The global Laryngoscopes Market was valued at USD 1.1 Billion in 2022 and it is anticipated to grow up to USD 1.5 Billion by 2032, at a CAGR of 3.1% during the forecast period.
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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Market 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.
Market Restraints and 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.
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Major Players in the Global Laryngoscopes Market
The key players in the Laryngoscopes Market 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.
COVID-19 Impact:
The COVID-19 outbreak has positively impacted the sales of laryngoscopes. Surge in the number of COVID-19 patients and increased focus of healthcare services on the treatment of COVID-19 has augmented the market revenue. The increase in product demand is majorly due to the considerable patient base suffering from respiratory syndrome. Video laryngoscopes were widely used in severely ill COVID-19 patients for airway management.
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Global Laryngoscopes Market Segmentation
By Product
- Fiber Optic Laryngoscopes
- Video Laryngoscopes
- Standard/Conventional Laryngoscopes
By End-User
- Hospitals
- Specialty Clinics
- Others
By Usability
- Reusable
- Single-use
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