Endotracheal tubes are devices used for establishing an airway in patients undergoing mechanical ventilation or anesthesia. They provide an alternative route for oxygenation and removal of carbon dioxide from the lungs. The growing prevalence of respiratory diseases and rise in the number of surgeries annually are driving the demand for endotracheal tubes. Endotracheal tubes assist respiratory therapy by establishing an airway and administering anesthesia gases and ventilation during surgical procedures.
The global Endotracheal Tube Market is estimated to be valued at US$ 920 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising demand for endotracheal tubes from hospitals and ambulatory surgical centers is a major trend fueling the endotracheal tube market growth. Around 15 million surgeries requiring anesthesia are performed annually in the U.S. alone. Along with the increasing surgical volumes, there is a growing preference for minimally invasive surgeries which employ single-use disposable endotracheal tubes. This is expected to drive volumes in the endotracheal tube market over the forecast period. Manufacturers are also focused on developing novel endotracheal tubes with improved features like cameras and suction ports to facilitate intubation and patient management. The availability of specialized tubes tailored for pediatric and Covid-19 patients further expands market opportunities. However, the outbreak of the COVID-19 pandemic caused disruptions in the supply chain and production briefly.
Segment Analysis
The global Endotracheal Tube market is dominated by the adult endotracheal tubes segment, which accounts for over 60% share of the total market. Adult endotracheal tubes are the most commonly used endotracheal tubes in emergency departments and intensive care units for airway management in adult patients. Their wide availability across hospitals and easy insertion properties make them the preferred choice for establishing artificial airways in adults.
Key Takeaways
The Global Endotracheal Tube Market Demand is estimated to be valued at US$ 920 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030.
Regional analysis: North America is currently the largest market for endotracheal tubes, accounting for around 40% share. This is attributed to the high prevalence of respiratory diseases, rising number of surgical procedures, and presence of major players in the region. The Asia Pacific region is expected to witness the fastest growth during the forecast period driven by increasing healthcare spending, growing medical tourism industry, and rising demand for quality critical care in countries such as China and India.
Key players: Key players operating in the Endotracheal Tube market are Carrier, Haier Group, Emerson Electric Co., LG Electronics., Lennox International, Rheem Manufacturing Company, Trane Technologies plc, Vishay Intertechnology, Inc., Acuity Brands Lighting, Inc., Ideal Industries, Inc., Lumigrow, Hubbell, Constellation Newenergy, Inc., Energy Systems Group, Cmta, Inc., The Brewer-Garrett Company, Digi-Key Electronics, Renesas Electronics Corporation.
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