The global endotracheal tubes market size is expected to reach USD 2.9 billion by 2027, expanding at a CAGR of 6.0%, according to a new report by Grand View Research, Inc. The rising prevalence of chronic diseases such as respiratory, cardiovascular diseases, and increasing number of surgical procedures, are expected to propel market growth. In addition,technological development in the medical device is further expected to contribute to market growth during forecast period. Recently Medtronic has launched a Shiley laser oral endotracheal tubes that are most widely used for ventilation during CO2 and KTP laser surgeries of the laryngeal or tracheal area.
Moreover,growing
need for ventilator associated with pneumonia and increasing geriatric
population that are prone to chronic diseases is one of the important factors
responsible for market growth during assessment period. As per World Health
Organization Report 2019, 4.0 million people die prematurely due to chronic
respiratory disease. Due to increasing air pollution the prevalence of
respiratory diseases is also increasing. According to World Health Organization
Report 2019, around 2.0 billion people are exposed to indoor toxic, 1.0 billion
people are exposed to outdoor pollutant air, and around 1.0 billion people are
exposed to tobacco smoke. Above factors are likely to boost market growth. In
addition, increasing awareness about technologically advanced medical devices,
and developments in the field of nanobiotechnology and drug design are some of
the factors responsible for market growth.
North
America accounted for the highest market share in 2019 owing to the advanced
healthcare system and the growing prevalence of chronic diseases in the
country. In addition, the presence of major players in the region contributed
to market growth.
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Endotracheal Tubes
Market Report Highlights
- By product
type, the regular endotracheal tube segment held the largest market share
of 32% in 2019 owing to increasing prevalence of respiratory diseases
- Orotracheal
segment held the largest market share accounted for 64% in 2019 owing to
its high applicability, increased usage and comfortability
- North America
dominated the market in 2019. Rising prevalence of chronic respiratory
disease is one of the major factors driving the market growth in this
region
- Asia Pacific
is expected to witness the fastest growth over the forecast period. As the
healthcare infrastructure in the region is developing resulting in
increased number of surgeries being performed and eventually fueling the
growth of the market.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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