Video Laryngoscope Market to Exhibit 17.4% CAGR till 2027; Its Ability to Reduce Intubation Time in COVID-19 Patients to Spur Demand

The global video laryngoscope market size is projected to reach USD 795.0 million by 2027. The COVID-19 pandemic is set to positively impact the market by surging the demand for advanced devices with enhanced visualization capabilities. Europe PMC, an open-access repository, for instance, declared that video laryngoscopes have successfully provided lesser intubation time and reduced the risk of infection in coronavirus positive patients. Fortune Business Insights™ published this information in a new study, titled, “Video Laryngoscope Market Size, Share & COVID-19 Impact Analysis, By Product (Reusable, and Single-use); By Type (Integrated Display Models, and Cart-based Models); By End Users (Hospitals, ENT Clinics, and Others (Pre-hospital, EMS, etc.)), and Regional Forecast, 2020-2027.” The study further mentions that the market stood at USD 219.7 million in 2019. It is set to exhibit a CAGR of 17.4% during the forecast period between 2020 to 2027.

Verathon Unveils GlideScope® BFlex™ 3.8 Bronchoscope

In May 2020, Verathon introduced the GlideScope® BFlex™ 3.8 bronchoscope. It accommodates down to a 5.0-millimeter endotracheal tube and down to a 35 French double-lumen tube for airway management and lung isolation procedures, respectively. It is best suited for usage with GlideScope® Core system™ for multimodal airway procedures, bronchoscopy, and video laryngoscopy.

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Increasing Usage of Video Laryngoscopes to Reduce Failed Intubation Rates will Spur Demand

The American Society of Anesthesiologists stated that in the span of 14 years, between 2003 to 2016, failed and difficult intubation rates declined significantly in the U.S. by healthcare providers in both smaller settings and urban hospitals. This occurred because of the extensive utilization of video laryngoscopes. These factors are expected to accelerate the video laryngoscope market growth in the near future. However, the high maintenance cost of these devices and the availability of substitutes for endotracheal intubations may obstruct growth.

Key Companies Aim to Attract More Customers by Introducing Novel Products  

The global market for anesthesia video laryngoscope houses many prominent manufacturers that are mainly focusing on adopting organic and inorganic strategies, such as acquisitions, joint ventures, and mergers, to intensify competition. Some of the others are investing huge sums in R&D activities to come up with innovative video laryngoscopes for gaining more customers.

A Significant Industry Development-

• August 2020: Verathon, a provider of airway management solutions headquartered in Washington, launched the GlideScope Video Baton QC Large. It would help the company to broaden its video baton portfolio. The new product can be used with GlideScope Core™ airway management systems. It also has magnetic QuickConnect technology that would enhance intuitive video cable connectivity and workflow.

Further Report Findings-

• North America generated USD 93.9 million in 2019 in terms of revenue. The persistent focus on major video laryngoscope manufacturers to set up their businesses in the U.S. would contribute to this growth. The region is expected to remain in the leading position in the coming years because of the well-established healthcare infrastructure and the higher adoption rate of advanced devices.
• Asia Pacific is likely to show a considerable CAGR in the forthcoming years on account of the increasing awareness of minimally invasive treatment options in the region. At the same time, the ongoing developments of healthcare infrastructures in emerging countries, such as Australia, China, and Japan, would also propel growth.
• Based on end-users, the hospitals segment earned the dominant video laryngoscope market share in 2019. This growth is attributable to the rising number of surgeries that are being performed in hospitals globally. Hence, patients require being under anaesthesia.

The global market can be segmented in the following way: