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A07466 | Pages: 300 | Charts: 68 | Tables: 111 |
The global airway management devices market size was valued at $2 billion in 2021 and is projected to reach $4.2 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031. An airway management device is majorly used by medical practitioners to keep patients' airways open. The device enables gas exchange between the lungs and the outside air by keeping the patient's airway route open. In hospitals, a variety of devices are used to deliver airways for patients receiving anesthesia, including oropharyngeal airways, nasopharyngeal airways, laryngeal mask airways, and tracheal incubation.
[COVIDIMPACTSTATEMENT]
The prevalence of respiratory and chronic obstructive pulmonary disease (COPD) are the main factors driving the rise in demand for airway management devices. The World Health Organization estimates that 65 million individuals worldwide suffer from mild to severe COPD. According to CDC (Centers for Disease Control and Prevention) data, over nine million people had chronic bronchitis diagnoses in 2018, making COPD the third-leading cause of mortality worldwide. The demand for cutting-edge technologies is expected to rise as a result of the increase in surgeries and anesthetic use. According to projections, long-term lung-related therapies for both children and adults, as well as the increase in demand for emergency care for chronic illnesses, will further drive the market expansion. The significant increase in the elderly population, which is more susceptible to respiratory disorders, is also a major factor responsible for the increase in demand for airway management devices market growth.
Developing countries have low adoption rates for expensive airway management devices due to their ineffective healthcare insurance programs. For instance, the World Bank Group estimates that the average cost of healthcare in developing nations is $80 per person annually (or $0.5 trillion). Such expenses have had a negative influence on the poor's financial situation across developing countries due to the lack of support for universal health coverage.
The industry players are investing on the R&D of smart and unique strategies to sustain their growth in the market. These strategies include product launches, mergers & acquisitions, collaborations, partnerships, and refurbishing of existing technology. In October 2020, the commercial release of HANAROSTENT Esophagus TTS self-expanding metal stents (SEMS), created by the Massachusetts Institute of Technology and offered only by Olympus in the U.S., was announced by Olympus Corporation. Furthermore, on May 13, 2022, Medtronic plc, a global leader in healthcare technology, announced that it has completed the acquisition of Intersect ENT, expanding the company's comprehensive ear, nose, and throat (ENT) portfolio with innovative products used in sinus procedures to improve post-operative outcomes and to treat nasal polyps.
The airway management device market is segmented on the basis of device type, patient age, end user, and region. By device type, the market is classified into infraglottic devices, supraglottic devices, laryngoscopes, resuscitators, and others. By patient age, the market is divided into adult patients and pediatric patients. 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.
The airway management devices market is segmented into Device Type, Patient Age and End User.
[DEVICETYPEGRAPH]
By device type, the infraglottic devices sub-segment dominated the market in 2021 and is expected to be the fastest growing during the forecast period. Infraglottic devices create a passageway for the mouth to flow through the glottis and then into the trachea. Numerous infraglottic techniques are available and the method chosen will depend on the accessibility of equipment, the level of training and expertise, and the patient's specific injury or disease. A few aspects such as the surgeon's experience, and the accessibility of medical equipment are taken into consideration while choosing a procedure for the patients. These are predicted to be the major factors affecting the airway management device market size during the forecast period.
[PATIENTAGEGRAPH]
By patient age, the adult patients sub-segment dominated the global airway management device market share in 2021. Adult patients the majority of visit hospitals for medical procedures when ventilation and oxygenation are needed. According to the Centers for Disease Control (CDC) and Prevention, the number of chronic disease visits to emergency rooms in the U.S. will be due to COPD, congestive heart failure, and hypertension. The increase in the adult population and the rising occurrence of chronic diseases in geriatric patients are the key factors contributing to the adult patients sub-segment growth. These are predicted to be the major factors affecting the airway management devices market size during the forecast period.
[ENDUSERGRAPH]
By end user, the hospitals sub-segment dominated the global airway management devices market share in 2021. The increase in the number of hospitals and the development of the economy and infrastructure, particularly in emerging countries, is accountable for the enormous share of the market. A major development in the hospital sector is further supported by the increase in surgical procedures, which rely on airway management devices market opportunity for breathing, oxygenation, and anesthetic administration. In addition, the increase in government activities targeted at enhancing safety and minimizing unfavorable incidents plays a major role in the segment's significant share.
[REGIONGRAPH]
By region, North America dominated the global market in 2021 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 neo-natal 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.
The key players profiled in the report include Medtronic, Smiths Medical, Inc., Teleflex Incorporated., KARL STORZ SE & Co. KG, Ambu A/S., Flexicare (Group) Limited, Intersurgical Ltd, SunMed, VYAIRE MEDICAL, INC., and Vbm Medizintechnik.
Impact of COVID-19 on the Global Airway Management Devices Industry
Key Benefits For Stakeholders
Key Market Segments
Key Market Players