by Endotracheal tubes are medical devices inserted through the mouth into the trachea to maintain an open airway or to administer certain medications. They are majorly used during surgeries that require general anesthesia or during mechanical ventilation. Endotracheal tubes come in various sizes and are used in intensive care units, emergency rooms, and operating rooms. They help provide oxygen to the lungs and remove carbon dioxide from the body during surgery. Growing prevalence of respiratory diseases and rise in number of surgical procedures are some key factors expected to drive the growth of the global endotracheal tube market. The market is also driven by increasing incidence of chronic obstructive pulmonary disease, asthma, sleep apnea, and rising geriatric population undergoing various medical procedures.
The global endotracheal tube market is estimated to be valued at US$ 920 Mn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Endotracheal Tube Market is Expected to be Flourished by Growing Demand for Anesthesia Procedures
One of the key drivers for the endotracheal tube market growth is the rising number of anesthesia procedures performed globally. As per the National Inpatient Sample survey conducted in the U.S., there were over 25 million ambulatory surgery cases in 2019 requiring anesthesia care. Growing prevalence of chronic diseases is leading to increase in surgical procedures such as cardiovascular, cancer, orthopedic, and ENT surgeries. This is consequently driving the demand for anesthesia and endotracheal tubes for airway management. Additionally, advancements in endotracheal tubes with enhanced safety, efficacy and patient comfort are also fueling the market growth. Manufacturers are focusing on development of multi-purpose endotracheal tubes and cuffed tubes with high volume-low pressure cuffs for improved seal and protection against lung injury during mechanical ventilation.
Segment Analysis
The global endotracheal tube market is dominated by the adult endotracheal tube segment due to higher prevalence of respiratory conditions among adults as compared to infants. Adult endotracheal tubes are available in various sizes depending on the patient’s age and physical condition. The pediatric endotracheal tube segment is also growing at a steady pace owing to increasing focus on pediatric healthcare.
PEST Analysis
Political: Healthcare reforms and initiatives to improve access to critical care equipment across various countries are fueling market growth. However, stringent regulations can hamper product approval and adoption.
Economic: Rising healthcare expenditure, growing demand for invasive and non-invasive ventilation procedures, and availability of reimbursement drive the market. High treatment costs in developed nations act as a restraint.
Social: Increasing incidence of preterm births and respiratory disorders along with growing geriatric population vulnerable to respiratory failures support market expansion.
Technological: Advancements in materials for enhanced safety and development of user-friendly tubes with integral features boost adoption.
Key Takeaways
The Global Endotracheal Tube Market Growth is expected to witness high at a CAGR of 9.0% during the forecast period of 2023 to 2030. North America dominates the market currently owing to advanced healthcare facilities and higher acceptance of new technologies. Factors such as rising prevalence of respiratory diseases, accidents, and surgical procedures contribute to market growth in the region.
Regional analysis: Asia Pacific is anticipated to be the fastest growing regional market. This can be attributed to large patient pool, increased healthcare spending, growing Medical Tourism industry, and emergence of manufacturers in countries such as India and China.
Key players operating in the endotracheal tube market are Medtronic Plc, Teleflex Inc., ConvaTec Inc., Smiths Medical, Neurovision Medical Products, Intersurgical Inc., Royax, Novo Klinik-Service GmbH, Avanos Medical, Inc., Bactiguard, and N8 Medical LLC. Medtronic dominates currently due to widespread geographic presence and broad product portfolio. Teleflex also has a sizable market share owing to innovative product launches catering to diverse patient needs.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
