Electromagnetic Navigation Bronchoscopy Market

Electromagnetic Navigation Bronchoscopy Market Outlook (2024 to 2034)

The global electromagnetic navigation bronchoscopy market is estimated to reach US$ 124.35 million in 2024 and is forecasted to expand at a CAGR of 8.9% to reach US$ 292.77 million by 2034.

Conventional electromagnetic navigation bronchoscopy (ENB) uses thick bronchoscopes and real-time image guidance to diagnose peripheral pulmonary nodules (PPNs). A new ENB was created that is utilized with slender bronchoscopes. This study aimed to assess the diagnostic yield and the practicality of utilizing this ENB system in a real-world clinical setting.

This area in the healthcare sector is dedicated to the creation, manufacturing, and distribution of tools and equipment for electromagnetic navigation bronchoscopy (ENB) treatments. A minimally invasive diagnostic technique called electromagnetic navigation bronchoscopy guides bronchoscopes across the lungs' airways using electromagnetic technology. The diagnosis of lung infections, lung cancer, and other lung-related conditions is commonly possible with the use of this method.

The electromagnetic navigation bronchoscopy market has undergone substantial expansion in recent years than ever before, as there has been an increased need for less invasive diagnostic techniques that properly identify lung disorders. Factors driving the growth of the market include the growing prevalence of lung cancer and respiratory disorders, technical improvements in electromagnetic navigation bronchoscopy devices, and the increasing use of electromagnetic navigation bronchoscopy procedures by more healthcare providers.

Report Attribute	Detail
Electromagnetic Navigation Bronchoscopy Market Size (2024E)	US$ 124.35 Million
Forecasted Market Value (2034F)	US$ 292.77 Million
Global Market Growth Rate (2024 to 2034)	8.9% CAGR
East Asia Market Value (2024E)	US$ 21.24 Million
Mexico Market Value (2034F)	US$ 8.48 Million
Diagnostic Segment Growth Rate (2024 to 2034)	8.9% CAGR
United States Market Value (2034F)	US$ 105.92 Million
Key Companies Profiled	Medtronic; Olympus; LungCare; Body Vision Medical; Veran Medical Technologies; Boston Scientific Corporation.

Market Overview

Key players and manufacturers in the electromagnetic navigation bronchoscopy market are making immense efforts in developing advanced minimally invasive technology for catering to early diagnosis as well as treatment of lung cancer. Pulmonary physicians are likely to drive the demand for electromagnetic navigation bronchoscopy owing to increasing demand from patients for treatments at curable stages.

Disposable type working channels component is likely to gain significant traction in the electromagnetic navigation bronchoscopy market owing to the easy process of passing the diagnostic instruments like biopsy forceps, aspirating needles, and brushes. The rapidly increasing number of pathologies will further drive the demand for disposables type working channel components, thereby positively affecting the growth of the electromagnetic navigation bronchoscopy market.

The emergence of robots replacing surgeons in battling against lung diseases will further significantly boost the electromagnetic navigation bronchoscopy market growth. Regulatory bodies in the healthcare sector are making immense efforts to develop workshop sessions, which in turn increases awareness regarding the usage of electromagnetic navigation bronchoscopy.

Emerging thoracic surgeons and interventional pulmonologists are expected to highly benefit from advanced electromagnetic navigation bronchoscopy and its extended abilities. Manufacturers are making immense efforts to identify patients at an early stage, which in turn would help in reducing mortality rates due to lung cancers.

Electromagnetic navigation bronchoscopy uses electromagnetic technology to localize and guide endoscopic tools through the bronchial pathways of the lungs. Electromagnetic navigation bronchoscopy consists of a disposable working channel, a disposable guide catheter, software, and hardware components such as computers, monitors, and the electromagnetic board. The location sensor is attached at the distal tip of the guide catheter.

Electromagnetic Navigation Bronchoscopy Market: Drivers and Restraints

The attractive advantages of electromagnetic navigation bronchoscopy, especially its greater accuracy, precision, and ability to map a three-dimensional (3D) bronchial map, are the critical drivers of its market adoption.

The growing incidence of bronchial diseases such as lung cancer is the second-most significant driver of the electromagnetic navigation bronchoscopy market. Lung cancer is the most common form of cancer in the United States, accounting for approximately 14% of all cancer cases.

Traditional, bronchoscopy fails to reach these distant lesions, which are closer to vital organs such as the heart, resulting in greater potential for complications. Thus, the greater diagnostic yield of electromagnetic navigation bronchoscopy is driving a large market growth for the global electromagnetic navigation bronchoscopy market.

The greater accuracy and precision offered by electromagnetic navigation bronchoscopy converts into a high success rate of 69 to 80% as compared to approximately 50 to 65% for traditional bronchoscopy. The demand for minimum invasive procedures is the prime clinical driver of the market, owing to minimum hospital stays resulting from a lower surgical footprint.

Electromagnetic navigation bronchoscopy technology has several potential application expenses, such as placement of markers, guidance for trans-bronchial biopsy, and localization of lesions pre-surgery, which makes it a strategic market with high equity.

The higher cost of electromagnetic navigation bronchoscopy devices coupled with the scarcity of trained workforce are restraints on the global electromagnetic navigation bronchoscopy market. Electromagnetic navigation bronchoscopy entitles a greater cost of approximately US$ 3,000 per biopsy as compared to CT-guided biopsy. Electromagnetic navigation bronchoscopy also demands significant skills and experience, and has a steep learning curve, limiting it to specialized centers.

Other restraints that hamper the market for electromagnetic navigation bronchoscopy include pain, nosocomial infection, difficulty breathing, fever, swelling, or bleeding from the site.

Electromagnetic Navigation Bronchoscopy Market: Overview

The global market for electromagnetic navigation bronchoscopy is consolidated with a few large players dominating the scene. Market trends include technological and product development strategies such as advancements in resolution, 3D mapping, and others, which are generating high market demand.

Some of the established brands of electromagnetic navigation bronchoscopy are Veran Medical Technologies, Body Vision Medical, Medtronic plc, Body Vision Medical LTD., and others. Veran, with its SPiN Thoracic Navigation System, and Medtronic, with its superDimension ENB system, account for a major share of the market.

There is a high premium charged by competitors, owing to its consolidated structure. However, the competition exists only on distribution and functionality aspects, with price being unaffected. Thus, competitors are taking care not to harm the revenue potential of the global electromagnetic navigation bronchoscopy market.

Electromagnetic Navigation Bronchoscopy Market: Regional Wise Outlook

The global electromagnetic navigation bronchoscopy market is classified into regions, viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East and Africa.

North America is expected to account for the largest share of the global electromagnetic navigation bronchoscopy market, owing to the concentration of key market players, large purchasing power, consolidation of large healthcare players, and large healthcare expenditure amounting to 16% of GDP in 2016.

The excellent reimbursement for lung biopsy in the U.S. is a strong driver of the market, which ranges from USD 1,052.63 for biopsy, pleura, and percutaneous needles to USD 3,073.86 for thoracoscopy with pleura. The approval of Medicare & Medicaid Services (CMS) for screening for lung cancer is driving large market adoption.

The Asia Pacific excluding Japan market is expected to grow at a significant CAGR, owing to the expansion of the healthcare sector and growing prosperity of the economy. China and India are evaluated to have a lion’s share of the market.

Europe, led by Germany, France, and the United Kingdom, is projected to account for the second-largest market share. The large medical device industry of Germany is expected to benefit the European market. The Middle East and Africa market is analyzed to be skewed in favor of the Gulf economies of Saudi Arabia, Kuwait, and Qatar.

Electromagnetic Navigation Bronchoscopy Market: Key Players

Technological advancements and market position are the most attractive strategies, which yield a premium. Players are focusing on distribution efficiency by partnering with large hospitals and payers, which yield dividends, owing to faster adoption and lower marketing costs. Thus, captive distribution channels are playing a large part for established players. The barriers to entry are high, owing to the capital and resource intensity of the market.

The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.

The report covers an exhaustive analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved
• Technology
• Value Chain

Regional analysis includes:

• North America (U.S., Canada) Electromagnetic Navigation Bronchoscopy Market
• Latin America (Mexico, Brazil) Electromagnetic Navigation Bronchoscopy Market
• Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX) Electromagnetic Navigation Bronchoscopy Market
• Eastern Europe (Russia, Poland, Rest Of Eastern Europe) Electromagnetic Navigation Bronchoscopy Market
• Asia Pacific Excluding Japan (China, India, Australia & New Zealand) Electromagnetic Navigation Bronchoscopy Market
• Japan Electromagnetic Navigation Bronchoscopy Market
• Middle East and Africa (GCC, S. Africa, Rest Of MEA) Electromagnetic Navigation Bronchoscopy Market

Report Highlights:

• Detailed overview of the parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current, and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint

Segmentation of the Electromagnetic Navigation Bronchoscopy Market

• By Indication :

  • Therapeutic
  • Diagnostic

• By Component :

  • Software
  • Hardware
  • Disposables
  • Others

• By End User :

  • Hospitals
  • Ambulatory Surgical Centers
  • Others

• By Region :

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa