Pune, 22, Nov, 2022: Maximize Market Research has recently released a new research study titled Video Laryngoscope Market Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2029”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios. The market is expected to grow from USD 259.2 million in 2021 to USD 974.5 million in 2029, at a CAGR of 18 percent for the forecast period from 2022 to 2029.
Video Laryngoscope Market Scope and Research Methodology
The video laryngoscope market report looks into current trends and market highlights to help clients explore opportunities and develop market strategies. The goods and services, revenue, financial status, portfolio, growth strategies, and regional presence of key market participants and new entrants are all investigated. Recent acquisitions and mergers, as well as company strategic stances and joint alliance information, paint a clear picture of the video laryngoscope market’s competitive landscape. To comprehend the video laryngoscope market’s products and services, a segment-by-segment analysis by Product and Indication is performed, complete with market-influencing factors and current technological changes and innovations. The report also goes into great detail about the Video Laryngoscope Market’s drivers, challenges, restraints, and challenges. Market participants and new entrants can use regional market analysis to develop pricing and marketing strategies at the local, regional, and global levels.
For market estimation and global market trend analysis, a bottom-up approach was used. Data was collected from a large sample using both primary and secondary research methods in order to obtain accurate inferences. Among the primary methods used were surveys, questionnaire administration, and phone interviews with industry experts, market leaders, entrepreneurs, and marketing professionals. To ensure the accuracy of the conclusions, secondary data was meticulously gathered from a carefully selected set of sources. Official databases of various organizations and government websites, industry journals, white papers, annual reports, product manufacturer and supplier releases, and paid databases are a few examples. PESTLE was used to understand various market factors, while SWOT analysis was used to understand key companies’ strengths and weaknesses. As a result, the report provides a thorough examination of the Video Laryngoscope Market.
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Video Laryngoscope Market Overview
VLs and OSs are rigid instruments that allow for indirect laryngoscopy, or the visualization of the vocal cords and related airway structures without a direct line of sight. Video laryngoscopes have quickly gained popularity as intubation devices in a variety of clinical scenarios and settings, and in the hands of both airway experts and non-experts. Their indirect view of the upper airway improves glottic visualisation, which is especially useful when a difficult intubation is suspected or witnessed.
Endotracheal intubations using a video laryngoscope were more successful and took less time than traditional direct laryngoscope intubations. This, along with the rising prevalence of obesity in the population and rising inpatient admissions in hospital emergency departments, are some of the major factors expected to drive the video laryngoscope market for endotracheal intubations during the forecast period.
Video Laryngoscope Market Dynamics
The growing awareness of the benefits of using video laryngoscopes over traditional ones is a major factor driving the growth of the video laryngoscope market. Reduced applied force, improved laryngeal view, visual confirmation of tube placement, lower risk of cross-contamination, and higher rates of successful rescue after direct laryngoscopy failure are just a few of the benefits. Video laryngoscopy has emerged as a viable option for ventilated patients’ intubation. A video laryngoscope also reduces intubation errors and improves feedback, learning, and teaching. It also keeps the faces of healthcare technicians away from the patient’s airways, reducing the risk of contamination. Nihon Kohden began ramping up production of ventilators and airway management devices in 2020 to meet rising demand. Furthermore, Medtronic reported positive growth in 2020 due to increased demand for airway products and ventilators. As a result, the pandemic benefits the video laryngoscope market.
The rising prevalence of respiratory diseases is also driving the video laryngoscope market. As of 2019, the WHO estimates that approximately 65.0 million people have COPD, and 3 million people die each year from lung-related diseases. As the target population grows, so will exposure to tobacco smoke and pollution. These factors will propel the video laryngoscope market forward. Furthermore, the increased use of airway management in pediatrics is driving up revenue. Failures in direct laryngoscope intubation are becoming more common, resulting in serious conditions such as dental damage, laryngeal spasm, bronchospasm, dysrhythmias, cardiac arrest, brain damage, or even death. As a result, new laryngoscopes with visualization capabilities are being used in healthcare devices all over the world to prevent these conditions. As a result, doctors prefer video laryngoscopes, which drives the video laryngoscope market.
Video Laryngoscope Market Regional Insights
North America dominated the video laryngoscope market in 2020, accounting for more than 40% of total revenue. The high prevalence of respiratory disorders in both adults and children can be attributed to the rise. Furthermore, the market is expected to be driven by an increase in air pollution and tobacco smoke exposure, which causes respiratory disorders. The presence of strict practice guidelines developed by the American Society of Anaesthesiologists (ASA) and other healthcare organizations, as well as growing government initiatives in the region, are expected to drive market growth for video laryngoscopes. During the forecast period, Asia Pacific is expected to grow at the fastest rate. It is due to the region’s high disease burden, significant unmet patient needs, frequent infrastructural and technological advancements in the medical device Device Type, and an increase in healthcare expenditure. According to a WHO report, the increase in morbidity and mortality rates due to COPD is most pronounced in the Asian region, where the prevalence rate of COPD in 2019 is around 8.5%.
Video Laryngoscope Market Segmentation
By Product
By Usage
By Channel Type
By Device Type
By End-use
Video Laryngoscope Market Key Competitors:
Key questions answered in the Video Laryngoscope Market are:
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Key Offerings:
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