How Will The Laryngoscope Market Grow In 2022?
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The laryngoscope market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 10%, as per The Business Research Company’s market report!
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The Laryngoscope Market Size In 2022 And Forecast
The global laryngoscope market is expected to grow from $0.23 billion in 2021 to $0.25 billion in 2022 at a compound annual growth rate (CAGR) of 10.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The laryngoscope market is expected to grow to $0.38 billion in 2026 at a CAGR of 10.6%.
The laryngoscope market consists of sales of laryngoscopes and related services by entities (organizations, sole traders, and partnerships) that manufacture laryngoscopes.
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Growth In Prevalence Of Laryngeal Cancers, Infections, And Chronic Respiratory Diseases Is Driving The Growth Of The Laryngoscope Market
In 2019, there were 88,878 male deaths and 13,762 female deaths worldwide from larynx cancer. Moreover, in 2020, in the United States, there were 12,370 new cases and 3,750 deaths from laryngeal cancer. Therefore, the increasing prevalence of laryngeal cancer increased the demand for laryngoscopes and thereby contributed to market growth.
Competitive Landscape And The Regional Analysis Of The Laryngoscope Market
Major players in the laryngoscope market Ambu, Hill-Rom Holdings, Inc, KARL STORZ, Medtronic, Olympus, HOYA, Roper Technologies, Inc. (Verathon, Inc.), Richard Wolf GmbH, Schoelly Fiberoptic GmbH, and Welch Allyn Inc.
Additionally, as per TBRC’s research – Asia Pacific was the largest region in the laryngoscope market in 2021 holding the largest market share.
The Laryngoscope Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the laryngoscope market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the laryngoscope market.
Robot-Assisted Laryngoscopy – A Key Trend In The Laryngoscope Market
Growing complications or risks associated with advanced and experimental procedures contribute to increased demand for robot-assisted laryngoscopy. The characteristics of robot-assisted devices such as reliability will increase precision levels and have near-absolute geometric accuracy, which helps to reduce the workload of the specialists and improve patient care. Implementing robotic systems leads to faster skill development than manual procedures, and also improves performance and safety.
Laryngoscope Market Segmentation By The Business Research Company
1) By Type: Indirect Laryngoscope, Direct Laryngoscope
2) By Product: Video Laryngoscopes, Standard Laryngoscopes, Fiber-optic Laryngoscopes
3) By End-user: Hospitals, Clinics, Medical Examination Center
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