by Airway management devices are medical devices used for respiratory assistance and protecting airways during anesthesia, resuscitation, and intensive care situations. The devices involve endotracheal tubes, laryngeal mask airways, tracheostomy tubes, oral airways, and nasopharyngeal airways. Endotracheal tubes are a classic example of airway management devices and are inserted through the mouth into the trachea to provide a clear airway and allow the delivery of anesthetic gases to the lungs and the monitoring of ventilation during surgery. Advancements in intubation procedures such as video laryngoscopy and innovative tube designs are expected to improve intubation success rates and decrease associated complications.
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 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
The advancement in intubation procedures as discussed in heading is expected to drive the market growth during the forecast period. Developments such as video laryngoscopy and flexible tubes have enhanced the success rate of endotracheal intubation while reducing complications. Continuous technological developments focussed on improving patient safety and procedural efficiency will further boost the demand for airway management devices. Additionally, the rising prevalence of respiratory diseases due to the growing geriatric population and increasing pollution levels is resulting in higher hospitalization rates. This is anticipated to increase the demand for airway management devices for respiratory assistance procedures. However, the high cost of advanced intubation technology remains a major challenge for widespread adoption, especially in developing regions.
Segment Analysis
The airway management devices market is segmented by product into laryngeal mask airways, tracheostomy tubes, endoscopic dilation systems, laryngoscopes, bronchoscopy/bronchoalveolar lavage equipment, and supplies. Laryngeal mask airways dominates the market and holds around 35% market share. It is preferred over endotracheal tubes during surgical procedures as it provides a safer and effective airway with reduced risk of trauma and easier intubation process.
PEST Analysis
Political: The airway management devices market is regulated by government regulatory bodies like the US FDA that sets standards for safety and efficacy of medical devices. Changes in reimbursement policies by governments and insurance providers impact market growth.
Economic: Rising prevalence of chronic respiratory diseases, growing geriatric population, increasing number of surgical procedures are major drivers of market growth. However, high costs of advanced airway management devices can restrain market expansion in price sensitive regions.
Social: Growing awareness about respiratory care and critical importance of safe and effective airway management during surgeries and ICU treatments is positively impacting market adoption.
Technological: Key players are focusing on developing more compact, lightweight and user-friendly airway management solutions incorporating advanced features like integrated suctioning and ETCO2 monitoring. Adoption of single use disposable devices is also increasing.
Key Takeaways
The Global Airway Management Devices Market Size is expected to witness high growth over the forecast period driven by rising chronic respiratory diseases, increasing number of general surgeries and trauma cases 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 6.9% over the forecast period 2023 to 2030.
North America dominates the market currently due to presence of major players, higher accessibility to advanced healthcare facilities and growing elderly population base. The Asia Pacific region is expected to grow at the fastest pace during the forecast period with China and India emerging as high potential markets.
Key players operating in the airway management devices market are Cargill, Archer Daniels Midland Company (ADM), Bunge Limited, Ingredion Incorporated, Associated British Foods (ABF), Tate & Lyle, Agrana Beteiligungs AG, The Scoular Company, Grain Processing Corporation (GPC), Didion Milling. Key players are focusing on new product launches and mergers & acquisitions to strengthen their market presence.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
