The Business Research Company’s Global Airway Management Devices Market Research Report 2020-30: Covid 19 Implications And Growth
LONDON, GREATER LONDON, UK, August 12, 2020 /EINPresswire.com/ — The global airway management devices market size 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 the use of airway management devices to support COVID-19 patients with ease in breathing. The global airway management devices market size is expected to stabilize and reach $2.65 billion in 2023 at a CAGR of 7.33%.
Airway management devices market research suggests that the increasing prevalence of respiratory diseases is expected to propel the demand for airway management devices over the forecast period.
Airway management devices are used for difficult emergency airway management during medical procedures. According to a 2019 publication by United for Lung Health – 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 global airway management devices market.
The complications and failures associated with airway management devices limit the growth of the airway management devices market. According to BioMed Research International Journal, the concerns or complications related to 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 airway management devices question the use of these devices in the first place and will 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 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.
The airway management devices market is segmented by type into infraglottic airway management devices, supraglottic airway management devices, resuscitators, laryngoscopes, and other devices. By end use, the market is segmented into hospital and homecare. By application, it is segmented into anesthesia, emergency medicine, and others.
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Source: EIN Presswire