Laryngoscopes Market revenue to cross USD 1.4 billion by 2030, Says Global Market Insights Inc.

Laryngoscopes Industry is anticipated to register 8.1% CAGR between 2022 and 2030 due to Increasing preference for video laryngoscopy with availability of advanced devices.

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Selbyville, Delaware, May 24, 2022 (GLOBE NEWSWIRE) --

The laryngoscopes market value is projected to reach USD 1.4 billion by 2030, according to a new research report by Global Market Insights Inc. Continuous technological advancements coupled high investment in R&D activities will fuel the market progression.

Continuous advancements in laryngoscopes offering higher durability, enhanced comfort, improved technologies, ease of use and increased efficiency is predicted to impel the market demand. Moreover, numerous key market players are proactively involved in research and development activities to cater novel technologies that aims to enhance the diagnostic efficiency and improve patient care. This device may reduce the exposure to aerosolized particles. Such technological advancements in laryngoscopes will lead to product adoption and accessibility.

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Laryngoscopes market from standard/conventional laryngoscopes segment has held around 25% revenue share in 2021 and is set to register a significant CAGR through 2030. High adoption of standard laryngoscope devices among low income and middle-income economies owing to affordable cost and ease of use is expected to drive the business landscape. Moreover, wide range of product offerings, broader availability of laryngoscopes will strengthen the segment growth potential. Furthermore, rapid surge in aging population that are highly susceptible to several chronic respiratory diseases and rising awareness about minimally invasive procedures for disease management will spur the industry statistics.

Some major findings of the laryngoscopes market report include:

  • Rising prevalence rate of laryngeal diseases across the world will accelerate the industry trends.
  • Increasing patient preference towards minimally invasive procedures is expected to impel the demand for laryngoscopes.
  • Growing awareness initiatives regarding airway diseases to broaden accessibility for advanced diagnostics in developing countries will augment the industry scenario.
  • Increasing healthcare expenditure and expanding sophisticated healthcare infrastructure will propel the market revenue.
  • The COVID-19 outbreak has positively influenced the demand for laryngoscopes owing to rapid upsurge in patient cases suffering from respiratory diseases.

Browse key industry insights spread across 150 pages with 163 market data tables & 13 figures & charts from the report, “Laryngoscopes Market Analysis By Product (Video Laryngoscopes, Fiber Optic Laryngoscopes, Standard/Conventional Laryngoscopes), By Usability (Single-use, Reusable), By End-Use (Hospitals, Specialty clinics), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents: 

Laryngoscopes market from single use segment exceeded USD 280 million in 2021. The segment growth is attributable to increasing demand for technologically sophisticated multifunctional laryngoscopes. Moreover, key market participants are actively engaged in R&D activities for development and launches of low-cost novel equipment will foster the segment share. For instance, in April 2022, OMNIVISION has launched ready to go laryngoscope reference designs that offers high quality video for single use laryngoscopes. This will strengthen company’s product portfolio. Increase in usage of disposable blade laryngoscopes to minimize cross contamination will boost the market forecasts.

Others segment is estimated to grow at 7.4% CAGR during the projected timeline owing to growing patient preference for outpatient facilities. Moreover, enhanced availability and accessibility of advanced technologies will propel the market expansion. Additionally, expanding network of well-equipped healthcare facilities such as ambulatory surgical centers and diagnostic centers to cater large patient base among developing countries will proliferate the business growth.

Asia Pacific laryngoscopes market is anticipated to cross USD 360 million by 2030. Growing investment in R&D activities by several manufacturers and increasing prevalence of several respiratory diseases are the key factors accelerating the regional industry demand. Moreover, high geriatric population base that are highly prone to numerous respiratory disorders will further positively influence the regional market statistics. Moreover, patients inclination towards minimally invasive surgeries with growing awareness in the APAC market will enhance the regional industry outlook.

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Key market players involved in laryngoscopes industry include KARL STORZ GmbH & Co, Ambu A/S, Medtronic plc, Flexicare Medical, Penlon Limited, Rudolf Riester GmbH, Propper Manufacturing Co. Inc., Teleflex Incorporated, Verathon Inc, Venner Medical, and Olympus Corporation.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.