Tracheostomy Products Industry Overview
The global tracheostomy products market size was valued at USD 193.8 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.2% over the forecast period from 2022 to 2030 owing to the growth in the incidence rate of chronic respiratory disorders like Cardiovascular Diseases (CVDs), diabetes, respiratory diseases, cancer, and other respiratory injuries. In addition, the increasing demand for tracheostomy accessories to support the growing number of surgeries performed worldwide keeps rising. COPD is one of the world’s major causes of mortality. As per the WHO, COPD affected over 251 million people globally in 2016.
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The rising frequency of tobacco smoking and poor air quality, particularly in middle-income nations, are key factors contributing to a rise in COPD prevalence, resulting in an increased demand for tracheostomy care. The COVID-19 pandemic has dramatically increased the number of patients requiring respiratory assistance, including mechanical ventilation. These patients require mechanical ventilation for a long time; however, some of them require tracheostomy to allow for weaning and better utilization of hospital resources. The tracheostomy technique, however, is difficult to perform due to the production of aerosols and the significant risk of nosocomial transmission to healthcare staff. Although percutaneous tracheostomy (PCT) is the standard of therapy in many ICUs, it has a higher risk of producing aerosols than surgical tracheostomy.
However, the function of tracheostomy is assisting with weaning in COVID-19 patients. The growing healthcare expenditure and the economies of nations, such as the U.S., China, and India, among others are expected to provide profitable prospects for market players. Moreover, tracheostomy products are used in tracheostomy treatments including obstructive sleep apnea, chronic lung illness, anaphylaxis, throat cancer, coma, diaphragm malfunction, laryngectomy, and vocal cord paralysis, among others. The market is anticipated to grow due to favorable reimbursement policies, expanding healthcare infrastructure, and a high prevalence of respiratory diseases.
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- Endotracheal Tube Market – The global endotracheal tube market size was valued at USD 1.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2021 to 2028. There is an increasing demand for endotracheal tubes owing to the rising number of surgical procedures due to increasing incidences of chronic diseases such as cardiovascular disease, cancer, and other respiratory diseases.
- Carbon Dioxide Market – The global carbon dioxide market size was valued at USD 3.68 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030. Increasing utilization of Carbon Dioxide (CO2) for Enhanced Oil Recovery (EOR) and its surging usage in food & beverages and medical industries are anticipated to fuel the growth of the global market during the forecast period.
Tracheostomy Products Market Segmentation
Grand View Research has segmented the global tracheostomy products market based on type, technique, demographics, end-use, and region:
Tracheostomy Products Type Outlook (Revenue, USD Million, 2017 – 2030)
- Tracheostomy Tubes
- Ventilation Accessories
- Clean & Care Kits
Tracheostomy Products Technique Outlook (Revenue, USD Million, 2017 – 2030)
- Percutaneous Dilatational Tracheostomy
- Surgical Tracheostomy
Tracheostomy Products Demographics Outlook (Revenue, USD Million, 2017 – 2030)
- Adult Patients
- Pediatric/Neonatal Patients
Tracheostomy Products End-use Outlook (Revenue, USD Million, 2017 – 2030)
- Hospitals & Surgery Centers
- Ambulatory Care Centers
- Home Care Settings
Tracheostomy Products Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- November 2021: ConvaTec renewed its Advanced Wound Care Products partnership with Vizient, Inc. This new partnership includes wound formulary standardization and savings initiatives, which are projected to benefit Vizient members both clinically and financially, as well as increase ConvaTec’s market potential development.
- January 2021: Cook Medical launched the blue rhino g2-multi percutaneous tracheostomy introducer kits with trays in the U.S. and Canada.
- January 2020: Smiths Medical added a (PVC) tracheostomy tube portfolio to its tracheostomy tube lineup.
Key Companies profiled:
Some prominent players in the global tracheostomy products market include
- Pulmodyne, Inc.
- Smiths Group plc
- TRACOE Medical GmbH
- Teleflex, Inc.
- Cook Group
- ConvaTec Group
- Boston Medical
- Fisher & Paykel Healthcare Ltd.
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