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.
According to Report, the tracheostomy products market was accounted at USD 193.9 million in 2021 and it is predicted to hit around USD 278.10 million by 2030 with a CAGR of 4.09% from 2022 to 2030.
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.
Full Report is Ready | Get the sample copy of report@ https://www.visionresearchreports.com/report/sample/39231
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.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 193.9 million |
| Revenue Forecast by 2030 | USD 278.10 million |
| Growth rate from 2022 to 2030 | CAGR of 8.2% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Phase, study design, therapeutic areas, region |
| Companies Covered | Pulmodyne, Inc.; Smiths Group plc; Medtronic; TRACOE Medical GmbH; Teleflex, Inc.; Cook Group; ConvaTec Group; Boston Medical; Fisher & Paykel Healthcare Ltd.; Angiplast |
Type Insights
Based on type, the market is segmented into tracheostomy tubes, ventilation accessories, clean & care kits, and other accessories. In 2021, the tracheostomy tubes segment dominated the market with a share of more than 45% as these tubes are extensively used in tracheostomy procedures for anaphylactic, chronic respiratory illness, coma, esophageal cancer, laryngectomy, sleep apnea, vocal cord paralysis, and diaphragm malfunction, among others. Tracheostomy tubes provide substantial advantages, such as accurate precision, reduced threat of emissions and aspiration, elimination of intubations and laryngoscopies, and improved ventilation.
These tubes also offer end-tidal carbon dioxide monitoring as well as accurate tidal volume. The tracheostomy ventilation accessories segment is likely to grow at the fastest CAGR over the forecast period. Tracheostomy ventilation accessories include a respiratory mask, breathing circuit, filter and connector, expiratory valve, ECH and sensor, and test lung, among others. The rising demand for ventilation accessories is driven by the increased sales of portable mechanical ventilators. In addition, the increasing number of hospitals and academic medical institutes is contributing to the demand for ventilation systems, propelling the segment growth.
Full Report is Ready | Buy this Premium Research Report@ https://www.visionresearchreports.com/report/cart/39231
Technique Insights
Based on techniques, the global market has been further bifurcated into percutaneous dilatational tracheostomy and surgical tracheostomy. In 2021, the percutaneous dilatational tracheostomy segment dominated the market, in terms of revenue share, and is likely to expand further at the fastest growth rate of 4.6% over the forecast period. The percutaneous dilatational tracheostomy technique is considered more effective and safer than surgical procedures. It is less prone to developing any complications and can be performed in lesser time.
In addition, in severely ill patients, percutaneous dilatational tracheostomy is performed more frequently. The most common reason for percutaneous tracheostomy in critically ill patients is a prolonged ventilator-dependent hospital stay. The percutaneous dilatational tracheostomy technique has almost completely replaced surgical tracheostomy in the ICU in recent years on account of cost-effectiveness. In addition, it can be performed with ease at the patient’s bedside, eliminating the needless, and often risky, patient transfers to the Operating Rooms (ORs).
Demographics Insights
Based on demographics, the global market has been further segmented into adult patients and pediatric/neonatal patients. In 2021, the adult patients segment dominated the global market and accounted for the largest share of more than 83.00% of the overall revenue. The growth was attributed to the rapid population growth and increased incidence of various chronic diseases among the adult population that require prolonged hospital stays. One of the most prevalent ailments in adults admitted to the ICUs is respiratory failure with Invasive Mechanical Ventilation (IMV), with over 90% of adult patients requiring ICU treatment.
Patients with respiratory failure who need prolonged invasive mechanical ventilation with an endotracheal tube are offered a tracheostomy to relieve some of the uneasiness and risks associated with endotracheal tube usage. The pediatric/neonatal patients segment is also estimated to grow at a considerable CAGR from 2022 to 2030. However, a tracheotomy is less common in children than in adults. Among pediatric/neonatal patients, anatomical upper airway blockage is the most common reason for tracheostomy procedures in newborns.
End-use Insights
Based on end-use, the market is segmented into hospitals & surgery centers, ambulatory care centers, home care settings, and others. In 2021, the hospitals & surgery centers segment dominated the global market and accounted for the largest revenue share of more than 70%. This growth was attributed to hospitals’ financial capacity to acquire expensive products and equipment. Furthermore, tracheostomy products are widely employed in operating theatres, emergency care, and critical care settings. On the other hand, the home care settings segment is anticipated to register the fastest growth rate over the forecast period.
Home care is an important aspect of geriatric care. The underlying medical issues that are leading to the rising number of long-term tracheostomy patients requiring care in home settings are several. Patients having upper airway deformity or blockage requiring enhanced airway management, patients undergoing prolonged invasive ventilator support, and patients suffering from various disorders compromising the integrity of the upper airway management are responsible for the increasing demand for tracheostomy products and accessories in homecare settings.
Regional Insights
In 2021, North America dominated the market in terms of revenue share owing to the rapid development of innovative technologies and therapies for throat cancer, the growing presence of prominent players in the region, and developed healthcare infrastructure. Key factors, such as higher per capita healthcare spending and a significant number of people suffering from respiratory illnesses, also support the market growth. In addition, favorable government initiatives and an increase in the number of research collaborations are likely to boost the North America regional market growth. According to the CDC, over 9 million people in the U.S. were diagnosed with severe bronchitis in 2017.
Asia Pacific is projected to be the fastest-growing regional market registering a CAGR of 5.2% during the forecast period. The high growth can be attributed to the presence of countries in Asia Pacific that are densely populated and have high levels of pollution, which lead to the rising incidences of respiratory diseases. The rapid expansion of in-home care and treatment services is also estimated to augment the product demand in Asia Pacific, thereby supporting the regional market growth over the forecast period.
Key Players
- Pulmodyne, Inc.
- Smiths Group plc
- Medtronic
- TRACOE Medical GmbH
- Teleflex, Inc.
- Cook Group
- ConvaTec Group
- Boston Medical
- Fisher & Paykel Healthcare Ltd.
- Angiplast
Market Segmentation
- By Type Outlook
- Tracheostomy Tubes
- Ventilation Accessories
- Clean & Care Kits
- Others
- By Technique Outlook
- Percutaneous Dilatational Tracheostomy
- Surgical Tracheostomy
- By Demographics Outlook
- Adult Patients
- Pediatric/Neonatal Patients
- By End-use Outlook
- Hospitals & Surgery Centers
- Ambulatory Care Centers
- Home Care Settings
- Others
- By Regional Outlook
- North America
-
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Click Here to View Full Report Table of Contents
Full Report is Ready | Buy this Premium Research Report@ https://www.visionresearchreports.com/report/cart/39231
You can place an order or ask any questions, please feel free to contact at sales@visionresearchreports.com | +1 9197 992 333