PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1516940
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1516940
Global airway management devices market is projected to witness a CAGR of 5.91% during the forecast period 2024-2031F, growing from USD 1.73 billion in 2023 to USD 2.74 billion in 2031F. The growth of the market is driven by the rising cases of respiratory diseases and disorders, increasing incidences of preterm birth, and growing investments towards product development and enhancement. Due to the rising product requirement, various leading market players and research institutes are also increasingly focusing on research and development activities to evaluate the efficacy of products and support novel product development.
Increasing incidences of preterm birth is a major global airway management device market trend. According to the National Vital Statistics Report, the rate of preterm birth rose 12% from 2014 to 2022. Preterm infants often require respiratory assistance to facilitate the cardiopulmonary transition that occurs over the course of the first few hours after birth. This propels the requirement for airway management devices for neonates as they often end up requiring invasive mechanical ventilation or intubation and unplanned extubation.
The growing prevalence of chronic diseases coupled with the expansion of the aging population is also bolstering the market demand, as airway management devices are crucial for patient survival. Such devices and technologies often also affect the potential of recovery from injury or illness. Thus, the rapid expansion of the healthcare sectors in various regions across the globe is positively influencing the market's growth.
Technological Advancements Boost Market Growth
One of the major factors supporting the global airway management devices market growth is companies' rising investments in the development of novel technologies and products. The development of new products and technologies allows healthcare professionals to provide advanced care to their patients while increasing their comfort, thus improving their quality of life.
The increasing emphasis on product innovation and enhancement also propels the approval of new medical devices by different regulatory and governing bodies. In February 2023, Airway Management, Inc.'s flexTAP received approval from the Pricing, Data, Analysis, and Coding (PDAC). The PDAC code boosts consumers' access and ensures the provision of medical coverage by various medical insurers for flexTAP. The product is designed for treating moderate to mild sleep apnea and is equipped with an adjuster, and aids in improving treatment outcomes and providing comfort to patients.
Increasing Incidences of Neck Trauma and Growing Geriatric Population Support Market Expansion
The rising cases of neck trauma due to sports injuries and motor vehicle accidents is one of the major factors augmenting the global airway management devices market demand. According to the estimates of the National Safety Council, the total number of medically consulted injuries in 2022 were 5.2 million in the United States. Trauma to neck and cervical spine injuries boost the requirement for airway management devices for preventing hypotension, hypoxia, or hypoventilation, as the patient may require emergent airway management.
Additionally, the growth of the market is also supported by the rapid expansion of the geriatric population, as they are more susceptible to chronic respiratory diseases and disorders. The World Health Organization (WHO) estimates that by 2050, the global population over the age of 60 will account for approximately 2.1 billion individuals. As the immune system weakens with age, the vulnerability of the older population rises to different respiratory conditions, increasing their reliance on airway management devices, thus augmenting the product demand. According to the estimates of the Center for Disease Control and Prevention, in 2022, approximately 4.6% of adults were diagnosed with chronic bronchitis, COPD, and emphysema.
North America Accounts for the Largest Market Share
The rising investments in the healthcare sector, the strong presence of major market players, and increasing cases of chronic respiratory diseases are some of the major factors propelling the expansion of the market in North America. The high rate of acceptance of new technologies and rising investments in product enhancement and innovation are other major factors that are positively influencing the market's expansion in the region. Additionally, various companies are also investing in the development and introduction of novel products and technologies. In April 2024, Paragonix Technologies Inc. launched their lung preservation system, the BAROguard Donor Lung Preservation System, in the United States. The product has been designed to maintain optimal conditions while transporting and protecting the donor's lungs. The system was provided with the 510(k) clearance by the US Food and Drug Administration (FDA) and deploys active airway management control in combination with hypothermic preservation techniques.
Supraglottic Devices Expected to Hold Significant Market Share
The expansion of the segment can be attributed to the several advantages associated with the product. Supraglottic devices aid in creating positive pressure in the endotracheal tube, generating an entrainment mechanism and allowing unrestricted exchange of gases. The different advantages associated with these devices also make them suited for the demands of outpatient anesthesia. The supraglottic devices have a wide range of functions including airway rescue after failed intubation, usage as a conduit for assisting tracheal intubations that are difficult, and during cardiopulmonary resuscitation.
Additionally, the segment's growth is also supported by the rising research activities being conducted in supraglottic airway devices. For instance, the University of Pittsburg (United States) is conducting an interventional study to evaluate the airway management strategies adopted by prehospital trauma patients. The Prehospital Airway Control Trial (PACT) is a randomized, multi-center, and open labeled trial that includes supraglottic devices as intervention and is expected to conclude in March 2026.
Future Market Scenario (2024-2031F)
According to the global airway management devices market analysis, the demand for airway management devices is expected to significantly increase in the coming years due to the rising cases of respiratory disorders. The growing prevalence of chronic obstructive pulmonary diseases and asthma, coupled with increasing spending on research and development activities, is expected to provide lucrative growth opportunities for the market. For instance, the Cleaveland Clinic in the United States is conducting an interventional study to evaluate the structural modifications in a supraglottic airway device. The clinical investigators are trialing the A/Z concept with the help of an original A/Z modification on a supraglottic airway device that is currently in use. Instead of making the changes by themselves and cutting into the channel in the conventional supraglottic airway, the investigators approached manufacturers to do so professionally. The proposed A/Z modification in the supraglottic airway body will enable access to the endotracheal tube without the requirement of an exchange catheter. The study is expected to conclude in December 2024. Such activities are anticipated to aid in product enhancement, which in turn is expected to boost the global airway management devices market size.
Key Players Landscape and Outlook
The market's growth is supported by the increasing efforts of the market players towards the development and introduction of new products. In March 2023, Ambu A/S announced the relaunch of the Ambu VivaSight 2 DLT, their second-generation single-use double lumen tube (DLT). The endobronchial tube provides continuous visual monitoring of the upper airways of the patient in case of one-lung ventilation procedures. This relaunch will strengthen Ambu's advanced pulmonology and airway management portfolio and allow them to aid healthcare professionals in providing enhanced care to patients during one-lung ventilation procedures. Such developments showcase the dedication of the market players in ensuring that their customers are provided with high-quality products and technologies and their commitment towards innovating novel solutions, which in turn supports the expansion of the market.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work