Pune, India, April 05, 2023 (GLOBE NEWSWIRE) -- The global airway management devices market size was valued at USD 1.81 billion in 2021 and is projected to reach a valuation of USD 1.89 billion in 2022. The market is expected to reach USD 2.55 billion by 2029 with a CAGR of 4.4% during the forecast period. Owing to rising cases of chronic diseases such as chronic obstructive pulmonary disease (COPD), cancer, chronic lung diseases, and others have put emphasis on better treatment of such conditions. Rising number of joint ventures and start-ups is projected to aid market development. Fortune Business Insights™ shares this information in its report titled “Airway Management Devices Market, 2022-2029.”
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Key Industry Development
- January 2022- Intersurgical Ltd announced the acquisition of Pulmodyne, Inc. to provide Intersurgical and for increased sales of the Pulmodyne ranges through the extensive global Intersurgical Ltd network.
Drivers and Restraints
Rising Number of Joint Ventures and Startups To Propel The Demand For Product
Rising number of joint ventures and startups in the industry are anticipated to drive the airway management devices market growth. Number of market players have been focusing on producing airway devices which are technologically advanced along with development of new R&D centers. Additionally, rising production by key players and approval from regulatory bodies for low-cost devices is expected to boost market growth. In April 2021, Medtronic launched the largest R&D center in India to launch new devices, advancing new technologies in surgical navigation and imaging, airway devices, ventilators, and many others.
However, complications such as regurgitation and aspiration of gastric contents, compression of vascular structures, trauma and nerve injury are expected to limit the market growth.
COVID-19 Impact:
Postponements of Non-Essential Surgeries During Pandemic Led to Decline in the Market Progress
The COVID-19 pandemic led to the decline in market growth for airway management devices in 2020. Various countries across faced challenges in accessing medical care and treatment due to postponements & de-prioritization of non-essential surgeries. In 2021, according to Centers for Disease Control and Prevention (CDC), the U.S. emergency department (ED) visits declined by 42% from for some time in 2020, after the declaration of a national emergency for COVID-19 pandemic. As per the estimates, ED visits from December 2020 to January 2021 were 25% lower than during the same months in 2019.
Segmentation
Infraglottic Devices To Lead With Rise in Chronic Respiratory Disorders
On the basis of type, the market is divided into infraglottic devices, supraglottic devices, laryngoscopes, and others. Infraglottic devices held the largest share in the year 2021 due to rise in the chronic respiratory disorders and adoption of such devices by healthcare providers in intensive care units.
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Anesthesia To Lead The Segment Due To Rising Anesthetic Procedures
As per the application, the market is divided into anesthesia, emergency medicine, and others. Anesthesia segment due to rising global anesthetic procedures and rising chronic disorders requiring anesthetic intervention among the population.
Hospitals & Ambulatory Surgical Centers To Lead The Segment Due To Rising Number Of Hospitals
On the basis of end-user, the market is divided into hospitals & ambulatory surgical centers, homecare, and others. Hospitals & ambulatory surgical centers held the largest share in the year 2021 due to rising number of hospitals, especially in emerging countries. Homecare segment is set to have a considerable CAGR due to rising number of the geriatric population with chronic conditions and high adoption of homecare settings amongst the geriatric population.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
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Regional Insights
North America To Lead Market Share Due To Rise in the Number of R&D Activities
North America is expected to have a high part in the airway management devices market share due to rising R&D activities. Introduction of new technologies by the key players is set to drive the market growth. Increasing number of collaborations among manufacturers and rising approvals of new airway devices with extensive presence across the region further boosted the North American market.
Europe is the second largest region for the market in terms of revenue and share with increasing number of emergency hospital visits and inpatient admissions in hospitals owing to the high prevalence of chronic disorders among the population.
Asia Pacific market is expected to have the highest CAGR due to rising prevalence of respiratory disorders which has increased the demand for airway management devices.
Competitive Landscape
Teleflex Incorporated and Medline Industries, Inc. Entered into an Agreement
The market is consolidated with manufacturers such as Smiths Medical (ICU Medical), Teleflex Incorporated, and other prominent players. Market players have been focusing on rising collaborations & acquisitions owing to the high demand for these devices. In May 2021, Teleflex Incorporated and Medline Industries, Inc. signed an agreement for acquiring Teleflex Incorporated’s non-invasive ventilation products (ventilation support through the patient's upper airway using a mask or similar device) and others. This will further boost the company’s financial flexibility for its growth strategy.
List of Key Players Profiled in the Market Report
- Medtronic (Ireland)
- Teleflex Incorporated (U.S.)
- KARL STORZ SE & Co. KG (Germany)
- ICU Medical (U.S.)
- Convatec Group PLC (U.K.)
- Ambu A/S (Denmark)
- Intersurgical Ltd (U.K.)
- VBM Medizintechnik GmbH (Germany)
- VYAIRE MEDICAL INC. (U.S.)
- Flexicare Medical Limited (U.K.)
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Table Of Content :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Prevalence of Chronic Obstructive Pulmonary Disease, By Key Countries, 2020/2021
- Prevalence of Asthma, By Key Countries, 2020/2021
- New Product Launches, by Key Players
- Key Industry Developments -Mergers, Partnerships, & Acquisitions
- Impact of COVID-19 on Global Airway Management Devices Market
- Global Airway Management Devices Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Type
- Infraglottic Airway Management Devices
- Tracheostomy Tubes
- Endotracheal Tubes (ETTS)
- Supraglottic Airway Management Devices
- Oropharyngeal Airways (OPAS)
- Laryngeal Mask Airways (LMAS)
- Nasopharyngeal Airways
- Laryngoscopes
- Others
- Infraglottic Airway Management Devices
- Market Analysis, Insights and Forecast – By Application
- Anesthesia
- Emergency Medicine
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals & ASC’s
- Home Care
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Market Analysis, Insights and Forecast – By Type
- North America Airway Management Devices Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Type
- Infraglottic Airway Management Devices
- Tracheostomy Tubes
- Endotracheal Tubes (ETTS)
- Supraglottic Airway Management Devices
- Oropharyngeal Airways (OPAS)
- Laryngeal Mask Airways (LMAS)
- Nasopharyngeal Airways
- Laryngoscopes
- Others
- Infraglottic Airway Management Devices
- Market Analysis, Insights and Forecast – By Application
- Anesthesia
- Emergency Medicine
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals & ASC’s
- Home Care
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- By Application
- Canada
- By Application
- U.S.
- Market Analysis, Insights and Forecast – By Type
- Europe Airway Management Devices Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Type
- Infraglottic Airway Management Devices
- Tracheostomy Tubes
- Endotracheal Tubes (ETTS)
- Supraglottic Airway Management Devices
- Oropharyngeal Airways (OPAS)
- Laryngeal Mask Airways (LMAS)
- Nasopharyngeal Airways
- Laryngoscopes
- Others
- Infraglottic Airway Management Devices
- Market Analysis, Insights and Forecast – By Application
- Anesthesia
- Emergency Medicine
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals & ASC’s
- Home Care
- Others
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- Germany
- By Application
- Spain
- By Application
- France
- By Application
- Italy
- By Application
- U.K.
- By Application
- Rest of Europe
- By Application
- Germany
- Market Analysis, Insights and Forecast – By Type
Toc Continue…
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Frequently Ask Question :
How much is the big airway management devices market ?
=> Fortune Business Insights says that the global market size was USD 1.81 billion in 2021 and is projected to reach USD 2.55 billion by 2029.
Who are the top players in this market?
=> Medtronic, Teleflex Incorporated & Smiths Medical (ICU Medical) are major players in the global market.
What are the key factors driving the market?
=> The rising prevalence of respiratory diseases and the increasing R&D for technologically advanced products across the globe are the key factors driving the market growth.
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