Market players are focusing on the growth prospects in the high potential nations.
The global laryngoscopes market is slated to register CAGR of 5% amid the assessment period of 2020-2030. The global market is projected to foresee upsurge in demand primarily due to the growing popularity of video laryngoscopes, consistent improvements by manufacturers and advancement of minimally-invasive devices by governments for laryngeal diseases.
“Owing to rising competition, companies will be focusing more on product launches. In the approaching years prominence on next-gen and low-cost laryngoscopes is thus likely to increase. This will also assist market to recover growth post COVID-19 period.” says an FMI analyst.
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Laryngoscopes Market – Key Highlights
- North America to remain key beneficiary among other regions, due to growing cases of ENT disorders amid geriatric population.
- Reusable usability segment is likely to account for majority of market share in the global market
- Hospitals segment is projected to remain dominant in the foreseeable future.
Laryngoscopes Market – Drivers
- Video laryngoscopy is gaining traction amid consumers due to consistent advancement along with superior services is aiding market growth.
- Launch of advanced laryngoscopes according to physicians need is anticipated to bolster market growth.
- Growing demand for non-invasive devices for the treatment of laryngeal ailments is fueling the market demand.
Laryngoscopes Market – Restraints
Higher cost associated with the video laryngoscopes is limiting their adoption, thus hampering the growth during the forecast period.
Absence of skilled operators is likely to constraint expansion of the market.
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COVID-19 Impact on the Market
The demand for laryngoscopes witnessed a downtrend owing to the ongoing COVID-19 outbreak inflicted shortage of manpower and resources. However, the market is likley to bounce back following the outbreak due to growing need for non-invasive throat treatments. Increased awareness about hygiene because of the outbreak is further projected to boost demand. The market will witness a positive growth trajectory from 2021.
Competitive Landscape
Leading players in the laryngoscopes market are Flexicare Medical, KARL STORZ GmbH & Co., Penlon Limited, NOVAMED USA, Rudolf Riester GmbH, Ambu A/S, Clarus Medical LLC, Medtronic plc., Propper Manufacturing Co. Inc., BOMImed, Verathon Inc., Teleflex Incorporated, Venner Medical (Germany) GmbH and Medtronic. Market players are engaged in strategic partnerships and collaboration with various other players to extend their product portfolio.
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About the Study
The study offers readers a comprehensive assessment of the Laryngoscopes market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of product type (rigid laryngoscopes and flexible laryngoscopes{video laryngoscopes and fiber laryngoscopes}), end user (hospitals, ambulatory surgery centers and specialty clinics), usability (reusable and disposable), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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