Tracheostomy Products Market Worth $220 Million By 2024
Seeking Alpha Analyst Since 2014
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- 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.
Overview of This Study:
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.
Market Size Estimation:
Top-down and bottom-up approaches were used to estimate and validate the total size of the tracheostomy products market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
# The key players in the industry and markets have been identified through extensive secondary research.
# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research.
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the tracheostomy industry.
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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%.
Recent Developments in the Global Market:
# 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.
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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