Summary
Endotracheal Tube Market Growth & Trends
The global endotracheal tube market size is expected to reach USD 3.1 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.2% from 2021 to 2028. Endotracheal tubes are used to supply oxygen or other gases to the lungs. The rising prevalence of chronic diseases such as respiratory, cardiovascular diseases, and an increasing number of surgical procedures, are expected to propel market growth. In addition, technological development pertaining to endotracheal tubes is further expected to contribute to significant market activities during the forecast period. Recently, Medtronic has launched a Shiley laser oral endotracheal tubes that are most widely used for ventilation during CO2 and Potassium Titanyl Phosphate (KTP) laser surgeries of the laryngeal or tracheal area.
Certain key factors contributing towards market revenue are the growing need for ventilator-associated with pneumonia and increasing geriatric population that are prone to chronic diseases. As per the World Health Organization (WHO) Report 2019, 4,000,000 people die prematurely due to non-treatment of chronic respiratory diseases. A prominent reason for increasing prevalence of respiratory diseases is air pollution. According to the WHO Report 2019, around 2 billion people globally are exposed to indoor toxic air, 1 billion people are exposed to outdoor pollutant air, and around 1 billion people are exposed to tobacco smoke. The above factors are likely to boost the prevalence of respiratory disorders, which in turn shall boost the demand for endotracheal tubes. With opportunities existing, manufacturers are investing in increasing awareness about the technologically advanced endotracheal tube. For instance, and developments in the field of nanobiotechnology and drug design are spaces that may exhibit higher activities for market growth.
The market witnessed a surge after the outbreak of COVID-19 as breathing difficulty is one of the primary symptoms of the infection, which can lead to collapsed lungs. According to American Association for Bronchology and Interventional Pulmonology, performing tracheostomy was recommended in Covid-19 patients with prolonged mechanical ventilation as it is can reduce the risk of infection, further contributing to market growth. However, a sudden upsurge led to certain mismanagement and chaos initially. By the end of 2020, the industry players had geared themselves up to meet all necessary demands, as well as offer smooth product distribution.
Endotracheal Tube Market Report Highlights
• By product type, the regular endotracheal tube segment held the largest revenue share of 32.0% in 2020 owing to the increasing prevalence of respiratory diseases
• The orotracheal segment held the largest revenue share and accounted for 64.9% in 2020 owing to its high applicability, increased usage, and ease of use
• Based on the end-use segment, the clinics segment accounted for the largest revenue share in 2020 owing to the shorter waiting time at clinics, convenient access to care, and affordability
• North America accounted for the highest revenue share of 37.9% in 2020 owing to the advanced healthcare system and the growing prevalence of chronic diseases in the region
• Asia Pacific is expected to witness the fastest CAGR of 7.7% over the forecast period. Development in healthcare infrastructure is resulting in an increased number of surgeries being performed, eventually fueling market growth in the region
