New York, USA, May 09, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global airway management devices market is expected to generate a revenue of $2,178.8 million by 2026, growing exponentially at a CAGR of 7.4% during the forecast period 2019-2026. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Dynamics of the Market
Drivers: Increasing prevalence of chronic respiratory diseases among people across the globe is predicted to drive the growth of the market during the forecast period. In addition, the growing number of geriatric population across the globe is further expected to bolster the growth of the airway management devices market during the forecast period.
Restraints: Economic barriers that are curbing the potential for better health treatments is expected to hinder the growth of the market during the forecast period.
Opportunities: Persistent technological advancements in airway management devices is expected to create ample opportunities for the growth of the global airway management devices market during the forecast period.
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Segments of the Market
The report has divided the market into various segments based on type, patient age, end-use, and region.
Type: Supraglottic Airway Management Sub-segment to be Have the Highest Growth Rate
The supraglottic airway management sub-segment is expected grow rapidly at a CAGR of 8.3% during the forecast period. Its lightweight properties and its considerable demand in the aircraft applications is expected to bolster the growth of the airway management devices market sub-segment during the forecast period.
Patient Age: Adult Patients Sub-segment to be Most Profitable
The adult patients sub-segment generated a revenue of $763.1 million in 2018, and is further expected to grow exponentially during the forecast period. Increasing adult population and the growing cases of chronic diseases in the geriatric population is expected to stimulate the growth of the sub-segment during the forecast period.
End-use: Operating Rooms Sub-segment to be Most Lucrative
The operating rooms sub-segment is expected to generate a revenue of $823.6 million during the forecast period. Increasing application of airway management devices for ventilation, oxygenation, and surgical processes is expected to accelerate the growth of the airway management devices market sub-segment during the forecast period.
Region: North America Region to Dominate the Global Market
The North America region is expected to grow expeditiously at a CAGR of 7.1% during the forecast period. Massive number of hospitals in this region is expected to drive the growth of the market. In addition, growing prevalence of geriatric population in this region is further expected to accelerate the growth of the regional airway management devices market during the forecast period.
Key Players of the Market
The major players of the market include
- Teleflex
- SunMed
- Medtronic
- KARL STORZ
- Flexicare
- Vyaire Medical
- Ambu A/S
- Vyaire Medical
- VBM Medizintechnik
- Smiths Medical
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in June 2020, Docsinnovent Ltd, an illustrious specialist in airway management committed to raising standards in veterinary anaesthesia, launched a revolutionary product called v-gel Advanced supraglottic airway devices which makes airway management easier, quicker, more comfortable and much safer. It is currently extensively used in veterinary anaesthesia and resuscitation.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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