July 19, 2024
Endotracheal Tube Market

Non-Invasive Ventilation Masks Market Driven by Increasing Incidences of Chronic Obstructive Pulmonary Disease

Non-invasive ventilation masks provide an effective way of delivering oxygen and other gases to patients suffering from respiratory diseases without resorting to an invasive endotracheal tube. These masks are portable, lightweight, and facilitate breathing support through nasal or full-face interfaces. They find widespread applications in treating conditions like chronic obstructive pulmonary disease (COPD), acute respiratory failure, and chest wall deformities.

The global Non-invasive ventilation masks market is estimated to be valued at US$ 920 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 key trends:

One of the key trends in the non-invasive ventilation masks market is the growing preference for full-face masks over nasal masks. Full-face masks provide a higher level of comfort and are less prone to leakages, thereby ensuring better ventilation. Various players are focusing on developing innovative full-face masks integrated with advanced features. For instance, resMed launched AirFit F30 full-face mask with a lightweight frame and AirPillow seal for increased comfort.

Another major trend is the increasing demand for customized and adjustable masks. Players are offering masks in various sizes to suit different face contours. Additionally, masks with adjustable headgear and elbow joints allow for a personalized fit. This enhances patient compliance with Non-invasive ventilation (NIV) therapy.

Porter’s Analysis

Threat of new entrants: The endotracheal tube market requires substantial capital investments, strict regulatory protocols and established distribution channels. These barriers make the threat of new entrants moderate.

Bargaining power of buyers: The bargaining power of buyers is moderate as endotracheal tubes are medical devices with no substitutes and buyers have some influence over price.

Bargaining power of suppliers: A few major players dominate the supply of raw materials limiting the bargaining power of suppliers.

Threat of new substitutes: There are no viable substitutes for endotracheal tubes, making the threat of new substitutes low.

Competitive rivalry: The endotracheal tube market is highly competitive due to the presence of a few major players.

Key Takeaways

The Global Endotracheal Tube Market Growth is expected to witness high growth over the forecast period of 2023 to 2030. The global Non-invasive ventilation masks market is estimated to be valued at US$ 920 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030.

Regional analysis: North America currently holds the largest share of the endotracheal tube market owing to the high healthcare expenditure and developing healthcare infrastructure in the region. Asia Pacific is expected to witness fastest growth due to the growing population and increasing number of surgical procedures in developing countries like India and China.

Key players: Key players operating in the endotracheal tube market are Carrier, Haier Group, Emerson Electric Co., LG Electronics., Lennox International, Rheem Manufacturing Company, Trane Technologies plc, Vishay Intertechnology, Inc., Acuity Brands Lighting, Inc., Ideal Industries, Inc., Lumigrow, Hubbell, Constellation Newenergy, Inc., Energy

Systems Group, Cmta, Inc., The Brewer-Garrett Company, Digi-Key Electronics, Renesas Electronics Corporation., and Ameresco. The major players are focusing on new product launches and increasing their geographic presence to gain competitive advantage in the endotracheal tube market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it