According to the new research report by Transparency Market Research, the global airway management devices market was initially valued at US$832 mn back in 2017. The research report expects the global market to exhibit a CAGR of 4.8% for the projection period of 2018 to 2026. With this rate of growth, the valuation of the airway management devices market is projected to elevate to US$1,266 mn by the end of 2026.
A number of macro as well as microeconomic factors are influencing the growth of the global airway management devices market. One of the key growth factor for the development of the market has been a stark growth in prevalence of chronic breathing and respiratory diseases. In addition to this, substantial growth in the geriatric population across the globe is also helping the development of the global airway management devices market. Another important factor for market growth has been the recent rise in expenditure for the development of the healthcare infrastructure. This has led to healthcare service providers to purchase advanced and high-tech devices including airway management devices. Thus, the market has seen a positive growth because of this reason.
Supraglottic Device Segment to Emerge as Most Popular Product Type
In terms of type of devices, the global airway management devices market has been segmented into Supraglottic Device, Infraglottic Device, Resuscitators, and Laryngoscope. Of these, the segment of supraglottic devices is projected to witness a steady growth in the coming few years. One of the key reasons behind the growth of the segment is the start rise in the number of patients suffering from chronic obstructive pulmonary disorder. Moreover, increasing cases of respiratory dysfunction and fast developing medical technologies are also expected to help in developing the market segment and ultimately the growth of the market itself.
Based on the end-user segmentation, the global airway management devices market is expected to be dominated by the segment of operating rooms (OR). The segment is expected to account for around 45.5% of the overall market share by the end of 2026. The growth of the segment is driven by the increasing availability of high-end devices and facilities in the operating rooms. Moreover, increasing number of anesthesia induction procedures carried out in these ORs is also helping to develop the segment further. This is ultimately expected to help the overall development of the global airway management devices market.
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Asia Pacific to Witness 5% CAGR in Coming Years of Forecast
In terms of geographical segmentation, the global airway management devices market is divided into five major regions viz. North America, Europe, Middle East and Africa, Asia Pacific, and Latin America. The research report expects the global market to be dominated by the regional segment of Asia Pacific for the given period of forecast. The regional segment is expected to exhibit a CAGR of 5% for the period of 2018 to 2026. The growth of the market is driven by factors such as increasing patient pool, adoption of high-end technologies, and growing expenditure on the development of healthcare infrastructure.
Market Segmentation is as follows:
By Product Type
- Supraglottic Device
- Infraglottic Device
By Patient Age
By End User
- Operating Room (OR)
- Intensive Care Unit (ICU)
- North America
- Latin America
- Middle East and Africa
- Asia Pacific