The bronchoscopy market consists of sales of bronchoscopes and bronchoscopy services. Bronchoscopy is a technique for visualizing inside airways or lungs for therapeutic and diagnostic purposes. In bronchoscopy, an instrument is inserted into the airways through nose, mouth, or sometimes through a tracheostomy through which the practitioner can examine the patient`s airways for any infections.
The global bronchoscopy market is expected to grow from $2.10 billion in 2019 to $2.56 billion in 2020 at a compound annual growth rate (CAGR) of 21.9%. The growth is mainly due to the significant growth of COVID-19 cases across the globe, which require bronchoscopy devices to check the patients affected by the coronavirus that mainly targets the lungs. The market is then expected to stabilize and reach $2.70 billion in 2023 at a CAGR of 2%.