LOS ANGELES, Aug. 18, 2021 (GLOBE NEWSWIRE) -- The Global Video Laryngoscope Market is projected to grow at a CAGR of around 20.5% from 2021 to 2028 and to reach around US$ 735.8 Million by 2028.
North America holds dominating share from the past; Asia Pacific to register all time high CAGR for the video laryngoscope market in the coming years
North America dominated the video laryngoscope market in 2020, with a dominant share that is expected to continue throughout the forecast period. The introduction of advanced healthcare infrastructure, combined with favorable reimbursement policies, is a driving factor for regional growth, ultimately contributing to global market growth.
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On the other hand, the video laryngoscope market in Asia Pacific is expected to grow at an all-time high CAGR in the coming years. The demand for video laryngoscope devices during COVID-19 is one of the driving factors for the overall market growth in APAC provinces. For example, it was recommended in many countries, including Australia and New Zealand, to use a video laryngoscope for intubation to reduce the risk of contamination during the COVID-19 pandemic. Such factors contribute to the overall growth of the video laryngoscope market.
What is the future of video laryngoscope?
According to a 2018 report released by the Difficult Airway Society (DAS), the use of video laryngoscopes is critical in the presence of difficult airways or as a rescue strategy when direct laryngoscope fails. Furthermore, according to a 2017 report published by the Société Francaised' Anesthésie et de Réanimation (SFAR) and the Société de Réanimation de Langue Francaise (SRLF), the video laryngoscope is used as the first option for intubation among patients with a score of 3 and as a rescue strategy when intubation with the direct laryngoscope fails.
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COVID-19 impact on global video laryngoscope market
During COVID-19, the video laryngoscope market received significant attention in the global market, which has a positive influence on the overall market's growth. According to a report published by HealthManagement.org, the COVID-19 emphasizes the use of a video laryngoscope during intubation for ICU patients in order to limit contamination of the intubation provider. International guidelines recommend that video laryngoscopes be used to increase the distance between the patient and the intubation provider during the pandemic and that intubation be performed by the most experienced operator.
Segmental Outlook
The global video laryngoscope market is segmented as product, usage type, channel type, device type, and end-user. Based on the product, the market is bifurcated into rigid video laryngoscopes and flexible video laryngoscopes. Based on the usage type, the market is classified into reusable video laryngoscope and disposable video laryngoscope. Channel type is segregated as non-channeled video laryngoscope and channeled video laryngoscope. Based on the device type, the market is segmented as cart-based video laryngoscope and handheld video laryngoscope. Furthermore, end-user is segmented as pre-hospital, in-hospital, and others (ENT clinics, Training/Teaching, etc).
Competitive Landscape
Some of the leading competitors are PRODOL MEDITEC, Ambu A/S, Medtronic plc, Karl Storz SE & Co. KG, Salter Labs, AAM Healthcare, Hebei Vimed Medical Device Company, Ltd., and among others
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Some of the key observations regarding the video laryngoscope industry include:
- In November 2020, Zeiss has announced the release of a new product called "NURA." The newly released product protects against COVID-19 by allowing users to keep a safe distance between themselves and the patient.
- In November 2015, Medtronic has announced the acquisition of Aircraft Medical for $84.9 million. The acquisition will broaden Medtronic's portfolio of solutions for airway obstruction and the avoidable issue of respiratory compromise. Furthermore, Medtronic will gain a competitive advantage as a result of the acquisition, which will allow clinicians to view the patient's vocal cords and insert the breathing tube into the patient.
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