Global Laryngoscope Market Trends And Strategies Of Major Players In The Laryngoscope Market 2020
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The global laryngoscope market is expected to decline from $141.19 million in 2019 to $131.89 million in 2020 at a compound annual growth rate (CAGR) of -6.58%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $154.57 million in 2023 at a CAGR of 5.43%. The growing prevalence of laryngeal cancers, infections and chronic respiratory diseases is one of the key reasons expected to boost laryngoscope market growth.
The laryngoscope market consists of sales of laryngoscopes and related services by entities (organizations, sole traders and partnerships) that manufacture laryngoscopes. A laryngoscope is a medical device used to view and examine the larynx and vocal cords in the throat. This device is also used during tracheal intubation in patients requiring ventilator support. Only goods and services traded between entities or sold to end consumers are included.
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The Global Laryngoscope Market is further segmented based on type, product, end-user and geography.
By Type: Indirect Laryngoscope, Direct Laryngoscope.
By Product: Video Laryngoscopes, Standard Laryngoscopes, Fiber-optic Laryngoscopes.
By End-user: Hospitals, Clinics, Medical Examination Center
By Geography: The global laryngoscope market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American laryngoscope market was the largest region in the global laryngoscope market 2019.
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Trends In The Laryngoscope Market
Robot-assisted laryngoscopy is one of the key trends shaping 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 Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides laryngoscope market overviews, analyzes and forecasts market size and growth for the global laryngoscope market, laryngoscope market share, laryngoscope market players, laryngoscope market segments and geographies, laryngoscope market’s leading competitors’ revenues, profiles and market shares. The laryngoscope market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.