Airway Management Devices Market is anticipated to grow at a CAGR of 4.9% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Airway Management Devices Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global airway management devices market accounted for over US$ 1.7 billion in 2019. It is anticipated to grow at a CAGR of 4.9% from 2020 to 2030.
The growth of the airway management devices market can be attributed to several factors such as the key players operating in the market, providing a comprehensive set of airway management devices to facilitate patients and healthcare professionals better. Additionally, increasing awareness among governments to improve the emergency care infrastructure, coupled with the increasing utilization of advanced technology in emergency care, is anticipated to further promote growth of the airway management devices market during the forecast period.
The adoption of airway management devices is increasing across key regions majorly due to the growing geriatric population globally and the rising number of patients suffering from respiratory diseases. According to the Office of Disease Prevention and Health Promotion, more than 25 million in the U.S. are suffering from asthma and 14.8 million adults have been diagnosed with COPD. Also, according to the WHO, smoking is a primary cause for COPD and more than 1 billion people inhale outdoor polluted air exposed to tobacco. These factors are leading to an upsurge in the airway management devices market.
The pace of population aging is escalating considerably at the global level. According to the UN, in 2017, the global population in the age group, 60 years & above accounted for around 960 million. People of this age group have a high probability of developing respiratory disorders. They might experience difficulty in breathing and require support or assistance in breathing freely. This aging population coupled with the increased utilization in anesthesia owing to increased surgeries, is expected to propel the demand for advanced devices, positively impacting market growth.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Airway Management Devices Market By Product Type (Infraglottic Airway Management Devices, Supraglottic Airway Management Devices, Laryngoscopes, and Resuscitators), By Age Group (Adult and Pediatric), and By End User (Hospitals and Ambulatory Surgery Centers) – Global Analysis & Forecast 2020-2030 in detail along with the table of contents:https://www.marketindustryreports.com/airway-management-devices-market/351
However, the harmful effects of certain devices on neonates and geriatric populations are the major factors hampering market growth. Additionally, the limited availability of these products in emerging economies will hamper market growth.
The Asia Pacific airway management devices market is estimated to grow at the highest CAGR during the forecast period. Increasing population, continuously growing economies, rising disposable incomes and increasing awareness regarding airway management devices will propel growth of the airway management devices market in this region. Countries in the APAC region, such as India, China, and Japan, are anticipated to provide significant growth opportunities for the global airway management devices market due to a large number of aging populations susceptible to various respiratory diseases.
Some of the prominent players in the airway management devices market include Medtronic, Teleflex Incorporated, Smiths Group plc., Ambu A/S, KARL STORZ, Flexicare Medical Limited, Verathon, Inc., Intersurgical Ltd, Vyaire Medical, Inc., and VBM Medizintechnik GmbH, among others.
Market Industry Reports is a global leader in market measurement and advisory services. It is a 100% subsidiary of ExlTech. The firm has always been at the forefront of innovations to address worldwide industry trends and opportunities. We offer our clients a unique depth of market intelligence in an actionable format to move their business forward. Our analysis incorporates consumer study in more than 100 countries, providing a tactical approach to drive sustained business growth. We continue to pioneer state-of-the-art approach in research & analysis that will help you to overcome complexities and stay ahead of the curve. By nurturing the perception of genius and optimized market intelligence, we unfold contingencies for our clients in the evolving world of technology, mega-trends, and industry convergence. We inspire our clients to empower and shape their businesses and to build world-class products.