Increasing Incidences of Chronic Respiratory Diseases of Airway Management Devices Market
The global airway management devices market is estimated to be valued at US$ 1949.53 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Airway Management Devices have the potential to increase patient safety and improve health outcomes when used appropriately. These devices are designed to assist medical professionals in securing and maintaining patent airways during medical procedures or resuscitations. They allow for faster interventions and higher success rates of first-time intubations compared to traditional methods without devices.
Weakness: Airway Management Devices require appropriate training to be used safely and effectively. They can pose risks if used by untrained or unskilled medical professionals. Additionally, some devices are single-use only which increases recurrent costs for hospitals and healthcare facilities.
Opportunity: As the global population ages, more people will require advanced medical interventions and critical care. This growing demand for emergency and acute care treatment represents an opportunity to increase sales and usage of airway management devices. There is also potential to develop next-generation devices with enhanced features and capabilities.
Threats: Stringent regulatory requirements and lengthy approval times pose challenges for new entrants in this market. Established key players exert pricing pressure through economies of scale. Alternative airway management techniques not relying on devices also threaten market share. Medical errors or complications linked to device use could damage brand reputation.
Key Takeaways
The Global Airway Management Devices Market Demand is expected to witness high growth over the forecast period owing to an aging population and rising incidence of chronic illnesses. The global airway management devices market is estimated to be valued at US$ 1949.53 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030.
North America currently dominates the market due to presence of major players, advanced healthcare infrastructure, and high acceptance of new medical technologies in the region. The European market is also sizable and growing steadily with increased government focus on emergency care services. This is attributed to growing elderly population susceptible to respiratory conditions, rising hospital admittance and ICU visits, along with presence of major players in the US. Europe is the second largest market led by Germany, France, and the UK. Large healthcare expenditures and increasing utilization of devices in trauma and emergency care support growth. Asia Pacific is expected to witness fastest gains due to improving access to healthcare across middle income nations like China and India.
Key players: Key players operating in the airway management devices market are Teleflex Incorporated, Smiths Group plc., Medtronic, Ambu A/S, Intersurgical Ltd., Armstrong Medical Inc., Medline Industries Inc., Roper Technologies, Teleflex Incorporated, and Vyaire Medical Inc. Major players are focusing on developing technologically advanced products with enhanced features to strengthen their market position.
Explore more information on this topic, Please visit –
https://www.insightprobing.com/airway-management-devices-market-size-and-forecasts-analysis/
English
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian