Airway management devices are used to ensure a clear pathway for breathing during emergencies or unconscious state. These include laryngeal mask airways, endotracheal tubes, breathing circuits, tracheostomy tubes, laryngoscopes, etc. They allow unobstructed oxygen flow and protects the lungs from gastric contents. With rising incidence of motor vehicle accidents, fire mishaps and trauma injuries globally, the demand for securing airways has increased significantly. Chronic respiratory conditions like asthma and Chronic Obstructive Pulmonary Disease (COPD) have emerged as major public health problems. As per WHO estimates, over 300 million people suffer from asthma worldwide with projections of it becoming the third leading cause of death by 2030. This has further propelled the utilisation of airway management in hospitals as well as pre-hospital emergency settings.
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 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Some of the key trends in the airway management devices market include the growing preference for video laryngoscopes over conventional laryngoscopes. Video laryngoscopes provide indirect vision and real-time images of the glottic opening on a screen, reducing the cognitive load on providers during intubations. This has improved first-pass success rates especially in difficult airway scenarios. Another notable trend is the integration of advanced technologies like virtual reality simulation for training professionals in airway management skills. This promotes competency-based learning and assessment without exposing real patients to risks of failed intubations during training sessions. Such simulated training environments are anticipated to transform airway management education globally.
Porter’s Analysis
Threat of new entrants: The airway management devices market requires huge capital investments and established distribution networks limiting the threat of new entrants.
Bargering power of buyers: The bargaining power of buyers is moderate as the demand for airway management devices is dependent on the number of surgical procedures performed.
Bargaining power of suppliers: A few major players dominate the supply market for raw materials and components used in airway management devices limiting the bargaining power of suppliers.
Threat of new substitutes: There exists a low threat of substitution since airway management devices are essential for respiratory care and intensive care units offering no viable substitutes.
Competitive rivalry: The global airway management devices market is highly competitive with major players differentiating their products based on technology and quality.
Key Takeaways
The global Airway Management Devices Market Growth is expected to witness high growth driven by the rising cases of respiratory diseases, surgical procedures and growing geriatric population. North America is expected to dominate the market during the forecast period owing to developed healthcare infrastructure, favorable reimbursement policies and presence of key players in the region. Europe is also expected to hold a significant share in the global market due to increased funding for research and availability of advanced treatment options in the region.
Key players operating in the airway management devices market are Nanya PCB, Tripod Technology Corporation, Unimicron Technology Corporation, Ibiden Co., Ltd., Compeq Manufacturing Co., Ltd., TTM Technologies, Inc., Kingboard Holdings Limited, Shennan Circuits Company Limited, AT&S Austria Technologie & Systemtechnik AG, and Multek. The major players are focusing on new product launches, partnerships and acquisitions to strengthen their market positions and expand their geographic presence globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.