The global Airway Management Devices Market Growth Accelerated by Increasing Prevalence of Respiratory Diseases

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Airway management devices are medical devices that are used in various clinical procedures to manage patients’ airways during anesthesia, surgeries, and emergencies. These devices consist of laryngoscopes, endotracheal tubes, tracheostomy tubes, laryngeal mask airways, and oral and nasopharyngeal airways. Airway management devices are crucial for supporting ventilation during respiratory diseases, infections, and prolonged mechanical ventilation. They allow unobstructed airflow and facilitate gas exchange in the lungs. With rising cases of Chronic Obstructive Pulmonary Disease (COPD), asthma, and other breathing disorders, there is growing demand for airway management solutions that enable ventilation support.

 

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 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Opportunity:

The growing prevalence of respiratory diseases and need for ventilation support during medical procedures present significant opportunities for airway management devices. According to the World Health Organization (WHO), around 65 million people suffer from moderate to severe COPD worldwide. With an aging population and rising pollution levels, cases of COPD and asthma are expected to increase substantially in the coming years. This will drive the need for airway devices that assist breathing and ventilation during respiratory failure or respiratory arrests. Airway management solutions enabling safe ventilation can help reduce complications and medical expenditure associated with respiratory illnesses, presenting lucrative prospects for players in this market.

 

Porter's Analysis

Threat of new entrants: The threat of new entrants is moderate as the airway management devices market requires high capital investment and regulations. There are also economies of scale in production and branding that make entry difficult.

 

Bargaining power of buyers: The bargaining power of buyers is high given the presence of many vendors offering substitutable products. Buyers can negotiate on price and demand better offers from vendors.

 

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many raw material suppliers and establishing long term contracts enables price stability for vendors.

 

Threat of new substitutes: The threat of substitutes is low as airway management devices have limited substitutes, though newer technologies may emerge as substitutes.

 

Competitive rivalry: The competitive rivalry in the market is high given the presence of many international and regional players competing on product quality, features, price and innovation.

 

SWOT Analysis

Strength: The airway management devices market has strong growth potential due to increasing prevalence of chronic respiratory diseases and greater demand for emergency care devices.

Weakness: High costs associated with manufacturing, lack of skilled professionals for airway management in developing regions.

Opportunity: Emergence of low-cost devices, expanding healthcare infrastructure in emerging economies create new opportunities.

Threats: Stringent regulatory approvals and recalls limit market expansion. Reimbursement issues also affect market growth.

 

Key Takeaways

The Global Airway Management Devices Market Share is expected to witness high growth at a CAGR of 6.8% during the forecast period of 2023 to 2030. The market size is projected to reach US$ 1949.53 Mn by 2023 from US$ 1532.21 Mn in 2022.

 

Regional analysis indicates that North America dominates the global airway management devices market currently owing to established healthcare facilities and reimbursement policies. However, Asia Pacific is expected to be the fastest growing market led by countries such as China and India due to rising medical tourism, increasing healthcare expenditure and large patient population.

 

Key players operating in the airway management devices market are Medtronic PLC, ICU Medical, Inc., Viggo Medical Devices, Teleflex Incorporated, Olympus America, Polymedicure, Ambu A/S., Verathon Inc., SourceMark, SunMed, KARL STORZ, Flexicare (Group) Limited, and Vyaire Medical.
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https://www.newswirestats.com/airway-management-devices-market-size-share-growth-outlook-2023-2/

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