Laryngoscopes Market is poised to grow at a CAGR of 5.4% by 2033, The rise in the use of laryngoscopes in airway management driving the laryngoscope industry growth Says Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
6 min read
Future Market Insights Global and Consulting Pvt. Ltd.
The increasing effectiveness of video laryngoscopes is creating lucrative opportunities for providers of these devices in the high-income market. Chinese laryngoscopy market is anticipated to reach a value of US$ 58.5 million by 2033. Flexible laryngoscopes are expected to lead the product type category with a CAGR of 5.7% between 2023 and 2033
DUBAI, United Arab Emirates, March 30, 2023 (GLOBE NEWSWIRE) -- The Laryngoscopes Market is expected to thrive at a CAGR of 5.4% between 2023 and 2033. The market is anticipated to cross a market share of US$ 601.6 million by 2033 while it is likely to be valued at US$ 355.1 million in 2023.
The higher demand for advanced flexible video laryngoscopes coupled with the increased government budget for healthcare diagnostics is garnering the sales of Laryngoscopes solutions.
Increasing chronic patients such as patients suffering from cancer and other respiratory or throat-related diseases are garnering market growth.
Private healthcare systems adopting disease-specific Laryngoscopes solutions along with the expanding healthcare infrastructure in Asian Economies such as India and China drive the market.
With the growing health awareness, end users go through several tests that include different ENT tests. Furthermore, expanding research facilities are thriving in the sales of Laryngoscopes solutions.
The United States is likely to lead the Laryngoscopes market in terms of market share. The market is expected to thrive at a leading CAGR of 5.6% between 2023 and 2033. The market growth is attributed to rapidly growing cases of throat cancer and other respiratory diseases. The regional market is likely to cross a value of US$ 199.2 million by 2033.
The China Laryngoscopes market is leading the Laryngoscopes market in terms of CAGR. The regional growth is attributed to the increase in private hospitals and diagnostic centers. Also, the booming healthcare infrastructure is flourishing the sales of Laryngoscopes solutions in the region. The regional market is anticipated to thrive at a CAGR of 8.2% during the forecast period while it is expected to hold a value of US$ 58.5 million by 2033.
The flexible Laryngoscopes segment is likely to thrive in the product size category as it strives at a CAGR of 5.7% during the forecast period. The growth is attributed to factors like acute imaging and better diagnosis.
The hospital segment is expected to top the end-user category as it thrives at a CAGR of 5.4% between 2023 and 2033.
Competitive Landscape
The key vendors focus on experimenting with newer technology such as Artificial Intelligence and high-end camera settings. Furthermore, technological integration with machine learning and robotics are some elements on which vendors focus the most. Key competitors also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players in the market are KARL STORZ GmbH & Co, Flexicare Medical, NOVAMED USA, Penlon Limited, Ambu A/S, Rudolf Riester GmbH, Medtronic plc., Clarus Medical LLC, BOMImed, Propper Manufacturing Co. Inc., Teleflex Incorporated, Verathon Inc, Venner Medical (Germany) GmbH.
Rudolf Riester GmbH has introduced different types of laryngoscopes like ri-integral, ri-modul, and ri-dispo (Disposable). Other than this, the laryngoscopes include fiberoptic, standard, and disposable laryngoscopes with LED/Li-ion technology.
Teleflex Incorporated has developed its Rusch Polaris single-use fiber optic laryngoscope blades. These blades are of wide range and come with a low-profile blade design. The finishing used on the blade is matte so that it can reduce the light reflection.
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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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