Global Endotracheal Tube Market Is Estimated To Witness High Growth Owing To Increasing Incidence of Respiratory Diseases
The endotracheal tube market involves products that are used for intubation in medical procedures such as general anesthesia, surgery, and mechanical ventilation. Endotracheal tubes are inserted through the mouth or nose and then placed in the trachea to maintain an open airway and facilitate the delivery of anesthetic gases and oxygen or to protect the lungs during surgery. These tubes come in different sizes ranging from neonatal to adult tubes depending on the patient's age. They are made from materials such as polyvinyl chloride (PVC), thermoplastic polyurethane (TPU), and silicone.
The global Endotracheal Tube Market is estimated to be valued at US$ 920.0 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The global endotracheal tube market is mainly driven by the increasing incidence of respiratory diseases across the globe. As per the World Health Organization, around 4 million people die each year due to chronic obstructive pulmonary disease (COPD). Moreover, factors such as increasing prevalence of acute respiratory illnesses, rising number of surgical procedures, product innovations, and expansion of healthcare infrastructure are expected to propel the market growth over the forecast period. However, complications associated with endotracheal intubation and availability of alternative airway management devices are some of the factors that may hinder the market growth.
SWOT Analysis
Strength: The endotracheal tube market has strong growth potential due to the rising incidences of respiratory diseases. It provides a secure airway for ventilation and oxygen therapy. New product launches catering to specific patient needs is a key strength.
Weakness: Improper intubation techniques can cause severe complications. The reuse of single-use endotracheal tubes increases the risk of infections.
Opportunity: Rising healthcare expenditure in emerging nations provides an opportunity for market expansion. Technological advancements are helping to develop user-friendly tubes.
Threats: Strict regulatory frameworks for new product approvals can delay market entry. Lowcost generic products pose pricing pressure on prominent brands.
Key Takeaways:
The global Endotracheal Tube Market Demand is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing prevalence of respiratory diseases and rising number of ICU admission. As per estimations, the market was valued at US$ 920.0 Mn in 2023 and is projected to reach over US$ 1,500 Mn by 2030.
Regional analysis: North America dominated the global market accounting for over 35% revenue share in 2023 due to increasing incidence of chronic respiratory diseases. Asia Pacific exhibits the fastest growth rate owing to rising healthcare expenditure, large patient population and growing medical tourism.
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. Key players are focusing on new product launches, mergers, acquisitions and geographical expansion to strengthen their market position.
For More Insights, Read- https://blogger-veritas.blogspot.com/2023/12/reinforced-plastics-are-fueling-growth.html
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