NEWARK, Del, Feb. 01, 2023 (GLOBE NEWSWIRE) -- The Airway Management Devices Market is anticipated to be valued at US$ 1.6 billion in 2023, with total revenue recording a 3.6% CAGR from 2023 to 2033, reaching US$ 2.2 billion. The airway management devices market was valued at US$ 1.5 billion in 2022, with a 3.2% CAGR expected throughout the projected period. The global market's absolute dollar growth is US$ 668.5 million.
The rising frequency of respiratory disorders is expected to be one of the market's key driving forces. The WHO estimates that 65 million people have moderate-to-severe COPD. Furthermore, COPD is expected to be the third biggest cause of death globally.
This high incidence, combined with an increase in anaesthetic consumption as a result of many surgeries, is likely to drive demand for advanced equipment, positively impacting the overall market growth. The growing demand for emergency treatment for long-term illnesses, as well as long-term therapy for lung disorders in children and adults, is also anticipated to fuel market expansion.
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In the current scenario, growing awareness of inadequate ventilation and the introduction of relatively advanced procedures for preoperative airway examination are projected to broaden the possibility for product penetration in the future years. Preoperative Endoscopic Airway Evaluation (PEAE), for example, aids in the identification and prediction of blocked ventilation, as well as the design of an effective management strategy that focuses on the use of advanced equipment like supraglottic airway.
Key Takeaways
- The market is estimated to drive due to increased demand for emergency and intensive care.
- The rise in the prevalence of respiratory diseases is likely to drive the growth of the market for airway management devices.
- The airway management devices market is expected to be worth US$ 1.6 billion in 2023.
- Airway management devices market is forecasted to register a 3.6% CAGR from 2023 to 2033.
- North America is likely to dominate the market for airway management devices market.
Recent Developments:
- Verathon Inc. introduced the GlideScope Core 15 airway visualisation system in January 2020, which employs a 15-inch high-definition touchscreen monitor to provide improved visibility.
- In January 2020, Smiths Medical, Inc. announced the expansion of its Portex Tracheostomy Tubes and Kits line by releasing a PVC-based tracheostomy tube range. The portfolio includes BLUperc, BLUselect tracheostomy tubes, and BLUgriggs percutaneous tracheostomy kits and trays.
- Olympus Corporation, a global technology leader in inventing and delivering new solutions for surgical and medical procedures, among other core activities, announced the release of two video rhino-laryngoscopes in September 2019. It is proposed that the ENF-VH2/V4 be specially constructed for laryngological tests.
- In September 2018, Royal Philips announced the development of a resuscitation device in conjunction with the Consortium for Affordable Medical Technologies (CAMTech) to aid in the reduction of infant mortality.
- In January 2019, Oventus Medical, a medical device business, unveiled O2 Vent Optima, a new product. It is used to treat obstructive sleep apnea. It is based on the airway technology developed by Oventus Medical. It keeps the airway from contracting and allows for unrestricted airflow from the tongue, soft palate, and nose. It is suitable for usage with or without continuous positive airway pressure.
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Key Companies Profiled:
- Medtronic Plc
- Teleflex Incorporated
- Ambu A/S
- Smith’s Group plc.
- Intersurgical Ltd.
- Cook Medical Inc.
- SunMed
- Vyaire Medical Inc
- VBM Medizintechnik GmbH
- Karl Storz SE & Co. KG
- Cook Gas LLC
- Flexicare (Group) Limited
- BVLM Pty Ltd
- Boston Medical Products Inc. (BESS GROUP)
- Salter Labs
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Airway Management Devices Market Key Segments
By Product Type:
- Laryngeal Masks
- Tracheostomy Tubes
- Endotravheal Tubes
- EndoBronhial Tubes
- Nasal Airway Tubes
- Oral Airway Tubes.
By Usage Type:
- Single Use/ Disposable
- Reusable
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
Table of Content
1. Executive Summary | Airway Management Devices Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
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