The global airway management devices market was valued at $1.8 billion in 2022 and is projected to reach $2.4 billion by 2028, growing at a CAGR of 5.6% from 2022 to 2028. The latest research study analyzes industry trends, pricing, patents, conference materials, key stakeholders, and buying behavior. Market growth is driven by increasing demand in developing countries, more surgical procedures, and rising prevalence of chronic respiratory diseases like asthma and COPD. However, the lack of reimbursement policies in emerging countries may pose challenges. The demand for intensive care units presents growth opportunities.
Attractive Opportunities in the Airway Management Devices Market
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Airway Management Devices Market Dynamics
Driver: Rising Incidence of Pre-Term Births Globally
Preterm births, occurring before 37 weeks of pregnancy, have been increasing worldwide. Premature babies often require mechanical ventilation due to breathing issues, and may develop conditions such as apnea and asthma. The rising incidence of pre-term births drives the global demand for airway management devices, prompting vendors to offer products tailored for infants and pediatric patients.
Restraint: Lack of Reimbursement Policies in Emerging Countries
The adoption of expensive airway management devices is low in emerging countries due to ineffective reimbursement policies and lack of public health insurance coverage. This forces individuals to pay out-of-pocket, impacting the financial condition of the poor and limiting access to advanced medical devices like video laryngoscopes.
Opportunity: Growth Potential in Developing Countries
Developing countries such as China, India, and Brazil offer significant growth opportunities. A large target patient population, reduced working-age population in China, and medical tourism in countries like India and Malaysia drive demand for airway management devices. Lower costs of surgical procedures in these countries compared to developed nations further contribute to this growth.
Challenge: Shortage of Skilled Professionals
Airway management procedures require highly skilled anesthetists and trained nurses. The lack of skilled professionals can adversely affect patient outcomes, increase recovery time, and raise costs. This shortage impacts the efficiency of healthcare settings, hindering the demand for airway management devices.
Airway Management Devices Market Ecosystem
Prominent companies in this market include Medtronic (Ireland), ICU Medical, Inc. (US), Teleflex Incorporated (US), Ambu A/S (Denmark), and ConvaTec Group Plc (UK). These companies have diversified product portfolios, advanced technologies, and strong global sales and marketing networks.
Segment Analysis
Type: Infraglottic Segment
The infraglottic segment is expected to observe the highest growth due to the increasing prevalence of cardiovascular diseases, chronic respiratory diseases, and respiratory tract infections, driving the demand for intubation procedures and infraglottic devices.
Application: Anesthesia Segment
The anesthesia segment accounted for the largest share, driven by the rising number of surgical interventions and the need for maintaining a safe breathing passage during surgery to lower anesthesia-related complications.
Patient Age: Pediatric Patients
The pediatric/neonatal patients segment is expected to grow at the highest CAGR due to the rising number of pre-term births globally, driving demand for airway management devices.
End User: Hospitals Segment
The hospital segment accounted for the largest market share, supported by the increasing number of hospitals, infrastructural development, and rising surgical procedures.
Regional Analysis
North America
North America is expected to dominate the market due to a highly developed healthcare system, increasing prevalence of chronic respiratory diseases, and favorable reimbursement policies.
Recent Developments
- In 2022, SunMed Holdings (US) partnered with Securisyn Medical LLC (US) to enhance ventilated patient safety.
- Coloplast A/S acquired Atos Medical to add a new chronic business segment – ENT & Respiratory Care.
- ICU Medical, Inc. acquired Smiths Medical (US), creating a leading infusion therapy company.
Airway Management Devices Market Report Scope
- Revenue in 2022: $1.8 billion
- Projected Revenue in 2028: $2.4 billion
- Growth Rate: CAGR of 5.6%
- Key Drivers: Rising pre-term births
- Opportunities: Growth in developing countries
The research report categorizes the market to forecast revenue and analyze trends in various submarkets, including by region, product, patient age, application, and end user.