The latest market report published by Credence Research, Inc. “Endotracheal Tubes Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global endotracheal tubes market expected to expand at a CAGR of 6.0% from 2018 to 2026.
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The global endotracheal tubes market is poised to grow during the forecast period owing to growing volume of surgeries globally. Rising number of chronic respiratory diseases is also a major driving factor for the growth of endotracheal tubes market. Technology advancements in the intubation with claims of reduction of ventilator-associated pneumonia and other nosocomial infections will further increase the demand for endotracheal tubes market. In terms of product type, coated tubes held the significant share in the endotracheal tubes market.
These tubes are coated by antibiotic agents that reduce the risk of infections and growth of bacteria. Reinforced/armoured tubes is projected to grow at fastest rate during the forecast period. In terms of end-user, hospitals held the largest share in the market, while ambulatory surgical centers (ASCs) emerged as the fastest growing market due to growing number of ASCs in North America and Asia Pacific.
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In terms of geography, the global endotracheal tubes market was dominated by North America. The major factors driving the market include high prevalence of chronic respiratory diseases, approvals of endotracheal tubes, and efficient reimbursement scenario in the region. High occurrence of ventilator-associated pneumonia (VAP) in the region is also a major driver for the growth of endotracheal tubes market. For instance, according a research VAP affects approximately 27% of the patients in ICU in the United States. Moreover, high healthcare spending and developed healthcare infrastructure will further drive the market.
Asia Pacific emerged as the fastest growing region in the endotracheal tubes market owing to higher unmet medical needs, growing geriatric population, and increasing prevalence of respiratory diseases in the countries like China and India due to air pollution. Growing volume of surgeries performed, improving medical services and growing healthcare spending makes Asia Pacific the most attractive market for endotracheal tubes market.
The key players currently engaged in endotracheal tubes market include Medtronic PLC, Becton Dickinson & Co., Smith’s Medical, ConvaTec Group, Teleflex Incorporated, Fuji Systems Corp., Airway Innovations, Medline Industries, and Intersurgical GmbH among others.
Key Market Movements:
- Growing prevalence of chronic respiratory diseases and ventilator-associated pneumonia (VAP) globally
- Technological advancements in the tubes to reduce the chances of VAP
- Rapid growth in healthcare sector in Asia Pacific to drive the demand for endotracheal tubes market
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