The global Airway Management Devices Market is estimated to be valued at US$ 1,949.53 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Airway management devices are used for respiratory support in patients with airway obstructions or with distressed breathing patterns. These include devices such as laryngeal mask airways, tracheostomy tubes, tracheal tubes, and intubation tubes, among others. Intubation tubes are primarily used to establish and maintain a patent airway for patients undergoing surgical and non-surgical emergency procedures and aid ventilation during general anesthesia.
Market key trends:
One of the key trends in the airway management devices market is the increasing adoption of video laryngoscopes. Video laryngoscopes are advanced devices that are integrated with high-definition cameras allowing improved visibility during intubation procedures. They offer advantages such as higher success rate for intubation on the first attempt and faster intubation time than conventional laryngoscopes. The improved visibility helps avoid multiple intubation attempts and reduces complications. This makes video laryngoscopes a preferred choice among anesthesia providers and is expected to drive their higher adoption over the forecast period.
SWOT Analysis
Strength: Airway management devices offer effective solutions for establishing and securing an airway during respiratory failures or cardiopulmonary arrest. They help in oxygenation and ventilation of patients.
Weakness: Higher costs associated with advanced airway management devices limit their widespread adoption. Lack of skilled professionals to perform procedures using these devices in developing regions.
Opportunity: Rising prevalence of chronic respiratory diseases and growing geriatric population prone to respiratory failures drive the demand for airway management devices. Increasing availability of portable devices also provides an opportunity.
Threats: Alternative less invasive airway management techniques may evolve and replace convention devices. Stringent regulatory approvals delay market entry of new devices.
Key Takeaways
The Global Airway Management Devices Market Share is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing prevalence of respiratory diseases. Chronic obstructive pulmonary disease (COPD) affected over 251 million people globally in 2016. Rise in tobacco smoking and air pollution are key drivers for higher COPD burden.
Regional analysis:
North America dominated the airway management devices market in 2022 and is expected to continue its dominance over the forecast period. This is attributed to growing geriatric population susceptible to respiratory disorders in the US and Canada. According to the Centers for Disease Control and Prevention, over 16 million Americans suffer from COPD. However, Asia Pacific is anticipated to witness fastest growth during the analysis period due to rapidly developing healthcare infrastructure and increasing healthcare spending in China and India.
Key players operating in the Airway Management Devices are Medtronic PLC, ICU Medical, Inc., Viggo Medical Devices, Teleflex Incorporated, Olympus America, Polymedicure,Verathon Inc., SourceMark, SunMed, KARL STORZ, Flexicare Group Limited, and Vyaire Medical. Major players are focused on partnerships, new product launches, and expandingpresence in developing markets to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it