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Growth Accelerated by Increased Demand for Critical Care Procedures

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Growth Accelerated by Increased Demand for Critical Care Procedures

Endotracheal tubes are used for maintaining patent airway in mechanically ventilated patients and to guide placement of endotracheal tubes during intubation procedures. These tubes help in delivering oxygen, removing carbon dioxide and prevents regurgitation of gastric contents into the lungs. Growing prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD) and an increase in number of ICU beds and ICU admissions have fuelled the demand for endotracheal tubes over the years. The global Endotracheal Tube Market is estimated to be valued at US$ 920 Mn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The growing demand for endotracheal tubes can be attributed to the increasing number of critical care procedures performed worldwide. As per data by Organization for Economic Co-operation and Development (OECD), over 40 million inpatient surgical procedures were conducted across major markets in 2018. Moreover, increasing geriatric population base prone to chronic respiratory ailments has also contributed to rising uptake of endotracheal tubes. As per WHO data, globally over 65s are expected to number more than 1.6 billion in 2050 from an estimated 703 million in 2019. This aging population and increasing lifestyle-related ailments will drive higher demand for critical care procedures requiring endotracheal intubation in turn boosting the market growth during the forecast period.

Segment Analysis

The global endotracheal tube market is dominated by the disposable endotracheal tubes segment. Disposable endotracheal tubes are the most commonly used tubes across various healthcare settings as they reduce the risk of cross-contamination between patients. Factors such as increased risk of hospital-acquired infections and FDA recommendations are contributing to the higher adoption of disposable tubes over reusable ones.

Key Takeaways

The Global Endotracheal Tube Market Size is expected to witness high growth during the forecast period of 2023–2030. The market is projected to reach a value of US$ 920 Mn by 2023, growing at a CAGR of 9.0% during the forecast period.

Regional analysis: North America is currently the dominant region in the endotracheal tube market and is expected to maintain its leading position throughout the forecast period. This can be attributed to the early adoption of advanced endotracheal tubes, developed healthcare infrastructure, and presence of major players in the region. Asia Pacific is anticipated to witness the fastest growth owing to increasing patient pool, rising medical tourism, and growing healthcare spending in the region.

Key players: Key players operating in the endotracheal tube market are Medtronic Plc, Teleflex Inc., ConvaTec Inc., Smiths Medical, Neurovision Medical Products, Intersurgical Inc., Royax, Novo Klinik-Service GmbH, Avanos Medical, Inc., Bactiguard, and N8 Medical LLC. Medtronic Plc holds the largest market share due to its diverse product portfolio and strong global distribution network. Teleflex Inc. and Smiths Medical are other prominent players in the market.

Explore more information on this topic, Please visit -

https://www.insightprobing.com/endotracheal-tube-market-growth-and-forecasts-analysis/

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https://wotpost.com/glucose-guardian-pioneering-health-with-the-continuous-glucose-monitoring-devices/

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