Medtronic (Ireland) and ICU Medical, Inc. (US) are Leading Players in the Airway Management Devices Market
The airway management devices market is projected to reach USD 2.4 billion by 2028 from USD 1.8 billion in 2022, at a CAGR of 5.6% during the forecast period. Factors such as the growing number of pre-term births, rising geriatric population and increasing prevalence of chronic respiratory diseases, are supporting the market growth. Increasing demand for single-use airway management devices and significant growth potential in developing countries for airway management therapies present growth opportunities for the vendors in the market.
The airway management devices market is highly consolidated and is dominated by various players. The major players operating in this market are Medtronic (Ireland), ICU Medical, Inc. (US), Teleflex Incorporated (US), Ambu A/S (Denmark), ConvaTec Group Plc (UK). These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities further to expand their presence in the electrophoresis market.
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Medtronic (Ireland)
Medtronic (Ireland) is a leading player in the airway management devices market in 2022. The company’s products and therapies are used primarily by hospitals, physician offices, healthcare systems, ambulatory care centers, and other alternate-site healthcare providers. The company has a significant presence in more than 150 countries, which maintains its global market position. The company has also invested a significant amount of its revenue in R&D in bringing innovative products to this market space. In this regard, the company invested about USD 2.7 billion in R&D in 2022.
ICU Medical, Inc. (US),
ICU Medical, Inc. is a leading player of the airway management devices market in 2022. The company invested USD 93.0 Million in R&D activities in 2022. A significant focus on R&D activities helps the company provide innovative products and maintain and improve its competitive position in the market. The company’s products are used across acute care hospitals, wholesalers, ambulatory clinics, and alternate site facilities. With its broad product portfolio, acquisitions, and wide geographic presence the company operates in more than 100 countries across US, Costa Rica, Mexico, and the Czech Republic.
The company has created a strong foothold in the airway management devices market due to its diversified product portfolio and its focus on organic business strategies.
Teleflex Incorporated (US)
Teleflex Incorporated is an important player in the airway management devices market. Teleflex Incorporated primarily designs, develops, manufactures, and supplies single-use medical devices used by hospitals and healthcare providers. The company has a strong presence across 150 countries spanning North America, Europe, and the Asia Pacific. The company serves three end markets, namely, hospitals and healthcare providers, medical device manufacturers, and home care. In 2021, the company spent USD 130.8 Million on R&D. R&D initiatives of the company develop innovative and cost-effective products.
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Airway Management Devices Market by type (Endotracheal tubes, Tracheostomy tube, Oropharyngeal, Nasopharyngeal, Laryngoscopes, Resuscitators), Application (Anesthesia, Emergency medicine), End user (Hospitals, Home care settings)- Global Forecast to 2028
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