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Tracheostomy Products Market Size, Share & Trends Analysis Report By Demographics, By Type, By Technique, By End Use And Segment Forecasts, 2022 - 2030

Tracheostomy Products Market Size, Share & Trends Analysis Report By Demographics, By Type, By Technique, By End Use And Segment Forecasts, 2022 - 2030

  • May 2022
  • 100 pages
  • ID: 6288299
  • Format: PDF
  • Grand View Research

Summary

Table of Contents

Tracheostomy Products Market Size, Share & Trends Analysis Report By Demographics (Adults, Pediatrics/Neonatal), By Type (Tracheostomy Tubes, Ventilation Accessories), By Technique, By End Use, And Segment Forecasts, 2022 - 2030

Tracheostomy Products Market Growth & Trends

The global tracheostomy products market size is expected to reach USD 278.8 million by 2030, registering a CAGR of 4.2% over the forecast period. The volume of surgical operations has increased with the rising incidence of chronic respiratory illnesses, such as Cardiovascular Diseases (CVDs), diabetes, respiratory diseases, cancer, or other respiratory injuries. As the number of surgeries conducted worldwide continues to rise, the demand for tracheostomy products is growing at a rapid pace. During the COVID-19 pandemic, the FDA had undertaken steps to ensure prompt access to high-quality medical devices for healthcare providers and patients to respond effectively to a public health emergency.

Therefore, the Emergency Use Authorization (EUA) regulatory strategy aids several enterprises in expanding the availability of respiratory products and accessories. Smiths Medical (U.S.) introduced Portex tracheostomy tubes and kits in January 2020. In COVID-19 patients, tracheostomy is being used to aid with weaning and maximizing healthcare resource usage. Respiratory disorders continue to be more prevalent in economies with middle and low income. According to the WHO, the higher the prevalence of pollution and cigarette usage, the greater the risk of respiratory disorders in the years ahead. This has resulted in the increased need for respiratory accessories, such as tracheostomy products. Asthma affects around 334 million people worldwide and it is the most prevalent chronic illness observed during childhood, impacting around 14% of children.

The lack of experienced professionals and the post-operative risks associated with laparoscopy operations are restricting the market growth.However, several market players are expected to introduce novel, advanced, as well as ergonomically designed upgraded products in the market over the forecast period, creating potential prospects for the market across the globe.

North America dominated the global market, in terms of revenue share, in 2021 owing to the rapid development of innovative technologies and therapies for throat cancer and the presence of advanced healthcare infrastructure. However, Asia Pacific is expected to witness the fastest CAGR over the forecast period due to the rising incidence of COPD and other chronic respiratory illnesses.

Tracheostomy Products Market Report Highlights
• The tracheostomy tubes type segment held the largest revenue share in 2021 as these systems are utilized in treatments for anaphylactic shock, coma, esophageal cancer, laryngectomy, and other disorders
• The percutaneous dilatational tracheostomy techniques segment dominated the market in 2021 as this technique has almost completely replaced surgical tracheostomy in the ICU and is more suitable for severely ill patients requiring prolonged hospital stays
• The adult patients demographics segment led the market in 2021 due to the high prevalence of chronic respiratory disorders among the adult population
• The hospitals & surgery centers end-use segment dominated the market in 2021. The larger capacity of hospitals to procure expensive equipment and the availability of qualified specialists to operate tracheostomy devices are the key factors contributing to the segment growth
• The home care settings end-use segment, on the other hand, is expected to register the fastest CAGR over the forecast period due to the rising number of patients requiring long-term care in home settings

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