Portland, OR, Dec. 15, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global coated endotracheal tube market generated $126.13 million in 2020, and is anticipated to reach $237.99 million by 2030, manifesting a CAGR of 6.5% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
Increase in the number of surgical procedures across the globe, increase in the geriatric population, rise in chronic diseases, and benefits of coated endotracheal tubes fuel the global coated endotracheal tube market. On the other hand, lack of skilled professionals and the post-operative risks of laparoscopy surgeries hinders the market. On the contrary, high growth potential in developing economies creates lucrative market opportunities.
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COVID-19 Impact Analysis-
- As the endotracheal tube was widely used for ventilation during the pandemic this added to the growth of the global coated endotracheal tube market.
- To maintain social distancing, various countries across the world have adopted nationwide lockdowns causing a decline in the production of the tube.
- Lockdown and travel restrictions have also caused interrupted supply chains during the pandemic affecting the production and supply of endotracheal tubes to the market.
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The report segments the global coated endotracheal tube market on the basis of intubation, application, end user, and region. Based on intubation, the orotracheal intubation segment contributed to the highest market share in 2020, attributing to more than three-fifths of the total market share, and is anticipated to dominate the market during the forecast period. The segment is expected to manifest the fastest CAGR of 6.7% from 2021 to 2030. The report also covers the nasotracheal intubation segment.
Based on application, the anesthesia segment contributed to the highest market share in 2020, attributing to nearly three-fifths of the total market share, and is anticipated to lead during the forecast period. On the other hand, the emergency medicine segment is expected to manifest the fastest CAGR of 7.2% from 2021 to 2030.
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Based on region, North America contributed to the highest share in 2020, holding more than two-fifths of the total share, and is expected to lead during the forecast period. The global coated endotracheal tube market across the Asia-Pacific region is anticipated to exhibit the fastest CAGR of 7.3% during the forecast period.
Key players of the global coated endotracheal tube market analyzed in the research include Avanos Medical, Bactiguard Holding AB, Hospiteknik Healthcare, Fuji Systems Corp., Smiths Medical Plc., N8 Medical LLC, Medtronic, Sharklet Technologies, Inc., Teleflex Incorporated, and Venner Medical.
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