February 24, 2024
Airway Management Devices Market

Technological Advancements To Boost The Growth Of The Global Airway Management Devices Market

The global Airway Management Devices Market is estimated to be valued at US$ 1949.53 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The airway management devices market includes devices that are used for establishing and maintaining a clear airway and protecting the lungs from aspiration during anesthesia or unconsciousness. The devices are used during emergency situations, intensive care, and in operation theaters. Key products in the market include laryngeal mask airways, endotracheal tubes, tracheostomy tubes, laryngoscopes, airway management disposables and accessories. These devices provide a clear airway and help in oxygenation and removal of secretions and foreign particles from the respiratory tract during surgical and non-surgical procedures. Technological advancements such as development of devices with better material and design have increased the safety, efficacy and accuracy of airway management.

Market key trends:

One of the key trends in the airway management devices market is the increasing demand for video laryngoscopes. Video laryngoscopes provide an indirect view of the larynx using a camera located at the tip of the blade. They are gaining popularity over traditional laryngoscopes as they provide a magnified view of the larynx allowing for easier endotracheal intubation especially in difficult airway scenarios. Manufacturers are also launching improved video laryngoscopes with features such as recording capabilities, streamlined designs and higher resolution cameras. Another trend is the growing demand for supraglottic airways. Supraglottic airways are intra-oral and provide ventilation to the lungs without using an endotracheal tube. They avoid the risks associated with endotracheal intubation and are gaining acceptance as an efficient non-invasive technique for maintaining airway during short surgical procedures.

Porter’s Analysis

Threat of new entrants: The airway management devices market requires high R&D investment and regulatory approvals which poses a medium threat of new entrants.

Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of various product alternatives in the market.

Bargaining power of suppliers: A few major players dominate the supply side hence exerting high bargaining power over suppliers.

Threat of new substitutes: There exists a low threat from substitutes due to lack of substitutes that can provide similar airway management functions.

Competitive rivalry: The airway management devices market witnesses high competitive rivalry due to the presence of major established players.

Key Takeaways

The Global Airway Management Devices Market Share is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing prevalence of respiratory diseases and surgical procedures.

North America region is projected to dominate the airway management devices market during the forecast period owing to increasing obesity rates in countries like the US and Canada. The Asia Pacific region is anticipated to exhibit the fastest growth rate as a result of improving healthcare infrastructure and rising medical tourism in countries like India and China.

Key players operating in the airway management devices market include Medtronic PLC, ICU Medical, Inc., Viggo Medical Devices, Teleflex Incorporated, Olympus America, Polymedicure,Verathon Inc., SourceMark, SunMed, KARL STORZ, Flexicare Group Limited, and Vyaire Medical. Medtronic PLC, Teleflex Incorporated and Smiths Medical account for the largest market share due to their diverse product portfolio and strong global presence.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it