Airway Management Devices Market to Reach at a CAGR 3.2% by 2028
According to the latest research by the company, the global airway management devices market is expected to be valued at US$ 1,816.8 Mn, by 2028 end. The report on the airway management devices market further projects significant growth potential with average year-on-year growth rate pegged at 3.2% through 2028.
The high demand for airway management devices in anesthesia administration is the major factor expected to drive the growth of airway management devices market. Likewise, advancement in pediatric airway management devices is expected to favor the growth of the airway management devices market over the forecast period. Products such as ‘Classic laryngeal mask airway’ and ‘proseal LMA’ are gaining traction in the market for pediatric airway management. Classic LMA has 95–98% efficiency in achieving adequate ventilation in children.
The key market players are focusing on making acquisitions and mergers with other players, which is expected to create lucrative growth opportunities for the manufacturers of airway management devices. In November 2015, Medtronic Plc. completed the acquisition of Aircraft Medical to expand the endotracheal tubes portfolio. Also, the growing adoption of disposable laryngeal masks in pre-hospital settings is also expected to favor the growth of the airway management devices market over the forecast period. The introduction of single/double-lumen endobronchial tube with camera is expected to create a growth opportunity for the airway management devices market. For instance, Ambu A/S offers VivaSight-DL double lumen tube with an integrated high-resolution camera, which makes placement of double lumen tube fast and effective. VivaSight-DL offers continuous visual monitoring throughout the procedure.
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However, complications and limitations associated with airway management devices are expected to impact the growth of the airway management devices market. Moreover, product recalls and safety issues associated with airway management devices are the other factors that are expected to hamper the growth of the airway management devices market.
The company has segmented the global airway management devices market based on product type, usage type, end user and regions. Based on product type, the airway management devices market is segmented into laryngeal masks, tracheostomy tubes, endotracheal tubes, endobronchial tubes, nasal airway tubes, and oral airway tubes. The endobronchial tubes segment is expected to contribute high revenue share in global airway management devices market.
By usage type, the airway management devices market is segmented into single use/ disposable and reusable segment. The single use/disposable segment is expected to contribute high value share in the global airway management devices market. Based on end user, the airway management devices market is segmented into ambulatory surgical centers, hospitals and specialty clinics segment. In terms of revenue, the hospitals segment is projected to hold significant revenue share in the global airway management devices market over the forecast period.
On the basis of region, the global airway management devices market has been segmented into North America, Europe, Latin America, Asia Pacific (APAC) and the Middle East & Africa. North America is expected to contribute large revenue share in the global airway management devices market. The demand for airway management devices has increased in North America due to increasing number of surgical procedures in the U.S. as well as increasing healthcare expenditure. The Asia Pacific (APAC) is expected to witness high growth due to increasing per capita expenditure and number of laparoscopic procedures for respiratory disorders. Europe is expected to contribute second large revenue share in the global airway management devices market.
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The report tracks some of the key companies operating in the global airway management devices market. Representative players included in the report are Medtronic Plc., Cook Medical Inc., Teleflex Incorporated, Smiths Group Plc. Ambu A/S, Intersurgical Ltd, VBM Medizintechnik GmbH., SunMed, Vyaire Medical Inc., Karl Storz SE & Co. KG and others. Manufacturers are focusing on the development of airway management devices to diminish associated complications and limitations, which will create enormous growth opportunities for them over the forecast period.
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