The Global Laryngoscopes Industry is poised for a bright future, propelled by the increasing demand for these vital medical instruments and continuous technological advancements. According to a recent analysis by Future Market Insights (FMI), a leading market research firm, the market is projected to experience a steady Compound Annual Growth Rate (CAGR) of 5.4% from 2023 to 2033. This translates to a significant market expansion, with the value expected to climb from US$355.1 million in 2023 to a staggering US$601.6 million by 2033.
This exceptional growth trajectory is fueled by a confluence of factors, including groundbreaking advancements in medical technology, an escalating prevalence of respiratory disorders, and a heightened emphasis on early diagnosis and treatment. At the heart of these developments, the laryngoscope market emerges as a crucial component in airway management and diagnostics, poised to play a pivotal role in elevating patient care and medical interventions.
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Key Takeaways from the Global Laryngoscopes Industry Report
- The Global Laryngoscopes Industry to exhibit surging sales as demand rises due to the increasing incidence of vocal or throat-related diseases
- Increasing caution regarding hygiene has resulted in doctors adopting laryngoscopes 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
COVID-19 Impact Analysis
Many industries have been affected by the COVID-19 pandemic, including the laryngoscope market. Production of laryngoscopes has decreased as a result of lockdowns and a travel ban. Despite the health sector’s demand for laryngoscopes, production has been slowed by a lack of resources and labor.
Following the pandemic, the market is anticipated to recover due to rising demand for non-invasive throat treatments. The pandemic’s increased focus on hygiene is also anticipated to increase demand for laryngoscopes. Starting in 2021, the market is anticipated to follow a positive trajectory.
Who Is Winning?
A small number of significant market players primarily control the Global Laryngoscopes Industry. Opportunities for the entry of new players in the market have been created by rising demand and advantageous governmental policies. Players are now looking to partner with various businesses to expand their growth.
The players’ attention has shifted to creating and innovating designs that improve comfort and safety. To correct flaws and errors in current laryngoscopes, important players are now involved in their development. As a result, there is now more competition among manufacturers to produce laryngoscopes that are better and more effective.
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 are a few of the leading companies in the Global Laryngoscopes Industry.
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Key Segments of Global Laryngoscopes Industry Survey
Global Laryngoscopes Industry by Product:
- Rigid Laryngoscopes
- Flexible Laryngoscopes
- Video Laryngoscopes
- Fiber Laryngoscopes
Global Laryngoscopes Industry by End User:
- Hospitals
- Ambulatory Surgery Centers
- Specialty Clinics
Global Laryngoscopes Industry by Usability:
- Reusable Laryngoscopes
- Disposable Laryngoscopes
Global Laryngoscopes Industry by Region:
- North America Laryngoscopes Market
- Latin America Laryngoscopes Market
- Europe Laryngoscopes Market
- East Asia Laryngoscopes Market
- South Asia & Pacific Laryngoscopes Market
- Middle East & Africa (MEA) Laryngoscopes Market
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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