Tracheostomy Products Market - Forthcoming Trends & Global Future Forecasts

Research Methodologies Used for Market Size Estimation:

Primary Research:

The tracheostomy devices 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.

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.

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The study involved four major activities in estimating the current size of the tracheostomy products market. Exhaustive secondary research was carried out to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.

Recent Developments:

# In February 2019, Medtronic Plc entered into a partnership with Medical University of South Carolina (US) for the development of better and affordable healthcare solutions (including tracheostomy procedure for breathing assistance) for patients.

# In October 2017, Medtronic Plc established the Chengdu Innovation Center at Singapore for cross-disciplinary clinical training and R&D.

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 devices industry, 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.

Key Questions Addressed by the Report:

# Emerging countries are offering immense opportunities for the growth and adoption of market. Will this scenario continue in the coming years?
# Where will all the advancements in products offered by various companies take the industry in the mid-to-long term?
# What are the various research institutes where tracheostomy products find a high adoption rate?
# What are the new trends and advancements in the market?
# How is the shift in dynamics shaping the future of the market?

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Tracheostomy tubes segment accounted for the largest share of the tracheostomy products market, by type, in 2018

The tracheostomy tubes segment held the largest share of the tracheostomy products industry in 2018. The large share of this segment can be attributed to the procedural and technical benefits offered, such as the ability to pass suctioning catheters or fiberoptic devices into the collapsed area, rapid placement, fast lung isolation, and non-requirement for bronchoscopy in placement.

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 devices market. 

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).