What are the growth opportunities of Laryngeal Mask market in upcoming period?

Posted on 2022-09-29 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Sept 29, 2022 — /EPR Network/ —

Laryngeal Mask Industry Overview

The global laryngeal mask market size was valued at USD 541.3 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2021 to 2028.

The growth can be attributed to the increasing product usage during surgeries or during anesthesia procedures. The upsurge in the number of surgical procedures coupled with the increasing demand for disposable devices is the key driver of the market for laryngeal masks. In addition, the burgeoning prevalence of chronic diseases that require surgeries and anesthesia is fueling the product demand, thereby boosting the market growth. For instance, according to medico-legal data provided by the Healthcare Insurance Reciprocal of Canada (HIROC) & Canadian Medical Protective Association (CMPA), more than 1 million surgical procedures are performed yearly in the country; which, drives the demand for laryngeal masks.

Gather more insights about the market drivers, restrains and growth of the Global Laryngeal Mask market

The COVID-19 pandemic is caused by a coronavirus that is transmitted primarily via droplets, aerosol, or direct contact. This has caused higher infection risk to anesthetists due to their recurrent involvement in aerosol-generating airway interventions. This has caused the slow adoption of laryngeal masks during the pandemic. Various anesthetic guidelines have emerged due to coronavirus outbreak; underlying management principles include protecting healthcare workers and minimizing aerosol contamination. The rising number of technological developments is also anticipated to boost the growth of the market for the laryngeal mask. Moreover, increasing investments in R&D and demand for laryngeal mask airway ventilation is expected to fuel the demand over the forecast period. There is high competition between key players, which has prioritized R&D and innovation in the existing product portfolio.

Furthermore, according to a report by Congressional Research Service, in 2018, the federal funding for R&D in the U.S. increased from USD 2.8 billion in 1953 to USD 127.2 billion in 2018. These factors drive R&D activities in the U.S. and are expected to support the market for laryngeal masks. The rising geriatric population is further propelling the market for the laryngeal mask. Elderly people are susceptible to chronic diseases that often lead to surgeries. Therefore, the growing geriatric population is anticipated to increase the number of cases of several long-term diseases. According to the Population Reference Bureau report named “Aging in the United States”, there will be an estimated increase from 48 million in 2016 to 98 million by 2060 in the geriatric population in the country. Such factors are likely to increase product demand in the coming years.

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Laryngeal Mask Market Segmentation

Grand View Research has segmented the global laryngeal mask market on the basis of type, patient, end-use, and region:

Laryngeal Masks Type Outlook (Revenue, USD Million, 2016 – 2028)

Reusable
Disposable

Laryngeal Masks Patient Outlook (Revenue, USD Million, 2016 – 2028)

Children
Adult
Geriatric

Laryngeal Masks End-use Outlook (Revenue, USD Million, 2016 – 2028)

Hospitals & clinics
Ambulatory Surgical Centers

Laryngeal Masks Regional Outlook (Revenue, USD Million, 2016 – 2028)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Laryngeal Mask market include

Teleflex Incorporated
Intersurgical Ltd
Dynarex Corporation
Medtronic, Ambu A/S
Hitec Medical
McKesson Corporation
Thermo Fisher Scientific Inc.
Anandic Medical Systems
Narang Medical
Besmed
Vogt Medical Vertrieb GmbH
Ferno
Hsiner
Legend Medical Devices, Inc.

Order a free sample PDF of the Laryngeal Mask Market Intelligence Study, published by Grand View Research.

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.

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