Tracheostomy Products Market To See Major Technological Makeover In Near Future
Summary
- Research Methodology Used.
- Geographical Scenario.
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 the Global Industry:
# 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.
What the Market Looks Like?
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% during the forecast period.
Download PDF Brochure @ Tracheostomy Products Market
Geographical Growth Prospects:
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.
What Drives the Market?
The growth of the global ATP Assays Industry is primarily influenced by the following factors:
# Increasing Prevalence of Respiratory Diseases & Disorders
# Technological Advancements
# Favorable Reimbursement Scenario
# Rising Patient Demand for Home Care Services
# Clinical Evidence for the Safety and Efficacy of Tracheostomy Devices
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