Laryngoscopes Market to Reach US$ 1.5 Bn by 2032, driven by new product launches and strategic activities by major players: Global Insight Services
New York, March 2023: According to a new research study by Global Insight Services (GIS), the global Laryngoscopes Market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 1.5 Billion by 2032.
Laryngoscopy is a medical device used in the visualization and examination of larynx. It is also used during tracheal intubation in patients requiring ventilator support and compose of blades, light source and handle. The two forms of laryngoscopy procedure are direct laryngoscopy and indirect laryngoscopy.
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Laryngoscopes Market: Key Trends and Drivers
Increasing disease burden of laryngeal diseases as well as infectious and chronic respiratory diseases in developing countries is a major factor contributing to the laryngoscopes market share. Laryngeal cancer is second most common respiratory cancer, and incidence rate of laryngeal cancer is rising majorly due to adoption of unhealthy lifestyle and increased consumption of alcohol and tobacco. According to the Centers for Disease Control and Prevention, in U.S. about 40 million adults smoke cigarettes, and around 4.7 million middle and high school students consume at least one tobacco product. Thus, increasing adult smoking rates and tobacco consumption has led to several laryngeal diseases. Additionally, according to the American Society of Clinical Oncology (ASCO), approximately 184,615 individuals were diagnosed with laryngeal cancer globally. Hence, increasing demand for laryngoscopes to treat such diseases will accelerate the industry growth in forecast period.
Laryngoscopes Market: Restraints & Challenges
The market growth is limited by the strict regulations imposed on these devices. Additionally, high cost of these devices is another aspect that is expected to limit the industry growth. Furthermore, miniaturization of newly developed fiber optic laryngoscope could generate numerous growth opportunities for the market in the coming years.
Laryngoscopes Market Report Findings
The Video Laryngoscopes segment is likely to hold a dominant Laryngoscopes Market share and grow at a substantial CAGR during the forecast period.
Based on product, the market is bifurcated into Fiber Optic Laryngoscopes, Video Laryngoscopes, and Standard/Conventional Laryngoscopes. Video laryngoscopes segment is estimated to grow at xx% CAGR over the anticipated time period. Growing awareness about advantages associated with use of video laryngoscopes over conventional laryngoscopes will foster the market demand. The advantages include enhanced laryngeal view, reduction in applied force, and higher rates of successful rescue after the failure of direct laryngoscopy. Additionally, video laryngoscopes reduce errors during intubation and improves learning, feedback for a patient being put on ventilator.
The reusable segment is anticipated to hold a majority of the Laryngoscopes Market size throughout the study period.
Based on the usability, the market is bifurcated into Reusable, and Single-use. Laryngoscopes market from reusable segment was accounted for more than USD xx million in 2022. Reusability of devices is an important factor influencing medical professionals’ and hospitals’ purchasing decisions. These devices are highly preferred due to more functionality than traditional laryngoscopes and ease of use. On the other hand, reusable laryngoscopes, are more expensive up front but do not need to be replaced as frequently.
The hospital segment is anticipated to hold a majority of the Laryngoscopes Market size throughout the study period.
Based on the end-use, the market is bifurcated into specialty clinics, hospitals, and others. The hospital segment held over xx% revenue share in 2022, owing to expanding number of hospitals among developing and developed countries. Additionally, availability of advanced video laryngoscopes and enhanced visualization is likely to contribute to the segment demand. With high penetration of hospitals and presence of healthcare professionals will bolster the laryngoscopes market progression.
The Europe region is estimated to exhibit the highest growth rate during the Laryngoscopes Market forecast period.
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Europe laryngoscopes market exceeded USD xx million in 2022 and is predicted to witness enormous growth during analysis timeframe due to rising prevalence of respiratory diseases among geriatric population as well as in adults. Increasing consumption of tobacco, smoking and rising air pollution are some factors that trigger respiratory diseases. Moreover, increasing number of healthcare initiatives by several government and non-government organization in the region will accelerate the regional market growth.
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The global Laryngoscopes Market report includes players are KARL STORZ GmbH & Co, Ambu A/S, Medtronic plc, Flexicare Medical, Penlon Limited, Rudolf Riester GmbH, Propper Manufacturing Co. Inc., Teleflex Incorporated, Verathon Inc, Venner Medical, Olympus Corporation, among others.
Recent Developments in the Blood-Brain Barrier Market:
- In November 2022, PROACT Medical launched an innovative new range of gas sampling lines along with their new line of single-use laryngoscopes in the European market.
- In July 2022, Zsquare, a leading developer of high-performance, single-use endoscopes, announced that it received FDA clearance to market its first product, the Zsquare ENT-Flex Rhinolaryngoscope.
Laryngoscopes Market Report Coverage
- The report offers a comprehensive quantitative as well as qualitative analysis of the current global Laryngoscopes Market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
- A thorough analysis of market trends and restraints is provided.
- Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
- The forecasts in this report are made by examining the recent trends along with future Laryngoscopes Market potential from 2021 to 2031 in terms of revenue.
- Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Laryngoscopes Market are also analyzed.
- Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global kidney stones management market.
Global Laryngoscopes Market Segmentation
- Fiber Optic Laryngoscopes
- Video Laryngoscopes
- Standard/Conventional Laryngoscopes
- Specialty Clinics
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Rest of World
- Latin America
- Middle East
- KARL STORZ GmbH & Co
- Ambu A/S
- Medtronic plc
- Flexicare Medical
- Penlon Limited
- Dodow (LIVLAB)
- Rudolf Riester GmbH
- Propper Manufacturing Co. Inc
- Teleflex Incorporated
- Verathon Inc,