Airway Management Devices Market to reach USD 2.5 billion by 2026
(I-BusinessNews.Com, August 29, 2021 ) The airway management devices market is projected to reach USD 2.5 billion by 2026 from USD 1.9 billion in 2021, at a CAGR of 5.8% during the forecast period. Increasing admissions across emergency & intensive care units, increasing prevalence of chronic respiratory diseases such as asthma and COPD, rise in geriatric population, growing investments in healthcare infrastructure, favorable reimbursement coverage across developed countries, and the high incidence of pre-term births are driving the significant revenue growth in the market. The adoption of single-use airway management devices have increased considerably, which is offering significant growth opportunities to the vendors. Moreover, rising demand for airway management devices across emerging countries, due to rise in surgical procedures is also presenting a significant growth opportunities for the vendors in the market.
The Infraglottic devices is expected to dominate the type segment in airway management devices market Based on the type of airway management devices, the infraglottic devices segment accounted for the largest share of the global airway management devices market in 2020. The large share of this segment can be attributed to the increasing demand for positive air pressure ventilation among the patients facing respiratory failure is driving the demand for intubation. The infraglottic devices such as endotracheal tubes and tracheostomy tubes are used during intubation for rescuing airway and provide ventilation after connecting with external breathing assistance systems. Additionally, rise in prevalence of chronic respiratory diseases, cardiovascular diseases, and respiratory tract infections are increasing the incidence of acute respiratory failure, thereby driving the demand of intubation procedures and infraglottic devices globally.
The anesthesia segment is expected to account for the largest share of the airway management devices market, by application Based on application, the anesthesia segment commanded the largest share in 2020. The large share of this segment can be attributed to the increasing growth in the number of surgical interventions globally, that require the patients to be provided with anesthesia. Furthermore, increasing need for maintaining a safe breathing passage to lower the risk of anesthesia-related complications during surgery is also driving the use of airway management devices during anesthesia procedures.
The paediatric patient segment is expected to grow at the highest rate during the forecast period The airway management devices market is segmented into adult patients and paediatric/neonatal patients based on patient age. The paediatric/neonatal patients segment is expected to grow at the highest CAGR in the airway management devices market during the forecast period. Airway management is primarily required during pre-term birth events where the newborn is affected by low lung compliance and breathing difficulty. The increasing cases of pre-term births globally are driving a rapid demand for airway management across pediatric/neonatal patients.
Hospitals end-user segment accounted for the largest share of the airway management devices market, in 2020 The airway management devices market, by end-user, is segmented into hospitals, ambulatory care settings, home care settings and others. The hospital segment accounted for the largest market share in 2020. The large share of this segment can be attributed to the rising number of hospitals and infrastructural & economic development, especially in emerging countries. Additionally, the rising surgical procedures performed-where airway management devices are used for ventilation, oxygenation, and the administration of anesthesia-also supports high growth in the hospitals segment.
North America accounted for the largest share of the airway management devices market in 2020 In 2020, North America accounted for the largest share of the airway management devices market, followed by Europe, Asia Pacific, Latin America, and Middle East & Africa. The large share of this market segment can be characterized by the presence of a highly developed healthcare system, the significant number of prominent vendors, the increasing number of healthcare settings, the rising prevalence of chronic respiratory diseases, and favorable reimbursement policies for airway management devices.
Key Market Players 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).
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