Airway management devices are medical instruments used for establishing and maintaining a clear airway and proper breathing in patients undergoing anesthesia during surgical procedures or suffering from respiratory emergencies. These devices help in administering general anesthesia to patients, providing oxygenation, and removing secretions from the lung during respiratory therapy. They are extensively used during emergency care, intensive care, and during surgery in hospitals. The global Airway Management Devices Market is estimated to be valued at US$ 1949.53 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing adoption of multi-lumen airway tubes is expected to drive the airway management devices market during the forecast period. Multi-lumen tubes help in providing ventilation and oxygenation through one lumen while suctioning secretions and collecting samples through the other lumen, which reduces the need for frequent intubation. They offer benefits such as better secretion management and placement control. Additionally, fewer intubations decrease the risk of infection and trauma to the patient’s airways. Leading players are focused on developing multi-lumen tubes to cater to the increasing demand. For instance, Medtronic offers LaserCut multi-lumen tubes which are laser-cut and have precision side holes for effective ventilation and suctioning.
SWOT Analysis
Strength: Airway management devices help in efficient management of airways during respiratory emergencies and ensure adequate oxygen supply. They offer reliable solutions to patient care during anesthesia administration and intensive care.
Weakness: High costs associated with advanced airway management devices limit their widespread adoption, especially in price-sensitive developing regions. Lack of skilled professionals further impact the effective use of certain specialized airway management equipment.
Opportunity: Increasing incidence of chronic respiratory diseases along with rising number of surgical procedures requiring general anesthesia are driving the demand for airway management devices. Growing healthcare expenditures in emerging nations also present new revenue avenues.
Threats: Presence of local manufacturers offering low-cost alternatives pose pricing pressure on major players. Stringent regulatory approvals and replacement of conventional products with advanced alternatives also challenge the existing market landscape.
Key Takeaways
The Global Airway Management Devices Market Share is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising prevalence of respiratory disorders, growing elderly population undergoing surgical interventions, and increasing healthcare spending worldwide.
Regional analysis: North America currently dominates the market and is anticipated to maintain its lead position through 2030 due to high adoption of technologically advanced devices and well-established healthcare infrastructure in the region. Asia Pacific is projected to emerge as the fastest growing regional market owing to expanding healthcare facilities, rapid economic development and improving access to care.
Key players analysis: Key players operating in the airway management devices market are Medtronic PLC, ICU Medical, Inc., Viggo Medical Devices, Teleflex Incorporated, Olympus America, Polymedicure, Ambu A/S., Verathon Inc., SourceMark, SunMed, KARL STORZ, Flexicare (Group) Limited, and Vyaire Medical. They are engaged in new product development and commercialization to strengthen their market position.
