Laryngoscopes Market Analysis

Laryngoscopes Market Analysis

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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.
 

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.
 

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.
 

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.