by The global laryngoscopes market is poised for significant growth in the short term, driven by a range of factors, according to a comprehensive report on the industry. The report provides valuable insights into the expected trajectory of market expansion over the next few years.
Additional Benefits over Direct Laryngoscopy Devices to Fuel Growth of Laryngoscopes Market
Laryngoscopes, a crucial diagnostic medical instrument used by physicians and doctors, play a pivotal role in examining the pharynx and larynx–the regions behind the nose and mouth, and the voice box, respectively. These devices are indispensable in diagnosing voice or throat issues, obtaining biopsies, and addressing various laryngeal problems. Direct laryngoscope intubation failure has been associated with severe complications, including tooth damage, laryngeal spasm, and cardiac arrest. To mitigate these risks, healthcare settings worldwide are increasingly adopting modern laryngoscopes equipped with advanced imaging capabilities, propelling the global laryngoscopes market forward.
A recent survey conducted by the American Society of Anesthesiologists underscores the transformative impact of video laryngoscopes. Over a 14-year period (2006-2020), the use of video laryngoscopes led to a significant reduction in challenging and difficult intubations across various healthcare settings in the United States. Furthermore, innovative products introduced by market participants, coupled with a growing body of research demonstrating the safety and effectiveness of these devices compared to direct laryngoscopy techniques, are driving global adoption. The markets growth is further accelerated by the advent of entirely disposable devices like I-view by Intersurgical Ltd., offering integrated video displays as a convenient alternative to cart-based technologies.
Respiratory Disorders and Pediatric Airway Control Drive Demand
The rising incidence of respiratory disorders, including Chronic Obstructive Pulmonary Disease (COPD), is another significant growth driver. According to the World Health Organization (WHO), approximately 3 million people die each year from lung-related illnesses. Factors such as a growing target population, increased exposure to cigarette smoke, and rising pollution levels are expected to contribute to the growing demand for video laryngoscopes, especially in addressing respiratory issues. Pediatric airway control also plays a pivotal role in augmenting market revenue.
Reusable Devices Lead Growth
The segment of reusable laryngoscopes is expected to experience the fastest growth within the market. The reusability of these devices is a critical factor influencing procurement decisions among medical professionals. Reusable laryngoscopes not only offer more features but are also cost-effective in the long run, as they do not require frequent replacements. These factors contribute significantly to the segments rapid expansion.
Rising Infections Propel Asia Pacific Market
The Asia Pacific region is the largest consumer of laryngoscopes and is expected to witness the fastest growth in the coming years. The regions increasing demand for disposable laryngoscopes is driven by a surge in hospital-acquired infections attributed to contaminated laryngoscopes. The adoption of disposable endoscopes is on the rise due to the escalating prevalence of nosocomial infections. Additionally, the regions growth is bolstered by new product approvals, technological advancements, rising healthcare costs, and a well-established healthcare infrastructure. The high prevalence of respiratory issues among adult and pediatric populations further contributes to this growth.
US Dominates North American Market
In North America, the United States is expected to dominate the laryngoscopes market. This dominance can be attributed to the increasing prevalence of respiratory illnesses among adults and children, primarily due to factors like exposure to cigarette smoke. The market is also driven by stringent practice standards established by organizations such as the American Society of Anesthesiologists (ASA) and government efforts to combat respiratory problems. Additionally, the market benefits from the introduction of innovative laryngoscope products designed to reduce intubation difficulties and related complications.
Competitive Landscape
Key players in the global laryngoscopes market include Penlon Ltd., Nihon Kohden, Teleflex Incorporated, Medtronic, Hillstrom, Flexicare Medical Ltd., Olympus Corporation, Ambu A/S, Fujifilm, Karl Storz, Rudolf Riester GmbH, and Clarus Medical. These companies continue to innovate and introduce new products to meet the growing demand for advanced laryngoscope technology.
As the laryngoscopes market continues its upward trajectory, fueled by technological advancements and the increasing prevalence of respiratory disorders, stakeholders and healthcare professionals are closely monitoring these developments for the benefit of patients worldwide.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/laryngoscopes-market
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This press release first seen on Brilad
COMTEX_442320027/2840/2023-10-23T08:21:13
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
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