"There has been a steady rise in the number of aged individuals in Europe," remarks the analyst of this research service. "This is resulting in the growing incidence of stroke, cardiac arrests and the prevalence of cancer. In this scenario, the increased use of airway management devices such as tracheostomy tubes, endo tracheal tubes and laryngeal masks in the treatment of such patients is expected to promote stable market growth." In addition, home care has gained greater importance in Europe due to efforts to reduce hospital admission and treatment costs. This offers airway management device manufacturers tremendous scope to boost sales.
Due to stiff competition, device manufacturers are compelled to reduce prices and this is resulting is severe price erosion. "Asian manufacturers that have access to economical labour and reduced overheads have made a foray into the market," says the analyst. "This presents a major challenge to European manufacturers, as the Asian vendors sell their products at comparatively lower costs." Besides, laryngeal masks are being used extensively because of their effectiveness and ease of use, which is resulting in the gradual replacement of endotracheal tubes with laryngeal masks. This is becoming an issue of concern to endotracheal tube manufacturers.
To overcome the challenge posed by Asian entrants, market participants will need to focus on introducing new technologies or developing present products. Finding new applications for the use of airway management devices will prove beneficial. Overall, while the market is in the maturity stage of its life cycle and the usage of airway management devices has reached saturation, growth is expected to be slow, but steady, in the future. Market revenues are projected to grow from $405.0 million in 2006 to $525.0 million in 2012.