Chicago, April 20, 2023 (GLOBE NEWSWIRE) -- The airway management devices industry is expected to significantly grow in the coming years due to the increasing demand for advanced medical technologies and the rising prevalence of respiratory diseases. The development of new technologies, such as endobronchial blockers and intubation devices, is expected to drive the growth of the airway management devices industry. Additionally, the increasing need for more efficient and cost-effective solutions for airway management is expected to further fuel the growth of the industry. Furthermore, the rising awareness among healthcare professionals regarding the importance of airway management is likely to drive the market growth. Moreover, the increasing incidence of preterm births and the growing healthcare expenditure are expected to further propel the growth of the airway management devices industry.
Airway Management Devices market in terms of revenue was estimated to be worth $1.9 billion in 2021 and is poised to reach $2.5 billion by 2026, growing at a CAGR of 5.8% from 2021 to 2026 according to a latest report published by MarketsandMarkets™. The growing prevalence of chronic respiratory diseases such as COPD and asthma, favorable reimbursement coverage across developed countries, increasing patient admissions for emergency & intensive care, and the high incidence of pre-term births are driving the revenue growth in the market. Also, increasing growth in healthcare infrastructure development and rising geriatric population is supporting the growth of the market. growing demand for single-use airway management devices and significant growth potential in emerging countries for airway management therapies present significant opportunities for market growth. On the other hand, the harmful effects of certain devices on neonates, dearth of skilled professionals, increasing pricing pressure on market players and lack of reimbursement policies across emerging countries are expected to restrain the growth of this market during the forecast period.
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Airway Management Devices Market Scope:
| Report Coverage | Details |
| Market Revenue in 2021 | $1.9 billion |
| Estimated Value by 2026 | $2.5 billion |
| Growth Rate | Poised to grow at a CAGR of 5.8% |
| Market Size Available for | 2019–2026 |
| Forecast Period | 2021–2026 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, Patient Age, End User |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Growing demand for single-use airway management devices |
| Key Market Drivers | Increasing demand for emergency and intensive care |
Based on type, the airway management devices market is segmented into Infraglottic airway management devices, supraglottic airway management devices, laryngoscopes, resuscitators, cricothyrotomy kits, and other airway management devices (connectors, stylets, endotracheal and tracheostomy tube holders, filters, valves, and monitors. The Infraglottic airway management devices segment accounted for the larger market share in 2020. The large share of this segment can be attributed to their significant use during elective surgeries and emergency care procedures. The Infraglottic devices are further segmented into endotracheal tubes and tracheostomy tubes. The endotracheal tubes dominate the market as endotracheal intubation are less invasive in nature when compared to tracheostomy procedures.
The supraglottic airway management devices are further segment into laryngeal mask airway devices, oropharyngeal airway devices, nasopharyngeal airway devices, and other devices (Combitube and laryngeal tubes). In 2020, the laryngeal mask airways dominate the market owing to rapid advancements in their design and sizes, rise in pre-term births, their ease of use and due to their growing applications in emergency care.
The laryngoscopes are further segment into video laryngoscopes and conventional laryngoscopes. Conventional laryngoscopes have higher adoption among the end-users and dominates the segment owing to their long-term presence and low-cost advantage. However, the adoption of video laryngoscopes is increasing, owing to growing advancements in visualization capabilities and due to safer indirect visualization capabilities, that these devices are offering to the medical practitioners while treating COVID-19 patients.
Based on patient age, the airway management devices market has been categorized into adult patients and pediatric /neonatal patients. Adult patients segment dominates the segment owing to rising geriatric population and owing to progressive nature of chronic respiratory diseases such as COPD. However, significant rise in pre-term births are promoting rapid growth in pediatric/neonatal patients segment.
Based on applications, the airway management devices market is segmented into anesthesia, emergency medicine and others. Anesthesia dominates the application segment in 2020. The rising number of surgical procedures has ensured steady demand for anesthesia equipment, including airway management devices globally.
Based on end users, the airway management devices market is segmented into hospitals, ambulatory care settings, home-care settings, and others (paramedics, standalone ambulance services, firefighters, and defense services). The hospital segment dominates the market as the intubation and definitive airway management procedures are performed in the well-established settings such as hospitals, in presence of highly trained anesthetists. Additionally, the rising growth in the number of emergency care and intensive care beds across hospitals worldwide is also supporting the growth of this segment. Hospitals have been further segmented into operating rooms, emergency care department, and intensive care units. Operating rooms dominates the market, owing to significant growth in surgeries and modernization of operating rooms worldwide.
The North American airway management devices market accounted for the larger market share in 2020. The large share of this market segment can be characterized by the presence of a significant number of prominent players offering airway management devices and favorable reimbursement policies. Additionally, growing geriatric population and increase in acute care and ambulatory care settings has also led to the increase in the demand for airway management devices in North America.
Key Market Players:
The global airway management devices market is consolidated at the top, with a large number of leading market players based in developed countries. The prominent players in this market are Medtronic plc (Ireland), Smiths Medical (UK), Teleflex Inc. (US), Ambu A/S (Denmark), Convatec Group plc (UK), KARL STORZ (Germany), Flexicare (US), Intersurgical Ltd. (UK), SunMed LLC (US), Vyaire Medical (US), VBM Medizintechnik (Germany), Verathon (US), SourceMark (US), Mercury Enterprises (US), TRACOE medical (Germany), Olympus Corp. (Japan), Armstrong Medical (UK), Nihon Kohden Corp (Japan), Shenzen Hugemed Medical Technical Development Co. Ltd. (China), Venner Medical (US). However, in the last few years, a number of smaller players have emerged and are competing with global players based on price and product innovation. Due to the intense competition in the market, major market players are increasingly focusing on expanding their geographic presence into high-growth emerging markets and strengthening their competitiveness in the market by acquiring smaller players with desired technological capabilities or geographic presence.
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Hypothetic Challenges of Airway Management Devices Market in Near Future:
- Increasing competition from generic airway management devices: As market competition intensifies, generic airway management devices will become increasingly available, which may reduce the market share of branded products and make it more difficult for companies to differentiate themselves.
- Growing demand for improved safety and accuracy: With the increasing complexity of airway management procedures, there is a growing demand for more accurate and reliable devices. This will require companies to invest in research and development in order to stay ahead of the competition.
- Challenges posed by new regulations: As airway management devices become more advanced, regulatory bodies may impose more stringent requirements on the design and testing of these products. This could further add to the cost of development and manufacturing, potentially making these devices less accessible to patients.
- Pressure to reduce costs: With healthcare costs continuing to rise, there will be pressure on manufacturers to reduce the cost of airway management devices. This could lead to a race to the bottom in terms of pricing, making it difficult for companies to make a profit.
- Expanding markets: As airway management technology continues to evolve and become more widely adopted, there will be opportunities to expand into new markets and capture additional market share. This could lead to increased competition and pricing pressures.
Top 3 Use Cases of Airway Management Devices Market:
- Anesthesia: Airway management devices such as endotracheal tubes and laryngoscopes are used during anesthesia to maintain a patent airway and facilitate intubation.
- Respiratory Care: Airway management devices such as supraglottic and tracheostomy tubes are used to assist in ventilation and oxygenation in patients with respiratory conditions such as COPD, asthma, and acute respiratory distress syndrome (ARDS).
- Emergency Care: Airway management devices such as laryngoscopes, supraglottic airways, and endotracheal tubes are used in emergency care to ensure a clear airway and facilitate intubation for patients with compromised airways.
Recent Developments:
- In September 2020, VBM Medizintechnik GmbH (Germany) announced to receive 510(k) clearance from US FDA for ScalpelCric kit. The kit is indicated to be used for performing cricothyrotomy procedures using the scalpel technique, as per the recommendation from Difficult Airway Society (DAS) 2015 guidelines.
- In August 2020, Verathon launched the GlideScope Video Baton QC Large, which is a video laryngoscope used with GlideScope Core airway management devices.
- In January 2020, Smiths Medical announced to add a PVC-based tracheostomy tube portfolio in its family of Portex Tracheostomy Tubes and Kits. The portfolio includes BLUselect tracheostomy tubes, BLUperc, and BLUgriggs percutaneous tracheostomy kits and trays.
- In January 2020, VVerathon launched GlideScope Core 15 airway visualization system to deliver enhanced visibility using a 15-inch, high-definition monitor with touchscreen features.
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