SEATTLE, April 03, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global endotracheal tube market was valued at US$ 1,850.6 million in 2017, and is projected to exhibit a CAGR of 6.6% over the forecast period (2018–2026).
Key Trends and Analysis of the Endotracheal Tube Market:
Key players in the market are focused on conducting research for development of new products in order to enhance their product portfolio. For instance, in 2018, Teleflex Incorporated announced launch of a clinical study of CleanSweep closed suction system and enrolment of the first patient in the clinical trial in the U.S. The CleanSweep system utilizes both conventional suction collection and balloon sweeping techniques for removal of secretions that build up on the endotracheal tube. The trial was conducted to evaluate the ability of CleanSweep system in treating patients that receive volume or pressure assist control ventilation and require endotracheal tube suctioning more than once every 2.5 hours. These factors are supporting global endotracheal tube market growth.
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Furthermore, manufacturers are focusing on collaborating with other companies to expand their global presence and ultimately enhance their market share. For instance, in December 2018, Bactiguard announced expanding its partnership with Mediplast AB, a company focused on marketing and selling of medical disposable products and medical technical equipment. The companies previously entered into agreement for distribution and sales of Bactiguard’s products for infection prevention (BIP) in Scandinavia. According to the extended partnership agreement, Mediplast AG acquired distribution rights for Bactiguard’s infection prevention (BIP) portfolio, which includes respiratory tract, urinary tract, and bloodstream products, in Denmark, Sweden, Belgium, Norway, Luxembourg, and the Netherlands. These factors are expected to support global endotracheal tube market growth over the forecast period.
Increasing research and development activities to launch of new products are expected to support global endotracheal tube market growth. For instance, in June 2017, Sanovas Inc. announced receiving patent from the U.S. Patent and Trademark Office for its product, Imaging Stylet to be used for intubation. The stylet allows safer and quicker positioning of the endotracheal tube without losing control of the airway during endotracheal intubation.
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Key Market Takeaways:
- The global endotracheal tube market is expected to exhibit a CAGR of 6.6% over the forecast period. This is owing to increasing research and development activities and subsequent launch of products. For instance, in November 2017, Bactiguard’s infection protection endotracheal tubes (BIP ETT) received regulatory approval in India from Central Drugs Standard Control Organization (CDSCO), under Indian Ministry of Health & Family Welfare.
- The market is witnessing increasing number of collaborations across regions including North America, Europe, and Asia Pacific. For instance, in 2015, Medtronic acquired a Scotland-based company, Aircraft Medical, to expand endotracheal tube portfolio of the company’s Covidien division.
- Major players operating in the global endotracheal tube market include, NA Medical LLC, Bactiguard, Kimberly-Clark, Medtronic, Smiths Medical, Teleflex, ConvaTec Inc., Neurovision Medical Products, Intersurgical Inc., Royax, and Sanovas Inc.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.