Endotracheal tubes are flexible plastic tubes inserted into the trachea through the mouth or nose to maintain an open airway and deliver anaesthetic gases or oxygen during surgery or during respiratory failure. They are extensively used during critical care, emergency care, anaesthesia, and airway management. The growing prevalence of respiratory diseases such as chronic obstructive pulmonary disease and asthma has been boosting the demand for endotracheal tubes for ventilation support. Additionally, the increase in road accidents and trauma cases is surging the need for emergency and intensive care, thereby propelling the endotracheal tube market growth.
Market Opportunity:
The rise in home healthcare services provides major growth opportunities for the endotracheal tube market. Home healthcare reduces healthcare costs and improves patient comfort compared to hospitals. It also prevents hospital-acquired infections. Many patients requiring mechanical ventilation may continue receiving ventilator support at their homes after initial hospital treatment. This growing demand for home mechanical ventilation is opening new opportunities for market players to supply endotracheal tubes used in home healthcare settings. Home ventilation reduces the risk of re-hospitalization while improving quality of life. The availability of multi-day endotracheal tubes suitable for home ventilation is augmenting the market growth.
Porter's Analysis
Threat of new entrants: The endotracheal tube market requires high investments for R&D to develop and manufacture endotracheal tubes. In addition, there are stringent regulatory approvals that new entrants must comply with, limiting their entry.
Bargaining power of buyers: Buyers have moderate bargaining power in this market as endotracheal tubes are essential medical devices for ventilator support. However, the presence of numerous established manufacturers curbs their power.
Bargaining power of suppliers: The key suppliers of raw materials for endotracheal tubes such as PVC and latex face low bargaining power due to the availability of substitute materials.
Threat of new substitutes: There exists a low threat from substitutes as endotracheal tubes are irreplaceable for life support during ventilation procedures in intensive care units.
Competitive rivalry: The market is highly competitive due to the large presence of major multinational corporations.
SWOT Analysis
Strengths: Growing prevalence of respiratory diseases, development of user-friendly tubes.
Weaknesses: Risk of injury, complications associated with long-term intubation.
Opportunities: Emerging economies with large patient pools, innovative product launches.
Threats: Stringent regulations, threat of substitutes.
Key Takeaways
The Global Endotracheal Tube Market Growth is expected to witness high at a CAGR of 9% during the forecast period of 2023-2030. North America currently dominates the market due to the high number of ICU admissions. Hospitals comprise the largest end-user segment.
Regional analysis: Asia Pacific is poised to grow the fastest in the endotracheal tube market owing to increasing healthcare expenditures, rising incidence of chronic diseases, and growing medical tourism in countries such as India, China, and Japan.
Key players: Key players operating in the endotracheal tube market are Medtronic Plc, Teleflex Inc., ConvaTec Inc., Smiths Medical, Neurovision Medical Products, Intersurgical Inc., Royax, Novo Klinik-Service GmbH, Avanos Medical, Inc., Bactiguard, and N8 Medical LLC.
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