The global airway management devices market registered a revenue of nearly $1,230.8 million in 2018, and is anticipated to grow at 8.6% CAGR, surpassing $2,350.7 million by 2026.
The pandemic will impact the market in a positive way during the coming years. The market is predicted to grow due to the rise in chronic diseases and it is predicted to be the major driving factor for the market in the forecast period. Moreover, the unavailability of skilled labor is predicted to be the biggest restraint for the market.
|Realtime BPS||*Estimated market Size, 2020,
|**Real Time market Size, 2020,
|7.4%||8.6%||117||USD 1,415.2 Million||USD 1,450.5 Million|
* The numbers are estimated prior to the COVID-19 Pandemic in 2020
** The data will vary depending on upcoming developments announced by the operating players
KEY ASPECTS OF THE INDUSTRY
BOOMERS AND DECLINERS
The airway management devices market is predicted to grow due to the rise in chronic diseases among adults as well as geriatric population. As per World Health Organization, 90% of deaths are due to chronic obstructive pulmonary diseases (COPD) across the globe. Moreover, increasing demand of these devices and increase in incidents of preterm birth are predicted to be the major driving factors for the market. Growing potential in the emerging countries is predicted to create more opportunity in the forecast period. Increase in the geriatric population is predicted to boost the market in the forecast period.
Increasing in the price of these devices is predicted to hamper the market growth in the forecast period. Moreover, the unavailability of the skilled labor is predicted to be the biggest restraint for the airway management devices market in the forecast period. In addition, harmful effects of certain devices on neonates is predicted to hinder the market growth in the forecast period.
The airway management device market is predicted to have a positive growth rate in the forecast period. It has been noticed that most of the health care institutions use airway management devices to treat the coronavirus patients, as the coronavirus affects the lungs to a huge extent and creates breathing difficulties for patients. At the time of treating these patients, the airway management devices are used vastly to prevent and get relief airway obstruction. Most of the manufacturers have increased the production to meet the demand of the market.
It has been noticed that many organizations are focusing more on making these devices technologically advanced so that they can meet the demand as per requirement in the market during the pandemic. For instance, Israeli Medtech Company developed a device to prevent mechanical ventilation complications which helps to guard respiratory system and reduces the ventilation complication in tubbed patient and minimizes the exposure of clinical terms of containment. This respiratory guarding system has been used to treat ventilated patients suffering from lung diseases.
MANAGING SUCCESS AMIDST
THE PANDEMIC STRESS
The pandemic situation is predicted to have a positive impact on the global airway management devices market. The global market for the airway management devices is predicted to grow due to the rise in the prevalence of the various chronic diseases. The rise in the geriatric population is predicted to boost the market in the forecast period. The increase in the manufacture of the airway management devices increases the production by witnessing the rise of various corona diseases patient across the globe.
Technological advancement in airway management devices is predicted to create more investment opportunities for the investors in the forecast period. For instance, Video laryngoscopes are widely available in the market which are used to treat chronic lung diseases and can be easily used by the operator. In addition, limited ventilation in most of the medical institution across the globe help the manufacturer to produce more airway management devices which is predicted to create more opportunity to market in the forecast period.
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Our group of skilled analysts provide a solution to help the companies to survive and sustain in this global pandemic. We support companies to make informed decisions based on our findings resulting from the comprehensive study by our qualified team of experts. Our study helps to acquire the following:
- Long-term and Short-term impact of Covid-19 on the market
- Cascading impact of Covid-19 on the Airway Management Devices Market , due to the impact on its extended ecosystem
- Understanding the market behaviour pre- and post-Covid-19 pandemic
- Strategic suggestions to overcome the negative impact on your business or turn the positive impact into an opportunity