As per the report published by Fior Markets, the global airway management device market is expected to grow from USD 1.82 Billion in 2017 to USD 2.93 Billion by 2025 at a CAGR of 6.37% during the forecast period from 2018-2025. North America market is expected to witness substantial growth over the next decade. This growth is witnessed due to rising geriatric population and the subsequent increase in the prevalence of associated disease, rising prevalence of chronic respiratory diseases and increase in emergency department visits are key factors for the growth of the market.
Global Airway Management Device Market by Type (Infraglottic Airway Management Devices, Supraglottic Airway Management Devices, Resuscitators, Laryngoscopes, Other), Application, Region, Forecast 2018-2025.
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Prominent companies in the industry include Smiths Group, Teleflex, Medtronic, Karl Storz, Ambu, Flexicare, VBM Medizintechnik, Sunmed, Vyaire Medical, Olympus, Intersurgical, Verathon, Medline Industries and others among others. Developing and developed (U.S, Germany, U.K, China and Japan) regions are offering greater opportunities and major players are continuously focused on new product developments to obtain market share. For instance, in September 2016, Ambu A/S acquired ETView Medical Ltd., which is a medical device manufacturer. The acquisition was aimed at fulfilling unmet patient demands and provide advanced products that allow continuous airway monitoring.
The type segment is classified into supraglottic airway management devices, infraglottic airway management devices, resuscitators, laryngoscopes, and other airway management devices. The infraglottic devices segment is dominating the airway management devices market. Increased demand for endotracheal tubes, rising demand for emergency care and increasing demand of laryngeal masks in clinical applications are major contributing factors for the growth of the segment. Application segment includes anaesthesia and emergency based medicines. Anaesthesia segment held the largest market share of 59.73% due to increased number of surgical procedures. End user segment is divided into segments such as operating rooms, emergency care departments, intensive care units, and other end users. Operating room segment is playing a chief role in shaping business growth and is growing with the highest CAGR of 10.94% over the forecast period.
This increasing adoption of airway management devices in order to prevent conditions such as laryngospasms and improve the existing ventilation solutions is a major factor driving the market. Lack of awareness regarding medical condition and procedures may hamper the growth of market. However, increasing demand from developing countries is opening new emerging markets, which in turn is expected to boost the growth of the market in coming years.
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