Airway Management Device Demand Analysis Market Size Forecast to Reach $2.4 Billion by 2026
Airway Management Device Demand Analysis Market size is forecast to reach $2.4 billion by 2026, growing at a CAGR of 6.3% during the forecast period 2021-2026. Airway management devices are used in medical procedures to prevent airway obstruction in patients and allows the gas exchange between a patients lungs and the atmosphere. Airway management devices includes supraglottic, infraglottic, and resuscitators among others that are used in the field of anaesthesia procedures in hospitals. Its application among babies and increasing incidence of pre-term birth requires the need of airway management devices. Different types of airway management devices are used by medical professionals depending upon the criticality of the condition. Rising prevalence of chronic respiratory diseases and increasing demand for emergency care are the major factors driving the growth of the market. High incidence of pre-term births and improving emergency care infrastructure is set to further enhance the overall market development for the Airway Management Device Demand Analysis Market for the period 2021-2026.
Airway Management Device Demand Analysis Market Segment Analysis – By Type
Supraglottic Airway Management Devices held the largest share in the Airway Management Device Demand Analysis Market in 2020 and are estimated to grow at a CAGR of 5.7% during the forecast period 2026. Supraglottic Airway Management Devices can be inserted into the pharynx to allow oxygenation and ventilation of anaesthetic gases. These devices are used for primary airway management when facemask ventilation is difficult and is used most commonly in the operating rooms and in the emergency department for prehospital airway hospital airway management. Laryngeal mask airways consist of a hollow tube connected to a mask-like cuff that is designed in the hypopharynx which is facing the glottis. Resuscitators are set to the highest growing segment and are estimated to register the highest CAGR over the period 2021-2026.
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Airway Management Device Demand Analysis Market Segment Analysis – By Patient Age
Old aged patients held the largest share in the Airway Management Device Demand Analysis Market in 2020 and is estimated to grow at a CAGR of 6.6% during the forecast period 2026. This is attributed to the rising population and the high prevalence of chronic diseases in Old aged patients. Old aged patients visit hospitals for medical procedures and also require oxygenation and ventilation. Airway management devices are used in anaesthesia, emergency medicine, cardiopulmonary resuscitation, and neonatology among others. It also manages the airway among babies and increasing incidences of pre-term birth require airway management devices. Old aged patients are set to the highest growing segment and are estimated to register the highest CAGR over the period 2021-2026.
Airway Management Device Demand Analysis Market Segment Analysis – By Geography
North America dominated the Airway Management Device Demand Analysis Market with a major share of 38.9% in 2020. This is attributed to the increasing demand for critical care units and supporting reimbursement policies. Implementation of favourable government initiatives, growing per capita income, and increasing investment in the healthcare industry are also increasing the growth of the market in this region.
However, Asia Pacific is projected to grow at a higher CAGR during the forecast period 2021-2026 owing to the low infrastructure and treatment costs. The availability of highly educated physicians is increasing the growth of the market in this region.
Airway Management Device Demand Analysis Market Drivers
Rising Demand for Cutting Edge Technologies
Rising demand for cutting-edge technologies is increasing the growth of the Airway Management Device Demand Analysis Market. Cutting-edge technologies are the leading-edge technology that employs current and high-level IT developments. Robots are being developed for peripheral and central venous access to perform intubations and assist the regional anaesthesia administration. Cutting edge technologies offer the distant preoperative assessment for anaesthesia and also provide the aid of trained personnel to perform anaesthetic tasks to maintain a target depth. Thus, increasing the growth of the Airway Management Device Demand Analysis Market during the forecast period 2021-2026.
Rising Prevalence of Chronic Respiratory Diseases
The rising prevalence of chronic respiratory diseases is increasing the growth of the Airway Management Device Demand Analysis Market. This is attributed to air pollution, dust, and occupational chemicals along with frequent lower respiratory infections during childhood. They are not curable but various sorts of treatment help dilate major air passages to enhance shortness of breath and help to regulate symptoms. Thus, increasing the growth of the Airway Management Device Demand Analysis Market during the forecast period 2021-2026.
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Airway Management Device Demand Analysis Market Challenges
Harmful Effects of Certain Devices on Neonates
Some of the factors that are set to impede the growth of the Airway Management Device Demand Analysis Market are harmful effects of certain devices on neonates and dearth of skilled professionals. Increasing pricing pressure is also set to hinder the growth of the market.
Airway Management Device Demand Analysis Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Airway Management Device Demand Analysis Market. In 2020, the Airway Management Device Demand Analysis Market share is consolidated by the top ten players present in the market. Airway Management Device Demand Analysis Market, top 10 companies are Medtronic, Smiths Medical, Teleflex, Ambex, KARL, STORZ, Flexicare, Verathon, Intersurgical Ltd., SunMed, and Salter Lab among others.
Key Takeaways
North America dominated the Airway Management Device Demand Analysis Market in 2020 owing to the increasing demand for critical care units and supporting reimbursement policies. The Airway Management Device Demand Analysis Market scope for different regions will be provided in the final report.
Rising demand for cutting-edge technologies and expansion of private sector hospitals to rural areas are likely to aid the market growth of the Airway Management Device Demand Analysis Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Airway Management Device Demand Analysis Market report.
Harmful effects of certain devices on neonates and the dearth of skilled professionals is poised to create hurdles for the Airway Management Device Demand Analysis Market.
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