Endotracheal Tube Market Witness High Growth Due To Increasing Demand for Endotracheal Intubation12/11/2023 Endotracheal tubes are medical devices that are inserted through the mouth or nose to establish an airway in patients undergoing anesthesia, surgery or requiring ventilator support. They are made from various materials like PVC, silicone and cuffed tubes. Endotracheal intubation helps in protecting the airway, supporting breathing and allows mechanical ventilation. It provides a clear and protected airway for gas exchange. The growing demand for airway management devices along with increasing cases of chronic respiratory diseases is estimated to boost the growth of the endotracheal tube market over the forecast period.
The global 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 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key trends in the endotracheal tube market is the growing demand for reinforced and laser resistant endotracheal tubes. During certain surgeries and procedures, high-energy laser beams are used which could potentially cut or damage the standard endotracheal tubes. To prevent any damage, manufacturers are focusing on developing laser resistant endotracheal tubes coated with materials like stainless steel or ceramics that can withstand high energy laser beams. These newly developed laser resistant endotracheal tubes provide better protection to patients during surgical procedures involving laser devices. The increasing use of lasers in various medical applications is estimated to propel the demand for laser resistant endotracheal tubes over the forecast period. Porter's Analysis Threat of new entrants: The requirement of high initial investment and regulatory approvals pose significant entry barriers for new players. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative product options in the market. Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and dominance of few major suppliers. Threat of new substitutes: Threat of substitutes is low due to specialized product design and applications of endotracheal tubes. Competitive rivalry: The endotracheal tube market is highly competitive due to presence of major players. SWOT Analysis Strength: Wide applications in respiratory care, advanced product features to improve patient safety and outcomes. Weakness: Requirement of high capital investment and stringent regulatory approvals. Potential complications if not used properly. Opportunity: High unmet needs in developing regions, technological advancements to develop innovative products. Threats: Threat from substitute products, pricing pressure from low-cost manufacturers. Key Takeaways The global Endotracheal Tube Market Demand is expected to reach USD 920.0 Mn by 2023, exhibiting a CAGR of 6.6% during the forecast period. Increasing incidence of respiratory diseases and rise in number of surgical procedures requiring ventilation support are expected to drive the market. North America dominated the endotracheal tube market and is expected to maintain its leading position over the forecast period. This is attributed to factors such as presence of major players, growing geriatric population suffering from respiratory diseases and technological advancements. Europe is projected to be the second most lucrative region in the endotracheal tube market due to increasing demand for ICU beds and rising number of emergency surgical procedures in the region. 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. For More Insights, Read- https://www.ukwebwire.com/the-new-avenue-for-endotracheal-tube-market-size-and-share-analysis/
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