Endotracheal Tube Market to Find Better Growth with US$ 1,212.8 Million By 2027 | CAGR: 6.4%: Coherent Market Insights
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Global Endotracheal Tube Market, by Product Type (Cuffed, Uncuffed, Armored/Reinforced, and Others), by Route (Orotracheal and Nasotracheal), By End User (Hospitals, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is expected to be valued at US$ 739.4 million in 2019 and is expected to exhibit a CAGR of 6.4% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
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The increasing demand for advanced and efficient endotracheal tubes to assist breathing in patients suffering from respiratory disorders is the factor that is expected to offer lucrative growth opportunities for industry players operating in the global market. This is further expected to drive the market growth over the forecast period. Moreover, key players in the market are engaged on developing intubation systems to improve the endotracheal intubation procedure. For instance, Sanovas, Inc. launched LightSpeed Intubation System (LSI), a new and improved approach in endotracheal intubation, in December 2016. The system is offered by Intubation Science, Inc., a wholly owned subsidiary of Sanovas, Inc. The product is designed to improve accuracy and speed of endotracheal intubation procedure and allows airway management safer and faster.
Moreover, market players are focused on research for development of advanced and efficient product development, which is expected to drive the market growth over the forecast period. For instance, in August 2018, Teleflex initiated a U.S.-based clinical study for CleanSweep closed suction system. The CleanSweep system utilizes both sweeping balloon technology and conventional suction collection to remove secretion build-up inside the endotracheal tubes.
Browse 34 Market Data Tables and 30 Figures spread through 183 Pages and in-depth TOC on “Endotracheal Tube Market”- Global Forecast to 2027, by Product Type (Cuffed, Uncuffed, Armored/Reinforced, and Others), by Route (Orotracheal and Nasotracheal), By End User (Hospitals, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in the global Endotracheal Tube market Press Release, click the link below: https://bit.ly/3c1t7Oa
Furthermore, market players in are focusing on adoption of expansion strategies such as mergers and acquisitions, collaborations, and partnerships, in order to expand their product portfolio and strengthen their position in the global market. For instance, in August 2019, Novo Klinik-Service GmbH acquired Innocath GmbH, a Germany-based medical device manufacturing company. Under this acquisition, Novo Klinik-Service GmbH expanded its airway management product portfolio by adding Innocath’s products in its product portfolio.
Additionally, Bactiguard and Mediplast entered into a partnership, in January 2017 for distribution of Bactiguard infection prevention products in European countries such as Belgium, the Netherlands, and Luxembourg.
Key Takeaways of the Global Endotracheal Tube Market:
- The global endotracheal tube market is expected to exhibit a CAGR of 6.4% over the forecast period, attributed to rising incidence of chronic respiratory diseases and increasing research and development activities by key players. For instance, in November 2019, N8 Medical Inc. initiated the first in-human clinical trial for CeraShield Endotracheal Tube (ETT). The study aims to evaluate the safety of CeraShield ETT in intensive care unit patients who require longer hospital stay i.e., over 48 hours.
- Among product type, cuffed segment accounted for a major market share in 2018, attributed to rising prevalence of chronic respiratory diseases. For instance, according to an article titled ‘The burden of chronic respiratory diseases and their heterogeneity across the states of India: the Global Burden of Disease Study 1990-2016’ by the National Center for Biotechnology Information, in 2016, Chronic obstructive pulmonary disease (COPD) and asthma were responsible for 75.6% and 20.0% of the chronic respiratory diseases respectively in India.
- Among route, orotracheal segment is expected to account for a significant market share in the market over the forecast period. This is attributed to, orotracheal route that is the most commonly used route for tracheal intubation, where an endotracheal tube is passed through the mouth, vocal apparatus, and trachea. Intubation through the orotracheal route is easier, faster, less painful compared to nasal intubation and convenient during laryngoscopic surgeries.
- Key players operating in the global endotracheal tube market include Medtronic Plc, Teleflex Inc., ConvaTec Inc., Smiths Medical, Neurovision Medical Products, Intersurgical Inc., Royax, Novo Klinik-Service GmbH, Avanos Medical, Inc., Bactiguard, and N8 Medical LLC
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