According to a recent report by Future Market Insights (FMI), the global airway management devices market is projected to experience significant growth, reaching USD 2.2 billion by 2033, up from USD 1.6 billion in 2023. This growth is attributed to a compound annual growth rate (CAGR) of 3.6% over the forecast period, signaling a promising future for the sector. With a market value of USD 1.5 billion in 2022, the industry is expected to witness an absolute dollar growth of USD 668.5 million.
Key drivers behind this growth include the escalating global prevalence of respiratory disorders. The World Health Organization (WHO) reports that approximately 65 million people suffer from moderate-to-severe Chronic Obstructive Pulmonary Disease (COPD), the third leading cause of death globally. This increase in respiratory conditions has significantly heightened the demand for effective airway management solutions.
In addition, the rising number of surgical procedures requiring anesthesia is further fueling market demand. Airway management devices are crucial in both emergency and long-term care settings, spanning all age groups—from pediatric to adult patients. These devices are vital in improving patient outcomes, particularly in critical care environments.
“We anticipate continued growth in the airway management devices market as healthcare providers seek innovative solutions to meet the rising demand for respiratory care,” said an FMI. “Our analysis indicates substantial opportunities for market players to develop and introduce advanced technologies aimed at enhancing patient outcomes.”
Geographically, North America and Europe are expected to maintain dominance due to their strong healthcare infrastructure and high healthcare spending. However, the Asia-Pacific region is anticipated to witness rapid market growth, fueled by improved healthcare access and growing awareness of respiratory health.
This optimistic market outlook presents a wealth of opportunities for innovation and investment in airway management devices, as the sector evolves to address the global challenges posed by respiratory health issues.
Key Takeaways:
- The market is estimated to drive due to increased demand for emergency and intensive care.
- The rise in the prevalence of respiratory diseases is likely to drive the growth of the market for airway management devices.
- The airway management devices market is expected to be worth USD 1.6 billion in 2023.
- Airway management devices market is forecasted to register a 3.6% CAGR from 2023 to 2033.
- North America is likely to dominate the market for airway management devices market.
Rising Interest in Market Trends: Our Detailed Report Provides Essential Insights!
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.
Key Companies Profiled:
- 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
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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