Video Laryngoscope Market Expected to Reach $204.6 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Video Laryngoscope Market," The video laryngoscope market was valued at $123.91 million in 2021, and is estimated to reach $204.6 million by 2031, growing at a CAGR of 5.1% from 2022 to 2031.

Video laryngoscopy is a procedure used to examine the vocal cords, throat, and other laryngeal anatomical aspects. Strobe light is used during laryngoscopy to give the doctor a clearer image and information about the voice box. Typically, tissue removal occurs after anesthetic has been administered. The larynx, upper tracheal rings, and voice cords can all be seen during an indirect laryngoscopy. 

Increase in the prevalence of respiratory disorders fuels market expansion. Due to rapid rise of these diseases, video laryngoscopy is rising in popularity globally. It provides quick and effective treatment for difficult airways. Video laryngoscope market trends for robot-assisted intubation is expected to boost the demand for video laryngoscopes. Owing to developments in intubation, manufacturers have produced cutting-edge technologies that give medical professionals more precision and support. In addition, less surgical complications and quicker recovery associated with the video laryngoscope are also expected to propel the market growth.

Various key market players are expanding their business to generate revenue. For instance, in January 2022, Prodol announced that Mercury Medical will be the exclusive North America distributor partner for its state-of-the-art video laryngoscope product line effective.
Healthcare markets, particularly the video laryngoscope business, have potential in developing nations. As it has largest population share of the world and expanding infrastructure, economies like China and India have a lot of potential for laryngoscopy technology in the future. Conversely lack of skilled professionals is expected to hamper the video laryngoscope market forecast.

The video laryngoscope market analysis is segmented into type, usability and end user. By type, the market is segmented into rigid and flexible. The rigid segment dominated video laryngoscope market share in 2021, owing to increasing product development and spending by market participants. The flexible segment is expected to witness highest CAGR during the forecast period, owing to its benefits over rigid ones. It gives the user the ability to see biopsy tissue, anomalies, or help remove tiny growths like tumors from the area, which promotes growth. 

Depending on usability, the market is divided into reusable and disposable. The reusable segment dominated the video laryngoscope market size in 2021, owing to affecting the purchasing decisions of hospitals and medical personnel. The disposable segment is expected to witness highest CAGR during the forecast period, owing to greater use in pre-hospital settings, reduced expenses associated with reprocessing, and reduced risk of cross-infection.

Depending on end user, the market is divided into hospitals, clinics, and others. The hospitals segment dominated the video laryngoscope market size market in 2021, owing the majority of procedure using video laryngoscope are carried out in hospitals. The clinics segment is expected to witness highest CAGR of during the forecast period owing to its expanded use in cases of emergencies, especially in the ENT clinics.

North America accounted for a majority of the global video laryngoscope market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to technological advancements in video laryngoscope techniques, integration of advanced devices, and presence of key and robust hospital infrastructure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing rise in respiratory diseases patient population, development of healthcare infrastructure, and increase in investments projects in the region.

 Key findings of the study
•    By type, the rigid segment was the highest contributor to the video laryngoscope industry in 2021.
•    By usability, the reusable segment was the highest contributor to the  video laryngoscope industry in 2021.
•    Depending on end user, the hospitals segment was highest contributor in 2021, and is expected to continue this trend during the forecast period.
•    Region wise, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.