The Airway Management Devices Market Revenue is anticipated to be valued US$ 1.6 billion in 2023, with total revenue increasing at a 3.6% CAGR between 2023 and 2033, reaching US$ 2.2 billion.
Airway Management Devices market was valued at US$ 1.5 billion in 2022, with a 3.2% CAGR predicted throughout the forecast period. The global market’s absolute dollar growth is $668.5 million.
The rising prevalence of respiratory ailments is expected to be a major market driver. The WHO estimates that 65 million people have moderate-to-severe COPD. Furthermore, COPD is expected to be the third biggest cause of death in the world.
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This high incidence, combined with an increase in anaesthetic use as a result of frequent surgeries, is expected to drive demand for advanced equipment, positively impacting overall market growth. Market growth is predicted to be driven by increased demand for emergency treatment for chronic illnesses, as well as long-term therapy for lung anomalies in children and adults.
Rising awareness of inadequate ventilation, as well as the introduction of reasonably enhanced preoperative airway diagnostic protocols, are predicted to increase the possibility of product penetration in the coming years. Preoperative endoscopic airway evaluation (PEAE), for example, aids in the detection and prediction of blocked ventilation, as well as the development of an appropriate treatment strategy that emphasises the use of current equipment such as supraglottic airway.
Key Takeaways
- The industry is likely to be driven by increased demand for emergency and intensive care.
- The increasing prevalence of respiratory illnesses is projected to drive the Airway Management Devices market forward.
- The market for Airway Management Devices is expected to be worth US$ 1.6 billion in 2023.
- Between 2023 and 2033, the market for Airway Management Devices is estimated to increase at a 3.6% CAGR.
- North America is likely to lead the market for Airway Management Devices.
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Competitive Landscape
The global market for Airway Management Devices is highly concentrated, with a limited amount of large-scale vendors controlling the majority of market share. Key participants in the global market include:
- Medtronic Plc
- Teleflex Incorporated
- Ambu A/S
- Smith’s Group plc.
- Intersurgical Ltd.
- Cook Medical Inc.
- SunMed
- Vyaire Medical Inc
- VBM Medizintechnik GmbH
- Karl Storz SE & Co. KG
- Cook Gas LLC
- Flexicare (Group) Limited
- BVLM Pty Ltd
- Boston Medical Products Inc. (BESS GROUP)
- Salter Labs
Recent Developments:
- Verathon Inc. introduced the GlideScope Core 15 airway visualisation system in January 2020, which employs a 15-inch high-definition touchscreen monitor to provide improved visibility.
- In January 2020, Smiths Medical, Inc. announced the expansion of its Portex Tracheostomy Tubes and Kits line by releasing a PVC-based tracheostomy tube range. The portfolio includes BLUperc, BLUselect tracheostomy tubes, and BLUgriggs percutaneous tracheostomy kits and trays.
- Olympus Corporation, a global technology leader in inventing and delivering new solutions for surgical and medical procedures, among other core activities, announced the release of two video rhino-laryngoscopes in September 2019. It is proposed that the ENF-VH2/V4 be specially constructed for laryngological tests.
- In September 2018, Royal Philips announced the development of a resuscitation device in conjunction with the Consortium for Affordable Medical Technologies (CAMTech) to aid in the reduction of infant mortality.
- In January 2019, Oventus Medical, a medical device business, unveiled O2 Vent Optima, a new product. It is used to treat obstructive sleep apnea. It is based on the airway technology developed by Oventus Medical. It keeps the airway from contracting and allows for unrestricted airflow from the tongue, soft palate, and nose. It is suitable for usage with or without continuous positive airway pressure.
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Airway Management Devices Market Key Segments
By Product Type:
- Laryngeal Masks
- Tracheostomy Tubes
- Endotravheal Tubes
- EndoBronhial Tubes
- Nasal Airway Tubes
- Oral Airway Tubes.
By Usage Type:
- Single Use/ Disposable
- Reusable
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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