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Emerging Trends to Drive Laryngoscope Market Growth at 10.2% CAGR Through 2029
Laryngoscope
Laryngoscope Market Size Growth Forecast: What to Expect by 2025?
Recent years have seen a significant expansion in the size of the laryngoscope market. The market, valued at $0.3 billion in 2024, is predicted to rise to $0.33 billion in 2025, marking a compound annual growth rate (CAGR) of 9.9%. This past growth can be credited to advancements in medical technology, the use of anesthesia and intubation, the growth of healthcare infrastructure, and the increase in training and education.
How Will the Laryngoscope Market Size Evolve and Grow by 2029?
Over the coming years, the laryngoscope market is predicted to experience a swift expansion. By 2029, its value is projected to reach $0.49 billion, signifying a compound annual growth rate (CAGR) of 10.2%. This anticipated growth within the forecast period is due to factors such as an aging demographic, advancements in technology, the advent of telemedicine and remote consultations, and the increased preference for minimally invasive procedures. Looking to the future, prominent trends encompass video laryngoscopy, accelerated tech development, portability, compact design, and the rise of disposable laryngoscopes.
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What Drivers Are Propelling the Growth of Laryngoscope Market Forward?
The escalation in instances of laryngeal cancers, infections, and persistent respiratory conditions are key factors projected to propel the growth of the laryngoscope market. Laryngeal cancer, a form of head and neck cancer, is marked by the development of malignant cells within the larynx. For example, in 2024, as per the data by the American Cancer Society (ACS), a health organization based in the US, the anticipated number of fresh laryngeal cancer cases in the US saw a rise to 12,650, an increase from 12,380 in 2023. As such, the rising cases of laryngeal cancer amplified the need for laryngoscopes, consequently leading to the growth of the laryngoscopes market.
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Which Fast-Growing Trends Are Poised to Disrupt the Laryngoscope Market?
The rise in robot-assisted laryngoscopy is a significant trend impacting the laryngoscope market. The increasing complexities and risks linked with advance and exploratory practices lead to higher demand for this robotic assistance. Features such as dependability and precision of robotic devices, along with their near-perfect geometric accuracy, aid in reducing the burden on specialists and enhancing patient care. Adopting robotic systems accelerates skill development compared to manual methods, while also heightening performance and safety. An innovative robotic tool designed to offer surgeons better access to the larynx (voice box) has been developed by Johns Hopkins University. Furthermore, experts are in the process of developing a one-handed, joystick-operated robotic laryngoscope.
What Are the Key Segments in the Laryngoscope Market?
The laryngoscope market covered in this report is segmented -
1) By Type: Indirect Laryngoscope, Direct Laryngoscope
2) By Product: Video Laryngoscopes, Standard Laryngoscopes, Fiber-optic Laryngoscopes
3) By End-user: Hospitals, Clinics, Medical Examination Center
Subsegments:
1) By Indirect Laryngoscope: Rigid Indirect Laryngoscope, Flexible Indirect Laryngoscope
2) By Direct Laryngoscope: Rigid Direct Laryngoscope, Video Direct Laryngoscope
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Who Are the Key Players Shaping the Laryngoscope Market's Competitive Landscape?
Major companies operating in the laryngoscope market include Ambu A/S, Hill-Rom Holdings Inc., KARL STORZ GmbH & Co. KG, Medtronic Plc, Olympus Corporation, HOYA Corporation, Roper Technologies Inc., Richard Wolf GmbH, Schoelly Fiberoptic GmbH, Welch Allyn Inc., Timesco Healthcare Ltd., GIMMI GmbH, Zhejiang Tiansong Medical Instrument Co.Ltd., XION GmbH, HEINE OPTOTECHNIK GmbH & Co. KG, Truphatek International Ltd., Kangji Medical, Shenda Endoscope, Rudolf Riester GmbH, Baxter International Inc., Nihon Kohden, Teleflex Incorporated, BPL Group, Clarus Medical LLC, SunMed LLC, Vyaire Medical Inc., Flexicare Medical Ltd., IntuBrite LLC
What Geographic Markets Are Powering Growth in the Laryngoscope Market?
Asia-Pacific was the largest region in the laryngoscopes market in 2024. North America was the second largest region in the laryngoscope market. The regions covered in the laryngoscope market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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