Pune India, Dec. 22, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the anesthesia and respiratory devices market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the anesthesia and respiratory devices market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, end user and region. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global anesthesia and respiratory devices market are General Electric Company, Medtronic, Teleflex Inc., Koninklijke Philips N.V., Drägerwerk AG & Co. KGaA, Getinge AB., Smiths Group plc,Fisher & Paykel Healthcare Ltd., Masimo, B. Braun Melsungen AG, ResMed, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. among others. To achieve a substantial market share in the worldwide anesthesia and respiratory devices market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Respiratory devices are used to administer the required amount of oxygen to patients with impaired respiratory organs. Anesthesia equipment is used to control blood pressure, heart rate, and breathing as well as to reduce discomfort. Anesthesia equipment helps to create a brief loss of sensation. Surgery can thus be performed more precisely as a result. Respiratory equipment is used by clinics, ambulatory service providers, homecare providers, and hospitals. The COVID-19 epidemic has raised demand for medical equipment globally, including ventilators and other vital sign monitoring tools. Therefore, in some circumstances, specific gadgets might need to be modified in order to treat extremely ill individuals. For instance, it could be necessary to modify anaesthesia and transport ventilators in order to give patients with long-term ventilation. In order to address the growing demand for medical equipment during the COVID-19 epidemic, firms also made investments in the creation of new items. A non-invasive ventilation device for COVID-19 patients in the intensive care unit (ICU) was introduced by InnAccel Technologies, for instance, in April 2020. These factors led to the pandemic's favourable effects on the market for ventilators. Additionally, the capnography equipment market suffered greatly. For assessing patients with COVID-19 analgesia/sedation and breathing, equipment that measures end-tidal carbon dioxide (ETCO2) or capnography has proven to be a useful adjuvant. For Masimo, a developer, producer, and distributor of noninvasive monitoring tools, such as capnography systems, the pandemic posed both significant challenges and opportunities.
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Scope of Anesthesia and Respiratory Devices Market Report
|Market Share Unit||47 USD Billion|
|Segments Covered||Type, End User and Regions|
|Regions Covered||North America, Europe, Asia-Pacific, South America and Middle-East and Africa|
|Major Players||General Electric Company, Medtronic, Teleflex Inc., Koninklijke Philips N.V., Drägerwerk AG & Co. KGaA, Getinge AB., Smiths Group plc,Fisher & Paykel Healthcare Ltd., Masimo, B. Braun Melsungen AG, ResMed, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. among others|
The respiratory devices segment is expected to be the fastest-growing segment in 2021.
The product segment is Anaesthesia Monitoring Devices, Anaesthesia Delivery Systems, and Respiratory Devices. The respiratory devices segment is expected to witness the highest growth rate during the forecast period. The increased frequency of respiratory illnesses, the availability of cutting-edge respiratory devices, an increase in the number of procedures performed, and rising healthcare expenses are anticipated to be the primary drivers of category expansion over the upcoming years. A piece of medical gear called a respiratory device is used to help a patient who is having problems breathing. Asthma, COPD, fibrosis, and acute respiratory distress syndrome are just a few of the conditions that can be managed and cured with the help of these gadgets. The section of anaesthetic devices includes anaesthesia machines and anaesthesia disposables.
The hospitals segment is expected to be the fastest-growing segment in 2021.
The end user application segment includes Hospitals, Ambulatory Service Centres, Homecare, and Clinics. The hospitals segment is expected to witness the highest growth rate during the forecast period. With the rising incidences of respiratory diseases, the hospital segment is dominating.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the anesthesia and respiratory devices include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The North America region witnessed a major share. The ageing population in the U.S. will lead to an increase in procedures, which will aid in the sector's continued growth. For instance, the U.S. Census Bureau predicts that there will be over 54 million seniors living in the nation by 2021. Furthermore, according to the World Health Organization, the share of elderly people will rise from 12% in 2015 to 22% in 2050. The government has also had to enact new policies to reduce hospital stays and impose an excise tax on medical equipment due to issues with healthcare cost control brought on by the economic crisis.
Germany's anesthesia and respiratory devices market size was valued at USD 0.60 billion in 2021 and is expected to reach USD 0.87 billion by 2029, at a CAGR of 4.8% from 2022 to 2029. As the number of elderly persons with COPD and asthma increases, it is anticipated that the market for anesthesia and respiratory equipment will grow faster. Consequently, it is anticipated that the rise in pulmonary illnesses will hasten market growth.
China’s anesthesia and respiratory devices market size was valued at USD 0.80 billion in 2021 and is expected to reach USD 1.2 billion by 2029, at a CAGR of 5.5% from 2022 to 2029. Rising smoking rates are also contributing to an increase in respiratory illnesses such as emphysema, bronchitis, cancer, and other lung disorders.
India's anesthesia and respiratory devices market size was valued at USD 0.74 billion in 2021 and is expected to reach USD 1.1 billion by 2029, at a CAGR of 5.1% from 2022 to 2029. Due to rising respiratory disease prevalence, growing senior population, and rising costs to create healthcare infrastructure.
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven due to the increasing cases of cancer.
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