Market Trends of Laryngoscope Industry
This section covers the major market trends shaping the Laryngoscope Market according to our research experts:
Video Laryngoscope Segment is Expected to Witness Growth Over the Forecast Period
Video laryngoscope is considered a very innovative advancement in laryngoscopy as it offers various advantages to the operator by allowing him to see what is not within his direct line of sight. Tracheal intubation by video laryngoscope is increasingly being adopted compared to a conventional laryngoscope. In addition, video laryngoscopes also benefit from laryngoscopists requiring less expertise than fiber optic laryngoscopes. Moreover, it also creates an opportunity for remote supervision, which may be helpful for under-resourced hospitals and during prehospital emergency airway management. Hence, owing to the advantages of video laryngoscopes, the demand for these products is likely to increase among physicians, ultimately driving the growth of this market segment.
In addition, according to the Cochrane Collaboration study published in 2022, video laryngoscope probably reduces the number of failed intubations compared to the traditional Macintosh laryngoscope. All video laryngoscopes may also increase the chances of being successfully intubated on the first attempt and improve the view of the vocal cords. Thus, the various benefits that video laryngoscopes offer create opportunities for future growth of the segment.
Furthermore, continuous product launches by major players in the market are positively affecting the segment's growth. For instance, in April 2022, OmniVision, a leading global developer of semiconductor solutions, launched a new laryngoscope reference design that included a range of OmniVision products for single-use video laryngoscopes. This is anticipated to help medical device OEMs speed time-to-market in developing laryngoscopes.
Therefore, the video laryngoscope segment is expected to witness significant growth over the forecast period due to the abovementioned factors.
North America is Expected to Dominate the Laryngoscope Market
North America is expected to dominate the market owing to factors such as the easy availability of technologically advanced products, high medical spending, well-developed medical infrastructure, and the high prevalence of laryngeal disease in the region. For instance, an estimated 7,400 people in Canada were diagnosed with head and neck cancers in 2021. Moreover, an increase in the usage of video laryngoscopes for effective results in the United States is among the key factors contributing to the growth of the market studied in North America.
Key product launches, the high concentration of market players, and the manufacturer's presence in the United States are some of the factors driving the growth of the laryngoscope market in the country. For instance, in May 2022, Ambu launched its Ambu aView 2 Advance Display Unit for use with endoscopes in Europe and the United States. The Ambu aView 2 Advance can be used with Ambu's bronchoscope, rhinolaryngoscope, or cystoscope while offering the option to transfer recorded data to the hospital's electronic health records. These continuous product launches in the region are anticipated to drive the growth of the market in the country.
Therefore, owing to the aforementioned factors, the market's growth is anticipated in the North American region.
