The tracheostomy products market size has the potential to grow by USD 42.12 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by end user (hospitals, ASCs, and others) and geography (North America, Europe, Asia, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Bicakcilar Medical Devices, Cook Group Inc., Fisher & Paykel Healthcare Corp. Ltd., Fuji Systems Co. Ltd., Medtronic Plc, Smiths Medical Inc., Stening SRL, Teleflex Inc., TRACOE Medical GmbH, and Troge Medical GmbH.
Market Overview
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Market Competitive Analysis
The market is fragmented due to the presence of well-established players. The vendors in this market are focusing on the development of innovative, flexible applications, and user-friendly products. Additionally, to improve their market positions, the vendors are also investing in product development, geographic expansion, and the adoption of modern technologies. Bicakcilar Medical Devices, Cook Group Inc., and Fisher & Paykel Healthcare Corp. Ltd. are some of the major market participants. Although the increasing number of traumatic injury cases will offer immense growth opportunities, procedural complications and post-operative care will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this tracheostomy products market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this tracheostomy products market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Bicakcilar Medical Devices
- Cook Group Inc.
- Fisher & Paykel Healthcare Corp. Ltd.
- Fuji Systems Co. Ltd.
- Medtronic Plc
- Smiths Medical Inc.
- Stening SRL
- Teleflex Inc.
- TRACOE Medical GmbH
- Troge Medical GmbH
Tracheostomy Products Market: Segmentation by End-user
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Hospitals are equipped with advanced medical infrastructure including tracheostomy products, which enables them to cater to various needs of individuals. The increase in number of hospital admittances for surgical care will contribute to the growth of the market in this end-user segment.
Market growth in this segment will be slower than the growth of the market in the ASCs segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the tracheostomy products market size.
Tracheostomy Products Market: Segmentation by Geography
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North America was the largest tracheostomy products market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rise in number of individuals with chronic diseases and the increasing occurrence of traumatic injuries will significantly drive tracheostomy products market growth in this region over the forecast period.
41% of the market’s growth will originate from North America during the forecast period. The US is one of the key markets for tracheostomy products in North America. Market growth in this region will be slower than the growth of the market in Asia.
Tracheostomy Products Market: Key Drivers and Trends
The tracheostomy products market will register a CAGR of over 4% by 2024. The increasing incidences of throat cancer and laryngeal and hypopharyngeal cancers is one of the major factors driving market growth. Factors including the increased uptake of tobacco, alcohol, diet rich in fat, sugar, and contribute to the rise in the incidences of cancers including throat cancer and laryngeal and hypopharyngeal cancers. This drives the need for surgical interventions for airway management and tracheostomies associated with these kinds of surgical interventions, subsequently driving the tracheostomy products market value.
The rise in demand for homecare services, one of the key tracheostomy products market trends, will also drive market growth during the forecast period. Individuals with irreversible airway obstruction due to chronic, systemic or autoimmune diseases are more prone to undergo long-life tracheostomy intubation. This drives the need for cautious and meticulous homecare of the tracheostomy tube and the stoma as it is one of the preferred life-saving procedures for critically ill patients.
Tracheostomy Products Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive tracheostomy products market growth during the next five years
- Precise estimation of the tracheostomy products market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the tracheostomy products market industry across North America, Europe, Asia, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of tracheostomy products market vendors
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