New York, USA, Dec. 27, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global airway management devices market is envisioned to generate a revenue of $4,182.20 million and rise at a CAGR of 7.7% throughout the forecast timeframe from 2022 to 2031.
As per our analysts, with the increasing demand for immediate medical treatment for patients with infectious, persistent, and cardiac disorders, the airway management devices market is expected to witness prominent growth over the analysis timeframe. Moreover, the rising demand for single-use airway management devices is predicted to create huge growth opportunities for the market during the estimated period. However, the lack of reimbursement policies within developing countries regarding airway management devices may hamper the growth of the market throughout the forecast period.
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Segments of the Airway Management Devices Market
The report has divided the market into segments based on device type, patient age, end-user, and region.
Device Type: Infraglottic Devices Sub-Segment to be Most Productive
The infraglottic devices sub-segment is predicted to hold the largest share of the market throughout the forecast timeframe. This is mainly because infraglottic devices provide a duct between the mouth and trachea which help in offering ventilation to patients. Moreover, the increasing prevalence of chronic respiratory disorders, respiratory tract infections, and cardiovascular diseases are expected to foster the growth of the market sub-segment during the analysis period.
Patient Age: Adult Patient Sub-Segment to be Most Profitable
The adult patient sub-segment is expected to have the fastest growth over the estimated timeframe. The increasing adult population and the rising occurrence of chronic diseases in geriatric patients worldwide are expected to upsurge the growth of the market sub-segment during the forecast period.
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End-User: Hospitals Sub-Segment to be Most Beneficial
The hospitals sub-segment is expected to hold the maximum share of the market throughout the analysis period. The tremendous rise in the number of hospitals and healthcare infrastructure, and the growing economic development are the major factors expected to amplify the growth of the market during the estimated timeframe.
North America Region to Have Wide Growth Opportunities
The North America region of the airway management devices market is expected to hold the highest share of the market during the forecast period. This is mainly due to the increasing prevalence of asthma and chronic obstructive pulmonary diseases among people of this region. The rise in pollution rates and the increasing elderly population in this region are the major factors expected to drive the regional growth of the market over the estimated timeframe.
Covid-19 Impact on the Airway Management Devices Market
Though the outbreak of the Covid-19 pandemic has devastated several other diseases, it has had a positive impact on the airway management devices market. This is mainly due to the increasing demand for medical supplies to provide personal protective equipment to people during the pandemic period. Moreover, the high demand for airway management devices to treat patients suffering from severe infections, respiratory failure, or low oxygen saturation has inclined the growth of the market during the period of crisis.
Key Players of the Market
The major players of the airway management devices market include
- Flexicare (Group) Limited
- Ambu A/S.
- Intersurgical Ltd.
- KARL STORZ SE & Co. KG
- SunMed
- Teleflex Incorporated.
- VYAIRE MEDICAL, INC.
- Smiths Medical, Inc.
- Vbm Medizintechnik.
- Medtronic
These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to acquire a leading position in the global industry.
For instance, in August 2022, Medtronic plc., an American medical device company, announced its partnership with BioIntelliSense, a leading developer of a clinical intelligence platform designed for continuous health monitoring, predictive analytics, and algorithmic clinical insights. With this partnership, Medtronic aimed to offer access to a medical-grade device that would deliver continuous vital sign measurements of general care patients in-hospital as well as post-discharge. - Inquire here to grab full report
Further, the report also presents other vital aspects including SWOT analysis, the product portfolio, the financial performance of the key players, and the latest strategic developments.
More about Airway Management Devices Market:
- The Importance of Airway Management Devices in Medical Procedures
- Airway Management Devices to Experience Augmented Demand amidst COVID-19 Crisis
- Global Airway Management Devices Market to Witness Extensive Growth with Increasing Demand for Emergency and Intensive Care
