The demand for laryngoscopes is rising in response to the increasing incidence prevalence of laryngeal diseases such as laryngitis, larynx cancer, and diseases affecting vocal nodules. According to a new study by Future Market Insights (FMI), the laryngoscopes market is likely to rise at above 5% CAGR between 2020 and 2030. Laryngoscopes help in the insertion of tubes like endotracheal tube and gastric tube. They are used to examine the back of the throat to collect samples as well as help in the indirect visualization process of the vocal chords and surrounding areas.
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The rising demand for non-invasive devices for the treatment of laryngeal diseases is driving the laryngoscopes market. Increasing number of doctors and medical professionals are now opting to follow laryngoscopy due to its effectiveness. FMI forecasts this to rise consistently over the course of the forecast period.
Key Takeaways from Laryngoscopes Market Report
- The laryngoscopes market to exhibit surging sales as demand rises due to the increasing incidence of vocal or throat related diseases
- Increasing caution regarding hygiene have resulted in doctors adopting laryngoscopes in order to minimize invasion and contact
- Reusable laryngoscopes are popular in the market due to their environmentally friendly properties
- North America is expected to emerge as the leading market for laryngoscopes and is likely to remain dominant through the forecast period
- While hospitals will continue exhibiting high demand, sales in specialty clinics as well are expected to surge in the coming years
As a result of growing competition market players are expected to focus more on product launches. In the coming years emphasis on low-cost and next-generation laryngoscopes is therefore expected to rise. This will also help market recover growth during the post COVID-19 period, says an FMI analyst.
COVID-19 Impact Analysis
The COVID-19 pandemic has disrupted a lot of industries, including the laryngoscopes market. Implementation of lockdowns and ban on transportation have declined production of laryngoscopes. While there has been demand for laryngoscopes from the health industry, shortage of manpower as well as resources have slowed down production.
The market is expected to bounce back following the pandemic due to increasing demand for non-invasive throat treatments. Heightened awareness regarding hygiene due to the pandemic is also expected to boost demand for laryngoscopes. The market is expected to travel at a positive trajectory from 2021.
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Who Is Winning?
The laryngoscopes market is mainly dominated by a few key players in the market. Increasing demand and favorable government policies have created opportunities for the entry of new players in the market. Players are now seeking to expand their growth by collaborating and partnering with different companies.
Players have shifted their focus to develop and innovate desgins that ensure better safety and comfort. Key players are now involved in developing laryngoscopes to correct existing errors and deficiencies. This has increased competition among the players to create better and more efficient laryngoscopes.
Some of the key players in the laryngoscopes market are Johnson & Johnson, Pentax Medical Company, Boston Scientific Corporation, Karl Storz GmbH & Co. KG, Fujifilm Holdings Corporation, B. Brain Melsungen AG, Olympus Corporation, Medtronic Plc., Smith & Nephew PLC, Conmed Corporation and Stryker Corporation.
Valuable Insights into The Laryngoscopes Market Report
A recent report by Future Market Insights (FMI) has presented a detailed analysis on the laryngoscopes market along with assessment for the years 2020-2030. In order to ensure a better understanding, the market has been divided into several segments.
The market has been divided based on the product type into rigid laryngoscopes and flexible laryngoscopes. Flexible laryngoscopes are further segmented into video laryngoscopes and fiber laryngoscopes. Video laryngoscopes display more demand due to their noninvasive nature. Based on the end user, the market is divided into hospitals, ambulatory surgery centers and specialty clinics.
On the basis of usability, the market is divided into reusable and disposable. Reusable laryngoscopes display greater lifecycle, making it a cost efficient choice in the longer run. Due to this, reusable segment dominated the usability segment. The market is divided based on the geographical location into North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa.
Product Type
- Rigid Laryngoscopes
- Flexible Laryngoscopes
- Video Laryngoscopes
- Fiber Laryngoscopes
End User
- Hospitals
- Ambulatory Surgery Centers
- Specialty Clinics
Usability
- Reusable
- Disposable
Regional Outlook
- North America – U.S. and Canada
- Latin America – Brazil, Mexico, Argentina and rest of Latin America
- Europe – Germany, France, Italy, UK, Spain, Russia, and rest of Europe
- South Asia – India, Thailand, Indonesia, Malaysia, and rest of South Asia
- East Asia – China, Japan, and South Korea
- Oceania – Australia and New Zealand
- Middle East & Africa – GCC counties, Northern Africa, South Africa, Turkey and rest of Middle East And Africa
Key Questions Answered in the Report
At what rate the global laryngoscopes market is forecast to grow?
Which are the lucrative markets for Laryngoscopes?
Which are the top companies in the laryngoscopes market?
What is the outlook on the market?
What are the key challenges witnessed in the laryngoscopes market?
What are key trends driving the laryngoscopes market?
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