The global Laryngeal Mask Market size is expected to reach USD 863.7 million by 2028 according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.0% from 2021 to 2028. An increase in the number of surgeries that include anesthesia procedures coupled with the rising morbidity related to chronic diseases is the key contributor to market growth.
The key advantages of the product, such as ventilation management during anesthesia, induction, maintenance, and emergence, are anticipated to drive the market. Furthermore, the placement of these masks does not require laryngoscopy and muscle relaxants like succinylcholine, which is known to cause postoperative myalgia in certain patients. Hence, the usage of these masks greatly reduces the incidence of postoperative myalgia.
There is an increased demand for disposable devices in critical care units. This can be attributed to the cost-effectiveness, easy assembly, and flexible process designs of these technologies. Such factors are anticipated to increase the demand for disposable laryngeal masks over the forecast period. In addition, the products need smaller footprints and lower investment, as they are simpler and do not require sanitization and cleaning. Factors like these are expected to encourage emerging companies with low capital resources to invest in the market.
Related Press Release @ Laryngeal Mask Market Report
Laryngeal Mask Market Report Highlights
- The disposable mask type segment is expected to witness the fastest CAGR of around 6.5% over the forecast period owing to the rising demand for disposable masks in critical care units
- The adult patient segment led the market in 2020 with a revenue share of over 58.8% and will retain its dominant position throughout the forecast period
- The hospitals and clinics end-user segment accounted for the largest revenue share of over 60.3% in 2020
- This higher was attributed to rising awareness and supportive government and favorable reimbursement policies
- Due to the presence of well-established companies and advanced healthcare infrastructure, North America was the leading regional market in 2020
- However, Asia Pacific is anticipated to register the fastest CAGR over the forecast period owing to supportive government initiatives and rapidly developing healthcare infrastructure in emerging countries
- Industry players have undertaken several business strategies, such as mergers and acquisitions, collaborative agreements, and geographic expansion, to gain a higher market share
- For instance, in May 2019, Ambu A/S entered into a strategic partnership with Cook Medical; according to which, Cook Medical distributed Ambu’s products in the U.S.
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