In 2021, the market for Video Laryngoscope worldwide was worth $0.43 billion US dollars. AMR Group projects that the market will reach US$ 1.5 billion by 2031, growing at a CAGR of 18.6 percent between 2022 and 2031.
Industry Overview
A video laryngoscope is a medical device that is used to examine the larynx (voice box) and perform endotracheal intubation (inserting a breathing tube into the windpipe) in patients who require assisted ventilation or general anesthesia. It consists of a camera, light source, and a screen, which allows the operator to visualize the larynx on the monitor instead of directly visualizing it with the naked eye. Video laryngoscopes are widely used in emergency medicine, critical care, and anesthesia settings. They are particularly useful in patients with difficult airways, where traditional laryngoscopy may not be feasible due to anatomical abnormalities, swelling, or bleeding. The device provides a clear view of the larynx and improves the success rate of intubation, thereby reducing the risk of complications such as hypoxia (low oxygen levels), hypotension (low blood pressure), and cardiac arrest.
Market Dynamics
The global video laryngoscope market is expected to grow significantly over the forecast period due to several market dynamics, including: The rising incidence of respiratory disorders, such as chronic obstructive pulmonary disease (COPD), asthma, and lung cancer, is driving the demand for video laryngoscopes. These devices are used to assist in airway management during emergency procedures and surgeries. Technological advancements in video laryngoscopes, such as the development of portable and handheld devices, have led to increased adoption of the product. Moreover, the integration of features such as wireless connectivity, high-resolution screens, and recording capabilities have improved the accuracy of diagnosis and treatment. The preference for minimally invasive procedures is increasing, as they offer several benefits such as reduced blood loss, less postoperative pain, and shorter recovery time. Video laryngoscopes are minimally invasive devices that allow physicians to visualize the larynx without the need for direct laryngoscopy, making it a preferred option for many clinicians. The rise in healthcare expenditure globally is driving the demand for video laryngoscopes. Governments in various countries are investing heavily in healthcare infrastructure, which is expected to drive the demand for these devices. There is a shortage of skilled anesthesiologists globally, which is leading to the increased adoption of video laryngoscopes as they can be used by non-specialists with minimal training. This factor is expected to contribute to the growth of the market. Overall, the market for video laryngoscopes is expected to grow in the coming years due to the aforementioned factors, which will lead to an increased demand for the product.
COVID Impact
The COVID-19 pandemic has had a significant impact on the global video laryngoscope market. The pandemic has led to an increase in the number of critically ill patients who require intubation, which has resulted in a surge in demand for video laryngoscopes. This demand has been driven by the need for healthcare professionals to maintain social distancing and reduce the risk of infection transmission during intubation procedures. Moreover, the COVID-19 pandemic has led to the implementation of new guidelines and protocols for airway management in patients with suspected or confirmed COVID-19 infection. These guidelines emphasize the use of video laryngoscopes to minimize the risk of aerosol generation and transmission during intubation. This has led to an increased demand for video laryngoscopes with features such as disposable blades and handles, which can reduce the risk of cross-contamination. On the other hand, the COVID-19 pandemic has also disrupted the supply chain and manufacturing operations of video laryngoscopes, leading to shortages in some regions. The pandemic has also led to a decrease in elective surgeries, which has resulted in a decline in demand for video laryngoscopes in non-emergency settings. Overall, the impact of COVID-19 on the video laryngoscope market has been mixed, with an increase in demand due to the pandemic-driven need for airway management in critically ill patients, but also with disruptions to the supply chain and manufacturing operations.
Regional Trend
The video laryngoscope market is analyzed on a global scale, with major regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America is expected to dominate the video laryngoscope market due to factors such as the presence of major manufacturers, high adoption of advanced medical technologies, and a well-established healthcare infrastructure. The United States is the largest market for video laryngoscopes in North America, driven by a high incidence of respiratory diseases and a large geriatric population.
The Asia-Pacific region is expected to witness significant growth in the video laryngoscope market due to factors such as increasing healthcare expenditure, rising adoption of advanced medical technologies, and a large patient pool. China, India, and Japan are major markets in the Asia-Pacific region, driven by high prevalence of respiratory diseases, increasing geriatric population, and growing healthcare infrastructure. Europe is expected to be a significant market for video laryngoscopes due to the presence of well-established healthcare infrastructure, increasing demand for minimally invasive surgeries, and rising adoption of advanced medical technologies. Germany, France, and the United Kingdom are major markets in the region. Latin America and the Middle East and Africa are expected to witness moderate growth in the video laryngoscope market due to factors such as increasing healthcare expenditure, growing medical tourism, and rising awareness about advanced medical technologies. Brazil and Mexico are major markets in Latin America, while the Middle East and Africa region is driven by countries such as Saudi Arabia, UAE, and South Africa.
Competitive Landscape
The global video laryngoscope market is highly competitive and fragmented, with a large number of players operating in the market. Some of the major players in the market include:
Medtronic Plc
Karl Storz GmbH & Co. KG
Ambu A/S
Verathon Inc.
Teleflex Incorporated
Vyaire Medical Inc.
Clarus Medical LLC
SunMed LLC
Intersurgical Ltd.
Hillrom Inc.
These companies are focusing on strategies such as mergers and acquisitions, partnerships, collaborations, and new product launches to strengthen their market position. For instance, in August 2021, Medtronic Plc announced the launch of its new McGRATH MAC 3 single-use video laryngoscope in Europe, expanding its portfolio of airway management devices. Other key players in the market include King Systems, Flexicare Medical Limited, HEINE Optotechnik GmbH & Co. KG, Propper Manufacturing Co. Inc., and OBP Medical Corporation, among others. These companies are also adopting various strategies to expand their market presence, such as investing in R&D activities and expanding their distribution networks.
Market Segmentation
The global video laryngoscope market can be segmented based on product type, end-user, and geography.
By product type, the market can be segmented into:
Rigid video laryngoscopes
Flexible video laryngoscopes
Integrated video laryngoscopes
By end-user, the market can be segmented into:
Hospitals
Ambulatory surgical centers
Clinics
Emergency medical services
Overall, the market segmentation allows for a better understanding of the market trends and provides insights into the factors driving the growth of the video laryngoscope market.
Base Year: 2023
Historic Year: 2016-2022
Forecast: 2024-2035