Laryngoscopes Market Gains Impetus from Launch of Next-generation and Cost-effective Devices: FMI
The demand for laryngoscopes is rising in response to the increasing incidence prevalence of laryngeal diseases such as laryngitis, larynx cancer, and diseases affecting vocal nodules. According to a new study by Future Market Insights (FMI), the laryngoscopes market is likely to rise at above 5% CAGR between 2020 and 2030. Laryngoscopes help in the insertion of tubes like endotracheal tube and gastric tube. They are used to examine the back of the throat to collect samples as well as help in the indirect visualization process of the vocal chords and surrounding areas.
A recent market study published by Future Market Insights (FMI) on the Laryngoscopes marke...
The rising demand for non-invasive devices for the treatment of laryngeal diseases is driving the laryngoscopes market. Increasing number of doctors and medical professionals are now opting to follow laryngoscopy due to its effectiveness. FMI forecasts this to rise consistently over the course of the forecast period.
Key Takeaways from Laryngoscopes Market Report
- The laryngoscopes market to exhibit surging sales as demand rises due to the increasing incidence of vocal or throat related diseases
- Increasing caution regarding hygiene have resulted in doctors adopting laryngoscopes in order 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
"As a result of growing competition market players are expected to focus more on product launches. In the coming years emphasis on low-cost and next-generation laryngoscopes is therefore expected to rise. This will also help market recover growth during the post COVID-19 period," says an FMI analyst.
COVID-19 Impact Analysis
The COVID-19 pandemic has disrupted a lot of industries, including the laryngoscopes market. Implementation of lockdowns and ban on transportation have declined production of laryngoscopes. While there has been demand for laryngoscopes from the health industry, shortage of manpower as well as resources have slowed down production.
The market is expected to bounce back following the pandemic due to increasing demand for non-invasive throat treatments. Heightened awareness regarding hygiene due to the pandemic is also expected to boost demand for laryngoscopes. The market is expected to travel at a positive trajectory from 2021.
Who Is Winning?
The laryngoscopes market is mainly dominated by a few key players in the market. Increasing demand and favorable government policies have created opportunities for the entry of new players in the market. Players are now seeking to expand their growth by collaborating and partnering with different companies.
Players have shifted their focus to develop and innovate desgins that ensure better safety and comfort. Key players are now involved in developing laryngoscopes to correct existing errors and deficiencies. This has increased competition among the players to create better and more efficient laryngoscopes.
Some of the key players in the laryngoscopes market are 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.
Valuable Insights into The Laryngoscopes Market Report
A recent report by Future Market Insights (FMI) has presented a detailed analysis on the laryngoscopes market along with assessment for the years 2020-2030. In order to ensure a better understanding, the market has been divided into several segments.
The market has been divided based on the product type into rigid laryngoscopes and flexible laryngoscopes. Flexible laryngoscopes are further segmented into video laryngoscopes and fiber laryngoscopes. Video laryngoscopes display more demand due to their noninvasive nature. Based on the end user, the market is divided into hospitals, ambulatory surgery centers and specialty clinics.
On the basis of usability, the market is divided into reusable and disposable. Reusable laryngoscopes display greater lifecycle, making it a cost efficient choice in the longer run. Due to this, reusable segment dominated the usability segment.The market is divided based on the geographical location into North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa.
About the Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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