Endobronchial Ultrasound Biopsy Device Market size is slated to grow considerably through 2023 - 2032, driven by the surging occurrence of lung cancer worldwide. In fact, rising prevalence of lung cancer in Asia Pacific, particularly nations such as China and India, is primarily outlining the industry outlook. The high degree of indoor and outdoor air pollution across developing economies is giving a rise to a number of respiratory disorders, creating a bigger patient pool that requires endobronchial ultrasound biopsy as a part of the treatment.
According to the World Economic Forum, in China, poor outdoor air quality leads to over 1 million deaths annually. As endobronchial ultrasound (EBUS) biopsy is a minimally invasive surgical procedure that can diagnose lung problems such as inflammation, infection, and cancer accurately, expansion for EBUS biopsy devices is growing sharply across the globe.
Endobronchial Ultrasound Biopsy Device Market demand from bronchoscopes & probes segment is anticipated to grow at a considerable CAGR over 2023 and 2032, on account of the rising transbronchial biopsy procedures being performed globally. Increasing prevalence of respiratory diseases such as bronchopulmonary hemorrhage, blockages, chronic obstructive pulmonary disease (COPD), and tumors, especially amongst the geriatric population is fueling segment demand. As per the Asthma and Allergy Foundation of America, nearly 25 million people in the U.S. have asthma, which accounts for 1 in every 13 people. Also, around 7.8% of older people in the U.S. have asthma.
Based on end use, the Endobronchial Ultrasound Biopsy Device Market landscape is segmented into hospitals, ambulatory surgical centers, diagnostic centers, and specialty centers. Among these, the endobronchial ultrasound biopsy device industry share from specialty centers is poised to grow significantly by 2032. Segment outlook is set to be driven by factors such as healthcare infrastructure advancements and improving access to modern medical solutions such as lung transplants in these centers.
In addition, growing reliance on the expertise offered by pulmonologists and surgeons is also pushing patients towards these facilities. Specialty centers can provide interventional pulmonology services, which is an effective treatment modality for airway obstructions that eliminates the need for open surgery, making it more preferred among patients.
France Endobronchial Ultrasound Biopsy Device Market growth is expected to pick up pace through 2023 and 2032. As per official estimates, the case load is set to go up to 2.8 million by 2025, creating strong impetus for device adoption. The presence of favorable medical reimbursement policies across Europe are also enabling more patients to avail better treatment procedures, spurring revenues for the market.
Clinodevice, Olympus Corporation, Medtronic Plc, Veran Medical technologies, Boston Scientific Corporation, and Conmed are some major endobronchial ultrasound biopsy device suppliers. Many of these companies are prioritizing product innovations to sustain their industry leadership.