According to a recent study report, the airway management devices market is predicted to generate $1.8 billion in revenue in 2022, growing to $2.4 billion by 2028. This equates to a compound annual growth rate (CAGR) of 5.6% between 2022 and 2028. The research looks at market purchasing patterns, price analysis, patent valuation, conference and webinar materials, and industry trends. Several factors are propelling market growth, including a rise in surgical procedures, an increase in the prevalence of chronic respiratory illnesses such as asthma and COPD, and an increase in demand for airway management devices in emerging economies.
Airway Management Devices Market Dynamic
DRIVER: Rising incidence of pre-term births globally
Preterm birth occurs when a baby is born before the full 37 weeks of pregnancy. Premature births have recently become more common on a global scale. Babies who have trouble breathing may benefit from mechanical ventilation. These infants may also have breathing difficulties, apnea, asthma, and other respiratory abnormalities. Taking these factors into consideration, the growing prevalence of pre-term neonates promotes demand for airway management equipment. Vendors are offering items that satisfy the needs of newborns and paediatric patients in order to address the need for products that come in a variety of sizes and forms for airway control.
Restraint: Lack of reimbursement policies across emerging countries
Pricey airway management devices are rarely frequently utilised in emerging nations due to poor reimbursement systems or a lack of public health insurance coverage. Individuals are pushed to spend money they don't have because of ineffective policies and a lack of support for universal health care, which has a negative impact on the financial status of the poor throughout developing countries. Such circumstances have made a country more vulnerable to the threat of chronic diseases. Due to the high out-of-pocket costs of healthcare, the restricted adoption of costly medical devices such as video laryngoscopes and advanced surgical methods in developing countries has become a key market constraint.
OPPORTUNITY: Rising growth potential in developing countries
Market participants may anticipate future development opportunities from growing economies such as China, India, and Brazil. The primary motivation for development is because China and India have massive target patient populations. China's one-child policy has resulted in a considerable decrease in working-age population while increasing the elderly population. Furthermore, Malaysia and India have become important medical tourism hubs. Surgical procedures in these impoverished countries are substantially less expensive than in wealthier countries like the United States, Germany, France, and the United Kingdom. As the number of procedures grows, more airway management and anaesthetic treatments will be necessary.
CHALLENGE: Dearth of skilled professionals
Advanced training is required for airway management procedures such as cricothyrotomy, tracheostomy, and endotracheal intubation. Due to a lack of knowledge regarding the optimal course of urgent treatment, the patient's health may deteriorate, the recovery period may prolong, and direct and indirect expenditures may rise. A scarcity of anesthesiologists and paramedics is a big concern for governments all over the world. The paucity of airway management equipment used in these surgeries has further impacted the efficacy and ability of healthcare facilities to provide surgical and emergency treatment.
Airway Management Devices Ecosystem
- Well-known, financially sound makers of airway management devices are among the market's leaders. These businesses have been around for a while and provide a wide range of products, cutting-edge technology, and powerful global sales and marketing networks. Among the well-known firms in this industry are Medtronic (Ireland), ICU Medical, Inc. (US), Teleflex Incorporated (US), Ambu A/S (Denmark), and ConvaTec Group Plc (UK).
- The infraglottic category is predicted to expand the quickest in the airway control devices market by 2022.
- Based on type, the infraglottic category is expected to grow the quickest throughout the projected period. Acute respiratory failure is becoming more common as the prevalence of cardiovascular illness, chronic respiratory diseases, and respiratory tract infections rises. This is increasing the need for intubation methods and infraglottic devices across the world.
- The anaesthesia industry is expected to have the largest market share for airway management devices in 2022.
- The anaesthetic application sector had the largest share during the predicted period. One of the reasons leading to the market's broad segmentation is the increasing number of surgical procedures. Airway management devices are also used during anaesthesia treatments due to the increased need for maintaining a secure breathing path to reduce the risk of anesthesia-related problems during surgery.
- The paediatric patient segment is expected to grow at the fastest rate during the forecast period.
- The pediatric/neonatal patients category is expected to grow at the fastest CAGR throughout the projection period. Worldwide, preterm birth rates are increasing, resulting in an increase in need for airway care among paediatric and neonatal patients.
- In 2022, hospitals held the largest market share for airway management devices by end user.
- Throughout the projection period, the hospital segment held the biggest market share. The significant proportion of this market may be due to the expansion of hospitals and economic and infrastructure development, particularly in emerging nations. Additionally, the strong growth in the hospitals category is supported by the growing number of surgical procedures performed during any surgery.
- North America is expected to lead the market for airway management devices in 2022.
- North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa comprise the segments of the worldwide market. Due to its advanced healthcare system, rising incidence of chronic respiratory disorders, and favourable reimbursement policies for airway management devices, North America is anticipated to lead the market throughout the forecast period.
The airway management devices market is dominated by players such Medtronic (Ireland), ICU Medical, Inc. (US), Teleflex Incorporated (US), Ambu A/S (Denmark), ConvaTec Group Plc (UK).
Recent Developments
In 2022, SunMed Holdings (US) announced a strategic partnership with Securisyn Medical LLC (US) to enhance ventilated patient safety and broader smooth tube and catheter security.
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In 2022, Coloplast A/S acquired Atos Medical to add a new chronic business segment – ENT & Respiratory Care, which will run as a separate strategic unit, operating on shared Coloplast infrastructure.
- In 2022, ICU Medical, Inc. acquired Smiths Medical (US), which includes a syringe and ambulatory infusion devices, vascular access, and vital care products. When combined with ICU Medical’s existing businesses, it created a leading infusion therapy company.