Recently MRFR, a leading market research firm collated a novel report on “Global Tracheostomy products Market Research Study” that gives comprehensive market overview about the current market dynamics with a focus on the worldwide market.
Market Scenario:
Tracheostomy is a surgical procedure of creating an incision on the neck for direct access to the trachea so that a tub can be inserted into the windpipe to aid breathing. The tube is sometimes inserted to remove any built-up fluid in the throat and windpipe and connected to a ventilator. Tracheostomy is one of the most commonly performed procedures in ICUs. It is performed on patients with neck injuries, chronic lung diseases, neck cancer, vocal cord paralysis, etc. Tracheostomy is also used in the treatment of severe obstructive sleep apnea, patients suffering from long-term coma or unconscious patients. Tracheostomy products are used to allow the administration of positive pressure ventilation and to provide a palpable airway to patients suffering from airway obstruction. Rising incidences of throat cancer, laryngeal and hypopharyngeal cancer, severe facial trauma, tumors of the head and neck is driving the market for tracheostomy products. Sedentary lifestyle, increased consumption of tobacco and alcohol, a diet rich in sugar and fat contribute to the incidences of cancer and other chronic disease which spur the market for tracheostomy products.
The market for tracheostomy products is further propelled by the rise in number of bed-ridden geriatric population, patients in ventilator care and ICU patients. Additionally, technological advancement in tracheostomy procedures, the overall growth of the healthcare sector, R&D activities, rise in demand for home care services rising adoption of tracheostomy procedures in the healthcare sector is expected to boost the market. Growing product awareness, the rise in popularity of medical tourism are other factors. Development of advanced polymer tracheostomy tubes, which require less care and have fewer chances of infections have also aided in market expansion.
However, the market growth may be restrained by procedural complications which are accompanied by tracheostomy such as bleeding, damage to the food pipe and trachea, narrowing of the trachea, formation of abnormal tissue in the trachea, displacement of the tracheostomy tube, etc. Lack of awareness regarding such treatment options and high costs associated with tracheostomy too are likely to restrict the market growth. Considering all these factors, the global tracheostomy products market is expected to expand at a CAGR of 2.3% and reach USD 3 Billion by the end of the forecast period 2017-2023, reveals a study by Market Research Future (MRFR).
Key players of Global Tracheostomy Products Market:
Key players profiled in the report are Medtronic, Smiths Medical, Teleflex, Cook Medical, Fisher & Paykel Healthcare, TROGE Medical, Tuoren Medical, TRACOE Medical, Biçakcilar, Fuji Systems and others.
Segments:
The global tracheostomy products market is segmented on the basis of product type. Based on the product type, the market has been segmented as tracheostomy tubes, cannula, tracheostomy ventilation accessories, tracheostomy clean and care kits and others. Based on the material, the market has been segmented as polymer, silicone and others. Based on the end users, the market has been segmented as hospitals and home.
Regional analysis
US accounts for the maximum market share due to favorable reimbursement scenario and greater expenditure on healthcare. Europe is the second largest market due to large disposable income and presence of large hospitals. Asia pacific region will be the fastest region because of large unmet needs which will be led by China and India. The Middle East and Africa market will be led by the gulf nations particularly Saudi Arabia and UAE. The poor regions of Africa is expected to be a laggard due to poor economic and political conditions.
FOR MORE DETAILS – https://www.marketresearchfuture.com/reports/tracheostomy-products-market-3227
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