Laryngoscopes Market Size, Share, Trends, Growth and Forecast 2032

Laryngoscopes Market Insights

Zion Market Research has published a report on the global Laryngoscopes Market, estimating its value at USD 2.72 Billion in 2023, with projections indicating that it will reach USD 4.59 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 6% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Laryngoscopes Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Introduction

The research report on the laryngoscope market explains that the increase in respiratory and throat-related diseases is garnering market growth, Furthermore, different types of laryngoscopies such as pediatric laryngoscopy, rigid laryngoscopy with its specific applications are gaining traction. New trends explain that the diagnostic flexible laryngoscopy is being highly consumed in the United States as people are being diagnosed with throat-related studies. Laryngoscopes are instruments that are used to visualize the vocal cords as well as to introduce an endotracheal tube (ETT) into the trachea under direct vision. It is mostly utilized in the laryngoscopy procedure. The larynx, or vocal folds, and the glottis are viewed with laryngoscopy.

The expansion of ENT clinics and cancer-based hospitals is also contributing to the market growth. The key developments in the market include the incorporation of digital imaging systems for navigational applications during laryngoscopy procedures. This further provides accurate diagnosis and image data through a disposable laryngoscope. Following the industry and macroeconomic dynamics, the market is subject to changes as per the medical device regulatory guidelines.

The laryngoscope market outlook states that the growth of the laryngoscopes market is set to be propelled by the increasing adoption of handheld modalities of laryngoscopes. This is a portable solution for facilities with poor outreach and accessibility of medical resources. Governments are installing laryngoscope instruments in remote areas to provide better healthcare support. Advanced video laryngoscope is also trending as it delivers lower rates of oesophageal intubation, enables better team performance, and enhances the overall critical care setting.

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Global Laryngoscopes Market: Overview

Laryngoscopy is endoscopy of the larynx, a part of the throat. It is a procedure that allows a doctor to examine the larynx, including the vocal cords, as well as surrounding structures such as the back of the throat. Laryngoscopy can be used to assist with Tracheal Intubation (TI) during Cardiopulmonary Resuscitation (CPR), or general anaesthesia, and for medical interventions on the larynx and other parts of the upper tracheobronchial tree.

Laryngoscopes Market: Report Scope

Global Laryngoscopes Market: Growth Factors

Due to continuous developments and superior services provided by players, video laryngoscopy is gaining a lot of traction. The video laryngoscope is commonly used in ICUs, pre-hospital settings, and emergency departments because of its ease of use. It provides quicker treatment for respiratory airway control than a traditional laryngoscope, which is increasing its popularity. The industry is also benefiting from the higher success rate of video laryngoscopy for tracheal intubation.

One of the major factors driving fierce competition among market players is the introduction of technologically advanced laryngoscopes in response to physician demand. Manufacturers are now focusing their efforts on introducing innovative laryngoscopes to help therapists to simplify diagnostic and interventional procedures. Leading players have also been able to expand their emphasis on R&D activities and partnerships with other businesses. For example, Olympus released a new generation of Video Rhino-Laryngoscopes in September 2019. This is a slimmer and lighter laryngoscope that helps doctors and therapists with greater visualization of key anatomy.

Since the high cost of laryngoscopes restricts the market, players are concentrating on launching low-cost devices. This is expected to open up lucrative growth opportunities.

The COVID-19 pandemic has affecting people and businesses all over the world. This has had a major impact on the medical device industry, including the demand for laryngoscopes. Several manufacturing firms have either shut down or are working under severe restrictions placed by governments in order to curb the virus's spread. Manpower shortages have also emerged as a significant source of concern. Furthermore, supply chain disruptions and currency volatility are exacerbating the situation. According to the report, the market will witness promising growth opportunities in the upcoming years.

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Global Laryngoscopes Market: Segmentation

Based on product type, the flexible laryngoscopes segment held a significant share in 2019. The most common examination for viewing the throat and its surrounding structures is flexible fiberoptic laryngoscopy. Endoscopic procedures are used to image biopsy tissue, abnormalities, and remove growths (polyps) from the area. It enables the doctor to view areas such as oropharynx (back of the mouth), nasopharynx (back of the nose), hypopharynx (entrance to the swallowing passage) and larynx (voice box).

In terms of end-users, the hospital segment is expected to remain dominant during the forecast period. The rising emphasis of emerging and developing economies on healthcare is leading to an increase in the number of hospitals as well as the expansion of existing ones. This is having a positive effect on the industry and in turn increasing demand.

Global Laryngoscopes Market: Regional Analysis

By Geography, the laryngoscopes market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa.

The most appealing market for laryngoscopes is North America. The region's growth can be attributed to an increase in Ear, Nose, and Throat (ENT) disorders among the geriatric population, the involvement of well-established healthcare organizations, and government programs promoting the use of video laryngoscopes in surgeries. Furthermore, the United States reported an increase in the incidence of laryngeal cancer in 2020, which has resulted in the growth of the North America laryngoscope industry. One of the main developments reshaping the North American laryngoscope industry is the launch of robot-assisted video laryngoscopes.

The European market for laryngoscopes is very profitable. The region's growth is largely due to an increase in the number of government-led healthcare initiatives. For example, the Health Program, a financial initiative that promotes cooperation among European Union (EU) countries while also supporting and developing EU health activities. Such measures are expected to have a positive effect on the European economy. Furthermore, commissions such as the European Platform Against Poverty are intended to improve initiatives in health promotion and prevention, with an emphasis on reducing health inequalities. They also assist EU countries and stakeholders in determining what works best and how to implement it. The European laryngoscopes market is benefiting significantly from such commissions and consistent efforts to develop healthcare in the region.

East Asia's economy is expected to expand rapidly during the forecast period. The observed growth is due to growing demand from emerging economies as a result of increased government funding for the development of minimally invasive devices in the region. Moreover, the expansion of existing hospitals in terms of facilities and dimensions, as well as the rapid establishment of new hospitals, are driving market growth. For example, in China, between 2010 and 2016, the hospital revenue increased by 163%. Such developments in the healthcare field, coupled with steady advancements in laryngoscopes, are expected to fuel the growth of the laryngoscopes market in East Asia.

Global Laryngoscopes Market: Competitive Players

The major players in the global laryngoscopes market include -

• KARL STORZ GmbH & Co.
• NOVAMED USA
• Flexicare Medical
• Penlon Limited
• Rudolf Riester GmbH
• Ambu A/S
• Medtronic plc.
• BOMImed
• Clarus Medical LLC
• Propper Manufacturing Co. Inc.
• Verathon Inc.
• Teleflex Incorporated
• Venner Medical (Germany) GmbH
• Medtronic among others.

The report segment of global laryngoscopes market are as follows:

Global Laryngoscopes Market: Type Segment Analysis

• Flexible
  • Video Laryngoscopes
  • Fiber Laryngoscopes
• Rigid

Global Laryngoscopes Market: Application Segment Analysis

• Diagnostic
• Surgical

Global Laryngoscopes Market: End-User Segment Analysis

• Hospitals
• Specialty Clinics
• Ambulatory Centres
• Surgical Centres
• Others

Global Laryngoscopes Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa