Airway Management Devices Market Worth $3.1Bn, Globally, by 2028 at 6.9% CAGR - Exclusive Research Report by The Insight Partners

New York, Sept. 23, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on "Airway Management Devices Market Size, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, End User, and Geography," the airway management devices market size was valued at $1.94 Billion in 2021 and is likely to be valued at $3.10 Billion by 2028; it is estimated to grow at a CAGR of 6.9% during 2022–2028. Rise in the prevalence of respiratory disorders and increase in new product launches and approvals in the airway management devices market are expected to fuel the market growth; however, increase in product recalls and lack of reimbursement policies in developing economies are likely to hamper the market growth.

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Airway Management Devices Market Report Scope, Segmentations, Regional & Country Scope:

Browse key market insights spread across 202 pages with 84 list of tables & 75 list of figures from the report, "Airway Management Devices Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product [Infraglottic Devices (Endotracheal Tubes, Tracheostomy Tubes, and Others), Supraglottic Devices, Resuscitators, Laryngoscopes, Others] and End User (Hospitals, Ambulatory Surgical Care Centers, and Others)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/airway-management-devices-market

Global Airway Management Devices Market: Competitive Landscape and Key Developments
Teleflex Incorporated; Smiths Medical; Medtronic; Intersurgical Ltd.; Ambu A/S; Medline Industries, Inc.; Koninklijke Philips N.V.; Armstrong Medical; Mercury Medical; and Cook Medical LLC are among the leading companies operating in the global airway management devices market. These players are focusing on expanding, diversifying their market presence, and acquiring a novel customer base, thereby tapping prevailing business opportunities.

In July 2022, Verathon announced the release of the BFlex 2.8 Single-use Bronchoscope. BFlex single-use bronchoscopes are designed specifically for the critical needs of the ICU, OR, and ED. The BFlex 2.8 is Verathon's first single-use pediatric bronchoscope and delivers the drivability and image quality needed for pediatric bronchoscopies, airway management, and lung isolation procedures.

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In January 2022, ICU medical acquired Smiths Medical business from Smiths Group plc. This will create more opportunities for the medical segment of the company.

In May 2021, Teleflex entered into a definitive agreement with Medline Industries Inc. to sell certain product lines within the global respiratory product portfolio.

In May 2021, Medtronic launched the SonarMed airway monitoring system to continuously check any endotracheal tube (ETT) obstruction and position for neonates and infants. It is the first and only device of its kind. The SonarMed airway monitoring system utilizes acoustic technology to check for ETT obstruction and verify position in real-time, giving clinicians vital information required to make more informed, life-saving decisions for their patients.

In April 2021, Smiths Medical launched an acapella choice blue vibratory PEP therapy system designed to aid in the removal of secretions for patients who have cystic fibrosis, chronic obstructive pulmonary disease (COPD), asthma, lung diseases with secretory problems, and atelectasis.

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In 2021, North America dominated the airway management devices market. The US holds the largest share of the market in this region. The rising prevalence of respiratory disorders such as COPD, asthma, pneumonia, and cystic fibrosis is creating the demand for airway management devices in the country. Currently, asthma and chronic obstructive pulmonary disease (COPD) are major health burdens in the US. Asthma is a chronic inflammatory disorder caused due to airway narrowing and obstruction and COPD is due to obstruction of airflow from the lungs, which causes chronic inflammatory lung disease. Smoking is the main cause of COPD in the US. The increasing number of smokers in the US is driving the airway management devices market. Moreover, the presence of major market players in the region, along with various product launches, approvals, mergers & acquisitions, and partnerships in the region, is expected to drive the airway management devices market.

Rise in Prevalence of Respiratory Disorders:
Chronic respiratory diseases are among the most prevalent noncommunicable diseases worldwide due to the increase in the noxious environment and occupational and behavioral inhalation. This spectrum of diseases includes chronic obstructive pulmonary disease (COPD), asthma, interstitial lung disease, pulmonary sarcoidosis, and pneumoconiosis (such as silicosis and asbestosis). According to the World Health Organization (WHO), COPD is the third leading cause of death globally. In 2019, ~3.23 million people died globally due to COPD. As per the Office of Disease Prevention and Health Promotion, ~14.8 million adults in the US were diagnosed with COPD in 2020. The National Health Service stated that ~1.17 million people in the UK were diagnosed with COPD in 2021, i.e., ~1.9% of the total population. As per the WHO report, asthma affected 262 million people globally and caused 455,000 deaths in 2019. Moreover, in 2019, asthma resulted in 439,000 hospitalizations and an estimated 1.3 million visits in the US. The rising prevalence of respiratory disorders is driving the growth of airway management devices market.

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Additionally, there is a constant surge in the number of hospitals, ambulatory surgical centers, intensive care units, and clinics, creating demand for airway management devices. For instance, according to the American Hospital Association report, there were a total of 6,093 hospitals in the US, including community hospitals, non-federal psychiatric hospitals, and federal government hospitals. Furthermore, various organizations and government bodies are collaborating to increase awareness among a large population and manage chronic disorders. Government authorities and healthcare institutions are initiating various programs to increase asthma awareness to prevent morbidity from the disease. The National Asthma Control Program (NACP), launched by the Centers for Disease Control and Prevention (CDC), is working continually to raise the level of awareness regarding asthma. The program is dedicated to conducting asthma surveillance and research to deal with the disease. Additionally, Airway Collaborative is an education program designed to provide medical professionals with knowledge about incorporating airway treatment into practice and healing airway dysfunctions.

Airway Management Devices Market: Segmental Overview
Based on product, the airway management devices market is segmented into infraglottic devices, supraglottic devices, laryngoscopes, resuscitators, and others. The infraglottic devices segment is sub-segmented into endotracheal tubes, tracheostomy tubes, and others. The infraglottic devices segment held the largest share of the market in 2021; however, the supraglottic devices segment is anticipated to register the highest CAGR of 7.2% during the forecast period.

Based on end user, the airway management devices market is segmented into hospitals, ambulatory surgical care centers, and others. In 2021, the hospitals segment held the largest market share; however, the ambulatory surgical centers segment is expected to register the highest CAGR in the market during the forecast period.

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The COVID-19 pandemic placed a remarkable strain on healthcare systems globally. To decrease the risk of virus transmission to patients or health care workers within their practice, health care providers postponed or suspended elective and preventive visits, such as annual physicals, and converted in-person visits to telemedicine visits whenever possible. However, the airway management devices market will remain attractive in the long run. The COVID-19 infection affects the respiratory system of an individual. This created the demand for airway management devices to treat COVID-19 patients effectively. The major market players from different industries established the production line for various medical equipment such as PPE kits, face masks, ventilators, endotracheal tubes, and many more. During the pandemic, the market experienced significant growth, owing to the high demand for airway management devices. Thus, the COVID-19 pandemic positively impacted the growth of the airway management devices market.

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