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Video laryngoscope market to reach USD 2217.84B by 2031

The video laryngoscope market, valued at USD 578.16 billion in 2023, is anticipated to surge to USD 2217.84 billion by 2031, exhibiting an impressive Compound Annual Growth Rate (CAGR) of 18.3% during the forecast period spanning 2024-2031.

The video laryngoscope market size USD 578.16 billion by 2023 and expected to reach nearly USD 2217.84 billion by 2031, at CAGR 18.3% during the forecast period 2024-2031.

Growing demand for video laryngoscope market expansion
Video laryngoscopes are gaining popularity over traditional ones due to their clear advantages these benefits include easier intubation, better views of the airway, reduced errors, and improved teaching. This is driving their use in hospitals, surgery centers, and ambulances.

The market is growth due to several factors such as more people have respiratory illnesses, the population is aging, and there’s a need for better airway management. Portable video laryngoscopes are also making them useful in emergencies.

Companies compete based on innovation, technology, and price. Regulations, insurance coverage, and healthcare infrastructure also play a role.

The future looks bright for video laryngoscopes as the demand for better airway management and patient outcomes is strong.

Additionally, features like artificial intelligence and wireless connectivity are expected to further fuel market growth.

North America dominating the video laryngoscope market
North America leads the video laryngoscope market, holding over 38% of the revenue share in 2023. This dominance is due to several factors such as there’s a high number of respiratory illnesses in both adults and children.

Air pollution and smoking, which worsen these conditions, are on the rise. Finally, strict medical guidelines and government initiatives in the region promote the use of advanced airway management techniques, like video laryngoscopy these factors combined make North America a prime market for video laryngoscopes.

Impact of geopolitical tensions on the video laryngoscope market
The Russia Ukraine war is disrupting the video laryngoscope market in a few ways such as most medical devices are imported from the US and Europe, and the war has made these imports difficult. The war has caused a humanitarian crisis, with many Ukrainians fleeing to Poland.

This puts a strain on Poland’s healthcare system, including its supply of medical devices. As a result, the prices of video laryngoscopes and related services are expected to rise.

The recession is not expected to have a major impact on the video laryngoscope market because medical equipment is essential for healthcare, and people will still need these procedures even during a recession. Additionally, the Affordable Care Act (ACA) has helped to insure more people, which means there will likely be a steady demand for medical procedures. SNS Insider

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