by Endotracheal tubes are medical devices installed through the mouth or nose into the trachea (windpipe) to maintain an open airway and administer anesthesia or ventilator support during surgery or other medical procedures. They allow access to the lower airways for oxygen delivery and removal of carbon dioxide during mechanical ventilation. The increasing cases of road accidents, respiratory complications, and chronic diseases are leading to a greater need for critical care management, which has propelled the demand for endotracheal tubes.
The global Endotracheal Tube Market is estimated to be valued at US$ 920 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
One of the key trends driving the growth of the endotracheal tube market is the rising volume of surgeries requiring ventilation support. According to the Organisation for Economic Co-operation and Development (OECD), over 230 million surgical procedures were performed in 2019 worldwide. The increasing number of complex surgical procedures, such as cardio-thoracic and neurosurgeries, demand proper ventilation of the lungs during the operation to reduce complications. Endotracheal tubes play a vital role in securing the airway and enabling mechanical ventilation during these procedures. Furthermore, the growing prevalence of chronic respiratory diseases increasing the risk of respiratory failure is also boosting the demand for endotracheal intubation and ventilation.
SWOT Analysis
Strength: Endotracheal tubes offer reliable and effective airway management during surgery or respiratory problems. They come in different sizes and designs suited for adults and pediatric patients.
Weakness: Improper intubation technique or tube placement can cause injuries like trauma to vocal cords or esophagus. Long-term usage is also associated with risks of ventilator-associated pneumonia.
Opportunity: Rising number of ICU admissions and surgical procedures worldwide is driving the demand for endotracheal tubes. Technological advancements are enabling the development of safer and customizable tubes.
Threats: Competition from cheaper alternatives like laryngeal mask airways. Stringent regulatory approvals and quality standards increase R&D and manufacturing costs.
Key Takeaways
The global endotracheal tube market is expected to witness high growth over the forecast period of 2023 to 2030. The Endotracheal Tube Market Share is estimated to be valued at US$ 920 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030.
North America currently dominates the market due to well-established healthcare infrastructure and robust demand for critical care devices. The Asia Pacific region is anticipated to progress at the fastest pace attributed to growing patient awareness, healthcare spending and developing medical tourism industry in countries such as China, India and South Korea.
Key players operating in the endotracheal tube market include Carrier, Haier Group, Emerson Electric Co., LG Electronics., Lennox International, Rheem Manufacturing Company, Trane Technologies plc, Vishay Intertechnology, Inc., Acuity Brands Lighting, Inc., Ideal Industries, Inc., Lumigrow, Hubbell, Constellation Newenergy, Inc., Energy Systems Group, Cmta, Inc., The Brewer-Garrett Company, Digi-Key Electronics, Renesas Electronics Corporation., Ameresco. These companies are focusing on new product launches, partnerships and geographical expansions to solidify their market position. For instance, Medtronic introduced microcuff endotracheal tubes with cuffs optimized for precise sealing in 2017.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
