Luton, Bedfordshire, United Kingdom, March 14, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Airway Management Devices Market.
The Global airway management devices market is expected to grow at more than 7.6% CAGR from 2020 to 2028. It is expected to reach above USD 4.03 billion by 2028 from a little above USD 2.10 billion in 2019.
Airway Management Devices Market Growth in upcoming years
The airway management devices market share growth has also been impacted by an increase in funds provided by the federal government to promote the adoption of airway management medical devices. The airway management devices market revenue also benefits from the increase in healthcare spending, improvements in the healthcare infrastructure, and an increase in the need for extended care delivery. Furthermore, with aging, the respiratory system changes geometrically, physiologically, and immunologically.
The structural abnormalities include chest wall and thoracic spine deformities, which affect whole respiratory system compliance, resulting in airway inflammation. The high frequency of respiratory illnesses and increase in anesthetic usage as a result of more surgeries are predicted to drive demand for airway management devices and positively impact the growth of the global market. In addition, significant players are forming strategic alliances to expand the airway management device market, encouraged by technological breakthroughs. This factor is expected to create several opportunities for the key players in the airway management devices market growth.
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Drivers
Most patients with infectious, chronic, and cardiac illnesses experience problems along the path to receiving diete therapy. Similarly, pats suffering from significant ailments or who have been in a car accident require an immediate ay clearance for their safety. The need for airway devices is quickly expanding as a result of the increased growth in such cases. Because of a shortage of oxygen and respiratory failure, the requirement for ventilation continues to rise.
Opportunity:
The supraglottic segment is anticipated to grow at an exponential CAGR during the forecast period. The growing demand for these products is presumed to be a consequence of its associated benefits. The most significant benefit includes easy tracheal placement resulting in enhanced patient safety, which is believed to drive the preference of patients as well as anaesthesiologists toward these devices. Single-use devices are frequently and mostly used common devices in airway management.
COVID-19 Impact
The COVID-19 pandemic has positively impacted various industries such as medicine, which has led to a drastic increase in medical sales. As airway management devices are widely used to alleviate upper airway obstruction caused by tonsillar or adenoidal hypertrophy, or normal pharyngeal tissue obstruction, as often occurs in small infants, there was a significant rise in the airway management device demand globally.
Competitive Insight
Some of the notable market players operating in the global Airway Management Devices Market covered in this report are:
Medtronic, Smiths Medical, Teleflex, Ambu, KARL STORZ, Flexicare.
Recent Developments
- DUBLIN, Oct. 24, 2022 -- Medtronic plc (NYSE:MDT), a global leader in healthcare technology, announced its intention to pursue a separation of the company's combined Patient Monitoring and Respiratory Interventions businesses ("NewCo"), which are part of the company's Medical Surgical Portfolio.
- COLUMBIA, Md. November 29, 2021 -- Ambu Inc., the world leader in single-use endoscopes, announced today that it has been awarded a contract in the category of Video Laryngoscopes with Vizient Inc., the largest healthcare performance improvement company in the U.S. representing more than half of the hospitals and health systems in the U.S and serving 97 percent of the nation’s academic medical centers.
- EL SEGUNDO, Calif. May 01, 2018 -- KARL STORZ Endoscopy-America, Inc., a leader in endoscopy solutions and related technologies, has been awarded a contract for its advanced Video Laryngoscopy products by Premier Inc., a leading healthcare performance improvement company. The effective date of the three-year multi-source agreement was March 1, 2018, according to the companies.
| Attributes | Value |
| Airway Management Devices market Share (2022) | US$ 2.10 billion |
| Airway Management Devices market Projected Size (2029) | US$ 4.03 billion |
| Airway Management Devices market Growth (CAGR 2023-2029) | 7.6% |
Browse the full “Airway Management Devices Market by Type (Infraglottic Airway Management Devices, Supraglottic Airway Management Devices, Resuscitators, Laryngoscopes, Other Airway Management Devices), by Patient Age (Adult Patients, Pediatric Patients/Neonates), by End User (Operating Rooms, Emergency Care Departments, Intensive Care Units, Other End Users), and by Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global Trends and Forecast from 2019 to 2028” Report and TOC at https://exactitudeconsultancy.com/reports/1131/airway-management-devices-market/
Segment Overview
The Airway Management Devices market is segmented By Product Type, By End User, and by Application.
| By Product Type | By Application | By End User |
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Regional Insights
North America has a highly developed healthcare system, a large number of well-known vendors, an expanding number of healthcare facilities, an increase in the prevalence of chronic respiratory diseases, and favorable government initiatives for airway management devices can all be used to describe the large share of this market segment.
The U.S. market will witness significant growth over the forecast period, owing to the presence of favorable reimbursement policies, rising R&D expenditure in the healthcare sector, and the increasing prevalence of COPD and chronic disorders. As per the WHO's statistics, around 12.7 to 14.7 million adults suffer from COPD in the U.S.Furthermore, the strong presence of market players will boost the market growth in North America
Quantitative Analysis
- Market size, estimates, and forecasts from 2023 - 2029
- Market size and revenue estimates for product up to 2029
- Market revenue estimates for application up to 2029
- Market revenue estimates for type up to 2029
- Regional market size and forecast up to 2029
- Company financial
What are the Key Data Covered in this Airway Management Devices Market Report?
- CAGR of the market during the forecast period 2023-2029
- Detailed information on factors that will drive Airway Management Devices Market growth during the next Six years
- Precise estimation of the Airway Management Devices Market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour
- The growth of the Airway Management Devices industry across North America, Europe, APAC, South America, the Middle East, and Africa
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of Airway Management Devices Market vendors
To know an additional revised 2023 list of market players, request a sample report:
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