Global Coated Endotracheal Tube Market Expected to Reach $2,518 Million by 2023 - Allied Market Research
PORTLAND, Oregon and PUNE, India, March 9, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, Coated Endotracheal Tubes Market, by Intubation, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global coated endotracheal tube market was valued at $1,629 million in 2016, and is estimated to reach $2,518 million at a CAGR of 6.3% from 2017 to 2023.
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Endotracheal tube is a medical device employed for airway management in critically injured, ill, or anesthetized patients. This tube is inserted in the trachea either through mouth or nose to confirm the adequate exchange of oxygen and carbon dioxide and maintains the patients airway. These tubes are coated with antimicrobial coatings to avoid the bacterial growth or biofilm formation on the surface of endotracheal tube, which may cause airway obstruction.
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The major factors that drive the coated endotracheal tubes market include increase in number of surgical procedures due to increase in chronic respiratory diseases, rise in prevalence of ventilator associated pneumonia, advantages of coated endotracheal tubes over traditional tubes, and growth in geriatric population. However, high risk of post-operative complications after endotracheal intubation and dearth of skilled professionals hamper the market growth. Conversely, the development of advanced coated endotracheal tubes, and untapped emerging economies, provide lucrative growth opportunities for the market.
The arm ABPM devices segment occupied the largest share in 2016, owing to the high usage, applicability, and availability of these devices for measuring ambulatory blood pressure. It is anticipated to continue its dominance during the forecast period. However, the wrist ABPM devices segment is expected to grow at the highest CAGR from 2017 to 2023.
Orotracheal intubation segment occupied the largest share in 2016, and is anticipated to continue its dominance during the forecast period. This is owing to the high usage, applicability, and comfortability. However, the nasotracheal intubation segment is expected to grow at the highest CAGR from 2017 to 2023. The utilization rate of coated endotracheal tubes for anesthesia is high; however, emergency medicine segment is expected to grow at a high rate during the forecast period. This is attributed to the increase in incidence of various types of trauma injuries and road accidents.
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Key Findings of the Coated Endotracheal Tube Market:
- Orotracheal intubation segment accounted for around two-thirds share of the global coated endotracheal tubes market in 2016.
- Ambulatory surgical centers segment is expected to grow at a CAGR of 5.6% from 2017 to 2023.
- Emergency medicine segment accounted for around 34.9% share of the global coated endotracheal tubes market in 2016.
- North America accounted for around 43.9% share of the global coated endotracheal tubes market in 2016.
- Asia-Pacific is expected to grow at the highest CAGR of 7.3% from 2017 to 2023
North America was the leading revenue contributor to the global coated endotracheal tubes market, accounting for more than two-fifths share of the global market. This is attributed to the early approval of endotracheal tubes and high use of these tubes due to rise in incidence of chronic diseases. However, Asia-Pacific is expected to grow at the highest CAGR of 7.3% during the study period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness toward coated endotracheal tubes.
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