The global airway management devices market size was valued at USD 1.81 billion in 2021 and is projected to reach a valuation of USD 1.89 billion in 2022. The market is expected to reach USD 2.55 billion by 2029 with a CAGR of 4.4% during the forecast period. Owing to rising cases of chronic diseases such as chronic obstructive pulmonary disease (COPD), cancer, chronic lung diseases, and others have put emphasis on better treatment of such conditions. Rising number of joint ventures and start-ups is projected to aid market development. Fortune Business Insights™ shares this information in its report titled “Airway Management Devices Market, 2022-2029.”

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Key Industry Development

  • January 2022- Intersurgical Ltd announced the acquisition of Pulmodyne, Inc. to provide Intersurgical and for increased sales of the Pulmodyne ranges through the extensive global Intersurgical Ltd network.

Drivers and Restraints

Rising Number of Joint Ventures and Startups To Propel The Demand For Product

Rising number of joint ventures and startups in the industry are anticipated to drive the airway management devices market growth. Number of market players have been focusing on producing airway devices which are technologically advanced along with development of new R&D centers. Additionally, rising production by key players and approval from regulatory bodies for low-cost devices is expected to boost market growth. In April 2021, Medtronic launched the largest R&D center in India to launch new devices, advancing new technologies in surgical navigation and imaging, airway devices, ventilators, and many others.

However, complications such as regurgitation and aspiration of gastric contents, compression of vascular structures, trauma and nerve injury are expected to limit the market growth.

COVID-19 Impact:

Postponements of Non-Essential Surgeries During Pandemic Led to Decline in the Market Progress

The COVID-19 pandemic led to the decline in market growth for airway management devices in 2020. Various countries across faced challenges in accessing medical care and treatment due to postponements & de-prioritization of non-essential surgeries. In 2021, according to Centers for Disease Control and Prevention (CDC), the U.S. emergency department (ED) visits declined by 42% from for some time in 2020, after the declaration of a national emergency for COVID-19 pandemic. As per the estimates, ED visits from December 2020 to January 2021 were 25% lower than during the same months in 2019.

Segmentation

Infraglottic Devices To Lead With Rise in Chronic Respiratory Disorders

On the basis of type, the market is divided into infraglottic devices, supraglottic devices, laryngoscopes, and others. Infraglottic devices held the largest share in the year 2021 due to rise in the chronic respiratory disorders and adoption of such devices by healthcare providers in intensive care units.

Click here to get the short-term and long-term impact of COVID-19 on this market.

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