Corona Impact: Is Airway Management Devices Market will Propel with its Advanced Approaches in 2020
Growing occurrence of chronic obstructive pulmonary disease (COPD), predominantly respiratory diseases, along with growing necessity for emergency care, will upsurge the global market. According to the data published by WHO in November 2016 the 'Global Burden of Disease Study', around 251 million cases of COPD were registered globally and main causes for their occurrences were long-term asthma, active smoking, and growing indoor air pollution. Moreover, chronic obstructive pulmonary disease incidences are anticipated to grow over the forecast period due to the rise in the aged population and growth in the people smoking globally.
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Rising number of patients suffering with respiratory issues in ICU's is further expected to drive the necessity for airway management devices over the forecast period. Patients needing anesthesia before the surgical procedures require constant use of ventilators; this is one of the key factors that is projected to drive the market growth in the recent years. Nevertheless, lack of skilled professionals and harmful effects of ventilator devices on pediatric patients will hamper the airway management devices market growth over the projected timeframe.
Infraglottic airway devices segment by type is expected to dominate global airway management devices industry accounting for 662.4 million in 2026, growing at a CAGR of 6.4%. The growth is majorly attributed to the growing demand of infraglottic devices in emergency care units along with growing number of aged population globally. In addition, rising consciousness of respiratory diseases is further expected to create lucrative growth opportunities for the manufacturers across the globe. Supraglottic airway management devices sub-segment is expected to register a lucrative growth over the forecast period registering a CAGR of 8.3% over the forecast period. This is majorly due to the high rate of success in interactive airway block cases coupled with less complications that are involved.
Operating rooms segment accounted for the highest airway management devices market share of 38.90% in 2018, valued at $478.8 million. This is majorly due to the substantial growth in the number of operating procedures along with rising incidences of chronic respiratory diseases. Moreover, health experts are following more effective safety procedures which is expected to drive the market over the projected period.
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North America airway management devices market size was $504.6 million in 2018 and held the largest market share which was 41%. This region is further expected to continue its dominance over the forecast period due to increasing number of pediatric patients suffering from various lung diseases coupled with rising necessity of airway management devices. Asia-Pacific region is anticipated to register a substantial growth over the forecast period, growing at a CAGR of 7.8%, accounting for $359.5 million in the year 2026. This growth is majorly driven due to the growing adoption of airway management devices across the various developing nations in this region, such as India, China and South Korea.
The key players in airway management devices market are Smiths Medical, Intersurgical Ltd., Medtronic, Teleflex, SunMed, Ambu A/S, Flexicare Medical Limited, KARL STORZ SE & Co. KG, Vyaire Medical Inc. and VBM Medizintechnik. These key players are majorly concentrating on merger & acquisitions, partnerships, and new product development among others, to strengthen their presence across the globe. In October 2017, Smiths Medical announced the launch of three new devices for ambulatory infusion, airway management, and blood pressure monitoring. The airway management system namely "aerFree" is FDA cleared exterior negative air pressure support.
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