Smiths Group plc (UK) and TRACOE Medical GmbH (Germany) are leading players in Tracheostomy Products Market

PUNE, India, 2020-Jul-13 — /EPR Network/ —

The tracheostomy products market size is projected to reach USD 220 million by 2024 from USD 179 million in 2019, at a CAGR of 4.2% during the forecast period. Factors such as the increasing prevalence of respiratory diseases & disorders, technological advancements, rising patient demand for home care services, favorable reimbursement scenario, and the availability of clinical evidence for their safety & efficacy are driving the growth of the tracheostomy products industry. However, the high cost of tracheostomy procedures and a dearth of skilled surgeons to conduct tracheostomy procedures are expected to restrain the growth of this market to a certain extent during the forecast period.

Medtronic plc (Ireland), Smiths Group plc (UK), TRACOE Medical GmbH (Germany), Teleflex Incorporated (US), and Fisher & Paykel Healthcare Ltd. (New Zealand) were the top five players in the global tracheostomy products industry. Other prominent players operating in this market include ConvaTec Group (US), Cook Group (US), Troge Medical GmbH (Germany), Well Lead Medical Co., Ltd. (US), Fuji Systems Corporation (Japan), Andreas Fahl Medizintechnik-Vertrieb GmbH (Germany), Xinxiang Huaxi Sanitary Materials Co., Ltd. (China), Medis Medical (Tianjin) Co. Ltd. (China), Boston Medical (US), and Pulmodyne (US).

The analysis of market developments between 2015 and 2019 revealed that several growth strategies such as collaborations and market expansions were adopted by players to strengthen their product portfolio and maintain a competitive position in the tracheostomy products market.

Download PDF Brochure@

Medtronic plc dominated the market in 2018. The company has a strong product portfolio for tracheostomy procedures. The company is focused on inorganic business growth strategies such as partnerships, acquisitions, and expansions to strengthen its current position in the tracheostomy products market. The company is also focusing on expanding its R&D capabilities to aid product development and commercialization across major and emerging markets. Medtronic is investing significantly in strengthening its localized product development capabilities, particularly in emerging markets. The company recently established R&D centers in Brazil and South Korea to enhance its research capabilities and presence in the Asian & Latin American markets, respectively.

Smiths Group held the second position in the global tracheostomy products market in 2018. The company has a broad range of tracheostomy products, including tubes, cleaning kits, and accessories. The company is focused on the digitization of medical devices to enable remote care and support smart hospitals in efforts toward high-efficiency automation. The company has a strong & sustained R&D initiative focused on product innovation to enhance its revenue and customer base. For instance, it commercialized more than 20 products in this market in 2018. These factors will ensure that the company will continue to hold a significant market share during the forecast period. The company has prioritized R&D investment and shown a focus on strengthening its product portfolio and acquisition to enhance its capabilities. Smiths Group is also exploring markets in emerging countries such as India and China.

TRACOE medical GmbH (US) held the third position in the global tracheostomy products market in 2018. It is specialized in the manufacturing of tracheostomy and laryngectomy products. The company focuses on innovation and technological advancement, particularly in its product line that encompasses the silcosoft, vario, modular, and technic brands. The company has also moved to expand its presence in recent years, as evidenced by its establishments in Bahrain and Germany. This is expected to increase its overall sales and production volume, which will go a long way in ensuring its continued market leadership.

Request Sample Pages@

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Matched content

Editor’s pick

Do NOT follow this link or you will be banned from the site!