Global Video Laryngoscope Market Size To Grow At A CAGR Of 18.4% In The Forecast Period Of 2023-2028
Video Laryngoscope Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The ‘Global Video Laryngoscope Market Trends, Size, Share, Scope, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global video laryngoscope market, assessing the market on the basis of its segments like product, type, channel type, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 18.4%
Video laryngoscopes have shown to be extremely effective in critical care settings with lower oesophageal intubation rates, reduced impact on airway, and greater efficiency of diagnosis and treatment, which is driving its demand across the healthcare units. In addition, video laryngoscopes are ideal to achieve quick intubations. Hence, the rapid transition from conventional to video laryngoscopes is fuelling the global video laryngoscope market.
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The increasing prevalence of larynx-related conditions such as arytenoid granuloma, laryngeal papillomatosis, vocal cord cancer, vocal cord paralysis, and vocal cord nodules, among others, is driving the demand for video laryngoscopes. Additionally, the rapid digitalisation across hospitals and diagnostic centres are escalating their demand further.
Video laryngoscopes are equipped with recording features which make them useful for academic research, knowledge, and teaching. Moreover, they have been known to depict enhanced views of the airways of children, which is further escalating their demand across paediatric treatment facilities.
Furthermore, the rising healthcare expenditure, favourable reimbursement policies of the developed economies, and increasing health awareness among the working population, are some of the crucial video laryngoscope market bolstering factors. Over the forecast period, video laryngoscopes are expected to witness a heightened demand in resourced and prehospital emergency segments of the hospitals.
Video Laryngoscope Industry Definition and Major Segments
Laryngoscopy is defined as a process of examining the larynx to view the vocal cords as well as related airway structures that don’t support a direct line of sight. Video laryngoscope is defined as a rigid device which provides high-resolution visual depictions of the larynx. These devices work on the principle of retraction and have illuminates and optical elements which capture precise details of the larynx.
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Based on product, the market is segmented into:
By type, the market is bifurcated into:
- Integrated Display Models
- Cart-Based Models
On the basis of channel type, the market is divided into:
Based on end use, the market is segmented into:
- ENT Clinics
On the basis of region, the market is categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Video Laryngoscope Market Trends
The key trends in the global video laryngoscope market include the growing research and innovative activities by the MedTech companies aimed towards improving the success rate of tracheal intubation and direct laryngoscopy. Advancements of camera resolutions, with enhancements in design, handling, and guidance, are increasing the product profile. In addition, the changing patient preferences towards minimally invasive treatment procedures is another key trend bolstering the demand of video laryngoscopes.
The increasing geriatric population and their associated risks of vocal cord dysfunction are crucial trends in the video laryngoscope market. Meanwhile, the increasing demand for emergency and intensive care is fuelling the need for airway management services. Video laryngoscopes are quick and effective which can save time of the patient and healthcare staff. Moreover, the increasing preference towards disposable medical equipment, owing to the hassle free and time saving utility, is further boosting the demand for single-use video laryngoscopes.
In geographical terms, North America holds a significant share in the video laryngoscope market. This can be attributed to the high healthcare expenditure of the United States, increasing geriatric population, and heavy presence of MedTech manufacturers. Further, the favourable policies of the government supporting the healthcare management of working professionals are further shaping the market dynamics.
Key Market Players
The major players in the global video laryngoscope market report are:
- Medtronic Plc
- KARL STORZ SE & Co. KG
- Verathon Inc.
- Nihon Kohden Corporation
- Intersurgical Ltd
- Ambu A/S
- Prodol Meditec, S.A.
- Vyaire Medical, Inc.
- Shenzhen Besdata Technology Co., Ltd.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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