USD 2 billion
Report ID:
SQMIG35B2165 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
91 |
Figures:
76
Airway Management Devices Market size was valued at USD 2 billion in 2022 and is poised to grow from USD 2.32 billion in 2023 to USD 3.62 billion by 2030, at a CAGR of 7.7% during the forecast period (2023-2030).
The rising demand for airway management devices is mostly driven by the rising prevalence of respiratory illnesses and chronic obstructive pulmonary disease (COPD).
According to the World Health Organisation, mild to severe COPD affects 65 million people worldwide, making it the third greatest cause of death worldwide. Additionally, according to information from the Centres for Disease Control and Prevention (CDC), over nine million people in 2018 received a diagnosis of chronic bronchitis.
The rise in the number of operations and the use of anesthesia, both of which require sophisticated technologies, is also blamed for the rise in demand for airway management systems. The necessity for emergency care for chronic illnesses and long-term lung-related therapies for both children and adults are anticipated to further fuel market growth.
The aging population, which is more prone to respiratory diseases, is another factor in the rise in demand for airway control equipment. However, because of poor healthcare insurance programmes, pricey airway control devices are not widely used in developing nations. The World Bank Group estimates that the average cost of healthcare in developing countries is USD 80 per person per year (or USD 0.5 trillion), which has a detrimental effect on the financial status of the poor because universal health coverage is frequently absent.
Players in the market are investing in research and development (R&D) to create clever and distinctive strategies in order to maintain their growth in the market. These tactics include the introduction of new products, mergers and acquisitions, partnerships, collaborations, and the renovation of current technologies.
US Airway Management Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2 billion
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
7.7% CAGR
To get more reports on the above market click here to Buy The Report
The airway management device market is segmented based on device type, end user, and region. By device type, the market is classified into infraglottic devices, supraglottic devices, laryngoscopes, resuscitators, and others. By end user, the market is classified into hospitals, ambulatory care, home care, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Airway Management Devices Market Analysis By Device
In 2022, the sub-segment of infraglottic devices emerged as the dominant segment in the airway management device market, and it is expected to be the fastest-growing segment during the forecast period. Infraglottic devices are designed to create a passage for airflow from the mouth through the glottis and into the trachea. There are various techniques and devices available within the infraglottic category, and the selection of a particular method depends on factors such as the surgeon's experience, accessibility of medical equipment, and the specific injury or disease of the patient.
During the forecast period, the growth of the airway management device market is anticipated to be influenced by these factors, including the expertise and training of healthcare professionals, the availability of advanced medical equipment, and the individual patient's condition. The choice of procedure for airway management will depend on these considerations, and they are expected to have a significant impact on the market size and growth in the coming years.
To get detailed analysis on other segments, Request For Free Sample Report
North America dominated the global market in 2022 and is projected to remain the fastest growing region during the forecast period, due to the prevalence of asthma and chronic obstructive pulmonary disease, as well as the increase in the elderly population. The U.S. Census Bureau reports that as of 2017, more than 50 million Americans aged 65 and older were at the highest risk of developing chronic conditions. In North America, two important countries where such airway management devices have been widely adopted are the U.S. and Canada. The main causes of the rising need for airway management devices market forecast in North America are the rise in pollution rate and the increase in occurrences of respiratory problems, even in neonatal care. Increase in healthcare R&D spending, and the rising incidence of chronic diseases such as COPD, the U.S. market will experience considerable expansion during the forecast period due to favorable reimbursement policies.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Airway Management Devices Market Drivers
Need to Address The Growing Respiratory Diseases
Airway Management Devices Market Restraints
High Cost and Limited Adoption
Request Free Customization of this report to help us to meet your business objectives.
The existence of several major manufacturers competing for a sizable market share defines the competitive landscape of the airway management devices industry. To improve their market position, the businesses concentrate on developing innovative products, forming strategic alliances, and making acquisitions. They make significant investments in R&D to bring forth technologically cutting-edge and user-friendly airway management equipment. The businesses also participate in marketing campaigns and distribution alliances to broaden their reach internationally and boost their clientele. Additionally, new firms are entering the market, which increases competition.
Airway Management Devices Market Top Player’s Company Profiles
Airway Management Devices Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the airway management devices market is expected to witness promising growth in the coming years. The need for airway management devices is being driven by factors such an increase in surgical operations, an increase in the prevalence of respiratory disorders, and improvements in healthcare infrastructure. The ageing population and greater understanding of the value of airway control in critical care settings are further factors driving market growth. The market is anticipated to rise as a result of technological developments such the creation of novel airway devices and the use of minimally invasive procedures.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 2 billion |
Market size value in 2031 | USD 3.62 billion |
Growth Rate | 7.7% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Airway Management Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Airway Management Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Airway Management Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Airway Management Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Product ID: SQMIG35B2165