Major players in the airway management devices market are Medtronic, Smiths Medical (A Division of Smiths Group PLC), Teleflex, AMBU, Karl Storz, Flexicare, Intersurgical, Carefusion, Mercury Medical, and Well Lead Medical Co Ltd.
New York, July 30, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Airway Management Devices Global Market Report 2020-30: Covid 19 Implications and Growth" - https://www.reportlinker.com/p05948404/?utm_source=GNW
The global airway management devices market is expected to grow from $1.40 billion in 2019 to $2.15 billion in 2020 at a compound annual growth rate (CAGR) of 53.35%. The growth is mainly due to the COVID-19 outbreak that required airway management devices to support Covid-19 patients with ease in breathing. The market is expected to stabilize and reach $2.65 billion in 2023 at a CAGR of 7.33%.
The market for the airway management devices consists of sales of airway management devices and related services. Airway management devices are used to prevent and relieve airway obstruction to ensure proper exchange of air between the patient’s lungs and atmosphere.
North America was the largest region in the airway management devices market in 2019.
In June 2018, Novo Klinik-Service GmbH, a company engaged in developing, producing and marketing innovative medical technology solutions and medical aids for intensive care, anesthesia and care sectors, announced the acquisition of Innocath for an undisclosed amount. With the acquisition, Novo Klinik-Service GmbH added ventilated patient care products of Innocath to its airway management product line. Innocath is based in Germany and its products include, tracheostomy tether, respiratory tube systems, laryngeal masks and accessories, and a range of airway management products for hospitals.
The airway management devices market covered in this report is segmented by type into infraglottic airway management devices; supraglottic airway management devices; resuscitators; laryngoscopes; other devices. It is also segmented by end-use into hospital; homecare, and by application into anesthesia; emergency medicine; others.
The complications and failures associated with airway management devices limit the growth of airway management devices. According to BioMed Research International Journal, the concerns or complications related to the supraglottic and other airway management devices include compression of vascular structures, regurgitation, aspiration of gastric contents, trauma, and nerve injury. Therefore, higher incidences of complications associated with the airway management devices question the use of devices in the first place and likely harm the market growth.
The launch of innovative airway management devices is shaping the airway management devices market. For instance, in January 2019, Verathon, a medical device manufacturer specialized in airway management devices, announced the launch of GlideScope Core, the most flexible and comprehensive airway visualization system available for bronchoscopy, video laryngoscopy, and multimodal airway procedures. GlideScope Core was the first airway visualization system with live and simultaneous picture-in-picture imaging which offers healthcare professionals the power to see and do more. Similarly, in June 2020, Docsinnovent Ltd launched an advanced version of V-gel, which is a supraglottic airway device for cats and rabbits.
The increasing prevalence of respiratory diseases is expected to propel the demand for airway management devices market over the forecast period. Airway management devices are used for difficult emergency airway management during medical procedures. According to the publication of United for Lung Health in 2019, a forum of international respiratory societies, chronic obstructive pulmonary disease (COPD) is the third leading cause of death with an average of 384 million people suffering from COPD each year. Lung cancer was the deadliest cancer with 1.76 million deaths annually across the world. Moreover, 10 million people develop tuberculosis and 334 million people suffer from asthma every year. This scenario drives the growth of the airway management devices market.
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