Number of pages: 100 | Report Format: PDF | Published date: April 25, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
According to the deep-dive market assessment study by Growth Plus Reports, the global laryngoscopes market was valued at US$ 387.4 million and is expected to register a revenue CAGR of 8.3% to reach US$ 794.1 million in 2031.
Laryngoscopes Market Fundamentals
A laryngoscope is a medical instrument to visualize the larynx and the vocal cords. It consists of a handle and a blade inserted into the mouth to allow the doctor to examine the larynx and the surrounding structures. Laryngoscopes provide a clear and magnified view of the larynx and vocal cords, allowing healthcare providers to diagnose and treat various conditions accurately. Laryngoscopes are minimally invasive devices that perform various diagnostic and therapeutic procedures, such as biopsies, without major surgery. This can improve patient safety by reducing the risk of complications associated with traditional intubation methods. With proper training and technique, laryngoscopes have a high success rate in achieving airway control and intubation. Several developments in laryngoscope types have improved their functionality and safety in recent years. Recently developed wireless and video laryngoscopes have supported the global laryngoscopes market trends. The accuracy of airway management techniques has increased owing to these contemporary laryngoscopes, and the danger of problems during intubation has decreased. As a result, medical professionals are using these cutting-edge tools more frequently, propelling the global laryngoscopes market revenue growth.
Laryngoscopes Market Dynamics
The rising incidence of respiratory diseases, such as asthma, chronic obstructive pulmonary disease (COPD), and lung cancer, drives the global laryngoscopes market demand. Laryngoscopes are used to diagnose and treat these conditions and to facilitate airway management during anesthesia or emergencies. The increasing levels of air pollution, particularly in urban areas, can cause or exacerbate upper respiratory diseases such as asthma and allergies. Additionally, unhealthy lifestyle habits, such as smoking, poor nutrition, and lack of physical activity, increase the risk of upper respiratory diseases, directly influencing the global laryngoscopes market revenue.
Moreover, an increased number of hospitals and research centers shows lucrative growth in the laryngoscopes market opportunity owing to the increased use of laryngoscopes in improved throat cancer diagnostics. Cancer hospitals and advanced diagnostic centers require high-quality laryngoscopes to accurately diagnose and treat various head and neck cancers, often diagnosed and managed through laryngoscopy procedures. Also, concerning healthcare expenditure, cancer hospitals and advanced diagnostic centers are more likely to invest in the latest technologies, including advanced laryngoscopy equipment, which can help improve the accuracy and efficiency of diagnostic and therapeutic procedures.
Furthermore, laryngoscopes are an essential tool for diagnosing and monitoring respiratory infections. The COVID-19 pandemic has had a significant impact on the laryngoscopes market overview. As such, the pandemic has led to a surge in demand for laryngoscopes in healthcare facilities worldwide. Governments and healthcare organizations have increased their spending on medical equipment and supplies, including laryngoscopes, in response to the COVID-19 pandemic. For instance, in May 2021, the Government of India, Ministry of Health & Family Welfare released the SOP on COVID-19 Containment & Management in peri-urban, rural & tribal areas where one laryngoscope was allotted compulsorily for each COVID Care Centre (CCC) to provide better treatment to the patient.
However, the high cost of the laryngoscope is the major restraining factor inhibiting the growth of the global laryngoscopes market revenue. In addition, the inflated cost of these video laryngoscopes is offset by their durability and potential cost savings in the long run, making them a worthwhile investment for healthcare facilities. Furthermore, advancements in technology and increasing demand for minimally invasive procedures are expected to drive the revenue growth of the global video laryngoscope market. Moreover, lacking trained professionals is a major challenge for the laryngoscopes market revenue.
Laryngoscopes Market Ecosystem
This report provides the global laryngoscopes market analysis in terms of revenue, market dynamics, regional landscape, and overall competitive positioning of the major market players.
The global laryngoscopes market overview is analyzed from four perspectives: type, usability, end user, and region.
Laryngoscopes Market by Type
Based on the type, the global laryngoscopes market is segmented into rigid laryngoscopes and flexible laryngoscopes. The flexible laryngoscope segment is further sub-segmented into fiber optic laryngoscope and video laryngoscope.
Flexible laryngoscopes accounted for the largest revenue share of the global laryngoscopes market in 2022. Flexible laryngoscopes are less invasive and less uncomfortable for patients during intubation procedures than rigid laryngoscopes. Also, flexible laryngoscopes can be maneuvered around anatomical structures more easily than rigid laryngoscopes, allowing for more precise and accurate intubation. In addition, they offer improved visualization of the larynx and vocal cords, which can improve diagnostic accuracy and patient outcomes. They are less likely to cause injury or trauma to the airway or surrounding tissue during intubation procedures than rigid laryngoscopes. Furthermore, flexible laryngoscopes can be used for various procedures, including bronchoscopy and esophagoscopy. Therefore, the advantages of flexible laryngoscopes have led to their increased adoption and dominance in the laryngoscope market.
However, rigid laryngoscopes still have certain advantages in specific situations, such as when a patient has a difficult airway or in emergencies where speed is critical. As such, both types of laryngoscopes continue to have a place in clinical practice.
Laryngoscopes Market by Usability
Based on usability, the global laryngoscopes market is segmented into disposable laryngoscopes and reusable laryngoscopes.
The reusable segment accounted for the largest revenue share of the global laryngoscopes market in 2022. Hospital and medical professionals’ procurement decisions are significantly influenced by the device’s reusability. These instruments are also chosen because they are simpler and have more features than conventional laryngoscopes. Additionally, these devices may be reused, which helps to reduce costs over time and makes them a more cost-effective option for healthcare organizations. Additionally, they help medical practitioners provide better patient care because of their cutting-edge capabilities, like wireless connectivity and video recording. Moreover, reusable laryngoscopes are also more environmentally friendly as they reduce the amount of medical waste generated by hospitals and clinics. Disposable laryngoscopes contribute significantly to the accumulation of medical waste, which can harm the environment. Also, reusable laryngoscopes are more likely to be the equipment that healthcare providers are trained to use. This familiarity with equipment can lead to more efficient and effective airway management during procedures.
Laryngoscopes Market by End User
Based on the end users, the global laryngoscopes market is segmented into hospitals, specialty clinics, ambulatory surgical centers, and others.
Hospitals accounted for the largest revenue share of the global laryngoscopes market in 2022. In hospitals, laryngoscopes are routinely used for various medical operations, especially those involving the airway. Laryngoscopes are frequently used for endotracheal intubation, which includes placing a breathing tube in the trachea to keep a patient’s airway open during surgery or other medical operations. Hospitals have developed innovative diagnostic medical gadgets lately since they have adequate financing. The accuracy and speed of diagnosis have increased thanks to these cutting-edge diagnostic medical technologies, improving patient outcomes. This new technology has also made laryngoscope use safer and more effective. Laryngoscopes are used in emergencies to swiftly open an airway in individuals with respiratory failure or discomfort.
Additionally, anesthesiologists routinely utilize hospital laryngoscopes to monitor patients’ airways and ensure they get adequate oxygen during surgery. As a result, hospitals undertake the greatest number of airway management operations, contributing to the segment’s strong rise. In February 2021, Ambu A/S enhanced its position in endoscopy by renewing contracts with two significant U.S. group purchasing organizations. As a result, the company’s line of single-use endoscopes, including rhino laryngoscopes, bronchoscopes, and cystoscopes, became available to 90% of U.S. hospitals.
Laryngoscopes Market by Region
Based on the region, the global laryngoscopes market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest revenue share of the global Laryngoscopes market in 2022. North America has a high prevalence of respiratory diseases, such as chronic obstructive pulmonary disease (COPD), asthma, and sleep apnea. As a result, there is a high demand for laryngoscopes to manage airways and assist with intubation in patients with respiratory distress. Also, the geriatric population in North America is increasing, and the elderly are more susceptible to respiratory illnesses and require airway management more frequently. This demographic trend is expected to drive the demand for laryngoscopes in the region. Moreover, the governments in North America provide significant support to the healthcare industry, including funding for research and development, training programs for healthcare professionals, and policies that support the use of advanced medical technologies like laryngoscopes.
During the forecast period, Asia Pacific will experience the quickest revenue growth. It can be ascribed to the high illness load, enormous unmet patient requirements, regular technological and infrastructural advancements in the medical device industry, and increased healthcare spending in the area. According to a report released by the WHO in Asia, the prevalence rate of COPD was approximately 6.5% in 2019.
Laryngoscopes Market Competitive Landscape
Multiple companies across the globe are investing in raising awareness and reimbursement, which is expected to improve the laryngoscopes market outlook. Notable market participants accounts for largest revenue share of the global laryngoscopes market include,
Laryngoscopes Market Strategic Developments
Laryngoscopes are medical devices used to visualize and access the larynx, to manage the airway during medical procedures, such as intubation, and to diagnose and treat various conditions affecting the larynx and surrounding areas.
Flexible laryngoscopes account for the largest revenue share of the global laryngoscopes market.
North America accounts for the largest revenue share for laryngoscopes market.
Key companies operating the global Laryngoscopes market are Ambu A/S, BOMImed Inc., Clarus Medical LLC, Flexicare Medical Ltd., and Karl Storz SE.
The expected revenue CAGR of 8.3% in the global laryngoscopes market is expected during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain