The global video laryngoscope market size is anticipated to reach around USD 3,244 million by 2032 up from USD 592.65 million in 2022 with a CAGR of 18.53% between 2023 and 2032.
The major factor driving the market is the increasing respiratory diseases and growing pressure to reduce the rising healthcare costs. Furthermore, the rising awareness of benefits of video laryngoscope among healthcare providers along with the increasing need for high-quality patient care is also anticipated to augment the growth of the video laryngoscope market during the forecast period.
Video laryngoscopes are devices that incorporate a camera at the end of the laryngoscope blade, which enables doctors to obtain a better view of the larynx during intubation procedures. The camera captures images that are displayed on a monitor, allowing doctors to perform intubation procedures more quickly and accurately. The video laryngoscope market has experienced significant growth in recent years and is expected to continue this trend over the forecast period.
One of the key factors driving the growth of the video laryngoscope market is the increasing prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD) and COVID-19. These diseases often require tracheal intubation, and the video laryngoscope can assist healthcare professionals in performing the procedure safely and effectively.
Another major factor driving the market growth is the ongoing development and introduction of advanced video laryngoscope devices by key players in the industry. These devices promise to improve both the performance and safety of intubation procedures, and manufacturers are constantly working to meet the unmet needs of healthcare professionals in performing difficult intubations. However, there are also several restraints in the market, including the high cost of video laryngoscopes and the need for specialized training to operate the devices. These factors can limit the adoption of video laryngoscopy in clinical practice, especially in low- and middle-income countries where resources and training may be limited.
North America registered the largest revenue share of 40% in 2022. This is owing to the increasing prevalence of chronic respiratory diseases such as COPD, asthma, and bronchitis, which require intubation. The aging population in the region is also contributing to the growth of the video laryngoscope market, as older adults are more prone to respiratory diseases and require intubation. Additionally, the rising number of surgeries being performed in region is driving the demand for video laryngoscopes, as they enable easier and safer intubation during surgery.
Many technology companies in the region are at the forefront of developing new video laryngoscopes. These companies are driving innovation and making video laryngoscope more efficient and cost-effective. Furthermore, the increased government initiatives and focus to improve patient care is also anticipated to augment the growth of the market within the estimated timeframe.
Asia Pacific is expected to register a rapid CAGR during the forecast period. The increasing number of healthcare facilities is expected to increase the demand for video laryngoscopes in the region. Furthermore, the region is witnessing significant growth in healthcare infrastructure, with increasing investment in hospitals, and clinics. This is expected to increase the adoption of video laryngoscopes in the region, as healthcare professionals seek to provide better patient care through advanced medical devices.
Additionally, the geriatric population is increasing rapidly in the region, leading to a rise in the number of patients with comorbidities and difficult airway management. Video laryngoscopes are becoming a preferred option for managing airways in elderly patients, as they offer better visualization of the airway and reduce the risk of complications.
| Report Coverage | Details |
| Market Revenue in 2023 | USD 702.47 Million |
| Projected Forecast Revenue by 2032 | USD 3,244 Million |
| Growth Rate from 2023 to 2032 | CAGR of 18.53% |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Drivers
Increasing demand for minimally invasive surgeries
The increasing demand for minimally invasive procedures is likely to support the growth of the video laryngoscope market during the forecast period. Minimally invasive procedures are associated with a lower risk of complications, reduced pain and blood loss, shorter hospital stays, and faster recovery times for patients. Video laryngoscopes, with their enhanced visualization capabilities, offer a minimally invasive approach to airway management and intubation.
Furthermore, video laryngoscopes have been shown to reduce the incidence of difficult airway management, which is a major contributor to morbidity and mortality in anesthesia. With video laryngoscopes, the clinician can see the entire airway and avoid difficult airway scenarios. This makes the intubation process safer and less invasive for the patient.
Also, the growing demand for minimally invasive procedures has also led to the development of more advanced video laryngoscopes with improved functionality and ease of use. For instance, many video laryngoscopes now come with a variety of blade types and sizes, making them more versatile and suitable for different patient populations. Additionally, some of the video laryngoscopes are now designed for single-use, making them more convenient and hygienic for healthcare professionals, which is further likely to support the growth of the video laryngoscope market during the forecast period.
Restraint
Availability of alternative devices
The availability of alternative devices is expected to restrain the growth of the video laryngoscope market in the years to come. There are several alternative devices available in the market that can be used for airway management procedures. For instance, traditional direct laryngoscopes, and fiber-optic laryngoscopes are some of the alternatives to video laryngoscopes. These devices are cheaper than video laryngoscopes and offer similar outcomes in airway management procedures, which can make them a more attractive option for healthcare providers and hospitals.
Also, the cost of video laryngoscopes can be high, particularly for reusable devices. This high cost can make it difficult for smaller healthcare providers or those with limited budgets to justify purchasing video laryngoscopes. This could result in healthcare providers opting for alternative devices that are more affordable and cost-effective and further limit the growth of the market in near future.
Opportunities
Increasing demand from emerging economies
The increasing demand for video laryngoscopes in emerging economies is likely to create lucrative growth opportunities for the global video laryngoscope market in the years to come. Emerging economies are characterized by large populations, an increasing number of hospitals and healthcare facilities, and rising healthcare expenditure. As a result, these economies have become key growth markets for medical devices, including video laryngoscopes.
In emerging economies, the rising incidence of chronic respiratory diseases and other respiratory conditions is increasing the need for airway management procedures, which is driving the demand for video laryngoscopes. Additionally, the increasing adoption of advanced medical technologies is leading to a growing demand for video laryngoscopes in the region. Also, the increasing number of hospitals and healthcare facilities is resulting in a greater need for video laryngoscopes within the estimated timeframe.
Segments Covered in the Report:
By Product
By Usage Type
By Device Type
By End-User
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