SAN FRANCISCO, Oct. 27, 2020 /PRNewswire/ -- The global laryngeal mask market size is expected to reach USD 789.0 million by 2027 according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.0%, over the forecast period. An increase in the number of surgeries that include anesthesia procedures coupled with the rising morbidity related to chronic diseases is the key contributor to market growth.
Key suggestions from the report:
The disposable mask type segment is expected to witness the fastest CAGR of around 6.6% over the forecast period owing to the rising demand for disposable masks in critical care units
The adult patient segment led the global market in 2019 with a revenue share of over 58% and will retain its dominant position throughout the forecast period
The hospitals & clinics end-user segment accounted for the largest revenue share of over 60% in 2019
This higher was attributed to rising awareness and supportive government and favorable reimbursement policies
Due to the presence of well-established companies and advance healthcare infrastructure, North America was the leading regional market in 2019
However, Asia Pacific is anticipated to register the fastest CAGR over the forecast period owing to supportive government initiatives & rapidly developing healthcare infrastructure in emerging countries
Industry players have undertaken several business strategies, such as mergers & acquisitions, collaborative agreements, and geographic expansion, to gain a higher market share
For instance, in May 2019, Ambu A/S entered into a strategic partnership with Cook Medical; according to which, Cook Medical distributed Ambu's products in the U.S.
The key advantages of the product, such as ventilation management during anesthesia, induction, maintenance, & emergence, are anticipated to drive the market growth. Furthermore, the placement of these masks does not require laryngoscopy & muscle relaxants like succinylcholine, which is known to cause postoperative myalgia in certain patients. Hence, the usage of these masks greatly reduces the incidence of postoperative myalgia.
There is an increased demand for disposable devices in critical care units. This can be attributed to the cost-effectiveness, easy assembly, and flexible process designs of these technologies. Such factors are anticipated to increase the demand for disposable laryngeal masks over the forecast period. In addition, the products need smaller footprints and lower investment, as they are simpler and do not require sanitization & cleaning. Factors like these are expected to encourage emerging companies with low capital resources to invest in the market.
Grand View Research has segmented the global laryngeal mask market on the basis of type, patient, end-use, and region:
Laryngeal Mask Type Outlook (Revenue, USD Million, 2016 - 2027)
Laryngeal Mask Patient Outlook (Revenue, USD Million, 2016 - 2027)
Laryngeal Mask End-use Outlook (Revenue, USD Million, 2016 - 2027)
Hospitals & Clinics
Ambulatory Surgical Centers (ASCs)
Laryngeal Mask Regional Outlook (Revenue, USD Million, 2016 - 2027)
Airway Management Devices Market– The global airway management devices market size was valued at USD 1.1 billion in 2016 and is expected to grow at a CAGR of 7.6% during the forecast period. The increasing prevalence of respiratory diseases is predicted to be one of the high impact rendering drivers of this market.
Artificial Ventilation and Anesthesia Masks Market– Global artificial ventilation and anesthesia masks market size was valued at USD 1,715.3 million in 2014. Key application are operation room, emergency room, intensive care units, and dental rooms for intubation, sedation, and assisted respiratory procedures.
Digital Patient Monitoring Devices Market– The global digital patient monitoring devices market size was valued at USD 38 billion in 2018 and is expected to expand at a CAGR of 27.9% over the forecast period. Rising attention towards fitness and healthy lifestyle among consumer is anticipated to fuel the growth.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.