Global Tracheal Tubes and Airway Products Market to Surpass US$ 5.3 Billion by 2026

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Jul 01, 2019, 09:41 ET

SEATTLE, July 1, 2019 /PRNewswire/ -- According to Coherent Market Insights, global tracheal tubes and airway products market was valued at US$ 3,050.6 million in 2017 and is projected to exhibit a CAGR of 6.4% over the forecast period (2018–2026).

Key Trends and Analysis of the Tracheal Tubes and Airway Products Market:

Key players in the market are focused on developing new products for airway management, which is expected to propel the global tracheal tubes and airway products market growth. For instance, in January 2017, Teleflex Inc., launched a new product, LMA Gastro Airway. It is the laryngeal mask based on cuff air technology. It is specifically designed for endoscopic procedures, offering esophageal access and controls airway.

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Key players are also focused on adoption of strategies such as mergers, acquisitions, partnerships, and collaboration which is expected to boost the global tracheal tubes and airway products market growth. For instance, in October 2017, VYAIRE Medical Inc., a manufacturer of respiratory products acquired Revolutionary Medical Inc., a manufacturer of airway management products for expansion of product line. The product portfolio includes SuperNO2VATM used for the treatment of respiratory insufficiency. It is a non-invasive ventilation positive airway pressure device.

Furthermore, higher prevalence of chronic obstructive pulmonary diseases are expected to drive the global tracheal tubes and airway products market growth. According to World Health Organization (WHO) data, in 2016, around 251 million people were found to suffering from chronic obstructive pulmonary diseases worldwide. Hence, these factors are expected to impact positively on the global tracheal tubes and airway products market growth.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/tracheal-tube-and-airway-products-market-2766

Key Market Takeaways:

A CAGR of 6.4% is expected during the forecast period (2018–2026), owing to increasing adoption of strategies such as mergers, acquisitions, collaborations, and partnerships by key players
Higher prevalence of diseases such as chronic obstructive pulmonary diseases, and other respiratory diseases are expected to impel the global tracheal tube and airway products market growth
North America region is expected to hold dominant position over the forecast period, owing to presence of leading companies such as Teleflex Inc., Halyard Health, BomiMed, and others
Some of the major players operating in the global tracheal tubes 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

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SOURCE Coherent Market Insights