Intubation Market 2022
The global Intubation Market is expected to go great guns in the next 10 years. It is slated to reach US$ 1.3 Bn by the year 2030. The CAGR would be 5%. With mixed reality in the foray, virtual objects could be integrated with the real-life ambience, thereby rendering simultaneous manipulation of digital twins. In other words, digital twinning is expected to be the future of healthcare vertical in the forecast period.
Rising number of surgical conditions due to trauma and chronic diseases such as diabetes, chronic respiratory, neurological, and renal diseases are expected to increase demand of medical intubation procedures, and subsequent use of intubation medical devices. For instance, increase in number of surgical procedures will have a direct impact on the sale of intubation products. According to a WHO study, in 2010, around 321.5 million surgical procedures were carried out to address the burden of different diseases for a global population of 6.9 billion.
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Moreover, rising global adoption of intubation-based surgical procedures, extensive clinical research, and increasing launches of highly sophisticated intubation medical devices are responsible for the growth of the intubation market.
Persistence Market Research predicts that the global intubation market will exhibit a 5% CAGR during the forecast period (2020-2030).
Company Profiles:
- Medtronic
- Deas S.R.L
- Medis Medical
- Smiths Medical
- Flexicare Medical Limited
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Key Takeaways from Intubation Market Study
- By product, the endotracheal tubes segment is expected to dominate the global intubation market during the forecast period, owing to high volume of surgical procedures that adopt the endotracheal intubation technique.
- In terms of usage, the disposable intubation segment is expected to gain more than 3/4 of the intubation market share. Preference for disposable intubation medical devices is due to lower infection risk and convenience during intubation procedures.
- Under the end user segmentation, hospitals and ambulatory surgical centres are expected to collectively gain more than 3/4 of the market by 2030.
- North America is the highest revenue generating market by region, due to the launch of new products with rising adoption of intubation in surgical procedures, and an increasing elderly population. North America is expected to be followed by Europe in the global intubation market.
- Lack of skilful workforce to perform intubation procedures and poorly developed healthcare infrastructures in developing economies are major challenges for the growth of the intubation market in these regions.
- The COVID-19 pandemic will have a short-term negative impact on the global intubation market, owing to supply chain disruptions, reduced hospital-based procedures, and hampered research & development activities by companies in the intubation market. Due to the outbreak, many companies are focusing on finding a possible treatment option for COVID-19. Manufacturing industries around the world have been hampered due to global restrictions, causing unusual technology and business model disruption.
“Rising burden of surgical procedures and technological advancements are expected to drive the growth of the global intubation market,” says a PMR analyst.
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Disposable Intubation Products Dominate Market
Use of disposable medical devices in intubation and surgical procedures is increasing rapidly. Risk of infection with reused intubation devices and high cost associated with sterilization for reused products are projected to drive higher preference for disposable intubation devices. In addition, use of highly advanced biodegradable material for the manufacturing of intubation devices that facilitate the disposal of single-use intubation devices is pushing the trend of disposable intubation devices in the market.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the intubation market in its latest study, presenting historical demand assessment of 2015 – 2019 and projections for 2020 – 2030, on the basis of product (airway management tubes and intubation accessories), usage (reusable and disposable), and end user (hospitals, ambulatory surgical centres, clinics, and research & diagnostic labs), across seven key regions.
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