BANGALORE, India , Dec. 17, 2021 /PRNewswire/ -- Laryngoscope Market segmented By Type - Xenon, LED, Others, Market By Application - Hospital, Clinic. Global Opportunity Analysis and Industry Forecast 2021 - 2027. It is published in Valuates Reports under the Medical Devices & Equipment Category.
In 2020, the global Laryngoscope market size was USD 147.8 million and it is expected to reach USD 192.8 million by the end of 2027, with a CAGR of 3.9% during 2021-2027.
Major Factors Driving The Growth Of The Laryngoscope Market Are:
The global laryngoscopes market is driven by rising demand for non-invasive procedures, increased awareness among healthcare professionals about the benefits of video laryngoscopes, and an increase in the global elderly population.
Other factors such as the rising prevalence of laryngeal malignancies, infections, and chronic respiratory disorders are expected to further propel the growth of the laryngoscope market.
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TRENDS INFLUENCING THE GROWTH OF THE LARYNGOSCOPE MARKET:
The laryngoscopes market is experiencing substantial growth, owing to the rising demand for minimally invasive devices for laryngeal disorders such as vocal cords or throat tumor therapy. These procedures promote shorter hospital stays, increasing cost savings in healthcare. As a result, governments all over the world are supporting the use of non-invasive and minimally invasive procedures as part of their value-based healthcare strategies. In addition, producers are concentrating their efforts on developing technologically sophisticated multifunctional laryngoscopes. This has resulted in an increase in research and development (R&D) activities, which is projected to contribute to the growth of the laryngoscope market.
The laryngoscope is a minimal invasive medical procedure. The term minimally invasive refers to procedures that provide the least amount of trauma or stress to the body. All surgery, by definition, is invasive in some way. The body does not have to recuperate from the huge incisions associated with open surgery with minimally invasive operations. This implies that patients recover faster, have less discomfort, and are able to return home sooner. Patients are less likely to require pain medication during recovery since these operations are associated with reduced pain. This advantage offered by minimal invasive procedure is expected to drive the growth of the laryngoscope market.
Players are expanding their investments in low-cost new-generation product development. In addition, the growing use of video laryngoscopes and the development of disposable blade laryngoscopes to avoid cross-contamination are two key trends expected to boost the laryngoscope market during the forecast period.
There is a growing demand for robot-assisted laryngoscopy majorly due to increased complications or dangers connected with advanced and experimental procedures. The qualities of robot-assisted devices, such as reliability, will boost precision levels and have near-absolute geometric accuracy, reducing specialist workload and improving patient care. Robotic technologies improve performance and safety while also allowing for faster skill development than manual operations. This trend is in turn expected to create lucrative growth opportunities for the laryngoscope market players.
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Based on region, Europe is expected to hold the largest Laryngoscope market share of about 52%. Europe is closely followed by North America with a 36% market share.
Based on end-users, the hospital's segment is expected to be the most lucrative. The growing emphasis on healthcare is leading to an increase in the number of hospitals and the expansion of existing ones.
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TOP COMPANIES IN THE LARYNGOSCOPE MARKET
The top three companies controlled around 36% of the market share. Some of the companies that are discussed in this report are:
Richard Wolf GmbH, Schoelly Fiberoptic GmbH, Welch Allyn, Inc, HOYA, Timesco Healthcare Ltd, Truphatek International Ltd, GIMMI GmbH, XION GmbH, Olympus, HEINE OPTOTECHNIK GmbH & Co. KG, Zhejiang Tiansong Medical Instrument, Shenda Endoscope, China Hawk , Kangji Medical, Zhejiang Sujia, etc.
HEINE OPTOTECHNIK GmbH & Co. KG
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