Airway management devices are extensively utilized in various therapeutic procedures associated with the respiratory system. These devices aid the delivery of oxygen during surgeries or respiratory illnesses and enable emergency medical care in case of airway obstructions or blockages. The increasing incidence of chronic respiratory disorders such as asthma and Chronic Obstructive Pulmonary Disease (COPD) has augmented the demand for airway management equipment globally. The global Airway Management Devices Market is estimated to be valued at US$ 1949.53 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of chronic respiratory diseases is one of the major trends driving the growth of the airway management devices market. Chronic lung disorders such as asthma and COPD have increased manifold over the past few decades owing to factors such as rising pollution levels, growing smoking rates, and aging population. As per the reports of World Health Organization (WHO), around 65 million people suffer from moderate to severe COPD worldwide. The increasing disease burden has led to greater utilization of airway management equipment during emergency treatments and surgeries related to chronic respiratory illnesses. Furthermore, technological advancements in airway management devices with respect to portability, ease of use, and enhanced safety features have boosted their demand across healthcare settings.
Segment Analysis
The global airway management devices market is segmented by product, end user and geography. By product, the market is classified into supraglottic devices, infraglottic devices, laryngoscopes, bronchoscopes, resuscitators and others. Among these, the supraglottic devices segment dominated the market in 2020 with a share of over 35%. Supraglottic airway devices are stand-alone ventilation devices used as an alternative to endotracheal intubation. Their ease of use and safety features make them the preferred choice over other devices in emergency settings.
Key Takeaways
The global Airway Management Devices Market Growth is expected to witness high growth. The market size is projected to reach US$ 2457.83 Mn by 2030 at a CAGR of 7.5% during the forecast period.
Regional analysis: North America region currently dominates the global airway management devices market. The large share is attributed to growing patient awareness, strong reimbursement policies and technological advancements in the region. However, Asia Pacific region is expected to witness the highest growth during the forecast period driven by rising healthcare spending, growing aging population and increasing incidence of chronic respiratory diseases in countries like China and India.
Key players operating in the airway management devices market are Nanya PCB (Taiwan), Tripod Technology Corporation (Taiwan), Unimicron Technology Corporation (Taiwan), Ibiden Co., Ltd. (Japan), Compeq Manufacturing Co., Ltd. (Taiwan), TTM Technologies, Inc. (United States), Kingboard Holdings Limited (Hong Kong), Shennan Circuits Company Limited (China), AT&S Austria Technologie & Systemtechnik AG (Austria), Multek (a subsidiary of Flex Ltd.) (United States). These players are focusing on new product launches, partnerships and geographical expansions to increase their market share.
For more insights, read- https://www.ukwebwire.com/airway-management-devices-market-trends-size-and-share-analysis/
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