Airway Management Devices Global Market Report 2024

The airway management devices market size has grown steadily in recent years. It will grow from $2.49 billion in 2023 to $2.55 billion in 2024 at a compound annual growth rate (CAGR) of 2.4%. The expansion witnessed during the historical period can be attributed to several factors, including the escalating incidence of chronic respiratory ailments, a burgeoning geriatric demographic, heightened demand for minimally invasive surgical procedures, and an increased understanding of the significance of proficient airway management.

The airway management devices market size is expected to see steadily grown in the next few years. It will grow to $3.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. Anticipated growth in the forecast period is expected due to factors such as the aging population, an increased emphasis on occupational health and safety, advancements in anesthesia practices, and the expanding reach of telemedicine and remote care solutions. Significant trends forecasted for this period involve advancements in video and imaging technologies, seamless integration of telehealth services, the emergence of personalized and 3D-printed devices, the development of sophisticated airway management algorithms, and continued advancements in this area.

The surge in environmental consciousness is anticipated to steer growth in the accidental death insurance sector. Environmental concerns encompass various challenges affecting ecosystems, from pollution to climate change. With an increase in natural disasters like floods, hurricanes, and wildfires, there's a growing demand for accidental death insurance. In 2022, catastrophic events exceeded the average of the past two decades, leading to substantial loss of lives, affecting millions, and causing economic losses of $223.8 billion globally. This awareness of environmental issues is projected to drive the expansion of accidental death insurance.

The rise in road accidents is set to propel the insurance market. Road accidents, often unforeseen, result in damages and injuries. In 2021, the US witnessed 42,939 fatal car accidents, marking a 10% increase from the previous year. Such incidents are driving the growth of accidental death insurance, providing coverage against losses incurred due to these unfortunate events. Key players in the accidental death insurance sector are innovating to gain a competitive edge. For instance, in March 2022, Asteya, a US-based technology company, introduced a new product - accidental death coverage. Their digital platform aims to provide accessible insurance, particularly catering to modern entrepreneurs' needs, prioritizing financial, physical, and mental well-being.

Major companies in the accidental death insurance industry are implementing innovative strategies, like simplified underwriting processes. Streamlined underwriting could facilitate easier access to accidental death insurance coverage. For instance, in March 2023, the Hartford, a US-based insurance company, revamped its accidental death and dismemberment product. Renamed as accidental loss of life and severe injury benefits, it now offers enhanced customization for employer customers and simplified benefits education materials. The move responds to a significant need for clearer benefits education and resources among workers and employers.

Regulatory bodies like EIOPA and NAIC oversee the accidental death insurance market. In the EU, adherence to GDPR is mandatory for life insurance companies, ensuring protection in data handling. Non-compliance can result in fines up to 4% of annual turnover for data breaches, with a requirement to notify customers within 72 hours of identifying the breach. Similarly, IRDAI in India has revised its commission structure for life insurance products to ensure consistency in commissions paid.

Major companies operating in the airway management devices market include Medtronic Inc., Smiths Medical Inc., Teleflex Incorporated, Ambu A/S, KARL STORZ SE & Co. KG, Flexicare Medical Limited, Intersurgical Ltd., Becton Dickinson and Company, Mercury Medical, Well Lead Medical Co. Ltd., Unomedical Inc., SunMed LLC, Tuoren Medical Device India Pvt. Ltd., Medline Industries Inc., Armstrong Medical Limited, Zhejiang Sujia Medical Device Co.Ltd., Vyaire Medical Inc., Salter Labs Inc., Cook Medical Inc., Olympus Corporation, General Electric Company, ICU Medical Inc., ConvaTec Group PLC, VBM Medizintechnik GmbH, Boston Scientific Corporation, Fujifilm Holdings Corporation, Hoya Corporation, Richard Wolf GmbH, Stryker Corporation, Terumo Corporation, Verathon Inc., Vitalograph Ltd., Westmed Inc., Xiamen Compower Medical Tech Co. Ltd.

North America was the largest region in the airway management devices market in 2023. Western Europe was the second-largest region in the airway management devices market share. The regions covered in the airway management devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the airway management devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

These devices come in various types, including infraglottic airway management tools, supraglottic airway management devices, resuscitators, laryngoscopes, and other specialized equipment. Infraglottic devices specifically address airway obstruction, facilitating optimal air exchange and find application across anesthesia, emergency medicine, and other hospital and homecare settings.

The airway management devices market research report is one of a series of new reports provides airway management devices market statistics, including airway management devices industry global market size, regional shares, competitors with an airway management devices market share, detailed airway management devices market segments, market trends and opportunities, and any further data you may need to thrive in the airway management devices industry. This airway management devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The airway management devices market consists of sales of oropharyngeal airway (OPA), nasopharyngeal airway (NPA), and endotracheal airway (ETA). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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