April 22, 2024

Endotracheal Tube Market is Estimated to Witness High Growth Owing to Increasing Incidences of Respiratory Diseases

Endotracheal tubes provide a safe and effective way of delivering oxygen to patients suffering from respiratory diseases and securing airways during surgeries involving general anesthesia. The tubes help physicians effectively manage airway patency and supply breathable gas while preventing entry of foreign substances into the lungs. Rising prevalence of chronic respiratory diseases like asthma, chronic obstructive pulmonary disease (COPD), and respiratory tract infections globally has fueled demand for endotracheal procedures and associated products.

The Global Endotracheal Tubes Market Size  is estimated to be valued at US$ 1059.84 Mn in 2024 and is expected to exhibit a CAGR of 9.0% over the forecast period from 2024 to 2031.

Key Takeaways
Key players operating in the endotracheal tube market are Medtronic Plc, Teleflex Inc., ConvaTec Inc., Smiths Medical, Neurovision Medical Products, Intersurgical Inc., Royax, Novo Klinik-Service GmbH, Avanos Medical, Inc., Bactiguard, and N8 Medical LLC. These players are engaged in new product launches, mergers, and acquisitions to enhance their market presence.
Key opportunities in the market include rising demand for customized and specialty endotracheal tubes and growing need for ventilator associated tracheostomy tubes. The market is also witnessing increased adoption of single-use and biofilm-resistant endotracheal tubes to control hospital acquired infections.
With growing incidences of respiratory diseases globally, major market players are focusing on expanding their manufacturing and distribution networks across emerging regions of Asia Pacific, Latin America, and Middle East & Africa. This is expected to boost overall sales volumes in the endotracheal tube market during the forecast period.

Market drivers
The increasing number of surgical procedures performed worldwide and growing geriatric population prone to respiration related issues are major market drivers for endotracheal tubes. As per estimates, over 312 million surgeries are performed annually across the globe, majority of which require intubation with endotracheal tubes. Moreover, aged population above 65 years is expected to reach nearly 22% of the total global population by 2050, thereby augmenting demand for emergency airway management devices.

PEST Analysis
Political: Endotracheal tube regulations varies across countries and regions. Government healthcare policies and reimbursement schemes influence market growth.
Economic: Rising healthcare expenditure, growing geriatric population, and increasing cases of respiratory diseases are boosting demand.
Social: Increasing awareness about critical care devices and rising adoption of advanced treatment methods are key factors.
Technological: Advancements in material science help develop low-cost, user-friendly endotracheal tubes with safety and efficacy.

Endotracheal tube consumption is mostly concentrated in North America and Europe. These developed regions have advanced healthcare infrastructure and higher adoption of critical care devices. Growing respiratory problems due to rising pollution and lifestyle diseases also drives market in these regions.

The Asia Pacific region is poised to be the fastest growing market for endotracheal tubes. Factors such as improving access to healthcare, rising medical tourism, growing geriatric population, increasing incidence of respiratory diseases, and expanding medical device industry are fueling market growth in Asia Pacific. Rapid economic development, government efforts to modernize facilities, and increasing focus on critical care are contributing to regional market expansion.

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