The global airway management devices market is projected to achieve substantial growth, reaching USD 2.2 billion by 2033, up from USD 1.6 billion in 2023, according to a new report by FMI. This represents a compound annual growth rate (CAGR) of 3.6% over the forecast period.
In 2022, the market was valued at USD 1.5 billion, with a CAGR of 3.2% expected throughout the projection period. The absolute dollar growth is estimated to be USD 668.5 million, underscoring significant expansion opportunities in the sector.
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Key drivers fueling market growth include the increasing prevalence of respiratory disorders globally. The World Health Organization (WHO) estimates that approximately 65 million people suffer from moderate-to-severe Chronic Obstructive Pulmonary Disease (COPD), making it a major global health concern and the third leading cause of death worldwide.
The rise in surgical procedures requiring anesthesia administration further contributes to the demand for advanced airway management devices. These devices play a crucial role in emergency treatments and long-term therapy for respiratory conditions across all age groups, from pediatric to adult patients.
“We anticipate continued growth in the airway management devices market as healthcare providers seek innovative solutions to meet the rising demand for respiratory care,” said FMI. “Our analysis indicates significant opportunities for market players to develop and introduce advanced technologies that enhance patient outcomes.”
The report highlights that North America and Europe are expected to dominate the market, driven by robust healthcare infrastructure and high healthcare expenditure. Meanwhile, Asia-Pacific is poised to witness accelerated growth due to improving healthcare access and increasing awareness of respiratory health.
Key Takeaways:
- The market is estimated to drive due to increased demand for emergency and intensive care.
- The rise in the prevalence of respiratory diseases is likely to drive the growth of the market for airway management devices.
- The airway management devices market is expected to be worth USD 1.6 billion in 2023.
- Airway management devices market is forecasted to register a 3.6% CAGR from 2023 to 2033.
- North America is likely to dominate the market for airway management devices market.
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Recent Developments:
- Verathon Inc. introduced the GlideScope Core 15 airway visualisation system in January 2020, which employs a 15-inch high-definition touchscreen monitor to provide improved visibility.
- In January 2020, Smiths Medical, Inc. announced the expansion of its Portex Tracheostomy Tubes and Kits line by releasing a PVC-based tracheostomy tube range. The portfolio includes BLUperc, BLUselect tracheostomy tubes, and BLUgriggs percutaneous tracheostomy kits and trays.
- Olympus Corporation, a global technology leader in inventing and delivering new solutions for surgical and medical procedures, among other core activities, announced the release of two video rhino-laryngoscopes in September 2019. It is proposed that the ENF-VH2/V4 be specially constructed for laryngological tests.
- In September 2018, Royal Philips announced the development of a resuscitation device in conjunction with the Consortium for Affordable Medical Technologies (CAMTech) to aid in the reduction of infant mortality.
- In January 2019, Oventus Medical, a medical device business, unveiled O2 Vent Optima, a new product. It is used to treat obstructive sleep apnea. It is based on the airway technology developed by Oventus Medical. It keeps the airway from contracting and allows for unrestricted airflow from the tongue, soft palate, and nose. It is suitable for usage with or without continuous positive airway pressure.
Key Companies Profiled:
- Medtronic Plc
- Teleflex Incorporated
- Ambu A/S
- Smith’s Group plc.
- Intersurgical Ltd.
- Cook Medical Inc.
- SunMed
- Vyaire Medical Inc
- VBM Medizintechnik GmbH
- Karl Storz SE & Co. KG
- Cook Gas LLC
- Flexicare (Group) Limited
- BVLM Pty Ltd
- Boston Medical Products Inc. (BESS GROUP)
- Salter Labs
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Airway Management Devices Market Key Segments:
By Product Type:
- Laryngeal Masks
- Tracheostomy Tubes
- Endotravheal Tubes
- EndoBronhial Tubes
- Nasal Airway Tubes
- Oral Airway Tubes.
By Usage Type:
- Single Use/ Disposable
- Reusable
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
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 stands as 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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