Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Tracheal Tube and Airway Products Market – Insights
Airway is a pathway from where air reaches to lungs. This pathway includes nose, throat, windpipe, mouth, and lungs. The airway management is a series of procedures that prevents collapsing of airway. The airway management is basically conducted in two ways through - basic and advanced techniques. Basic airway management techniques are generally non-invasive and do not require any medical devices. Advanced airway management techniques involve medical equipment and specialized training. The airway devices allow a smooth airflow during the general anesthesia and in patients who have difficulty in breathing.
Increasing product launches of tracheal tubes and airway products is expected to impel global tracheal tube and airway products market growth over the forecast period
Global tracheal tube and airway products market growth is expected to propel with the constant focus of key players on developing new products. For instance, in January 2019, Oventus Medical released a new product, O2 Vent Optima. It is used in the obstructive sleep apnea disorder. It is designed on the basis of Oventus Medical’s airway technology. It prevents collapsing of airway and unobstructed airflow from tongue, soft palate, and nose. It can be used with or without continuous positive airway pressure.
Furthermore, approvals of tracheal tubes and airway products by regulatory bodies are expected to accelerate the global tracheal tube and airway products market growth. For instance, in October 2018, Vapotherm Inc., received the U.S. Food & Drug Administration (FDA) approval for its respiratory assistance product, Flow Hi-VNI system. It removes heavy carbon dioxide and oxygen depleted exhaled air, and supplies with humidified oxygen-rich air through nasal cannulas.
Hence, introduction of such products by key players is expected to fuel growth of global tracheal tube and airway products market.
The global tracheal tube and airway products market was valued at US$ 3,050.6 million in 2017, and is expected to witness a robust CAGR of 6.4% over the forecast period (2018–2026).
Figure 1. Global Tracheal Tube and Airway Products Market Share (%), by Product Type
Source: Coherent Market Insights Analysis (2017)
Growth strategies adopted by key players related to tracheal tube and airway products are expected to boost growth of the global tracheal tube and airway products market over the forecast period
Adoption of strategies including mergers, acquisitions, collaborations, etc. by key players to maintain a competitive edge in the market is expected to drive the global tracheal tube and airway products market growth. For instance, in February 2019, Pulmodyne, a manufacturer of airway products acquired products into respiratory and emergency airway management from a developer, Mr. Steve Islava. The purpose of acquisition was to expand its product range. The products include SIPQuik Cervical Collar, NebuFlex, Pneusplint Extremity Splints, Open the Airway (OTA) CPR Board, and the Care2 Nebulizer.
Furthermore, key players are focused on participating into conferences and events related to tracheal tubes and airway products, which is expected to drive the global tracheal tube and airway products market growth. For instance, in May 2019, Sommetrics Inc. participated in Respiratory Innovation Summit which was held in Dallas. The company showcased its products related to lung and airway diseases amongst clinicians, investors, and innovators. Hence, this factor is expected to influence positively on the global tracheal tube and airway products market growth.
Figure 2. Global Tracheal Tube and Airway Products Market Share (%), by Region
However, recalling of products of tracheal tube and airway products is expected to hamper global tracheal tube and airway products market growth. For instance, U.S. FDA initiated recall of multiple models of the Hudson RCI Sheridan and Sheridan Endotracheal Tubes of Teleflex Inc. as the tubes were getting disconnected from the circuits, on May 2019 and around 6.07 million devices were recalled.
Some major 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.