Tracheostomy is a surgical intervention performed to treat respiratory disorders. In tracheostomy procedure, a stoma (surgical opening) is created through neck into the trachea or the windpipe. It is performed to provide oxygen to the lungs when a person is unable to breathe due to injury/accident, weak lung muscles, when the throat is blocked due to a tumor growth or swelling. Tracheostomy products are medical devices and accessories used in the tracheostomy process.
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Data Bridge Market Research analyzes the Global Tracheostomy Products Market is expected to reach USD 1,120,868.52 thousand by 2031 from USD 722,755.00 thousand in 2023, growing with a substantial CAGR of 5.8% in the forecast period of 2024 to 2031.
Key Findings of the Study
Growing Healthcare Expenditure
A broad number of social and economic factors including the financial mechanisms and the organizational structure of the health system influence the level of funds spent on health by a nation and its growth rate over the years. In particular, the average income level of a nation is closely linked to how much the population spends on healthcare in that nation. Healthcare expenditure has increased across the globe as the disposable income of people is increasing.
The greater the healthcare expenditure of a country, the lower the likelihood of disease and non-operated death. The increased healthcare expenditure renders the patients to get operated on whenever necessary in the primary stage of disease thereby preventing unwanted complications.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Product (Tracheostomy Tubes, Cannula, Tracheostomy Clean & Care Kits, Tracheostomy Catheter, Tracheostomy Dressing, Tracheostomy Ventilation Accessories, and Others), Type (Closed System and Open System), Technique (Percutaneous Dilatational Tracheostomy, Surgical Tracheostomy, and Translaryngeal/ Fantoni Tracheostomy), Material (Silicone, Polymer, and Others), Age Group (Geriatric, Adult, and Pediatric), Usability (Disposable and Reusable), End User (Hospitals, Clinics), Ambulatory Surgical Centers (ASCs), Trauma Centers, Home Healthcare, and Others), Distribution Channel (Direct Tender, Retail Sales, and Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, Italy, U.K., Spain, Switzerland, Russia, Netherlands, Belgium, Turkey, Rest of Europe, China, Japan, India, Australia, South Korea, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Saudi Arabia, South Africa, U.A.E., Israel, Egypt, and Rest of Middle East and Africa
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Market Players Covered
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Medtronic (Ireland), Teleflex Incorporated (U.S.), Andreas Fahl Medizintechnik – Vertrieb GmbH (Germany), Smiths Medical (A subsidiary of ICU Medical) (U.S.), ConvaTec Group PLC (U.K.), Fisher & Paykel Healthcare Limited (New Zealand), Bicakcilar Medical (Turkey), Cook (U.S.), Coloplast Corp (Denmark), TROGE MEDICAL GmbH (Germany), Boston Medical Products Inc. (U.S.), Medis Medical (UK) Ltd (China), Stening SRL (Argentina), and DEAS S.R.L. (Italy), among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis
The global tracheostomy products market is segmented into eight notable segments such as product, type, technique, material, age group, usability, end user, and distribution channel.
- On the basis of product, the market is segmented into tracheostomy tubes, cannula, tracheostomy clean & care kits, tracheostomy catheter, tracheostomy dressing, tracheostomy ventilation accessories, and others
In 2024, the tracheostomy tubes segment is expected to dominate the Global Tracheostomy Products Market
In 2024, the tracheostomy tubes segment is expected to dominate the market with a market share of 37.90% because tracheostomy tube facilitates the delivery of air directly to the lungs.
- On the basis of type, the market is segmented into closed system and open system
In 2024, the closed system segment is expected to dominate the Global Tracheostomy Products Market
In 2024, the closed system segment is expected to dominate the market with a market share of 60.91% due to the increasing demand for tracheostomy products among the population.
- On the basis of technique, the market is segmented into percutaneous dilatational tracheostomy, surgical tracheostomy, and translaryngeal/fantoni tracheostomy. In 2024, the percutaneous dilatational tracheostomy segment is expected to dominate the market with a market share of 81.42%
- On the basis of material, the market is segmented into silicone, polymer, and others. In 2024, the silicone segment is expected to dominate the market with a market share of 62.31%
- On the basis of age group, the market is segmented into geriatric, adult, and pediatric. In 2024, the geriatric segment is expected to dominate the market with a market share of 76.71%
- On the basis of usability, the market is segmented into disposable, and reusable. In 2024, the disposable segment is expected to dominate the market with a market share of 68.78%
- On the basis of end user, the market is segmented into hospitals, clinics, Ambulatory Surgical Centers (ASCs), trauma centers, home healthcare, and others. In 2024, the hospitals segment is expected to dominate the market with a market share of 58.75%
- On the basis of distribution channel, the market is segmented into direct tender, retail sales, and others. In 2024, the direct tender segment is expected to dominate the market with a market share of 68.69%
Major Players
Data Bridge Market Research analyzes Medtronic (Ireland), Coloplast Corp (Denmark), Smiths Medical (A subsidiary of ICU Medical) (U.S.), Teleflex Incorporated (U.S.), ConvaTec Group PLC (U.K.) as major market players of global tracheostomy products market.
Market Development
- In September 2022, Boston Medical Products Inc. introduced e-labelling Receipt, a contemporary initiative aimed at enhancing the accessibility of product information for healthcare professionals. This approach involves utilizing electronic platforms to provide comprehensive details about medical products, such as instructions, specifications, and safety guidelines. The adoption of e-labelling by Boston Medical Products is likely to benefit the company by improving operational efficiency and reducing costs associated with traditional paper-based labelling processes
- In October 2021, Medis Medical (UK) Ltd launched a product Laryngeal mask at the American Association for Respiratory Care. This product exhibition done by the company has increased its credibility and demand in the market
- In January 2020, Cook announced a collaboration with Bentley in the field of clinical trials involving Cook’s fenestrated and branch stent grafts and Bentley’s covered stents. This collaboration helped the company to increase its product portfolio leading to increased demand for its product in the market
- In January 2020, Smiths Medical acquired Access Scientific, LLC, a U.S. based medical device manufacturing firm. This acquisition done by the company will increase its product portfolio and demand in the market in future
- In April 2019, Stening SRL initiated a study for the classification of medical device using different machine learning techniques as logistic regression, decision tree and support vector machines. This study initiated by the company aimed to increase the technical vision of their products along with their increased knowledge among the consumers. Thus, this study has increased the demand for its product in the market
Regional Analysis
Geographically, the countries covered in the global tracheostomy products market report are U.S., Canada, Mexico, Germany, France, Italy, U.K., Spain, Switzerland, Russia, Netherlands, Belgium, Turkey, rest of Europe, China, Japan, India, Australia, South Korea, Singapore, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, Saudi Arabia, South Africa, U.A.E., Israel, Egypt, and rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
North America is estimated to be the dominant region in the Global Tracheostomy Products Market
North America is expected to dominate the market due to the high prevalence of respiratory disorders, advanced healthcare infrastructure, and favorable reimbursement policies.
Asia-Pacific is estimated to be the fastest-growing region in the Global Tracheostomy Products Market
Asia-Pacific is the fastest-growing region in the market due to increased awareness among patients, caregivers, and healthcare providers about the importance of proper tracheostomy management and the availability of related products and services.
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