March 02, 2022 05:38 ET | Source: Research and Markets Research and Markets

Dublin, March 02, 2022 (GLOBE NEWSWIRE) -- The "Airway Management Devices - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Airway Management Devices Market to Reach US$2.2 Billion by the Year 2026

Amid the COVID-19 crisis, the global market for Airway Management Devices estimated at US$1.5 Billion in the year 2020, is projected to reach a revised size of US$2.2 Billion by 2026, growing at a CAGR of 6.2% over the analysis period.

Major factors fueling growth in the airway management devices market include aging global population, rising incidence of chronic respiratory diseases, rise in the number of patients who can afford advanced medication, and increase in the number of surgical procedures.

The global market for these devices is bolstered by increasing incidence of chronic respiratory conditions and broader acceptance among anesthesiologists. Rising cases of preterm birth and the need to manage the airway in newborns is another growth factor creating strong demand for airway management devices. The market expansion is also favored by rising funding and investments to improve emergency care services and associated infrastructure. Resuscitators, one of the segments analyzed in the report, is projected to grow at a 6.1% CAGR to reach US$728.9 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Infraglottic Devices segment is readjusted to a revised 5.6% CAGR for the next 7-year period.

This segment currently accounts for a 28% share of the global Airway Management Devices market. Resuscitator is a device designed to keep unresponsive patients oxygenated and alive by inflating the lungs using positive pressure. The critical role of resuscitators played in cardiopulmonary resuscitation and technological advancements such as advanced features like Flow-Restricted and Oxygen-Powered Ventilation Device (FROPVD) are expected to spur boost growth in the Resuscitators segment.

Infraglottic devices set up a conduit through the mouth for administering drugs, passing through the glottis to be placed into the trachea. The market for Infraglottic Devices is poised to benefit significantly from the growing healthcare spending.

Supraglottic Devices Segment to Reach $523.7 Million by 2026

The use of advanced devices such as supraglottic airway in preoperative airway evaluation is expected to increase the demand for airway management devices. With supraglottic devices tracheal placement is much easier, which results in improved patient safety.

In the global Supraglottic Devices segment, USA, Canada, Japan, China and Europe will drive the 6.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$299.2 Million in the year 2020 will reach a projected size of US$461 Million by the close of the analysis period.

China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$36.2 Million by the year 2026, while Latin America will expand at a 6.8% CAGR through the analysis period.

The U.S. Market is Estimated at $527.4 Million in 2021, While China is Forecast to Reach $243.6 Million by 2026

The Airway Management Devices market in the U.S. is estimated at US$527.4 Million in the year 2021. The country currently accounts for a 31.7% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$243.6 Million in the year 2026 trailing a CAGR of 8% through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.1% and 5.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.4% CAGR while Rest of European market (as defined in the study) will reach US$257.5 Million by the end of the analysis period. North America is the largest market owing to high prevalence of COPD and asthma and also a large geriatric population base.

Other growth factors include high incidence of major respiratory diseases, supportive government measures, and strict implementation of clinical guidelines for airways management and proper ventilation. Rising cases of COPD, increasing healthcare expenditure, improving healthcare infrastructure and enhancing healthcare policies, is leading to increased demand for the devices in the Asia-Pacific region. Key Topics Covered: I. METHODOLOGY

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