.
Respiratory Endotherapy Devices Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Respiratory Endotherapy Devices market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Respiratory Endotherapy Devices Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Respiratory Endotherapy Devices market were the three major steps undertaken to create and analyze the adoption of Respiratory Endotherapy Devices in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of global Respiratory Endotherapy Devices market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Respiratory Endotherapy Devices market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Respiratory Endotherapy Devices market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as modality, service type, and specialist. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Respiratory Endotherapy Devices market. Further, we conducted factor analysis using dependent and independent variables such as modality, service type, and specialist of the Respiratory Endotherapy Devices market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Respiratory Endotherapy Devices market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Respiratory Endotherapy Devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Respiratory Endotherapy Devices market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Respiratory Endotherapy Devices market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Respiratory Endotherapy Devices market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the modality, service type, and specialist in the global Respiratory Endotherapy Devices market.
The main objective of the Global Respiratory Endotherapy Devices Market Study
The current & future market trends of the global Respiratory Endotherapy Devices market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Respiratory Endotherapy Devices market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of modality, service type, and specialist.
- Define and analysis of the regulatory framework for the Respiratory Endotherapy Devices industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Respiratory Endotherapy Devices market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the Respiratory Endotherapy Devices market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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