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Seattle, Sept. 19, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global tracheal tube and airway products market is estimated to be valued at US$ 4,140.5 million in 2022 and is expected to exhibit a CAGR of 6.6% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Tracheal Tube and Airway Products Market:
Major players operating in market are focusing on product launches. For instance, in May 2021, Medtronic plc., a medical device company, launched the SonarMed airway monitoring system. The SonarMed airway monitoring system utilizes acoustic technology to check for endotracheal tube (ETT) obstruction and verify position in real-time, giving clinicians vital information required to make more informed, life-saving decisions for their smallest patients. SonarMed Airway Monitoring System continuously checks for endotracheal tube obstruction and position for neonates and infants providing immediate, actionable intelligence for clinicians.
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Global tracheal tube and airway products market is expected to exhibit a CAGR of 6.6% during the forecast period due to major players operating in market focusing on adopting strategies like acquisition to expand the market of patient care management, which is expected to drive the market growth over the forecast period. For instance, in January 2021, Koninklijke Philips N.V., a multinational conglomerate company, announced that it had signed an agreement to acquire Capsule Technologies, Inc., a medical device integration and data technologies for hospitals and healthcare organizations. Capsule offers a vendor-neutral Medical Device Information Platform with a software-as-a service business model.
Among product type, the products segment is expected to dominate the segment growth over the forecast period, owing to the increasing approval of tracheal tube and airways products by the regulatory bodies. For instance, in August 2021, Boston Scientific Corporation, a biomedical company, announced the U.S. Food and Drug Administration (FDA) 510(k) clearance of the EXALT Model B Single-Use Bronchoscope, designed for use in bedside procedures within the intensive care unit (ICU) and operating room (OR). The EXALT Model B Bronchoscope can be used for a wide range of bronchoscopy procedures such as secretion management, airway intubation, percutaneous tracheostomy, double lumen endotracheal tube placement, and biopsies.
Key players operating in the global tracheal tube and airway products market include Teleflex Inc., Smiths Medical, Medtronic Plc., Medis Medical (UK) Ltd, VBM Medizintechnik GmbH, The Airway Company (Shikani Medical, LLC), Halyard Health, Boston Medical Products Inc., BomiMed, and Mercury Medical
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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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