Market Size of Laryngoscope Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 9.40 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Laryngoscopes Market Analysis
The Laryngoscope Market is expected to register a CAGR of 9.4% over the forecast period.
The COVID-19 pandemic initially had a moderate impact on the laryngoscope market. The strict lockdowns and government regulations intended to slow down the spread of COVID-19 resulted in a decline in the number of patients visiting for non-emergency cases. However, COVID-19 primarily affected the respiratory system, leading to an immediate demand for respiratory and vascular access products, including laryngoscopes. Furthermore, several guidelines and reviews, including those from the UK Difficult Airway Society, the Association of Anaesthetists, the Intensive Care Society, and the Royal College of Anaesthetists, have recommended tracheal intubation with a video laryngoscope in preference to a direct laryngoscope for patients with suspected or confirmed COVID-19 who require intubation. Furthermore, the European Resuscitation Council COVID-19 Guidelines for Advanced Life Support in Adults also mentioned in their guidelines recommending video laryngoscopes. These recommendations led to a higher demand for laryngoscopes. Moreover, several international bodies supported healthcare facilities in strengthening the clinical management response for caring for people with severe COVID-19 infection who need intubation. For instance, in January 2021, the PAHO and WHO donated a video laryngoscope to the Karl Heusner Memorial Hospital Authority (KHMHA). Thus, the COVID-19 outbreak affected the market's growth adversely in its preliminary phase; however, the market gained significant traction due to the increased use of laryngoscopes globally.
Further, the increasing prevalence of laryngeal disease and the rise in the use of laryngoscopes in airway management are among the major factors driving the growth of the market studied. In addition, the high rate of smokers among the population and the increasing incidences of laryngeal cancer are also leading to a higher prevalence of the laryngeal disease. Such factors will likely boost the demand for laryngoscopy, thereby contributing to the market's growth.
Some common laryngeal diseases include laryngitis, vocal nodules, vocal polyps, Reinke's edema, and epiglottic cyst, among others. In addition, it has been observed that the prevalence of laryngeal disease is higher in males. Moreover, the American Cancer Society estimates that in 2022, there will be about 12,470 new cases of laryngeal cancer (9,820 in men and 2,650 in women) in the United States. Laryngoscopy takes biopsy samples of the vocal cords or nearby parts of the throat to detect cancer further. Thus, the increasing prevalence of the laryngeal disease is poised to accelerate the laryngoscope market globally and is expected to increase in the future, thereby driving the growth of the market studied over the forecast period.
In addition, new product launches and strategic activities by major players in the market are positively affecting the growth of the market studied. For instance, in May 2021, Penlon Limited launched a new and improved range of laryngoscope blades and handles for use in the MRI suite. Thus, due to the product launches and strategic activities, the market studied is expected to grow significantly over the forecast period.
Therefore, owing to the abovementioned factors, it is anticipated that the market studied will witness growth over the forecast period. However, the injuries associated with the use of laryngoscopes are likely to impede the market's growth.
Laryngoscopes Industry Segmentation
Laryngoscopes are endoscopy devices used for visualization of the vocal cords and placement of the endotracheal tube into the trachea. Laryngoscopy is the procedure that healthcare providers use to examine the larynx. Providers may do laryngoscopies in a clinic office or as surgery in an operating room.
The Laryngoscope Market is Segmented by Type (Fiber Optic Laryngoscope, Video Laryngoscope), Component (Laryngoscope Blades, Handles, Consumables and Accessories), Usability (Disposable, Reusable), End-User (Hospital, Clinics, Ambulatory Surgical Centers, Other End-Users), and Geography (North America (United States, Canada, Mexico), Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific), Middle East and Africa (GCC, South Africa, Rest of Middle East and Africa), and South America (Brazil, Argentina, Rest of South America). The report offers the value (in USD million) for the above segments.
By Type | |
Fiber Optic Laryngoscope | |
Video Laryngoscope |
By Component | |
Laryngoscope Blades | |
Handle | |
Consumables and Accessories |
By Usability | |
Disposable | |
Reusable |
By End-User | |
Hospital | |
Clinics | |
Ambulatory Surgical Centers | |
Other End-Users |
By Geography | ||||||||
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Laryngoscope Market Size Summary
The laryngoscope market is poised for significant growth, driven by the increasing prevalence of laryngeal diseases and the rising use of laryngoscopes in airway management. The market experienced an initial decline due to the COVID-19 pandemic, which led to a decrease in non-emergency patient visits. However, the pandemic also spurred demand for laryngoscopes, particularly video laryngoscopes, as they were recommended for intubating COVID-19 patients. This shift was supported by guidelines from various health organizations, which favored video laryngoscopes for their advantages in visibility and ease of use. The market is further bolstered by the high incidence of laryngeal cancer, particularly among smokers, and the need for biopsy procedures, which laryngoscopes facilitate. New product launches and strategic initiatives by key market players are also contributing to the market's expansion.
The video laryngoscope segment is expected to witness substantial growth due to its innovative features that enhance intubation success rates and reduce the need for specialized expertise. Continuous advancements and product launches, such as those by OmniVision and Ambu, are driving the adoption of video laryngoscopes, particularly in North America. The region's dominance in the market is attributed to its advanced medical infrastructure, high healthcare spending, and the prevalence of laryngeal diseases. The competitive landscape is characterized by the presence of both international and regional players, including Medtronic, Baxter, and Olympus Corporation, who are actively introducing new products to capture market share. Despite the market's fragmentation, these factors collectively indicate a positive growth trajectory for the laryngoscope market over the forecast period.
Laryngoscope Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Laryngeal Disease and Rise in the Use of Laryngoscopes in Airway Management
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1.2.2 Introduction of Technologically Advanced Products
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1.3 Market Restraints
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1.3.1 Injuries Associated with the Use of Laryngoscopes
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value in USD million)
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2.1 By Type
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2.1.1 Fiber Optic Laryngoscope
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2.1.2 Video Laryngoscope
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2.2 By Component
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2.2.1 Laryngoscope Blades
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2.2.2 Handle
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2.2.3 Consumables and Accessories
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2.3 By Usability
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2.3.1 Disposable
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2.3.2 Reusable
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2.4 By End-User
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2.4.1 Hospital
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2.4.2 Clinics
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2.4.3 Ambulatory Surgical Centers
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2.4.4 Other End-Users
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2.5 By Geography
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2.5.1 North America
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2.5.1.1 United States
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2.5.1.2 Canada
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2.5.1.3 Mexico
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2.5.2 Europe
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2.5.2.1 Germany
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2.5.2.2 United Kingdom
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2.5.2.3 France
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2.5.2.4 Italy
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2.5.2.5 Spain
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2.5.2.6 Rest of Europe
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2.5.3 Asia-Pacific
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2.5.3.1 China
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2.5.3.2 Japan
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2.5.3.3 India
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2.5.3.4 Australia
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2.5.3.5 South Korea
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2.5.3.6 Rest of Asia-Pacific
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2.5.4 Middle East and Africa
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2.5.4.1 GCC
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2.5.4.2 South Africa
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2.5.4.3 Rest of Middle East and Africa
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2.5.5 South America
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2.5.5.1 Brazil
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2.5.5.2 Argentina
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2.5.5.3 Rest of South America
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Laryngoscope Market Size FAQs
What is the current Laryngoscope Market size?
The Laryngoscope Market is projected to register a CAGR of 9.40% during the forecast period (2024-2029)
Who are the key players in Laryngoscope Market?
Medtronic, Baxter (Hillrom), Olympus Corporation, Nihon Kohden and Teleflex are the major companies operating in the Laryngoscope Market.