Tracheostomy Products Market – Forthcoming Trends & Global Future Forecasts

PUNE, India, 2021-Jan-20 — /EPR Network/ —

Research Methodologies Followed for This Study:

Secondary Research:

In the secondary research process, various secondary sources, such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard & silver-standard websites, regulatory bodies, and databases (such as D&B Hoovers, Bloomberg Business, and Factiva) were referred to in order to identify and collect information for this study.

Primary Research:

The Tracheostomy Surgery Market comprises several stakeholders such as hospitals and surgical centers, ambulatory care centers, home care settings, and research laboratories & academic institutes. The demand side of this market is characterized by the increasing prevalence of respiratory diseases & disorders, technological advancements, and rising patient demand for home care services. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

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Major Growth Boosting Factors:

Growth in the tracheostomy products market is driven primarily by the growing public awareness related to tracheostomy procedures among medical professionals, increasing prevalence of respiratory diseases & disorders, and availability of medical reimbursement and insurance coverage.

Expected Surge in Revenue Generation:

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%.

Hospitals & surgical centers segment accounted for the largest share of the tracheostomy products market, by the end-user, in 2018

Hospitals & surgical centers were the largest application segment of the Tracheostomy Surgery Market, and this trend is expected to continue during the forecast period. A large number of private enterprises are taking steps to cater to the needs of modern, which has resulted in the large share of this segment. Other significant factors include well-equipped state-run healthcare facilities in these regions and growing healthcare consolidation to improve access to healthcare services.

Geographical Growth:

North America dominates the tracheostomy products market

The market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of the market in 2018. Factors such as the presence of a highly developed healthcare system, an increasing number of emergency department visits, high adoption of innovative tracheostomy devices among medical professionals, and wide availability of advanced tracheostomy devices are driving the market for tracheostomy products in North America.

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Market Size Estimation:

Top-down and bottom-up approaches were used to estimate and validate the total size of the Tracheostomy Surgery Market. These methods were also used extensively to estimate the size of various sub segments in the market. The research methodology used to estimate the market size includes the following:

# The key players in the industry and markets have been identified through extensive secondary research.
# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research.
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources

Data Triangulation:

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the tracheostomy industry.

Global Leaders:

The major players operating in the Tracheostomy Surgery Market are Medtronic plc (Ireland), Smiths Group plc (UK), TRACOE Medical GmbH (Germany), Teleflex Incorporated (US), and Fisher & Paykel Healthcare Ltd. (New Zealand). 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)..

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