NEWARK, Del, June 10, 2022 (GLOBE NEWSWIRE) -- The Laryngeal Mask Market is expected to develop at a CAGR of 7.9 % between 2022 and 2032, with revenues projected at US$ 656.4 Mn in 2022. The market is estimated to be worth US$ 1.5 Bn by the end of 2032.
The demand for laryngeal masks is being driven by a rise in the number of surgical procedures as well as an increase in disposable device consumption. Furthermore, the increasing prevalence of chronic illnesses demanding surgery and anesthesia is propelling demand and market expansion. Over 1.3 million surgical operations are performed in Canada each year, according to medico-legal data released by the Healthcare Insurance Reciprocal of Canada (HIROC) and the Canadian Medical Protective Association (CMPA), raising demand for laryngeal masks.
In the coming years, a growth in the number of surgeries for the treatment of respiratory disorders such asthma and chronic bronchitis is expected to enhance the market. The minor increase in the global prevalence of respiratory disorders is expected to generate development opportunities for the market growth throughout the forecast period.
The market for laryngeal masks is predicted to increase as a result of the rising number of uses of disposable laryngeal mask in the market. Throughout the projection period demand for laryngeal mask airway ventilation is expected to increase the demand.
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Key Takeaways from the Market Study
● Global Laryngeal Mask Market is expected to reach a market size of US$706.1 Mn by 2022.
● The Disposable Laryngeal Masks segment, is expected to have the highest CAGR rate of 7.9% during the forecast period.
● United States to remain the most dominant market with absolute dollar growth opportunity of US$ 600.4 Mn during 2022 – 2032.
● The market in Japan is set to experience the highest CAGR of 10.1% during the 2022-2032 forecast period.
“A growth in the number of surgical operations, as well as an increase in disposable device use, are driving demand for laryngeal masks.” comments a Future Market Insights analyst.
Competitive Landscape
- The industry for laryngeal masks is being driven by a rise in medical procedures coupled with an expansion in disposable mask demands. Several mid-size and smaller enterprises are growing their market presence by offering laryngeal masks at cheaper pricing.
- Some of the recent developments of key Laryngeal Mask providers are as follows:
- In February 2021, Ambu A/S announced to expand its single-use endoscopy contracts with two major US Group Purchasing Organizations.
- In May 2019, Ambu A/S signed a strategic partnership with Cook Medical, under which Cook Medical would distribute Ambu's products in the United States.
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Future Market Insights, in its new offering, presents an unbiased analysis of the Laryngeal Mask Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032. The study reveals extensive growth in Laryngeal Mask Market based on Product Type (Reusable Laryngeal Masks, Disposable Laryngeal Masks), Patient (Children, Adult, and Geriatric), End Use (Hospitals & Clinics, Ambulatory Surgical Centres) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Table of Content
1. Executive Summary
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
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
4. Global Laryngeal Masks Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Laryngeal Masks Market Analysis 2017-2021 and Forecast 2022-2032, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) Analysis by Product Type, 2017-2021
5.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast by Product Type, 2022-2032
5.4. Y-o-Y Growth Trend Analysis by Product Type, 2017-2021
5.5. Absolute $ Opportunity Analysis by Product Type, 2022-2032
6. Global Laryngeal Masks Market Analysis 2017-2021 and Forecast 2022-2032, By Patient
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Mn) Analysis by Patient, 2017-2021
6.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast by Patient, 2022-2032
6.4. Y-o-Y Growth Trend Analysis by Patient, 2017-2021
6.5. Absolute $ Opportunity Analysis by Patient, 2022-2032
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