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The global video laryngoscope market size was USD 219.7 million in 2019 and is projected to reach USD 795.0 million by 2027, exhibiting a CAGR of 17.4% during the forecast period.
Video laryngoscope is a device that is used in the visualization of an enlarged video image of airway structures. In the past few years, these systems have become a substitute for the traditional direct laryngoscope. In direct laryngoscope, anesthesiologists only have a narrow view of the larynx, which can fail the attempts to pass the endotracheal tube (ETT) in its trajectory towards the airway and can slip into the esophagus. Whereas the video type of laryngoscope provides high-quality video images that can facilitate accurate ETT placement in difficult airways, thereby avoiding complications resulting from failed tube placement.
Also, according to a study published by NCBI, it was observed that endotracheal intubations using video laryngoscope were performed more successfully in a shorter period of time compared to the traditional direct laryngoscope. This, along with the globally increasing prevalence of obesity among the population and the increasing inpatient admissions in emergency departments of hospitals, are some of the major factors anticipated to boost the adoption of these medical devices for endotracheal intubations during the forecast period.
COVID-19 Pandemic to Boost Demand for Video Laryngoscope Owing to Prevention of Virus Transmission
The outbreak of the COVID-19 pandemic has had an overall positive effect on this market. This procedure for visualization of the endotracheal pathway is gaining popularity among healthcare professionals due to its enhanced visualization that makes intubation easy and minimizes the direct contact between healthcare providers and patients. Additionally, various clinical studies have reported that intubation using these devices on COVID-19 patients reduces the risk of virus transmission.
For instance, according to a study published by the Europe PMC, it was observed that anesthesia video laryngoscopes provide shorter intubation time and reduce the risk of infection compared to the traditional laryngoscopes for tracheal intubation in patients with COVID-19. Also, the increasing incidence of coronavirus cases is resulting in the shortage of these devices in many countries and hence, is further forcing market players to cater to the growing demand for these devices by increasing their manufacturing capacities.
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Introduction of Technologically Advanced Devices is a Prominent Trend
Manufacturers have cited the market opportunity by catering unmet needs of healthcare professionals for performing difficult intubations and are constantly focusing on introducing advanced devices in the market that can improve both the performance and safety during intubations.
Additionally, the introduction of fully disposable devices by market players, such as Vivid Medical and Intersurgical Ltd., has further boosted the preference of healthcare providers towards these devices. They promise to reduce the cross-contamination caused during various procedures by reusable direct laryngoscope.
Moreover, a few key players are adopting inorganic growth strategies such as acquisitions in order to establish their foothold in the market and commercialize their products at the global level. Thus, such initiatives by these players are expected to result in the introduction of advanced devices. It will subsequently boost the demand for these devices during the forecast period.
Possession of More Advantages than Direct Laryngoscopy Devices to Surge Demand
The increasing incidence of failure in intubation using a direct laryngoscope often results in severe conditions, including dental damage, laryngeal spasm, bronchospasm, dysrhythmias, cardiac arrest, brain damage, or even fatalities. Thus, to prevent these conditions, the adoption of new laryngoscopes with visualization capabilities is increasing in healthcare settings around the world.
Also, the growing publications and studies indicating the safety and superiority of these devices over direct laryngoscopy procedures, along with the introduction of innovative products by market players, have been instrumental in the higher adoption of these products globally. This adoption is further augmented by the facilitation of an integrated video display, as opposed to cart-based display models, and the introduction of fully disposable devices such as the “I-view” by Intersurgical Ltd.
High-cost May Limit Adoption in Emerging Countries
One of the major factors restricting the video laryngoscopes market growth is the lower adoption of anesthesia video laryngoscope in emerging countries due to their high cost and the lack of favorable reimbursement policies to provide coverage. For instance, according to the data published by Medtronic, the cost of reusable devices ranges from USD 1,000 to USD 8,000 depending upon its technical specialty compared to the cost of a single-use traditional laryngoscope, i.e., USD 18.0.
Thus, the high costs of these devices, as well as maintenance, are set to hinder growth. At the same time, the availability of cost-effective alternate devices for endotracheal intubations is also a major restraining factor for the growth opportunities of this market.
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Reusable Segment to Hold a Dominant Share of the Global Market During 2020-2027
In terms of the product, the market segments are reusable and single-use video laryngoscope. The reusable segment held the dominating share in 2019 owing to its technical superiorities over single-use devices, such as easy to operate, efficient to perform difficult intubation during an emergency, and availability of disposable blades. On the other hand, the single-use segment is anticipated to grow at a significant CAGR during the forecast period, fueled by the shifting focus of market players towards introducing advanced devices in the market.
Integrated Display Models Segment to Grow Rapidly Backed by Emergence of Advanced Devices
Based on the type, the market is segmented into integrated display models and cart-based models. The cart-based models held the dominant share in 2019. The presence of a large number of market players with strong product offerings for cart-based models and their comparatively higher costs are some of the major factors responsible for the dominance of this segment.
However, the integrated display models segment is anticipated to grow at a comparatively higher CAGR owing to the increasing introduction of advanced devices with an integrated display by key players. For instance, in August 2017, Verathon Inc. launched its new GlideScope Go in the market. It is a compact, easy to use, portable, and high-resolution system intended to help clinicians in hospitals and pre-hospital settings.
Hospitals Segment Dominated in 2019 Stoked by Rising Demand for Anesthesia Management Devices
On the basis of end-users, the market is fragmented into hospitals, ENT Clinics, and others (pre-hospital, EMS, etc.). The hospitals segment held a dominant video laryngoscope market share in 2019 and is anticipated to register a comparatively higher CAGR during the forecast period. The dominance is attributed to the higher number of surgeries performed in hospitals that require patients to be on anesthesia. Hence, it would result in more number of intubations in hospitals compared to other settings. Besides, the ENT clinics and others segments are expected to grow at a moderate CAGR in the upcoming years because of the lower adoption of these devices in these settings.
North America Video Laryngoscope Market Size, 2019 (USD Million)
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The market size in North America stood at USD 93.9 million in 2019. The dominance of the region is attributed to major factors, including a higher adoption rate of advanced devices, greater affordability among patients, developed healthcare infrastructure, and constant focus of market players on the U.S.
Europe is expected to register a significant CAGR during the forecast period owing to the increasing number of obese patients in the emergency department of hospitals, along with the presence of well-established healthcare infrastructure in developed European countries such as the U.K., Germany, Spain, France, and others.
The market in Asia Pacific is set to register a higher CAGR during the forecast period. The rapidly developing healthcare infrastructure in emerging countries, namely, Japan, China, and Australia, along with the growing awareness regarding the advanced minimally invasive treatment options, is one of the major factors responsible for the growth of the Asia Pacific market.
Latin America and the Middle East & Africa accounted for a comparatively lower share of the market owing to the presence of lower awareness among the population regarding advanced devices.
Verathon Inc., Medtronic, and Ambu A/S Held Dominant Shares of the Market in 2019
The competitive landscape of the market is consolidated. The market is dominated by major players such as Verathon Inc., Medtronic, and Ambu A/S. Robust product portfolios, strong brand image, and wide distribution networks in developed and emerging countries are primarily responsible for the dominance of these players in the global market. Also, established players are adopting inorganic growth strategies, namely, joint ventures and acquisition of other companies in order to strengthen their product portfolios and enhance their positions in the global market.
Other players operating in the market are KARL STORZ, VYAIRE MEDICAL, INC., Marshall Products, Intersurgical Ltd., Vivid Medical, Inc., and PRODOL MEDITEC.
An Infographic Representation of Video Laryngoscope Market
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The global video laryngoscope market report provides an in-depth analysis of the market and focuses on key aspects such as renowned companies, product types, and leading applications of the product. Besides this, it offers market insights into the market dynamics and highlights key industry developments. In addition to the aforementioned factors, the report encompasses market trends that have contributed to the growth of the market over recent years.
Value (USD million)
By End Users
Fortune Business Insights says that the global market stood at USD 219.7 million in 2019 and is projected to reach USD 795.0 million by 2027.
In 2019, the market value stood at USD 93.9 million.
The market will exhibit steady growth at a CAGR of 17.4% during the forecast period (2020-2027).
By product, the reusable segment will lead the market.
The increasing use of these devices for difficult intubations, along with the introduction of advanced devices by market players, are the key drivers of the market.
Verathon Inc., Medtronic, and Ambu A/S are the top players in the market.
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