The global Laryngoscopes Market was valued at US$ 700 million in 2021 and it is anticipated to grow up to US$ 1.44 billion by 2031, at a CAGR of 7.4% during the forecast period.
Laryngoscopes are devices used to visualize the vocal cords as well as to place the endotracheal tube into the trachea under direct vision. It is primarily used in the procedure of laryngoscopy. The process of viewing the larynx or vocal folds and the glottis is known as laryngoscopy. It aids in tracheal intubation during general anesthesia or cardiopulmonary resuscitation for laryngeal or other upper tracheobronchial tree surgical procedures. The blades used in laryngoscopes are of two types: curved macintosh blade or miller with curved tip and straight blade or Wisconsin or foregger with straight tip. They come in a variety of sizes to accommodate patients of varying ages.
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Market Drivers and Trends
The growing prevalence of laryngeal cancer is the primary driver of the industry’s growth. Infections and chronic respiratory diseases are two major factors driving laryngoscope market growth. According to the article published in January, 2020, laryngeal cancer is a type of head and neck cancer that occurs when abnormal cells form in the larynx. Larynx cancer claimed the lives of 81,806 men and 12,965 women worldwide in 2018. Furthermore, there will be 12,370 new cases and 3,750 deaths from laryngeal cancer in the upcoming years. As a result of the aforementioned factors, the rising prevalence of laryngeal cancer increased demand for laryngoscopes, contributing to market growth.
Furthermore, the industry’s growth will be driven by new technological advancements in laryngoscopes. In 2019, according to the article. Manufacturers are focusing on developing advanced laryngoscopes to assist therapists in simplifying diagnostic and interventional procedures. They have allowed the industry’s leaders to focus more on R&D practices and collaborations with other companies. For example, in September 2019, Olympus introduced Rhino-laryngoscopes, a new generation of video. A lighter and slimmer laryngoscope allows physicians and therapists to see more key anatomy. Thus, according to physician demand, the introduction of technologically advanced laryngoscopes is one of the major factors responsible for fierce competition among market players. These factors are expected to drive the growth of the global Laryngoscopes Market.
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Major Players in the Global Laryngoscopes Market
The key players studied in the global Laryngoscopes Market are Ambu A/S (Denmark), BOMImed Inc. (Canada), Flexicare Medical Ltd. (UK), Karl Storz SE and Co. KG. (Germany), Medtronic plc (Ireland), Novamed USA Inc. (US), Penlon Ltd. (UK), Rudolf Riester GmbH (Germany), Teleflex Inc. (US), and Verathon Inc. (US) among others.
COVID-19 Impact
The COVID-19 pandemic had a significant impact on the market, because the procedures have been temporarily prohibited or postponed. Also, supply chain disruptions in several economies also hampered business growth. The market saw a drop in base point share values as a result of lockdown restrictions and distribution channel disruptions caused by the global COVID-19 pandemic. As a result of low adoption rates for elective surgical procedures, the market experienced a decline in base point share values.
Furthermore, the COVID-19 outbreak influenced the use of laryngoscopes during this time period. Healthcare professionals recommended laryngoscopy for airway management associated with COVID-19 infection. Thus, the increase in the number of cases benefited the industry players’ business revenue growth. Furthermore, the researchers are conducting research to determine the effectiveness of laryngoscopes in critically ill patients. As a result, the significantly increasing COVID-19 cases around the world have influenced the demand for laryngoscopes.
Global Laryngoscopes Market Segmentation
By Product
- Fiber Optic Laryngoscopes
- Video Laryngoscopes
- Standard/Conventional Laryngoscopes
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By End-User
- Hospitals
- Specialty Clinics
- Others
By Usability
- Reusable
- Single-use
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