The global ”video laryngoscope industry“ is set to gain impetus from the rising focus of renowned companies on manufacturing novel devices to fulfil the unmet demand for performing difficult intubations from healthcare professionals. Dilon Technologies Inc., for instance, launched CoPilot VL+ in February 2018,to help healthcare providers receive a clear view of the airway while inserting breathing tubes. This information is given by Fortune Business Insights™ in a new report, titled, “Video Laryngoscope Market Size, Share & Industry 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.)), 2020-2027.” The report further states that the 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.
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Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
COVID-19 Pandemic:Ability to Prevent Transmission will Affect Growth Positively
The COVID-19 pandemic is likely to affect the market for video laryngoscope positively in 2020 because of the ability of this procedure to prevent direct contact between patients and healthcare workers. Europe PMC, for instance, published in a study that unlike the conventional laryngoscopy for tracheal intubation, this procedure reduces the risk of infectionand offers shorter intubation time in COVID-19 positive patients. Our authentic reports will help you invest in significant zones for regaining business confidence amid the pandemic.
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.
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How Did We Create This Report?
Our skilled analysts have presented an elaborate picture of the global market for packaged sprouts by summation, synthesis, and study of data from various significant sources. They have also included numerous facets of the market with the main focus on determining the crucial industry influencers. Thus, the data is reliable and comprehensive. It was gathered by conducting extensive primary and secondary research.
Drivers & Restraints-
A Need to Prevent Adverse Conditions will Augment Growth
Direct laryngoscope is causingfailure in intubationrapidly worldwide. It often results in severe consequences, such as fatalities, dental damage, brain damage,dysrhythmias, laryngeal spasm,cardiac arrest, bronchospasm, and laryngeal spasm. To prevent these conditions, healthcare providers are nowadays using anesthesia video laryngoscope devices with higher visualization capabilities. It would further contribute to thevideo laryngoscope market growth in the near future.However, these devices are very expensive. Medtronic, for instance, announced that the cost of a reusable device ranges between USD 1,000 to USD 8,000. It may hamper the demand for video laryngoscopedevices.
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Reusable Segment to Lead Stoked by Availability of Disposable Blades
Based onthe product, the reusable segment heldthe largest video laryngoscope market share in 2019. This growth is attributable to the availability of disposable blades. Besides, these products are easy to operate and are capable of performing difficult intubation efficiently during emergencies.
North America to Remain at Forefront Fueled by Presence of Developed Healthcare Infrastructure
Geographically, in 2019, North America generated USD 93.9 millionin terms of revenue. The region is expected to retain its dominant position throughout the forthcoming years on account of the presence of a well-developed healthcare infrastructure, rising affordability among patients, and surging usage ofstate-of-the-artvideo laryngoscopes.
On the other hand, Europe is set to exhibit a significant CAGR in the near future backed by the rising obese populations that are getting admitted in the emergency department of hospitals. In Asia Pacific, the increasing awareness of the availability of minimally invasive treatment options would propel growth.
Key Players Focus on Mergers & New Product Developments to Compete with Rivals
The global market for video laryngoscopeis dominated by a few companies, namely, Ambu A/S, Medtronic, and Verathon Inc.Most of these companies are focusing on developing unique devices to cater to the high demand from healthcare institutions. Some of the others are adopting the mergers and acquisitions strategy to gain a competitive edge by opening new firms. Below are the two latest industry developments:
- The global Medical Implants Market is expected to grow at a CAGR of 6.8% from 2021-2027 to reach US$ 145 billion by 2027.