by Airway management devices are used to maintain airway patency and protect the lungs from aspiration during anesthesia and surgery. These devices are used to facilitate artificial ventilation through intubation. Commonly used airway management devices include laryngeal mask airways, tracheostomy tubes, oral and nasal airways, endoscopes, supraglottic airways, and laryngoscopes. Laryngeal mask airways are used in various surgical procedures as an alternative to endotracheal tubes. Supraglottic airways are less invasive than endotracheal tubes and are mostly used in emergency settings and during general anesthesia. The increasing prevalence of chronic respiratory diseases such as asthma and COPD has been a major factor driving the demand for airway management devices. Chronic respiratory diseases can lead to airway obstruction and difficulty in breathing, making respiratory devices necessary. Additionally, the rising geriatric population prone to respiratory issues has also contributed to market growth.
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.
Market Key Trends:
One of the major trends in the airway management devices market has been the growing preference for single-use laryngeal mask airways. Single-use laryngeal masks are gaining popularity over reusable laryngeal masks due to reduced risks of cross-contamination. They eliminate the need for reprocessing and sterilization between patients. With the COVID-19 pandemic highlighting the importance of infection control, demand for single-use airway management devices has risen substantially. Technological advancements are also bringing more advanced features to airway management devices. For instance, newer generation laryngeal mask airways come equipped with features like gastric access channels and gastric drain tubes for decompression. Introducing such multifunctional capabilities in airway devices is a key market trend.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the airway management devices market is low due to high capital requirements and presence of major established players.
Bargaining power of buyers: The bargaining power of buyers in the airway management devices market is high due to availability of alternative products.
Bargaining power of suppliers: The bargaining power of suppliers in the airway management devices market is low due to presence of many suppliers.
Threat of new substitutes: The threat of new substitutes in the airway management devices market is moderate due to presence of alternative respiratory care devices.
Competitive rivalry: The competitive rivalry in the airway management devices market is high due to presence of major players.
Key Takeaways
The Global Airway Management Devices Market Demand is expected to witness high growth. 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 is expected to hold the largest share in the airway management devices market over the forecast period owing to growing geriatric population and high adoption of technologically advanced airway management devices in the region. This is attributed to growing geriatric population and increasing incidence of chronic respiratory diseases in the region. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2020, the estimated number of adults aged 65 years or older in the United States was over 54 million.
Key players
Key players operating in the airway management devices market are Cargill, Archer Daniels Midland Company (ADM), Bunge Limited, Ingredion Incorporated, Associated British Foods (ABF), Tate & Lyle, Agrana Beteiligungs AG, The Scoular Company, Grain Processing Corporation (GPC), Didion Milling.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
