by Airway management devices provide safe passage of air to and from the lungs during medical procedures requiring anesthesia. These devices include laryngeal mask airways, tracheal tubes, oral/nasal airways, and intensified positive pressure breathing systems. With the increasing number of anesthesia procedures performed annually across different healthcare settings like hospitals, ambulatory surgery centers, and clinics, the demand for airway management devices is surging. These devices facilitate smooth ventilation of patients during surgeries or treatment of accidents/injuries and are considered indispensable for complex procedures involving intensive care.
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 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising incidence of chronic respiratory diseases and focus on patient safety during anesthesia administration are fueling market growth. According to the World Health Organization (WHO), chronic obstructive pulmonary disease (COPD) affected over 251 million people globally in 2016 and was the third leading cause of death. Airway management devices play a vital role in administering anesthesia safely to COPD patients undergoing surgical procedures. Moreover, growing awareness about the importance of securing the airway during medical emergencies is increasing demand for emergency airway management equipment like laryngoscopes and endotracheal tubes. Introduction of innovative devices with improvedfeatures catering to complex surgical procedures is also boosting market revenues. For instance, laryngeal tube devices have advanced features that enable blind intubation and ventilation under adverse situations with minimal skills.
Porter’s Analysis
Threat of new entrants: The airway management devices market requires high R&D investment and regulatory approvals which make it difficult for new players to enter.
Bargening power of buyers: The bargaining power of buyers is moderate as airway management devices are medical necessities but buyers have options to consider based on product quality and pricing.
Bargaining power of suppliers: A few major players dominate the supply market for key components used in airway management devices giving them moderate bargaining power.
Threat of new substitutes: No close substitutes exist for airway management devices currently. Alternate treatment options have limitations.
Competitive rivalry: The market comprises few large players and rivalry is high based on pricing strategies, new product innovation and marketing.
Key Takeaways
The Global Airway Management Devices Market Size is expected to witness high growth.
Regional Analysis: North America region holds the largest share currently due to increasing prevalence of respiratory diseases and technological advancements. Europe continues to be the second largest market led by rising demand in countries such as Germany, U.K., and France. Asia Pacific is expected to witness the fastest CAGR over the forecast period with improving access to healthcare and rising medical tourism in countries such as China, India.
Key players operating in the airway management devices market are Nanya PCB (Taiwan), Tripod Technology Corporation (Taiwan), Unimicron Technology Corporation (Taiwan), Ibiden Co., Ltd. (Japan), Compeq Manufacturing Co., Ltd. (Taiwan), TTM Technologies, Inc. (United States), Kingboard Holdings Limited (Hong Kong), Shennan Circuits Company Limited (China), AT&S Austria Technologie & Systemtechnik AG (Austria), Multek (a subsidiary of Flex Ltd.) (United States). The market is driven by these major players which are focusing on new product launches and geographical expansions to strengthen their market presence.
