As stated by the report published by Fior Markets, the global airway management device market would see growth from USD 1.82 Billion in 2017 to USD 2.93 Billion by 2025 with a CAGR of 6.37% during the forecast period from 2018-2025. North America market is anticipated to spot substantial growth over the next decade due to the prevalence of the associated disease, growing prevalence of chronic respiratory diseases, and rise in emergency department visits in the region. These factors led to 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 manufacturers 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. Regions under development as well as those developing at fast pace including U.S, Germany, U.K, China, and Japan are offering greater opportunities. Leading contestants 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 aim of this acquisition was to fulfill unmet patient demands and provide advanced products, allowing continuous airway monitoring.
The type segment includes supraglottic airway management devices, infraglottic airway management devices, resuscitators, laryngoscopes, and other airway management devices. The infraglottic devices segment is ruler segment in the airway management devices market. Major contributors to the market growth include increased demand for endotracheal tubes, rising demand for emergency care and increasing demand of laryngeal masks in clinical applications. On the basis of application segment, the market is divided into anaesthesia and emergency based medicines. Anaesthesia segment registered the largest market share of 59.73% after receiving a boost from the increased number of surgical procedures. End user segment includes operating rooms, emergency care departments, intensive care units, and other end users. Operating room segment is a key player in business growth and developing with the highest CAGR of 10.94% over the forecast period.
The crucial factor driving the market includes increasing adoption of airway management devices in order to prevent conditions such as laryngospasms and improve the existing ventilation solutions. Lack of awareness regarding medical condition and procedures are predicted to hamper the growth of the 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 the forecasted period.
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