Tracheostomy Tube Market Report Overview
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The global tracheostomy tube market size is expected to be USD 186.3 million in 2021 and is projected to touch USD 271.32 million by 2031, at a CAGR of 3.8% during the forecast period.
To build a surgical airway in the trachea, a tracheostomy is a surgical surgery. A tracheostomy surgery is necessary for a number of illness situations, including breathing difficulties, brain damage, and infectious or chronic airway infections. Tracheostomy can be a short-term or long-term operation. Small medical devices called tracheostomy tubes are created to make the tracheostomy process easier. A tiny, curved tube is used for tracheostomies. The surgeon makes a tiny incision to implant it into the trachea. This little cut makes it easier for air to get through during surgery and helps the doctor start the patient breathing on his or her own. Currently, tracheostomy operations and tracheostomy tubes are a necessary component of surgical procedures. Growing number of tracheostomy procedures worldwide will augment the tracheostomy tube market share.
COVID-19 Impact: Concerns Regarding Respiratory Problems Led to Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with tracheostomy tube experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
The number of patients requiring mechanical ventilation, as well as respiratory help, has significantly grown as a result of the COVID-19 pandemic. While some of these patients need tracheostomies to enable weaning and better utilization of hospital resources, many of these patients require artificial breathing for an extended period of time. The creation of aerosols and the considerable danger of nosocomial transmission to medical workers make the tracheostomy approach challenging to execute. Despite being the mainstay of care in many ICUs, percutaneous tracheostomy (PCT) has a greater risk of generating aerosols than surgical tracheostomy.
Tracheostomy, however, serves the purpose of helping COVID-19 patients wean. It is anticipated that rising healthcare costs and the economies of countries like the U.S., China, and India, among others, would offer lucrative opportunities for industry players. Additionally, tracheostomy devices are used in tracheostomy treatments for a variety of conditions, such as obstructive sleep apnea, chronic lung disease, anaphylaxis, throat cancer, coma, diaphragm dysfunction, laryngectomy, and vocal cord paralysis. Due to advantageous reimbursement policies, a growing healthcare infrastructure, and a high frequency of respiratory disorders, the market is expected to increase. Due to these factors, COVID-19 had a positive impact on the tracheostomy tube market.
LATEST TRENDS
"Increase in Chronic Diseases to Push the Market Growth"
The tracheostomy tubes market is currently being driven by the ageing population, increasing prevalence of chronic respiratory illnesses, and rising number of surgical procedures.
The tracheostomy tubes market is anticipated to expand as a result of escalating technical developments in the industry and improved consumer access to cutting-edge goods.
As the prevalence of chronic respiratory diseases rises and the effectiveness of airway products increases, there is a rising need for tracheostomy tubes. Tracheostomy tube sales have increased as a result of several product innovations that have changed oral care for ventilated patients in intensive care units. The demand for tracheal tubes in surgical procedures is increasing as awareness of their value in increasing a patient's chances of survival grows. The aforementioned factors will have advance the tracheostomy tube market landscape in the forthcoming years.
Tracheostomy Tube Market Segmentation
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- By Type Analysis
By type, market is segmented into PVC tracheostomy tube, silicone rubber tracheostomy tube and others. The PVC tracheostomy tube will dominate the market in the coming years.
- By Application Analysis
Based on applications, the market is emergency treatment and therapy. The emergency treatment segment will lead the global share through 2028.
DRIVING FACTORS
"Neonatal Patients to Drive the Market Demands"
A tracheostomy is an option for patients with respiratory failure who require extended invasive mechanical ventilation using an endotracheal tube in order to reduce some of the discomfort and dangers of endotracheal tube use. From 2022 to 2030, the paediatric/neonatal patients’ market is anticipated to expand at a sizable CAGR. Tracheotomies are less frequent in children than in adults, nevertheless. Anatomical upper airway obstruction is the most frequent cause of tracheostomy surgeries in paediatric/neonatal patients. Therefore, the growing number of neonatal/paediatric patients will drive the tracheostomy tube market growth in the future.
"Home Care Patients and Their Need for Long-Term Accessories to Push the Market Growth"
An essential component of geriatric care is home care. Numerous underlying medical conditions are causing an increase in the number of long-term tracheostomy patients who need care in their homes. The demand for tracheostomy tubes and accessories in homecare settings is rising as a result of patients who have upper airway deformity or blockage that necessitates enhanced airway management, patients who require prolonged invasive ventilator support, and patients with various disorders that compromise the integrity of the upper airway management.
RESTRAINING FACTORS
"High Cost of the Procedures And Equipment To Hamper The Market Growth"
In the near future, the market for tracheostomy goods may face further challenges due to the rising price of tracheostomy surgery. Some of the key factors anticipated to hinder the worldwide market for tracheostomy tubes during the projected period are insufficient tracheostomy tube reimbursements and the comparably high cost of these devices.
Tracheostomy Tube Market Regional Insights
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"North America to Lead Global Share due to Advancing Healthcare Industry "
Due to the quick development of novel treatments and technologies for throat cancer, the increasing presence of major companies in the region, and the region's well-developed healthcare infrastructure, North America led the market in terms of revenue share. A number of key reasons, including increased healthcare spending per person and a high prevalence of respiratory disorders, also contribute to the market's expansion. Additionally, encouraging government efforts and a rise in research partnerships are projected to promote market expansion in the North American area. The CDC reports that nearly 9 million Americans have been diagnosed with severe bronchitis.
The region with the fastest anticipated growth is Asia Pacific, which is expected to have a robust CAGR throughout the projection period. Due to the Asia Pacific region's highly populated and polluted nations, which contribute to an increase in respiratory disorders, the region has experienced rapid expansion. It is anticipated that the quick development of in-home care and treatment services would also increase product demand in Asia Pacific, boosting the rise of the regional market over the projection period.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Medtronic (Ireland)
- Teleflex Medical (U.S.)
- Smith's Medical (U.S.)
- TRACOE Medical (Germany)
- ConvaTec (UK.)
- Fuji Systems (Japan)
- Sewoon Medical (South Korea)
- Boston Medical (U.S.)
- Well Lead (China)
- TuoRen (India)
- Pulmodyne (U.S.)
REPORT COVERAGE
The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 186.3 Million in 2021 |
Market Size Value By |
US$ 271.32 Million by 2031 |
Growth Rate |
CAGR of 3.8% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the tracheostomy tube market expected to touch by 2031?
Over the research period, the tracheostomy tube market is anticipated to reach USD 271.32 million in 2031.
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What CAGR is the tracheostomy tube market expected to exhibit by 2031?
The tracheostomy tube market is expected to exhibit a CAGR of 3.8% by 2031.
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Which are the driving factors of the tracheostomy tube market?
Neonatal and home care patients are the reasons behind driving the tracheostomy tube market.
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Which are the top companies operating in the tracheostomy tube market?
Medtronic, Teleflex Medical, Smiths Medical, TRACOE Medical, ConvaTec and Fuji Systems are some of the top companies operating the tracheostomy tube market.