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.
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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.
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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).
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Website: Airway Management Devices Industry worth $2.4 billion by 2028, with a CAGR of 5.6%