LONDON--(BUSINESS WIRE)--The global tracheostomy products market is projected to grow at a CAGR of nearly 2% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global tracheostomy products market for 2017-2021. Based on the end-users, the market is divided into hospital, home care, and ambulatory surgical center segments.
| A tracheostomy is an opening made into the trachea to permit unrestricted breathing. It is considered as one of the most frequently done surgical procedures in intensive care unit (ICU) patients. The advances in technology have made the procedure extremely safe, with the additional provision of including the new balloon dilation percutaneous dilatational tracheostomy (PDT) technique. |
Technavio’s research study segments the global tracheostomy products market into the following regions:
- Americas
- EMEA
- APAC
Tracheostomy products market in the Americas
“The Americas occupy the largest segment of the tracheostomy products market, owing to the high adoption rate of disposable equipment and an increase in the number of surgical procedures,” says Neha Noopur, a lead analyst at Technavio for orthopedics and medical devices research.
The market in North America is dominated by the key vendors such as Medtronic, Teleflex, and Smiths Medical, which are the most important suppliers of tracheostomy products in the US and Canada. These companies sell their products through its sales force directly to hospitals and hospital purchasing networks.
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Tracheostomy products market in EMEA
The tracheostomy products market in EMEA is expected to grow at a steady rate during the forecasted period, driven by the rising adoption of tracheostomy procedures in hospitals. Also, the strong client relationship with vendors and wide distribution channels is expected to play a vital role in the growth of this market. EMEA market is dominated by the major companies like Medtronic and Teleflex, which are employing strategies such as partnering with the physicians and hospitals to modify or customize the design or quality of the products according to the consumer feedback.
Tracheostomy products market in APAC
“The tracheostomy products market in APAC is expected to grow faster than the other regional segment, due to the swift rise in adoption of the tracheostomy devices in countries such as China, India, Japan, Singapore, South Korea, and Taiwan,” says Neha.
The focus of the vendors in the market is currently towards the development of innovative and technology-driven products. The growing product awareness, coupled with the rising popularity of medical tourism and low labor cost, low component cost, minimal overhead and tooling cost have attracted many companies to invest in the market.
The top vendors in the global tracheostomy products market highlighted in the report are:
- Medtronic
- Smiths Medical
- Teleflex
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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