The global airway management devices market has been forecast to reach a value of $756 million by 2018, driven by factors such as aging global population, rising incidence of chronic respiratory diseases, and increase in number of surgical procedures.
Airway management devices are fast becoming an integral part of surgical procedures given their role in increasing the survival chances of patients. With current demographics characterised by the rise in the number of aging people, there is a high probability of an increase in the number of surgeries being performed worldwide.
Consequently, the use of airway management devices such as endotracheal tubes, laryngeal masks, and tracheostomy tubes is on rise.
The United States represents the largest region within the global airway management devices market. The laryngeal mask airways market in the US continues to witness exponential growth, primarily driven by increasing preference for disposable laryngeal mask airways.
Outside the US and Europe, the market for airway management devices remains virtually untapped. Low penetration rates in Asian and Latin American countries uncover vast opportunities for manufacturers of advanced systems. Asia-Pacific represents the fastest growing regional market reflecting a CAGR of 9.0% through 2018.
In the future, growth in the western world, particularly in the US and Europe is expected to be relatively slow against the backdrop of increasing concerns on healthcare costs.
On the other hand, emerging markets of Asia-Pacific and Latin-America are forecast to witness faster growth through 2018.
For more information on the global airway management devices market, see the latest research: Global Airway Management Devices Market Report
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