The airway management devices market is projected to reach USD 2.0 billion by 2024 from USD 1.6 billion in 2019, at a CAGR of 5.1%
NEW YORK, Oct. 30, 2019 /PRNewswire/ --
The airway management devices market is projected to grow at a CAGR of 5.1% during the forecast period (2019-2024).
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The airway management devices market is projected to reach USD 2.0 billion by 2024 from USD 1.6 billion in 2019, at a CAGR of 5.1%. The growth of the airway management devices market is driven mainly by the rising prevalence of chronic respiratory diseases; increasing demand for emergency care; high incidence of preterm births; growth in investments, funds, and grants by government bodies for improving emergency care infrastructure. Also, emerging economies (such as China, India, Brazil, and Mexico) are expected to offer lucrative growth opportunities for market players in the airway management devices market. However, factors such as the harmful effects of certain devices on neonates, the dearth of skilled professionals, and increasing pricing pressure on market players are adversely impacting the growth of the market.
By type, the endotracheal tubes segment accounted for the largest share of the infraglottic airway management devices market
Based on type, infraglottic airway management devices are further segmented into endotracheal tubes and tracheostomy tubes.In 2018, the endotracheal tubes segment accounted for the largest share of the infraglottic devices market.
The large share of this segment is attributed to factors such as the high incidence of respiratory diseases and high preference for endotracheal tubes by medical professionals.
By type, the laryngeal mask airways segment accounted for the largest share of the supraglottic airway management devices market
Based on type, the supraglottic airway management devices market is segmented into laryngeal mask airways, oropharyngeal airways, nasopharyngeal airways, and other supraglottic devices.In 2018, the laryngeal mask airways segment accounted for the largest share of the global supraglottic airway management devices market.
The rising incidence of road accidents, preterm births, and chronic diseases, along with the availability of variants in LMA devices, is likely to increase the demand for LMAs in the coming years.
By type, the conventional laryngoscopes segment accounted for the largest share of the laryngoscopes market
Based on type, the laryngoscopes market is segmented into conventional laryngoscopes and video laryngoscopes.In 2018, the conventional laryngoscopes segment accounted for the largest share of the global laryngoscopes market.
This can be attributed to the rising need for intubation and the growing burden of respiratory complications due to rising pollution and chronic respiratory disease prevalence and lower cost of conventional laryngoscopes.
Asia Pacific is expected to witness the highest growth during the forecast period.
North America is expected to account for the largest share of the global airway management devices market in 2019, followed by Europe.However, the Asia Pacific is expected to witness the highest CAGR during the forecast period.
This can be attributed to the presence of high-growth markets such as Japan, China, India, South Korea, Taiwan, Australia, and Singapore; rapid growth in the geriatric population; increasing demand for critical care units; supportive reimbursement policies in Japan; the implementation of favorable government initiatives; growing per capita income; increasing investments in the healthcare industry by key market players; rising demand for cutting-edge technologies; and the expansion of private-sector hospitals to rural areas.
A breakdown of the primary participants referred to for this report is provided below:
-- By Company Type: Tier 1-55%, Tier 2-25%, and Tier 3-20%
-- By Designation: C-level-43%, Director-level-32%, and Others-25%
-- By Region: North America-38%, Europe-29%, Asia Pacific-23%, Rest of World-10%
The prominent players in the airway management devices market are Medtronic (Ireland), Smiths Medical (US), Teleflex (US), Ambu (Denmark), KARL STORZ (Germany), Flexicare (US), Verathon (US), Intersurgical (UK), SunMed (US), Vyaire Medical (US), VBM Medizintechnik (Germany), SourceMark (US), and Salter Labs (US).
Research Coverage:
The report analyzes the airway management devices market and aims at estimating the market size and future growth potential of the airway management devices market and the different segments such as supraglottic airway management devices, infraglottic airway management devices, laryngoscopes, resuscitators, and other airway management devices. The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a greater share. Firms purchasing the report could use one, or a combination of the below mentioned five strategies for strengthening their market presence.
This report provides insights on the following pointers:
-- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the airway management devices market.
-- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the airway management devices market.
-- Market Development: Comprehensive information on lucrative emerging regions.
-- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global airway management devices market.
-- Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and products of the leading players in the airway management devices market.
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