The latest market report published by Credence Research, Inc. “Global Tracheal Tube and Airway Products Market – Growth, Future Prospects, Competitive Analysis, 2019- 2027,” the global tracheal tube and airway products market was valued at US$ 3,150.1 Mn in 2018, and is expected to reach US$ 5,646.2 Mn by 2027, expanding at a CAGR of 6.8% from 2019 to 2027.
In recent years there has been a spurt in the number of adults smoking tobacco which is the chief precursor for any form of respiratory disease. Rising air pollution worldwide and constant rise in trauma accidents requiring intubation further accelerated the tracheal tube and airway products market growth.
Endotracheal tubes are dominating the product segment for tracheal tubes and airway products market. Significant rise in surgical procedures requiring anesthesia and flexibility in delivering medicines in unconscious patients together increases endotracheal tubes demand. Laryngeal masks are gathering tremendous response among surgeons as a viable option for mask anesthesia and in short surgical procedures which do not require endotracheal tubes.
Hospitals are spearheading the end-user segment for tracheal tube and airway products market. The chief aspects responsible for its magnificent growth are rising public health awareness resulting in significant rise in the number of inpatient visits and availability of intensive care unit well equipped with airway products. Ambulatory surgical centers are gaining huge traction on account of its ability to provide emergency medical intervention to patients suffering with pulmonary trauma in remote regions.
North America is leading the regional segment with a share of 35.1%. The major factors involved in its supreme market growth are rising prevalence of pulmonary disorders. According to Center for Disease Control and Prevention (CDC), research citing, chronic lower respiratory diseases are the 4th largest cause of death in the United States. Existence of pioneers such as Medline Industries, Inc., Medtronic, Plc., Teleflex Incorporated, Smiths Medical etc. further consolidates the market growth in the region. Europe is holding 30.6% market share on account of the supportive regulatory environment provided by the European Medical Agency (EMA) for the sale of tracheal tubes and airway products. Asia Pacific represents 16.8% market share and is keen to register imperative growth during the forecast period owing to the growing incidence of chronic pulmonary obstructive disease and significant rise in the number of smokers.
Pharmaceutical companies pioneering in tracheal tube and airway products market are Altera A.S., BOMImed, Inc., Boston Medical Products, Inc., Flexicare Medical Ltd., Medtronic, Plc., Medline Industries, Inc., Penlon, Smiths Medical, Teleflex Incorporated and VBM Medizintechnik GmbH.
Key Market Movements:
- Rising prevalence of chronic lower respiratory diseases throughout the globe
- Significant rise in the number of surgeries performed with availability of tracheal tube and airway products in different configurations
- Supportive regulatory environment provided by regulatory healthcare agencies worldwide
Browse the full report Tracheal Tube and Airway Products Market – Growth, Future Prospects, Competitive Analysis, 2019 – 2027 report at https://www.credenceresearch.com/report/tracheal-tube-and-airway-products-market
The Global Tracheal Tube and Airway Products Market is Segmented into:
|Segmentation||By Product (2017–2027; US$ Mn)|
|By End User (2017–2027; US$ Mn)|
|By Geography Segment (2017–2027; US$ Mn)|
*Complete segmentation list is on report page