Airway Management Devices Market worth $2.4 billion | Medtronic (Ireland), ICU Medical, Inc. (US), Teleflex Incorporated (US), Ambu A/S (Denmark), ConvaTec Group Plc (UK)

Airway Management Devices Market in terms of revenue was estimated to be worth $1.8 billion in 2022 and is poised to reach $2.4 billion by 2028, growing at a CAGR of 5.6% from 2022 to 2028 according to a new report by MarketsandMarkets™. The growth of this market is majorly driven by increasing prevalence of respiratory tract infections and chronic respiratory diseases. Moreover, increasing number of emergency care admission and favourable reimbursement coverage across emerging countries supporting the growth of airway management devices market.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=116806061&utm_source=OPenpr&utm_campaign=Paid&utm_content=Referral

The airway management devices industry is expected to experience significant growth over the next few years. This is due to the increasing demand for advanced medical devices that help to manage a patient's airway during medical procedures. Airway management devices are being used to support and facilitate the safe delivery of ventilation, oxygenation, and airway suction. Moreover, the increasing prevalence of chronic obstructive pulmonary diseases, such as asthma and COPD, is expected to create a strong demand for airway management devices. Additionally, advancements in technology, such as 3D printing, are expected to further drive the growth of the airway management devices industry.
Laryngoscopes segment is expected to account for the second largest share in 2022.

Laryngoscopy is a medical procedure that provides a full view of the vocal folds and the glottis using a laryngoscope. Increasing demand of laryngoscopes are attributed to the rising burden of respiratory complications due to increasing pollution and growing need for intubation and chronic respiratory disease prevalence is expected to drive the airway management devices market.

The anesthesia segment held the largest market share in the airway management devices market by application

By application, the anesthesia segment accounted for the largest share in 2022. Airway management devices are widely used in anesthesia for maintaining unobstructed breathing during and after the surgical procedure. Increasing number in surgical procedures and demand for maintaining a safe breathing passage to lower the risk of anesthesia-related complications during surgery is driving the demand for airway management devices in the anesthesia segment.

The pediatric patient segment is expected to grow at the highest rate during the forecast period

The pediatric/neonatal patients' segment is expected to show rapid growth in the patient age segment during the forecast period. Factors attributing to the growth of the segment is due to the rising number of pre-term births and the rising healthcare expenditure and the improving healthcare infrastructure in countries are contributing to the rapidly increasing demand for infant/neonatal airway management devices.

Hospitals dominates the global airway management devices market during the forecast period

Based on end-user the hospital segment accounted for the largest market share during the forecast period. The large share of this segment can be attributed to the increasing number of hospitals and economic & infrastructural development, especially in developing countries. Moreover, the increasing surgical procedures performed across emerging rooms where airway management devices are used also supports growth in the hospitals segment.

Asia Pacific is expected to account for the highest CAGR in the airway management devices market

The Asia Pacific airway management devices market is expected to grow at the highest CAGR during the forecast period. Asia Pacific is driven by rising number of geriatric populations, increasing demand for critical care units and the low infrastructure and treatment costs and the presence of highly educated physicians have driven medical tourists to APAC countries, particularly to Malaysia, India, and China.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=116806061&utm_source=OPenpr&utm_campaign=Paid&utm_content=Referral

Airway Management Devices Market Dynamics:

Drivers:

Increasing prevalence of chronic respiratory diseases
Growing demand for emergency and intensive care
Growing incidence of pre-term births globally
Government support for improving emergency care infrastructure

Restraints:

Lack of reimbursement policies across developing countries

Opportunities:

Growing demand for single-use airway management devices
Increased growth potential in emerging countries

Challenges:

Harmful effects of airway management devices on neonatal patients
Dearth of skilled professionals for airway management procedures
Increasing pricing pressure on key market players

Key Market Players:

The airway management devices market is dominated by players such Medtronic (Ireland), ICU Medical, Inc. (US), Teleflex Incorporated (US), Ambu A/S (Denmark), ConvaTec Group Plc (UK).

Recent Developments:

In 2022, SunMed Holdings (US) announced a strategic partnership with Securisyn Medical LLC (US) to enhance ventilated patient safety and broader smooth tube and catheter security.

In 2022, Coloplast A/S acquired Atos Medical to add a new chronic business segment - ENT & Respiratory Care, which will run as a separate strategic unit, operating on shared Coloplast infrastructure.

In 2022, ICU Medical, Inc. acquired Smiths Medical (US), which includes a syringe and ambulatory infusion devices, vascular access, and vital care products. When combined with ICU Medical's existing businesses, it created a leading infusion therapy company.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=116806061&utm_source=OPenpr&utm_campaign=Paid&utm_content=Referral

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/airway-management-device-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/airway-management-device.asp

About MarketsandMarkets™:

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.