June 13, 2024
Airway Management Devices Market

Airway Management Devices Market Is Expected To Be Flourished By Growing Prevalence Of Respiratory Diseases

Airway management devices refer to the medical tools and equipment used during anesthesia and emergency care to maintain a patient’s airway and ensure adequate oxygenation and ventilation during procedures. A few common airway management devices include laryngeal mask, endotracheal tubes, laryngoscopes, tracheostomy tubes, and oral/nasal airways. These devices assist in maintaining a patent airway, delivering oxygen, removing secretions, and supporting mechanical ventilation. The rising prevalence of respiratory diseases worldwide has significantly increased the demand for emergency airway management. Growing cases of chronic obstructive pulmonary disease (COPD), asthma, lung cancer, and others are driving the utilization of these devices.

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 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

The growing prevalence of respiratory diseases and the rising number of emergency procedures requiring airway management devices are expected to fuel market growth over the forecast period. As per the World Health Organization (WHO), respiratory diseases are among the leading causes of death globally. The increasing pollution levels, growing tobacco consumption and aging population are key factors aggravating respiratory illnesses. Thus, higher demand for temporary airway devices, endotracheal tubes and laryngeal masks is witnessed among healthcare facilities. Furthermore, technological advancements in airway management, introduction of portable and disposable devices, and growing investments by market players to expand their product portfolios are some other drivers accelerating the market expansion.

Segment Analysis

The airway management devices market is dominated by the endotracheal tubes sub-segment, which holds around 60% share of the market. Endotracheal tubes are more commonly used in hospitals as they are the primary mode of airway management during surgery or intensive care. They provide a direct access to the lungs and are inserted through the mouth or nose down into the trachea.

PEST Analysis

Political: The growing healthcare expenditure by governments across countries is expected to drive the airway management devices market. Many countries are working on expanding healthcare access which will boost the demand for airway management equipment.

Economic: Rising per capita incomes have increased the ability of people to spend more on healthcare. This is encouraging patients to seek medical help for various conditions. Advanced airway management has become more affordable.
Social: Growing public awareness about various respiratory diseases and the role of airway management in treatment is supporting the market growth. Social media is also helping people learn more about such medical devices and procedures.
Technological: Major players are highly investing in R&D to develop innovative airway management solutions. New devices with improved features for precision, ease of use and patient safety are being launched which is attracting more patients and hospitals.

Key Takeaways

The global Airway Management Devices Market Growth is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis: North America dominates currently due to the early availability of advanced healthcare facilities. However, Asia Pacific is poised to grow at the fastest pace led by countries such as China and India where initiatives are being taken to expand healthcare infrastructure and access.

Key players operating in the airway management devices market are Nanya PCB (Taiwan), Tripod Technology Corporation (Taiwan), Unimicron Technology Corporation (Taiwan), Ibiden Co., Ltd. (Japan), Compeq Manufacturing Co., Ltd. (Taiwan), TTM Technologies, Inc. (United States), Kingboard Holdings Limited (Hong Kong), Shennan Circuits Company Limited (China), AT&S Austria Technologie & Systemtechnik AG (Austria), Multek (a subsidiary of Flex Ltd.) (United States). The major players are focusing on new product launches, partnerships and mergers to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it