Laryngeal Mask Market Size – Industry Structure Evaluation, Demand Drivers Analysis, Regional Growth Analysis and Identification, Competitive Positioning Review & Global Market Size Forecast to 2029
Overview
Laryngeal Mask Market size was valued at US$ 1.78 Bn in 2022 and the total revenue is expected to grow at 11% through 2023 to 2029, reaching nearly US$ 3.7 Bn.
Laryngeal Mask Market Overview:
A common supraglottic airway is the laryngeal mask airway (LMA). The LMA is a supraglottic airway tube with a cuffed mask at one end that produces a low-pressure seal across the laryngeal entrance when it is inserted orally. Compared to other systems, LMA ventilation has various advantages. A laryngeal mask is a single-use or reusable supraglottic airway device that can be used to maintain an open airway for a short period.
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Laryngeal Mask Market Dynamics:
The increased use of the Type during surgeries or an aesthetic treatment can be ascribed to the growth. The market for laryngeal masks is being driven by an increase in the number of surgical procedures combined with an increase in disposable device demand. Furthermore, the rising frequency of chronic disorders that necessitate surgery and anesthesia is fueling Type demand, resulting in market expansion. Over 1.3 million surgical procedures are performed in Canada each year, according to medico-legal data published by the Healthcare Insurance Reciprocal of Canada (HIROC) and the Canadian Medical Protective Association (CMPA), fuelling demand for laryngeal masks.
A coronavirus causes the COVID-19 pandemic, which is spread mostly by droplets, aerosols, and direct contact. Anesthetists are at an increased risk of infection as a result of their frequent engagement in aerosol-generating airway procedures. During the epidemic, this resulted in a sluggish uptake of laryngeal masks. Due to the coronavirus pandemic, many anesthetic recommendations have arisen; core management principles include protecting healthcare personnel and limiting aerosol pollution.
As per the Congressional Research Service, report, the federal investment for research and development in the U. S. went from USD 2.8 billion in 1953 to USD 127.2 billion in 2018. These factors promote R&D in the US. and are projected to benefit the laryngeal mask industry. The growing geriatric population is fuelling the growth of the laryngeal mask market. Chronic diseases are common in the elderly, which often necessitate surgery. As a result, the number of cases of numerous long-term diseases is expected to rise as the senior population grows. According to a report published by the Population Reference Bureau titled "Aging in the United States," the country's geriatric population will grow from 48 million in 2016 to 98 million by 2060.
Laryngeal Mask Market Segment Analysis:
The adult patient segment is anticipated to adhere to the growth of the Laryngeal Mask Market.
In 2022, the adult patients segment led the laryngeal mask market, accounting for more than 58.8% of total revenue. This is due to the fact that this category has a comparably greater demographic. Due to the sheer rising number of surgeries performed and the high prevalence of chronic diseases among adults, the category will continue to grow at a steady CAGR. According to the International Journal of Environmental Research and Public Health, over half of all Americans have at least one chronic illness. This illustrates the possible impact of chronic illnesses on the laryngeal mask market in the near future.
The hospitals and clinics segment is supplementing the growth of the Laryngeal Mask Market.
In 2022, the hospitals and clinics category had the highest revenue share in the market for laryngeal masks, accounting for more than 60.3 %. Due to simple access and availability of attractive reimbursement schemes such as Medicare and Blue Cross Blue Shield, the segment will maintain its leading position during the predicted years. Over the forecast period, the Ambulatory Surgical Centers (ASCs) segment is expected to grow at the quickest rate of 6.4 percent. Shorter stay times, shorter wait times, and customized treatment have increased demand for outpatient services, resulting in an increase in the number of surgeries performed in ASCs.
Laryngeal Mask Market Regional Insights:
North America is projected to hit the growth of the market in the forecast period. Due to the region’s well-established healthcare infrastructure, North America held the greatest revenue share of approximately 43.6% in the market for laryngeal masks in 2022. The growth can also be linked to the region's healthcare organizations' standard regulatory obligations and Patient of practice guidelines. Furthermore, rising aesthetic usage during surgeries is fuelling Type demand. The global laryngeal mask market has been driven by an increase in the number of chronic obstructive pulmonary disease patients, as well as an increase in the number of surgeries and intraoperative procedures. Furthermore, an increase in the geriatric population in the US has increased the number of procedures performed in the country. According to the American Society of Anaesthesiologists (ASA), 40 million anaesthetics are provided in the United States each year.
The objective of the report is to present a comprehensive analysis of the Laryngeal Mask Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Market dynamics, structure by analyzing the market segments and project the Market size. Clear representation of competitive analysis of key players by Grade, price, financial position, Grade portfolio, growth strategies, and regional presence in the Market make the report investor’s guide.
Laryngeal Mask Market Scope: Inquire before buying
| Global Laryngeal Mask Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2022 | Forecast Period: | 2023-2029 |
| Historical Data: | 2018 to 2022 | Market Size in 2022: | US $ 1.78 Bn. |
| Forecast Period 2023 to 2029 CAGR: | 11% | Market Size in 2029: | US $ 3.7 Bn. |
| Segments Covered: | by Type | Reusable laryngeal masks Disposable laryngeal masks |
|
| by Patient | Children Adult Geriatric |
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| by End User | Hospitals & Clinics Ambulatory Surgical Centers |
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Laryngeal Mask Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Laryngeal Mask Market Key Players
1. Thermo Fisher Scientific, Inc.
2.Teleflex Inc.
3.Intersurgical Ltd.
4.Dynarex Corp.
5.Medtronic PLC
6.Ambu A/S
7.Hitec Medical Co., Ltd.
8.McKesson Corp.
9.Thermo Fisher Scientific Inc.
10.Anandic Medical Systems
11.Narang Medical
12.Besmed Health Business Corp.
13.Vogt Medical Vertrieb GmbH
14.Ferno
15.Hsiner
16.Legend Medical Devices, Inc.
FAQs:
1. What is the Laryngeal Mask Market value in 2022?
Ans: The Laryngeal Mask Market value in 2022 was estimated as 1.78 Billion USD.
2. Which End-User segment is likely to dominate the Laryngeal Mask Market growth?
Ans: Based on the end-user, the hospitals and clinics segment held the maximum revenue share of over 60.3% in the market for laryngeal masks in 2022. The segment will retain the dominant position throughout the forecast years due to easy access and availability of favorable reimbursement policies, such as Medicare, and Blue Cross Blue Shield.
3. Which Region is expected to dominate the Laryngeal Mask Market during the forecast period?
Ans: North America dominated the laryngeal mask market with a share of 43.95% in 2019. This is attributable to the increasing number of surgeries and respiratory diseases.
4. What are the factors driving the Laryngeal Mask market?
Ans: Key factors driving the laryngeal mask market growth include the increasing number of surgical procedures, technological developments, the prevalence of chronic respiratory diseases, and the geriatric population.
5. Who are the key players in the Laryngeal Mask Market?
Ans: Some key players operating in the laryngeal mask market include Teleflex Incorporated, Intersurgical Ltd, Dynarex Corporation, Medtronic, Ambu A/S, Hitec Medical Co., Ltd, Carefusion, Thermo Fisher Scientific, Anandic Medical Systems, Narang Medical, Besmed Health Business Corp, Vogt Medical, Ferno, Hsiner Co. Ltd, and Legend Medical Devices, Inc.