The Global Endotracheal Tube Industry is on a promising growth trajectory, according to a recent analysis by Future Market Insights (FMI). The market, valued at US$2.2 billion in 2022, is projected to reach a staggering US$4.5 billion by 2033, reflecting a compelling Compound Annual Growth Rate (CAGR) of 6.8%. This significant growth is expected to occur between 2023 and 2033, highlighting a pivotal decade for market expansion.
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Patients on a ventilator or pruning for an endotracheal tube for more than 48 hours are at a higher risk of developing Ventilator-Associated Pneumonia (VAP). Owing to this, several companies are designing products with antithrombotic and antibacterial qualities that can help avoid VA. Medtronic Shiley Evac endotracheal tubes, as an example, are said to minimize VA by 50%.
Due to rising healthcare spending, rising disposable revenue leading to higher affordability, and increasing patient preference for endotracheal-covered tubes, Asia Pacific is expected to witness significant growth during the projection period. Higher market growth would be aided by India’s growing population, improved patient awareness of ventilator-related pneumonia, and increased cancer, lung illnesses, and cardiovascular disease incidence.
Key Highlights:
- Global Sales Hit US$2.2 Billion in 2022: The report showcases that the Endotracheal Tube Market achieved global sales of US$2.2 Billion in 2022, signaling a robust foundation for future growth.
- CAGR of 6.8% from 2023 to 2033: The market is projected to maintain an impressive CAGR of 6.8% throughout the period from 2023 to 2033, emphasizing sustained and steady expansion.
- Projections for 2033 Reach US$4.5 Billion: Riding on the wave of consistent growth, the Endotracheal Tube Market is anticipated to reach a valuation of US$4.5 Billion by 2033, underscoring its potential and significance in the healthcare sector.
- Emergency Treatment Application Leads Revenue Generation: The analysis identifies the Emergency Treatment application as the frontrunner in revenue generation, with an expected CAGR rate of 7.3% from 2023 to 2033. This highlights the crucial role of endotracheal tubes in emergency medical scenarios.
Global Endotracheal Tube Industry Competitive Landscape
The key players in the market include Teleflex Corporation, Medtronic, Medline Industries, Venner Medical, Sonoma Pharmaceutical, Hospiteknik Healthcare, Armstrong Medical, Airway Innovations, and Smith’s Group.
A few of the recent developments of key Endotracheal Tube providers are as follows:
- In April 2020, Hydromer teamed up with N8 Medical to become the official coating and manufacturing partner for the CeraShield Endotracheal Tube, which is used to treat mechanically ventilated COVID-19 patients across Canada.
- In August 2020, Bactiguard’s endotracheal tubes for the prevention of COVID-19 infection received approval from Health Canada under an Interim Order. In critically ill patients, the innovative gadget aids in the reduction of secondary infection risks.
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Endotracheal Tube market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights by Product Type (Regular Endotracheal Tube, Reinforced Endotracheal Tube, Preformed Endotracheal Tube, Double lumen Endotracheal Tube), by Route Type (Orotracheal, Nasotracheal), by Application ( Emergency Treatment, Therapy, Other Applications), by End-use (Hospitals, Clinics, Ambulatory Surgical Centres, Other End-uses) across five regions (North America, Latin America, Europe, APAC and Middle East & Africa).
Segments Covered in Global Endotracheal Tube Industry Analysis
By Product Type:
- Regular Endotracheal Tube
- Reinforced Endotracheal Tube
- Preformed Endotracheal Tube
- Double-lumen Endotracheal Tube
By Route Type:
- Orotracheal
- Nasotracheal
By Application:
- Emergency Treatment
- Therapy
- Other Applications
By End-use:
- Hospitals
- Clinics
- Ambulatory Surgical Centres
- Other End-uses
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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