The Endotracheal Tube Market is estimated to be valued at US$ 920.0 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
An endotracheal tube (ET tube) is a thin, flexible tube inserted into the mouth, throat, windpipe, and lungs for administering anaesthesia or ventilation during surgery or during a medical emergency to sustain breathing. They are majorly used in intensive care units (ICUs)to connect a patient's lungs with a ventilator during mechanical ventilation to oxygenate blood and remove carbon dioxide. Growing prevalence of respiratory diseases like asthma, chronic obstructive pulmonary disease (COPD), and respiratory infections has fueled the demand for ventilators, thereby boosting the endotracheal tubes market.
Market Dynamics:
Rising geriatric population susceptible to respiratory diseases is a key driver fueling growth of the endotracheal tube market. As per the UN data, geriatric population aged 65 years and above is projected to reach 1.5 billion in 2050 from 703 million in 2019. Moreover, increasing cases of pre-term births leading to neonatal respiratory distress syndrome (RDS) also necessitates use of endotracheal tubes in pediatric practice. However, high risk of ventilation-associated pneumonia with long term usage of endotracheal tubes and availability of alternative airway management devices like tracheostomy tubes may restrain market growth.
SWOT Analysis
Strength:
- Endotracheal tubes are widely used in hospitals and other healthcare settings for various respiratory procedures which increases their demand. They are easy to use and allow for effective management of patient's airway during surgeries or procedures. Many key players offer a wide variety of endotracheal tubes with improved features.
Weakness:
- Improper placement or inflation of endotracheal tubes can cause complications for patients such as tracheal injury. There are risks of infections associated with long term usage of these tubes in critically ill patients.
Opportunity:
- Growing number of surgical procedures worldwide is driving the demand for endotracheal tubes. Developing economies in Asia Pacific and Latin America are expected to provide significant growth opportunities due to increasing healthcare investments.
Threats:
- Alternatives like extraglottic airway devices pose a threat to endotracheal tubes market. Strict regulations associated with medical device development and approval also challenge market growth.
Key Takeaways
The Global Endotracheal Tube Market Size is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing number of respiratory diseases. North America dominates the endotracheal tube market currently owing to rising prevalence of chronic respiratory illnesses in the region.
Regional analysis
Asia Pacific region is expected to grow at the fastest rate in the endotracheal tube market led by increasing healthcare spending and rising cases of respiratory disorders among growing geriatric population in China and India. North America accounted for largest share of endotracheal tube market in 2023 assisted by presence of major players and well developed healthcare infrastructure in the US.
Key players
Key players operating in the endotracheal tube market are Medtronic Plc, Teleflex Inc., ConvaTec Inc., Smiths Medical, Neurovision Medical Products, Intersurgical Inc., Royax, Novo Klinik-Service GmbH, Avanos Medical, Inc., Bactiguard, and N8 Medical LLC.
