The airway management devices market in the Middle East & Africa is expected to grow from US$ 70.00 million in 2022 to US$ 102.94 million by 2028. It is estimated to grow at a CAGR of 6.6% from 2022 to 2028.
Extending Research and Development Activities and Collaborations Among Market Players
Medical device research and development are considered highly capital-intensive and fraught with enormous risks. R&D is an essential step, after which the best ideas are converted into the best products. A thriving R&D ecosystem can become the perfect nurturing ground for developing competitive and top-of-the-line products, from conceiving an ideal product design to new product development, prototyping, validation, and testing. To produce innovative products, MedTech companies are investing a huge part of revenue in R&D. For instance, in 2021, ResMed invested US$ 225.3 million in research and development activities, representing 7.0% of their net revenues from 2021 and 12% from 2020. With a continued focus on developing and commercializing new, innovative products and solutions, the company aims to improve patient outcomes, help physicians and providers better manage chronic diseases, and lower healthcare costs. Furthermore, there have been several strategic collaborations among market players to share resources such as research, manufacturing, design, and technology for developing new and innovative products. The market players are mostly involved in joint ventures, partnerships, and mergers & acquisitions, which is likely to promote market growth.
A few strategic initiatives taken by the market players are given below.
In May 2021, Teleflex entered into a definitive agreement to sell certain product lines within the global respiratory product portfolio to Medline Industries Inc.
In May 2021, Medline signed a definitive agreement to acquire select assets under the Hudson RCI brand of Teleflex's Respiratory business.
Market Overview
The Middle East & South Africa airway management devices market is categorized into Saudi Arabia, South Africa, the UAE, and the Rest of the Middle East & Africa. In 2021, Saudi Arabia was the region's largest airway management devices market. The market is expected to grow due to several growth opportunities in South Africa and the UAE. The market for airway management devices market in the Middle East & Africa is anticipated to grow at a CAGR of 6.6% during the forecast period; this growth is attributed to the factors such as rising need for airway management devices, increasing partnerships with foreign entities, and decent growth in the medical device industries in the region.
Middle East & Africa Airway Management Devices Market Segmentation
The Middle East & Africa airway management devices market is segmented into product, end user, and country.
Based on product, the market is segmented into infraglottic devices, supraglottic devices, laryngoscopes, resuscitators, and others. The infraglottic devices segment registered the largest market share in 2022.
Based on end user, the market is categorized into hospitals, ambulatory surgical care centers, and others. The hospitals segment held the largest market share in 2022.
Based on country, the market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the market in 2022.
Teleflex Incorporated; Smiths Medical; Medtronic; Intersurgical Ltd; Ambu A/S; Medline Industries, Inc.; Koninklijke Philips N.V.; ARMSTRONG MEDICAL; and Cook Medical LLC are among the leading companies operating in the airway management devices market in the region.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 70.00 Million |
| Market Size by 2028 | US$ 102.94 Million |
| CAGR (2022 - 2028) | 6.6% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East & Africa Airway Management Devices Market is valued at US$ 70.00 Million in 2022, it is projected to reach US$ 102.94 Million by 2028.
As per our report Middle East & Africa Airway Management Devices Market, the market size is valued at US$ 70.00 Million in 2022, projecting it to reach US$ 102.94 Million by 2028. This translates to a CAGR of approximately 6.6% during the forecast period.
The Middle East & Africa Airway Management Devices Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Airway Management Devices Market report:
The Middle East & Africa Airway Management Devices Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Airway Management Devices Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Airway Management Devices Market value chain can benefit from the information contained in a comprehensive market report.
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