Laryngoscopes Market

The global Laryngoscopes Market is valued at USD 0.7 Billion in 2022 and is projected to reach a value of USD 1.2 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 8.9% between 2023 and 2030.

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With a prevalence of 454.6 million cases (417.4-499.1) globally in 2019, CRDs were the third most common cause of death, accounting for 4.0 million deaths (95% confidence interval 3.6-4.3) in 2019. While the number of deaths overall and the prevalence of CRDs have risen by 28.5% and 39.8%, the age-standardized rates have decreased by 41.7% and 16.9% from 1990 to 2019. The leading factor in mortality from CRDs, accounting for 3.3 million (2.9-3.6 deaths), was COPD, which had 212.3 million (200.4-225.1) prevalent cases. Asthma had the highest incidence among CRDs, with 262.4 million (224.1-309.5) prevalent cases. As a result, the rising incidence of respiratory diseases such lung cancer, asthma, and chronic obstructive pulmonary disease (COPD) is a major factor in the need for Laryngoscopes.

• According to the ABS's 2020-21 National Health Survey (NHS), 30% of Australians reported having persistent respiratory issues. 5.1 million (20% of the total population) of the 7.5 million Australians believed to have these disorders had allergic rhinitis, 2.7 million (11%) had asthma, and 2.0 million (8.0%) had chronic sinusitis.
• North America generated more than 42.3% of revenue share in 2022.
• Asia Pacific is expected to grow at the quickest rate from 2023 to 2030.
• The rigid segment accounted for the most significant market growth and contributed over 60.5% of the total revenue share in 2022.
• The reusable segment revealed the most significant market growth, contributing more than 62.5% of the total revenue share in 2022.
• The specialty Clinics segment accounts for the most considerable revenue of 34.6% in 2022.

Economic Insights

One of the economic insights driving the growth of the Laryngoscopes market is the aging population. As the global population ages, there is a higher incidence of age-related respiratory diseases such as chronic obstructive pulmonary disease (COPD) and asthma. This has led to an increased need for Laryngoscopes, as these devices are commonly used to diagnose and treat such conditions. For example, the fourth biggest cause of death in the US is COPD, which the CDC estimates to affect more than 16 million adults. This has increased the demand for Laryngoscopes to manage COPD and other respiratory diseases. Additionally, the growing market for Laryngoscopes has been aided by the rising desire for minimally invasive procedures. Patients now prefer methods that have shorter recovery times and fewer complications. Laryngoscopes are increasingly used in minimally invasive surgeries, enabling physicians to perform procedures with smaller incisions, resulting in faster recovery and reduced hospital stays.

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Top Market Trends

• Increased adoption of video Laryngoscopes: Video Laryngoscopes use a camera to visualize the airway during intubation procedures, providing better visualization and improved success rates. This technology is gaining popularity among healthcare professionals, driving the growth of the Laryngoscopes market. For instance, OmniVision’s single-use video Laryngoscopes improve patient care by making insertion more accessible and faster, reducing complications and even death risks in difficult airways.
• Rising demand for disposable Laryngoscopes: Disposable Laryngoscopes offer several advantages, including reduced risk of cross-contamination, cost-effectiveness, and convenience. Growing awareness about infection control measures and the benefits of disposable Laryngoscopes is fueling their demand in healthcare facilities.
• Technological advancements: The Laryngoscopes market is witnessing several technological advances, such as developing wireless Laryngoscopes, LED light sources, and improved blade designs. For instance, Britescope is designed to leverage artificial intelligence and other technologies to increase the reliability of emergency intubation. A camera is part of the apparatus. These innovations improve Laryngoscopes' ease of use, portability, and overall performance, driving market growth.
• Growing geriatric population: The global population is increasing, increasing the incidence of age-related medical conditions and surgical procedures. For instance, according to NIH, the number of adults over 85 will rise quickly by 2030. Likewise, the number of adults over age 80 around the globe will triple by 2050. As Laryngoscopes are commonly used in anesthesia and intubation procedures in the elderly population, the growth in the geriatric population is expected to expand the Laryngoscopes market.
• Increasing number of surgical procedures: The amount of cases of chronic illnesses is increasing, while surgical techniques have advanced, increasing the number of operations done globally. For instance, approximately 234 million major surgical procedures are performed annually worldwide, around which about 70 million surgeries are performed on older adults across the globe each year. Laryngoscopes are essential in various surgeries, such as ENT procedures, general surgery, and emergency medicine, contributing to market growth.

Market Segmentation

The Global Laryngoscopes Market is segregated into the segments as mentioned below:

The global Laryngoscopes market can be categorized into Type, Usability, End User, Region. The Laryngoscopes market can be categorized into Rigid, Flexible based on Type. The Laryngoscopes market can be categorized into Reusable, Disposable based on Usability. The Laryngoscopes market can be categorized into Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Other End Users based on End User. The Laryngoscopes market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Based on Product Type

The Rigid segment holds the largest share

Rigid segment holds the majority of the market share in 2022. The rigid segment of Laryngoscopes is often considered more cost-effective and durable than other types, such as flexible or disposable ones. This makes them a preferred choice for healthcare professionals and hospitals, leading to further growth in the rigid segment of the Laryngoscopes market. In addition, the increasing number of surgeries and procedures in hospitals and ambulatory surgical centres has also boosted the demand for Laryngoscopes, including the rigid segment. These facilities require a high-quality, reliable, and durable Laryngoscopes for their surgical procedures.

Based on Usability

Reusable segment dominated the market

In 2022, the market was led by the reusable category. Reusable Laryngoscopes are more cost-effective in the long run than their disposable counterparts. While the initial investment may be higher, their reusability reduces the need for frequent repurchases, resulting in lower overall costs. They are therefore a desirable alternative for healthcare facilities, particularly those that see a lot of patients. In addition, with growing concerns about healthcare waste and its impact on the environment, there is an increasing emphasis on reusable medical devices. Reusable Laryngoscopes help reduce the amount of medical waste generated, making them a greener alternative. This factor has led to a shift towards reusable instruments and has contributed to the growth of the reusable segment in the Laryngoscopes market.

Based on End-user

Specialty Clinics account for largest market share

Specialty Clinics segment expressed the potential growth of the market in 2022. Several countries increased healthcare expenditure and infrastructure development have improved access to specialty clinics. This has increased patient footfall and the number of procedures performed in these clinics. As Laryngoscopes are essential tools for diagnosing and treating laryngeal disorders, the growth of specialty clinics has positively influenced the Laryngoscopes market. In addition, the ongoing COVID-19 epidemic has brought respiratory illnesses to the public's attention and underlined the value of maintaining good respiratory health. Respiratory and throat infections often require examination of the larynx for proper diagnosis and treatment. Specialty clinics are witnessing a surge in cases related to respiratory and throat infections, leading to an increased demand for Laryngoscopes.

Based on Region

North America will lead the market

Due to several factors, the North American market expressed a dominant position in the Laryngoscopes market. These factors include the easy availability of technologically advanced products, high medical spending, well-developed medical infrastructure, and a high prevalence of laryngeal disease in the region. This can be seen through the example of Canada, where approximately 7,400 people were diagnosed with head and neck cancers in 2022. Additionally, the increased usage of video Laryngoscopes for effective results in the United States is another key contributing factor to the market growth in North America. The development of the Laryngoscopes market in the United States is further fueled by significant product launches, the high concentration of market participants, and the presence of manufacturers in the nation. For example, Ambu recently launched its Ambu aView 2 Advance Display Unit for endoscopes in Europe and the United States. This product allows for the use of Ambu's bronchoscope, rhinoLaryngoscopes, or cystoscope and offers the option to transfer recorded data to the hospital's electronic health records. These continuous product launches in the region are expected to contribute to the growth of the Laryngoscopes market in the United States.

Competitive Landscape

The number of companies competing in the market and their attempts to obtain a competitive edge are referred to as the Laryngoscopes market's competitive landscape. This includes an analysis of their market share, product portfolio, pricing strategies, distribution channels, and growth strategies. These companies compete on product quality, pricing, innovation, brand reputation, and customer service. They constantly invest in research and development to develop technologically advanced and innovative Laryngoscopes to cater to the evolving demands of healthcare professionals and patients. For example, market leaders such as Medtronic and Karl Storz have a wide range of Laryngoscopes in their product portfolio, catering to different clinical requirements. Their strong distribution network ensures their products reach healthcare facilities worldwide. These businesses emphasize strategic alliances and partnerships as a way to increase their market presence and obtain an edge over rivals.

The players in the global Laryngoscopes market include Prodol Meditec S.A. (Spain), Ambu A/S (Denmark), Medtronic PLC (Ireland), KARL STORZ (Germany), Nihon Kohden Corporation (Japan), Verathon Inc. (U.S.), Salter Labs (U.S.), VDO Medical Inc. (U.S.), AAM Vimed-mac, Olympus Corporation (Japan), Abbott Laboratories (U.S.), Becton Dickinson and Company (U.S.), HOYA Corporation (Japan), Stryker Corporation (U.S.), Hill-Rom Services Inc. (U.S.), SCHOTT AG (Germany) among others.

Recent Market Developments

• In April 2022, OmniVision, a global semiconductor developer, launched new Laryngoscopes reference designs featuring clear images for single-use video Laryngoscopes. This visualization improves patient care by making insertion easier and faster, reducing complications and even death risks in difficult airways.
• In July 2022, Zsquare, a leading developer of high-performance, single-use endoscopes, announced that it received FDA clearance to market its first product, the Zsquare ENT-Flex RhinoLaryngoscopes.
• In March 2022, Mercury Medical selected Andau Medical as their Canadian Airtraq Video Laryngoscopes System Distribution Partner with the signing of an Exclusive Agreement. Mercury Medical, the exclusive North American distributor of the Airtraq video Laryngoscopes and camera system, has selected Andau Medical as their exclusive Canadian distribution partner for the state-of-the-art Airtraq video Laryngoscopes product line.

Segmentation of the Global Laryngoscopes Market