Home > Healthcare & Medical Devices > Laryngoscopes Market
Industry Overview
Laryngoscopes Market size was valued at over USD 700 million in 2021 and is anticipated to foresee an 8.1% CAGR from 2022 to 2030 owing to the increasing prevalence of larynx or pharyngeal cancer. Increasing preference for video laryngoscopy with availability of advanced devices will offer unprecedented growth opportunities to the industry during the forecast period.
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Laryngoscopy allows detection of cancer cells by the analysis of small tissues from the affected area. Thus, increasing number of new cancer cases will ultimately boost the demand for laryngoscopes across the globe. Further, product development offering advanced visualization abilities will enhance the market growth potential. It will stimulate the product demand across the healthcare facilities.
The COVID-19 outbreak has positively impacted the adoption of laryngoscopes during the period. The use of laryngoscopy was suggested by the healthcare professionals for airway management associated with COVID-19 infection. Thus, the upsurge in number of cases benefited the business revenue growth of the industry players. Moreover, the researchers are conducting studies to determine the potential of laryngoscopes in critically ill patients. Thus, the significantly growing COVID-19 cases, worldwide have influenced the demand for laryngoscopes.
Laryngoscopes are medical devices used for visual examination of vocal cords or larynx for detection of abnormalities or infection. These are being increasingly used for diagnosis and treatment of throat disorders. Laryngoscopy can be indirect or direct depending on visualization technique. Various types of laryngoscopes are currently marketed including fiber optic, video and conventional.
| Report Coverage | Details |
|---|---|
| Base Year: | 2021 |
| Market Size in 2021: | USD 724.2 Million |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 8.1% |
| 2030 Value Projection: | USD 1,494.3 Million |
| Historical Data for: | 2017 to 2021 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 176 |
| Segments covered: | Product, Usability, End-use, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Increasing demand for advanced visualization devices will boost the market growth in near future
Product advancements in laryngoscopes will strengthen the laryngoscopes market growth in coming years. Several companies operating in the market are competing on the basis of product technologies. Developed products has offered increased patient safety and high outcomes with better visualization capabilities. Further, improving accessibility of video laryngoscopes to healthcare professionals across the developing nations will propel the market growth in foreseeable future.
High resolution micro camera mounted in video laryngoscopes assist in improved view of vocal cord as well as increases the success rate. Additionally, growing awareness regarding early disease diagnosis and emergency visits to facilities will benefit the industry revenue growth.
Cost effectivity of fiber optic laryngoscopes will influence the market growth
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Laryngoscopes market based on product is classified into video laryngoscopes, fiber optic laryngoscopes and standard/conventional laryngoscopes. Fiber optic laryngoscopes segment was valued at over USD 100 million in 2021 driven by expanding product availability. These are increasingly used in endoscopic examinations, to visualize abnormalities, small growths and biopsy tissue from the specific region.
Additionally, lower cost of fiber optic laryngoscopes in comparison with video laryngoscopes increases its affordability for low-income population group. Thus, the higher product demand for cost effective laryngoscopes in such areas will augment the laryngoscopes market share in the upcoming period.
Reduced risk of cross contamination with the use of single-use laryngoscopes will accelerate the market growth
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Single-use segment will account for a considerable market share and is forecasted to proceed at 8.7% CAGR during the analysis timeframe. Increasing safety with the use of single-use laryngoscopes due to the reduced risk of cross infections among patients will influence the segment revenue growth. Further, the cost benefit of disposable products stimulates adoption rate in resource limited regions. Moreover, intersurgical single-use laryngoscope blades are proven to be safe, light, and strong alternative to metal versions.
Increasing patient visits with preference for focused treatment and diagnosis will accelerate the laryngoscopes market growth
Laryngoscopes market based on end-use is classified into hospitals, specialty clinics and others. Specialty clinics segment is projected to flourish at 7.7% CAGR during the analysis period. Increasing patient visits to specialty clinics including ENT clinics with availability of focused diagnosis and treatment will contribute to the segment growth.
Further, developing infrastructure in these facilities will stimulate patient preference. Expanding network of ENT clinics in developing countries ultimately benefits the product demand. Moreover, government fundings to expand facility network across developed as well as developing areas will propel the segment growth.
Expanding product availability with presence of leading players in the North America
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North America laryngoscopes market captured approximately 36% market share in 2021 and is poised to grow momentously over forecast timeframe due to the high-spending on-disease diagnosis coupled with disease prevalence. Further, the presence of established business players results in high regional share in the global market. Increased affordability leads to rising adoption of advanced video laryngoscopes.
In addition, increasing number of new larynx and pharyngeal cancer cases will benefit the North America laryngoscopes market growth. Thus, with high disposable income coupled with disease prevalence in the region will impel the regional industry growth in the forthcoming period.
Product development and collaborative strategies by prominent business players will offer competitive edge
Some of the notable market players operating in the laryngoscopes industru include Teleflex Incorporated, Medtronic, Ambu A/S, Olympus Corporation, FUJIFILM, Karl Storz, Hillrom, Flexicare Medical Ltd., Penlon Ltd., Rudolf Riester GmbH, Nihon Kohden, and Clarus Medical LLC among others. These market players are adopting numerous growth strategies such as collaboration, acquisition & merger, partnership and product launches to sustain market competition in laryngoscopes market.
Some of the recent industry developments:
- In July 2020, Nihon Kohden announced the launch of NK AWS-S200 video laryngoscope. This product launch has broadened market offerings and strengthened its laryngoscopes product portfolio in the market.
- In January 2019, Adroit Surgical, introduced the Vie Scope in the North America market. This has assisted the company in business growth in the market.
The laryngoscopes market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2022 to 2030, for the following segments:
By Product
- Fiber Optic Laryngoscopes
- Video Laryngoscopes
- Standard/Conventional Laryngoscopes
By Usability
- Reusable
- Single-use
By End-use
- Hospitals
- Specialty Clinics
- Others
The above information is provided for the following regions and countries:
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- South Africa
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