Endotracheal Tube Market a CAGR of 6.8% from 2023 to 2033
The Endotracheal Tube market revenues were estimated at US$ 2.2 Billion in 2021 and is anticipated to grow at a CAGR of 6.8% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach US$ 4.5 Billion.
Due to an increase in surgical procedures, endotracheal tubes are in high demand. Approximately 313 million elective procedures are performed each year, according to a report named Global Surgery and Anaesthesia Statistics. Endotracheal intubation has seen medical device developments that have decreased the risk of getting an infection and lessened the risk of infection associated with endotracheal tubes.
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Patients on a ventilator or proning for an endotracheal tube for more than 48 hours are at a higher risk of developing Ventilator-Associated Pneumonia (VAP). Owing to this, several companies are designing products with antithrombotic and antibacterial qualities that can help avoid VA. Medtronic Shiley Evac endotracheal tubes, as an example, are said to minimize VA by 50%.
Due to rising healthcare spending, rising disposable revenue leading to higher affordability, and increasing patient preference for endotracheal-covered tubes, Asia Pacific is expected to witness significant growth during the projection period. Higher market growth would be aided by India’s growing population, improved patient awareness of ventilator-related pneumonia, and increased cancer, lung illnesses, and cardiovascular disease incidence.
The key players in the market include Teleflex Corporation, Medtronic, Medline Industries, Venner Medical, Sonoma Pharmaceutical, Hospiteknik Healthcare, Armstrong Medical, Airway Innovations, and Smith’s Group.
Few of the recent developments of key Endotracheal Tube providers are as follows:
- In April 2020, Hydromer teamed up with N8 Medical to become the official coating and manufacturing partner for the CeraShield Endotracheal Tube, which is used to treat mechanically ventilated COVID-19 patients across Canada.
- In August 2020,Bactiguard’s endotracheal tubes for the prevention of COVID-19 infection received approval from Health Canada under an Interim Order. In critically ill patients, the innovative gadget aids in the reduction of secondary infection risks.
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Endotracheal Tube market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights by Product Type (Regular Endotracheal Tube, Reinforced Endotracheal Tube, Preformed Endotracheal Tube, Double lumen Endotracheal Tube), by Route Type (Orotracheal, Nasotracheal), by Application ( Emergency Treatment, Therapy, Other Applications), by End-use (Hospitals, Clinics, Ambulatory Surgical Centres, Other End-uses) across five regions (North America, Latin America, Europe, APAC and Middle East & Africa).
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Market Segments Covered in Endotracheal Tube Market Analysis
By Product Type:
- Regular Endotracheal Tube
- Reinforced Endotracheal Tube
- Preformed Endotracheal Tube
- Double lumen Endotracheal Tube
By Route Type:
- Emergency Treatment
- Other Applications
- Ambulatory Surgical Centres
- Other End-uses
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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