DUBLIN--(BUSINESS WIRE)--The "Global Airway Management Devices Market Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global 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.
Growth in this market is majorly driven by the growing prevalence of chronic respiratory diseases such as asthma and COPD, increasing admissions across emergency & intensive care units, rise in geriatric population, favorable reimbursement coverage across developed countries, high incidence of pre-term births and the growing investments in healthcare infrastructure.
The growing adoption of single-use and disposable airway management devices is offering lucrative 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 substantial growth opportunities for the vendors in the market.
However, growing pricing pressure on market players. dearth of skilled professionals, harmful effects of certain airway management devices on neonates, and lack of reimbursement policies across emerging countries are expected to hamper the growth of this market during the forecast period.
Based on type, the infraglottic devices segment holds the largest market share during the forecast period.
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. Growing demand for positive air pressure ventilation among the patients facing respiratory failure is driving the intubation procedures globally.
The Infraglottic devices such as endotracheal tubes and tracheostomy tubes are significantly used during intubation for providing ventilation support through connecting with external breathing assistance systems such as mechanical ventilators.
Additionally, rise in prevalence of cardiovascular diseases, chronic respiratory diseases and respiratory tract infections are increasing the incidence of acute respiratory failure, which is driving the demand of intubation procedures and Infraglottic devices globally.
Based on application, the anesthesia segment is expected to register the highest CAGR during the forecast period
Based on application, the anesthesia segment commanded the largest share in 2020 and is expected to show highest growth rate during the forecast period. This can be attributed to the rising number of surgical interventions and increasing need for maintaining a safe breathing passage to lower the risk of anesthesia-related complications during surgery. As a result thus the use of airway management devices for airway rescue and ventilation across surgical settings is increasing rapidly.
Based on patient age, the adult patients segment is expected to register the highest CAGR during the forecast period
Based on patient age, the airway management devices market is segmented into adult patients and paediatric/neonatal patients. The surging incidence of pre-term births globally have surged the use of airway rescue systems among infants.
Moreover, vendors are increasingly offering advanced airway management devices of varied size and shape that are indicated for use across paediatric/neonatal patients. This has eased the availability of such devices, thereby contributing to the rapid growth of paedicatric/neonatal segment.
Based on end-user, the adult patients segment holds the largest market share during the forecast period
The airway management devices market is segmented into hospitals, ambulatory care settings, home care settings and others. The hospital segment dominates the market share in 2020. Hospitals have well developed and modernized infrastructure to support airway management procedures.
Moreover, the airway management devices are extensively used across operating rooms, emergency care departments and intensive care units across these settings. As a result, the hospital segment accounts for a leading share in the airway management devices market. Moreover, the number of hospitals is increasing globally, especially in emerging countries, which is supporting the high revenue growth in the segment.
North America is expected to account 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 attributed to the presence of significant number of prominent vendors, highly developed healthcare system, rising prevalence of chronic respiratory diseases, the increasing number of healthcare settings, and and favorable reimbursement policies for airway management devices.
The prominent players in this market are Medtronic plc (Ireland), Smiths Medical Inc. (US), Ambu A/S (Denmark), Teleflex Inc. (US), ConvaTec Group (UK), KARL STORZ SE & Co. KG (Germany), Flexicare (Group) Ltd. (UK), SunMed LLC (US), Vyaire Medical Inc. (US), Intersurgical Ltd. (UK), VBM Medizintechnik GmbH (Germany), Verathon Inc. (US), SourceMark LLC (US), Mercury Enterprises Inc. (US), and TRACOE Medical GmbH (Germany).
Premium Insights
- Increasing Cases of Chronic Respiratory Diseases and Growing Developments in Healthcare Infrastructure to Drive Growth
- Adult Patients Accounted for the Largest Share of the North America Airway Management Devices Market in 2020
- India to Register the Highest Revenue Growth During the Forecast Period
- North America Will Continue to Dominate the Airway Management Devices Market During the Forecast Period
- Developing Markets to Register a Higher Growth Rate During the Forecast Period
Market Dynamics
Drivers
- Rising Prevalence of Chronic Respiratory Diseases
- Increasing Demand for Emergency and Intensive Care
- Growing Incidence of Pre-Term Births
- Government Support for Improving Emergency Care Infrastructure
Restraints
- Lack of Reimbursement Policies Across Developing Countries
Opportunities
- Growing Demand for Single-Use Airway Management Devices
- Growth Potential in Emerging Countries
Challenges
- Harmful Effects of Certain Devices on Neonates
- Dearth of Skilled Professionals
- Increasing Pricing Pressure on Market Players
Companies Mentioned
- Ambu A/S
- Armstrong Medical (Eakin Healthcare Group)
- Convatec Group
- Flexicare
- Intersurgical
- Karl Storz SE & Co. KG
- Medtronic
- Mercury Enterprises
- Nihon Kohden Corporation
- Olympus Corporation
- Shenzhen Hugemed Medical Technical Development Co. Ltd.
- Smiths Medical (Smiths Group plc)
- Sourcemark LLC
- SunMed
- Teleflex Inc.
- Tracoe Medical GmbH
- VBM Medizintechnik
- Venner Medical International
- Verathon
- Vyaire Medical
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