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(Health-NewsWire.Net, August 11, 2020 ) The airway management devices market is projected to reach USD 2.0 billion by 2024 from USD 1.6 billion in 2019, at a CAGR of 5.1% between 2019 and 2024. The growth of the airway management devices market is driven mainly by the rising prevalence of chronic respiratory diseases; increasing demand for emergency care; high incidence of preterm births; growth in investments, funds, and grants by government bodies for improving emergency care infrastructure. Also, emerging economies (such as China, India, Brazil, and Mexico) are expected to offer lucrative growth opportunities for market players in the airway management devices market.
The Asia Pacific region is expected to witness the highest growth in the airway management devices market during the forecast period. The presence of high-growth markets such as Japan, China, India, South Korea, Taiwan, Australia, and Singapore; rapid growth in the geriatric population; increasing demand for critical care units; supportive reimbursement policies in Japan; and the implementation of favorable government initiatives; are some of the key factors driving the growth of the topical drug delivery market in the Asia Pacific region.
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Medtronic (Ireland), Smiths Medical (US), Teleflex (US), and Ambu (Denmark) are the key players operating in this market. Other prominent players in the market include KARL STORZ (Germany), Flexicare (US), Verathon (US), Olympus (Japan), Intersurgical (UK), SunMed (US), Vyaire Medical (US), VBM Medizintechnik (Germany), SourceMark (US), TRACOE medical (Germany), Salter Labs (US), Venner Medical International (US), Mercury Medical (US), Pulmodyne (US), Tuoren Medical (China), Armstrong Medical (Northern Ireland), Shenzhen HugeMed Medical Technical Development (China), UE Medical Devices (US), BOMImed (Canada), P3 Medical Limited (UK), Marshall Airway Products Ltd (UK), Dilon Technologies (US), FKS Life and Health Medical Care (US), and Medis Medical (China), among others.
Medtronic dominated the global airway management devices market in 2018. The company offers a wide range of medical devices, therapies, and services for the treatment of heart diseases, spinal conditions, neurological disorders, vascular diseases, orthopedic disorders, and diabetes. Medtronic operates in approximately 160 countries in over 260 locations across the globe and has a geographical presence in the US, Puerto Rico, Brazil, Canada, Costa Rica, Denmark, the Dominican Republic, France, Germany, India, Israel, Italy, Japan, Malaysia, Mexico, the Netherlands, the People’s Republic of China, Singapore, South Korea, Switzerland, Thailand, Turkey, Vietnam, and the UK. The company maintains a direct sales force to reach out to its customers. Medtronic has also succeeded in creating a strong foothold in the airway management devices market owing to its diversified product portfolio, extensive geographical reach, and a strong focus on inorganic growth strategies.
Smiths Medical held the second-largest share of the global airway management devices market. The company provides endotracheal tubes, endobronchial tubes, intubation accessories, laryngoscopes, and specialty airway products. In 2018, the company’s vital care segment (offering airway management devices) generated a revenue of USD 334.4 million. Smiths Medical manufactures and distributes its products in North America, Europe, and Asia. The firm operates in over 120 countries with operations in over 30 locations.
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Teleflex was a prominent and well-established player in the airway management devices market in 2018. The company offers a broad range of airway management products and has a strong geographical presence in the US, Europe, Asia, Ireland, and the Czech Republic. The company focuses on innovation to maintain its market position and strives to develop and launch new products in the market. For instance, it launched its LMA Unique (Silicone Cuff), in 2017.
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