11 March 2021
Visiongain has published a new report on Airway Management Devices Market Report to 2031: Forecasts by Type (Infraglottic Device (Endotracheal Tubes, Tracheostomy Tubes), Supraglottic Device (LMAs, OPAs, NPAs), Resuscitators, Laryngoscopes, and others), End-User (Operating Rooms, Emergency Care Departments, Intensive Care Units, and Other End Users), Patient Age (Adult and Paediatric) PLUS COVID-19 Recovery Scenarios.
Global Airway Management Devices market size is projected to reach US$ XX Million in 2021 and is expected to display strong revenue growth through to 2031.
COVID-19 Impact on Airway Management Devices Market
The COVID-19 pandemic has deleteriously affected all the countries and industries. Similarly, the Airway Management Devices market is anticipated to take a hit. The target industry is now facing challenges to manage the interrupted demand and supply of components. Also, unpredictable and disturbing supply chain activities and the unavailability of human resources are anticipated to impact the target industry growth. Hence, the overall COVID-19 impact is expected to continue to moderate for the global key players operating in the industry.
Increasing Incidence Rate of Chronic Respiratory Diseases
The growing occurrence of respiratory diseases is expected to have a high impact on the target industry growth. According to the data by the World Health Organization (WHO), approximately 65 million people suffer from moderate-to-severe chronic obstructive pulmonary disease (COPD). Besides, COPD is expected to have a high mortality rate after cardiovascular disease and stroke worldwide. As per the statistics by the Centers for Disease Control and Prevention, in the U.S., around 9.0 million adults which are around 3.6% of the total population were diagnosed with chronic bronchitis in 2018. Whereas nearly 3.8 million adults which are around 1.5% of the total population were diagnosed with emphysema in the same year.
The growing need for an emergency care support system for prolonged diseases as well as prolonged treatments related to lung infection among the population is anticipated to fuel the airway management devices' market growth.
Growing Demand for Supraglottic Airway Devices during Anaesthesia Procedure
Insertion of supraglottic airway devices is important during the administration of anaesthesia, in most of the anaesthetic procedures, these devices are preferable. The target industry is projected to upsurge at a significant rate as the devices are crucial and broadly used during anaesthesia procedures. Moreover, it does not only play a vital role in challenging airway procedures but also in emergency medicine, and for pre-hospital use. The rising number of surgical procedures such as bariatric surgeries, brain surgeries, cardiac surgery, and organ transplantation is also anticipated to boost the demand for airway management devices.
Acquisitions and Mergers Will Generate Beneficial Growth Opportunities
Acquisitions and mergers are projected to generate huge opportunities for the global players operating in the target industry growth for the expansion of product portfolio and business presence across the world. For instance, on 30th September 2020, Medtronic plc publicized the purchase of Avenu Medical.
Key players operating in the global Airway Management Devices market are Ambu, Smiths Medical, Medtronic, VBM Medizintechnik, Teleflex, Flexicare, SourceMark, Verathon, Intersurgical, SunMed, KARL STORZ, Vyaire Medical, and Salter Labs.
The key players have adopted new product development, product launches, product approval, agreement, partnerships, and merger as its key business development strategies to tap into the global Airway Management Devices market. For instance, on 28th October 2020, Olympus announced the commercial launch of HANAROSTENT® Esophagus TTS self-expanding metal stents (SEMS) made by M.I. Tech and distributed exclusively through Olympus in the U.S.
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