Airway Management Devices Market Competitive Analysis with Forecast to 2031

Airway Management Devices Market Outlook 2031

The global airway management devices market was valued at US$ 1.1 Bn in 2021

The global market is projected to expand at a CAGR of 7.7% from 2022 to 2031

The global airway management devices market is anticipated to reach US$ 2.3 Bn by the end of 2031

Overview of Airway Management Devices Market

According to the latest report published by Transparency Market Research, the global airway management devices market is projected to expand at a considerable growth rate from 2022 to 2031, due to rising prevalence of chronic respiratory diseases such as asthma and COPD globally.

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Patients with severe respiratory infections or low oxygen saturation often require positive air pressure devices such as ventilators. Airway management equipment include airway management tubes (endotracheal tube), laryngoscope handle and blade, positive airway pressure devices, and various sized oropharyngeal airways. These devices are mainly used in operating rooms during surgeries. In addition, for better patient outcomes, leading players operating in the global airway management devices market are focusing on developing technologically advanced respiratory devices.

Rise in Prevalence of Respiratory Diseases Globally to Fuel Airway Management Devices Market Growth

Increase in incidences of chronic respiratory diseases such as asthma, and chronic obstructive lung disease (COPD) is driving the demand for airway management devices. Chronic obstructive pulmonary diseases, bronchitis, and emphysema, lung cancer, neoplasms of the respiratory tract, etc., significantly affect airways and lung structures. The incidence of respiratory diseases is increasing due to environmental and lifestyle-related factors such as air pollution, smoking habits, sedentary lifestyles, and stress. Rise in the number of patients suffering from such diseases, and rapid introduction & availability of portable, cost-contained, and easy-to-use airway equipment for the treatment of such conditions drive demand for airway management devices. Airway stenting and airway clearance system are unique therapy systems that use airway management devices.

According to the World Health Organization (WHO), in 2019, over 65 million people suffered from chronic obstructive pulmonary disease (COPD), and 3 million succumbed to it, making it the third-leading cause of death globally. Over 80% of these deaths occurred in low- and middle-income countries (LMIC). Over 262 million people suffer from asthma, the most common chronic pediatric disease that affects 14% of all children globally every year. In 2020, around 10 million people developed tuberculosis (TB) and 1.4 million lost their lives, making it the most common lethal infectious disease. Lung cancer accounts for 1.6 million deaths each year and is the most lethal form of cancer. Globally, 4 million people die prematurely from chronic respiratory disease. At least 2 billion people are exposed to indoor toxic smoke, 1 billion inhale outdoor pollutants in the air, and 1 billion are exposed to tobacco smoke.

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Increase in Adoption of Technologically Advanced Infraglottic Devices

In terms of product type, the global airway management devices has been classified into supraglottic device, infraglottic device, resuscitators, and laryngoscope. Infraglottic devices are expected to account for a dominant share of the global market in the upcoming years. Tracheostomy tubes and endotracheal Tubes (ETTS) are some of the popular infraglottic devices used by patients. Technological advancements in these devices and their increasing application during emergencies are major factors fueling the demand for infraglottic airway devices, particularly in developed regions such as Europe and North America.

High Susceptibility of Elderly Population to Chronic Respiratory Diseases to Drive Demand for Airway Management Devices

The rise in global population can be attributed to the increase in life expectancy of people over the past decade. The immune system of a person weakens with age. Hence, the surge in the elderly population increases the probability of contracting various diseases. The number of people aged over 60 years is expected to rise in the upcoming years. The rapidly increasing geriatric population has led to an increase in the incidence and prevalence of chronic respiratory diseases. This, in turn, is anticipated to drive the demand for airway management equipment during the forecast period.

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Moreover, there is an increasing demand for airway management devices from adults, as the prevalence rate of chronic respiratory diseases (CRD) in adults is rising. According to the health data released by the Centers for Disease Control and Prevention (CDC), the prevalence of COPD, emphysema, or chronic bronchitis in adults increased in 2020. Therefore, the rising number of patients suffering from emphysema, or chronic bronchitis has increased the demand for airway management equipment across the globe.

Operating Rooms (ORs) to Remain Key End-user of Airway Management Devices

In terms of end-user, the airway management devices market has been segregated into operating room (OR), intensive care units (ICU), and others. The operating room (OR) segment accounted for the dominant market share, in terms of revenue, in 2021. The segment is anticipated to expand at a high CAGR during the forecast period. Rise in the number of ORs in developing countries, along with the increase in the number of respiratory diseases is expected to drive the segment during the forecast period.

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Moreover, airway management equipment is used for ventilation, oxygenation, and administration of anesthesia during a surgical procedure. Thus, rise in the number of surgical procedures across the globe is driving the demand for such devices.

North America to Dominate Global Market Due to Highly Developed Healthcare System

North America accounted for the largest share of the global airway management devices market in 2021, and the trend is projected to continue during the forecast period due to the emergence of advanced healthcare system. An increase in the geriatric population in the region, along with the availability of technologically advanced airway equipment is contributing to the region's market share.

The market in Europe is anticipated to grow at a rapid pace during the forecast period, attributed mainly to significant improvements in the healthcare system, high awareness about airway management equipment, and increase in initiatives adopted by governments in the region to provide better healthcare services.

Increase in disposable income and purchasing power of consumers, developing healthcare infrastructure, and large population base are the key factors anticipated to augment the market in Asia Pacific during the forecast period.

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Analysis of Key Players

The global airway management devices market is consolidated, with a small number of large-scale vendors controlling the majority of the market share.

Key players operating in the global market include GE Healthcare, Medtronic plc, Koninklijke Philips N.V, Olympus Corporation, Smiths Medical, and Karl Storz GmbH & Co. KG. The key players are adopting growth strategies such as new product development, product launches, product approvals, agreements, partnerships, and mergers & acquisitions.

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