The Endotracheal Tube Market Is Estimated To Witness High Growth Owing To Growing Use Of Ventilators For Respiratory Diseases
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| Endotracheal Tube Market |
The Endotracheal Tube Market is estimated to be valued at US$ 920.0 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
An endotracheal tube (ET tube) is a thin, flexible tube inserted into the
mouth, throat, windpipe, and lungs for administering anaesthesia or ventilation
during surgery or during a medical emergency to sustain breathing. They are
majorly used in intensive care units (ICUs)to connect a patient's lungs with a
ventilator during mechanical ventilation to oxygenate blood and remove carbon
dioxide. Growing prevalence of respiratory diseases like asthma, chronic
obstructive pulmonary disease (COPD), and respiratory infections has fueled the
demand for ventilators, thereby boosting the endotracheal tubes market.
Market Dynamics:
Rising geriatric population susceptible to respiratory diseases is a key
driver fueling growth of the endotracheal tube market. As per the UN data,
geriatric population aged 65 years and above is projected to reach 1.5 billion
in 2050 from 703 million in 2019. Moreover, increasing cases of pre-term births
leading to neonatal respiratory distress syndrome (RDS) also necessitates use
of endotracheal tubes in pediatric practice. However, high risk of
ventilation-associated pneumonia with long term usage of endotracheal tubes and
availability of alternative airway management devices like tracheostomy tubes
may restrain market growth.
SWOT Analysis
Strength:
- Endotracheal tubes are widely used in hospitals and other healthcare
settings for various respiratory procedures which increases their demand. They
are easy to use and allow for effective management of patient's airway during
surgeries or procedures. Many key players offer a wide variety of endotracheal
tubes with improved features.
Weakness:
- Improper placement or inflation of endotracheal tubes can cause complications
for patients such as tracheal injury. There are risks of infections associated
with long term usage of these tubes in critically ill patients.
Opportunity:
- Growing number of surgical procedures worldwide is driving the demand for
endotracheal tubes. Developing economies in Asia Pacific and Latin America are
expected to provide significant growth opportunities due to increasing
healthcare investments.
Threats:
- Alternatives like extraglottic airway devices pose a threat to endotracheal
tubes market. Strict regulations associated with medical device development and
approval also challenge market growth.
Key Takeaways
The Global Endotracheal
Tube Market Size is expected to witness high growth, exhibiting CAGR of
6.6% over the forecast period, due to increasing number of respiratory
diseases. North America dominates the endotracheal tube market currently owing
to rising prevalence of chronic respiratory illnesses in the region.
Regional analysis
Asia Pacific region is expected to grow at the fastest rate in the endotracheal
tube market led by increasing healthcare spending and rising cases of respiratory
disorders among growing geriatric population in China and India. North America
accounted for largest share of endotracheal tube market in 2023 assisted by
presence of major players and well developed healthcare infrastructure in the
US.
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.
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