Endotracheal Tubes Market Growth & Trends
The global endotracheal tubes market size is expected to reach USD 2.9 billion by 2027, expanding at a CAGR of 6.0%, according to a new report by Grand View Research, Inc. The rising prevalence of chronic diseases such as respiratory, cardiovascular diseases, and increasing number of surgical procedures, are expected to propel market growth. In addition,technological development in the medical device is further expected to contribute to market growth during forecast period. Recently Medtronic has launched a Shiley laser oral endotracheal tubes that are most widely used for ventilation during CO2 and KTP laser surgeries of the laryngeal or tracheal area.
Moreover,growing need for ventilator associated with pneumonia and increasing geriatric population that are prone to chronic diseases is one of the important factors responsible for market growth during assessment period. As per World Health Organization Report 2019, 4.0 million people die prematurely due to chronic respiratory disease. Due to increasing air pollution the prevalence of respiratory diseases is also increasing. According to World Health Organization Report 2019, around 2.0 billion people are exposed to indoor toxic, 1.0 billion people are exposed to outdoor pollutant air, and around 1.0 billion people are exposed to tobacco smoke. Above factors are likely to boost market growth. In addition, increasing awareness about technologically advanced medical devices, and developments in the field of nanobiotechnology and drug design are some of the factors responsible for market growth.
North America accounted for the highest market share in 2019 owing to the advanced healthcare system and the growing prevalence of chronic diseases in the country. In addition, the presence of major players in the region contributed to market growth.
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Endotracheal Tubes Market Report Highlights
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By product type, the regular endotracheal tube segment held the largest market share of 32% in 2019 owing to increasing prevalence of respiratory diseases
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Orotracheal segment held the largest market share accounted for 64% in 2019 owing to its high applicability, increased usage and comfortability
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North America dominated the market in 2019. Rising prevalence of chronic respiratory disease is one of the major factors driving the market growth in this region
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Asia Pacific is expected to witness the fastest growth over the forecast period. As the healthcare infrastructure in the region is developing resulting in increased number of surgeries being performed and eventually fueling the growth of the market.
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List of Key Players of Endotracheal Tubes Market:
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Teleflex Corporation
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Medtronic
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Medline Industries
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Venner Medical
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Sonoma Pharmaceutical
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Hospiteknik Healthcare
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Armstrong Medical
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Airway Innovations
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Smiths Group
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ConvaTe
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