Image: The growing demand for robot-assisted laryngoscopy is one of the key emerging trends driving the global video laryngoscopes market (Photo courtesy of iStock).
The global video laryngoscopes market is expected to grow at a CAGR of over 14% from 2018-2022, driven mainly by increasing M&A and the growing demand for robot-assisted laryngoscopy. M&A leads to an increase in the product portfolio of players, which helps in product expansion and differentiation. The large players in the video laryngoscopes market are acquiring small players to gain access to their key technologies and products, and enter into partnerships with distributors to increase their sales.
These are the latest findings of Technavio Research, (London, UK), a global technology research and advisory company.
The growing demand for robot-assisted laryngoscopy is one of the key emerging trends driving the global video laryngoscopes market. The players in the video laryngoscopes market are developing innovative video laryngoscopes that offer greater accuracy and better support to operators owing to technological advancements. The increasing complications or risks associated with conventional and traditional surgeries are resulting in higher demand for robot-assisted laryngoscopy. Robot-assisted devices offer reliability for increased precision levels and near-absolute geometric accuracy, which helps to reduce the workload of the specialists and improve patient care. Multipurpose surgical robotic systems make it possible to achieve robot-assisted airway management.
Based on product, the rigid video laryngoscopes segment held the largest market share in 2017 at nearly 85%, which is expected to increase by close to 2% by 2022. The rigid video laryngoscopes segment is expected to continue dominating the market and register the highest growth during the forecast period.
Based on end-user, the hospital segment dominated the video laryngoscopes market in 2017 is expected to maintain its dominance during the forecast period due to the growing availability of diverse endoscopic devices and favorable reimbursement policies.
Geographically, the Americas led the global video laryngoscopes market in 2017 with a share of nearly 48%, driven by the increasing incidence of cancer and other larynx-related disorders in the region. However, the video laryngoscopes market in Asia Pacific is expected to record the highest growth during the forecast period.