Author: Vikas Kumar
24 May 2022
Anesthesia and Respiratory Devices Market is expected to grow at a CAGR of around 7% during the forecast period 2021-2027.The global anesthesia and respiratory devices market is expected to witness robust growth mainly due to the rising prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), obstructive sleep apnea (OSA), and asthma and the rise in surgeries anesthesia machines, and anesthesia disposables. Moreover, the increase in the availability of more advanced devices coupled with the rising aging population base are some of the factors likely to boost the market during the forecast period. For instance, as per the World Health Organization (WHO), about 4 million people die prematurely from respiratory diseases across the world. Thus, with the growing incidence of respiratory illness, the demand for preventive and curative medicine will increase, thereby driving anesthesia and respiratory devices market growth.
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Respiratory diseases, such as respiratory infections, asthma, lung cancer, and COPD are increasing at an alarming rate and are the leading cause of death all around the globe. Anesthesia devices are designed in such a way that they deliver a specific and constant supply of oxygen or nitrous oxide mixed with anesthetic vapors with safe pressure and flow to the patient.
The COVID-19 pandemic has had an unparalleled impact on the socio-economic and healthcare structure across various countries. During COVID -19 period, people have seen their daily lifestyles change drastically. In addition, the COVID-19 outbreak spread to almost every country, to take care of the infected population the demand for medical supplies is growing enormously. Respiratory support devices such as atomizers, oxygen generators, life-support machines, and monitors are among the majorly used medical devices in primary clinical treatment. Moreover, the pandemic has led to high demand for personal protective equipment including masks, gloves, and protective eyeglasses. For instance, The World Bank predicts that the global economic output is expected to expand by 4% in 2021 while 3.8% in 2022. Thus, restraining market growth to some extent in the year 2020.
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Based on product type, the market is bifurcated into anesthesia devices and respiratory devices. Among these, the respiratory devices category accounted for the major share in the market owing to the developing healthcare set-ups, increasing healthcare expenditure, and growing occurrences of lifestyle-associated diseases such as asthma, COPD, and OSA. In addition, the rising geriatric population coupled with unhealthy lifestyles and hormonal imbalances across the globe is further expected to drive the market
Based on end user, the market is bifurcated into hospitals, clinics, homecare settings, ambulatory surgical centers, and others. In 2020, the hospitals category accounted for the majority share in the global market. Furthermore, the availability of advanced equipment, which has higher accuracy and features to perform multiple tests, is another vital driver for the growth.
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For a better understanding of the market, the report is analyzed based on different regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Spain, Rest of Europe); Asia-Pacific (China, India, Japan, Australia, Rest of Asia-Pacific); and Rest of World. North America has dominated the anesthesia and respiratory devices market which is attributable to the surging prevalence of respiratory diseases, rise in per capita health expenditure in the region, and an increasing number of smokers population. Furthermore, the growing geriatric population in the U.S. is driving the demand for surgical procedures which is fueling the growth of anesthesia devices.
Some of the major players operating in the market SunMed, Smiths Group plc, ResMed, Masimo, Koninklijke Philips N.V., Invacare Corporation, Teleflex Incorporated, Hamilton Medical, GE Healthcare, Fisher & Paykel Healthcare Limited
Anesthesia and Respiratory Devices Market Segmentation
Market Insight, by Product Type
• Anesthesia Devices
o Anesthesia Machineso Anesthesia Monitorso Anesthetic Information Management Systemso Others• Respiratory Deviceso Respiratory Equipmento Respiratory Disposableso Respiratory Measurement Deviceso Others
Market Insight, by End User
• Hospitals
• Clinics• Homecare Settings• Ambulatory Surgical Centers• Others
Market Insight, by Region
Top Company Profiles
• SunMed
• Smiths Group plc• ResMed• Masimo• Koninklijke Philips N.V.• Invacare Corporation• Teleflex Incorporated• Hamilton Medical• GE Healthcare• Fisher & Paykel Healthcare Limited
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