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Global Airway Management Devices Market Growth Accelerated by Rising Incidences of Respiratory Diseases

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Sneha
Global Airway Management Devices Market Growth Accelerated by Rising Incidences of Respiratory Diseases

Airway management devices help physicians and healthcare professionals for the management of airway during an emergency and in the operating room. The devices are used for securing the airway, oxygenation, ventilation and intubation. Increasing prevalence of respiratory diseases like asthma, chronic obstructive pulmonary disease (COPD) and others has fueled the demand for airway management devices.

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 6.9% over the forecast period 2023–2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The rising incidences of respiratory diseases are one of the key factors driving the growth of the airway management devices market. Acute respiratory diseases which includes influenza, pneumonia, bronchitis account for around 6.5 million deaths annually according to WHO. Other chronic respiratory conditions including asthma and COPD also pose a significant disease burden. For instance, around 235 million people suffer from asthma globally as per WHO and over 329 million people suffer from COPD as per Global Burden of Disease Study 2017. The increasing patient pool of respiratory diseases indirectly increases the demand for airway management devices for better treatment outcomes in emergency units and operating rooms. Additionally, growing demand for homecare devices and value added features in endotracheal tubes and laryngeal mask are further supplementing the market growth.

Segment Analysis

The oropharyngeal airway management devices segment dominated the airway management devices market in 2023, accounting for revenue of US$ 653.66 Mn. Oropharyngeal airway management devices such as oropharyngeal airways and nasopharyngeal airways are most commonly used to keep the airway open and unobstructed. The ease of use and widespread availability of oropharyngeal airway management devices has driven their high adoption rates globally.

Key Takeaways

The Global Airway Management Devices Market Growth is expected to witness high during the forecast period of 2023 to 2030. With forecasted CAGR of 6.9%, the market size is projected to reach US$ 3,261.02 Mn by 2030 from US$ 1949.53 Mn in 2023.

Regional analysis

North America dominated the global market in 2023 and is expected to maintain its leading position during the forecast period. High awareness about advanced airway management devices among healthcare professionals and availability of state-of-the-art healthcare facilities are major factors fueling the growth of the North America airway management devices market.

Key players

Key players operating in the Airway Management Devices market are Cargill, Archer Daniels Midland Company (ADM), Bunge Limited, Ingredion Incorporated, Associated British Foods (ABF), Tate & Lyle, Agrana Beteiligungs AG. The global market is consolidated with prominent players holding majority market share. These players are focusing on new product launches and geographical expansion to strengthen their market position.

Explore more information on this topic, Please visit -

https://www.insightprobing.com/airway-management-devices-market-size-and-forecasts-analysis/

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