Airway Management Devices Market: Revenue Trends, Growth Drivers, and Size Research Report Forecast To 2032
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Market Size – USD 2.13 Billion in 2022, Market Growth – at a CAGR of 7.6%, Market Trends: Technological advancements in airway management devices
VANCOUVER, BRITISH COLUMBIA, CANADA, May 25, 2023 /EINPresswire.com/ -- Airway Management Devices Market Forecast to 2032
The global airway management devices market size was USD 2.13 billion in 2022 and is expected to register a revenue CAGR of 7.6% during the forecast period, according to the latest analysis by Emergen Research. Rising prevalence of chronic respiratory diseases, increasing government approvals and funding, and technological advancements in airway management devices are some of the key factors driving revenue growth in the market.
Increasing government approvals and funding for healthcare are contributing significantly to the revenue growth of this market. As different companies are launching these devices and getting approvals from federal government agencies, this is driving revenue growth in the market. On May 10, 2021, for instance, Olympus announced its Airway Mobilescopes, the MAF-TM2, MAF-GM2, and MAF-DM2, have received FDA 510(k) clearance, allowing suppliers to perform a variety of upper and lower airway management systems. Anesthesiologists, pulmonologists, and critical care and intensive care providers are expected to appreciate the MAF models all-in-one designs, anytime/anywhere benefits, digital capture potential, and small footprint.
The market is driven by factors such as the increasing prevalence of respiratory diseases, the growing geriatric population, and the rising number of surgeries. Additionally, technological advancements in airway management devices, such as the development of video laryngoscopes and other advanced airway management devices, are expected to further drive market growth.
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The global Airway Management Devices market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Airway Management Devices industry is witnessing an expansion and change of dynamics owing to the entry of several new players.
The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
Smiths Medical, Medtronic plc, Medline Industries, Inc., Teleflex Incorporated., SunMed, Verathon Inc., TRACOE Medical GmbH, Lumenis Be Ltd., Olympus Corporation, and Convatec Group PLC
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Some Key Highlights From the Report
The infraglottic airway management devices segment accounted for largest revenue share in 2022. Endotracheal tubes and tracheostomy tubes are two types of infraglottic airway management devices used to rescue airways during incubation. An Endotracheal Tube Introducer (ETI) is a useful, low-cost, and simple tool for opening adult airways, which is creating high demand in this segment. Endotracheal intubation with an ETI is simple to learn. There has been no research in adult patients on the perspective of ETI during Lucas with Cardiopulmonary Resuscitation (CPR).
The anesthesia segment is expected to register fastest revenue CAGR during the forecast period. Leading companies increasing portfolios and product launches are driving up demand for this segment. On 14 December 2020 for instance, Smiths Medical, which is a leading medical device company, was pleased to announce the official launch of its EchoGlo peripheral nerve block portfolio. This addition to the Portex pain control product portfolio offers customers a complete geographic anesthesia remedy, from the pump to the patient.
The market in North America accounted for largest revenue share in 2022 due to presence of different leading companies and rising awareness for neurological diseases by several leading companies. On 6 August 2020 for instance, Biogen Inc. and Denali Therapeutics Inc. announced an agreement to co-develop and co-commercialize Denali's Leucine-Rich Repeat Kinase 2 (LRRK2) inhibitors for Parkinson's disease. Biogen will also receive the right to opt into two programs and the first right of refusal for two additional programs, all of which will be for neurodegenerative diseases that will use Denali's Transport Vehicle (TV) technology platform to pass the Blood-Brain Barrier (BBB).
Market Overview:
The report bifurcates the Airway Management Devices market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Device Type Outlook (Revenue, USD Billion; 2019-2032)
Supraglottic Airway Management Devices
Infraglottic Airway Management Devices
Laryngoscopes
Resuscitators
Others
Application Outlook (Revenue, USD Billion; 2019-2032)
Emergency Medicine
Anesthesia
Others
End-use Outlook (Revenue, USD Billion; 2019-2032)
Hospitals
Ambulatory Care Services
Home Care Settings
Others
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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.
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