Airway Management Devices Market Size, Share, Growth Analysis, By Device(Infraglottic devices, supraglottic devices, laryngoscopes, resuscitators), By End user(Hospitals, ambulatory care, home care, and others), By Patient age(Adult patients and pediatric patients), By Region - Industry Forecast 2024-2031

Airway Management Devices Market size was valued at USD 2 billion in 2022 and is poised to grow from USD 2.32 billion in 2023 to USD 3.62 billion by 2030, at a CAGR of 7.7% during the forecast period (2023-2030).

The rising demand for airway management devices is mostly driven by the rising prevalence of respiratory illnesses and chronic obstructive pulmonary disease (COPD).

According to the World Health Organisation, mild to severe COPD affects 65 million people worldwide, making it the third greatest cause of death worldwide. Additionally, according to information from the Centres for Disease Control and Prevention (CDC), over nine million people in 2018 received a diagnosis of chronic bronchitis.

The rise in the number of operations and the use of anesthesia, both of which require sophisticated technologies, is also blamed for the rise in demand for airway management systems. The necessity for emergency care for chronic illnesses and long-term lung-related therapies for both children and adults are anticipated to further fuel market growth.

The aging population, which is more prone to respiratory diseases, is another factor in the rise in demand for airway control equipment. However, because of poor healthcare insurance programmes, pricey airway control devices are not widely used in developing nations. The World Bank Group estimates that the average cost of healthcare in developing countries is USD 80 per person per year (or USD 0.5 trillion), which has a detrimental effect on the financial status of the poor because universal health coverage is frequently absent.

Players in the market are investing in research and development (R&D) to create clever and distinctive strategies in order to maintain their growth in the market. These tactics include the introduction of new products, mergers and acquisitions, partnerships, collaborations, and the renovation of current technologies.

US Airway Management Devices Market is poised to grow at a sustainable CAGR for the next forecast year.