Airway management devices include products that help maintain an open airway and ensure adequate ventilation in patients undergoing anesthesia during surgical procedures or suffering from airway obstructions. Some key airway management devices include laryngeal masks, tracheostomy tubes, laryngeal mask airways, and endotracheal tubes. These devices play a vital role in ensuring proper airflow for patients with obstructed airways. The growing prevalence of respiratory disorders such as chronic obstructive pulmonary disease (COPD) and asthma has increased the need for effective airway management solutions. The global Airway Management Devices Market is estimated to be valued at US$ 1949.53 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

Growing Prevalence of Respiratory Disorders
The market opportunity lies in the growing prevalence of various respiratory disorders globally that requires effective airway management. According to the World Health Organization (WHO), approximately 235 million people suffer from asthma worldwide. Around 65 million people have moderate to severe COPD. The prevalence of other respiratory diseases such as pneumonia, lung cancer is also on the rise. With increasing pollution levels and changing lifestyles, the incidence of respiratory illnesses is projected to grow significantly in the coming years. This growing disease burden will augment the demand for airway management devices for ensuring safe ventilation of patients. Various players are focusing on developing innovative and durable airway management solutions to capitalize on this opportunity.

Porter's Analysis
Threat of new entrants: The airway management devices market has moderate threat of new entrants due to presence of established players and requirement of high R&D investments.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and necessity of emergency devices.

Bargaining power of suppliers: Suppliers have low bargaining power due to availability of substitutes and strong bargaining power of multinational players.

Threat of new substitutes: Threat of substitutes is low due to specialized use and expertise required for airway management devices.

Competitive rivalry: The market sees high competitive rivalry due to presence of global and local players.

SWOT Analysis
Strengths: Growing geriatric population and increasing cases of respiratory diseases drives market growth. Technological advancements leads to development of innovative devices.

Weaknesses: High costs associated with emergency care devices limits market penetration in low-income countries. Lack of skilled professionals hampers market growth.

Opportunities: Untapped developing markets like Asia Pacific and Latin America offer lucrative opportunities. Rising healthcare expenditures of emerging nations fuels market revenues.

Threats: Presence of alternative airway management techniques restricts market reach. Stringent regulatory approvals delays product launches.

Key Takeaways

The global Airway Management Devices Market Growth is expected to witness high growth at a CAGR of 7.5% during the forecast period of 2023-2030.

Regional analysis: The Asia Pacific region is poised to grow at the fastest rate during the forecast period. Presence of emerging economies like India and China, rising medical tourism, growing per capita healthcare expenditures drives the regional market.

Key players related content comprises Key players operating in the airway management devices market are Nanya PCB (Taiwan), Tripod Technology Corporation (Taiwan), Unimicron Technology Corporation (Taiwan), Ibiden Co., Ltd. (Japan), Compeq Manufacturing Co., Ltd. (Taiwan), TTM Technologies, Inc. (United States), Kingboard Holdings Limited (Hong Kong), Shennan Circuits Company Limited (China), AT&S Austria Technologie & Systemtechnik AG (Austria), Multek (a subsidiary of Flex Ltd.) (United States). These players are focusing on new product launches and geographical expansion to strengthen their market presence.

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