Global Anesthesia and Respiratory Devices Market Analysis (2017-2023)
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The Global Anesthesia and Respiratory Equipment Market size is expected to reach $30.1 billion by 2023, rising at a market growth of 7.3% CAGR during the forecast period. Respiratory care devices are majorly used in diagnosing and treating respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, tuberculosis, and pneumonia. The use of these devices leads to better patient care, helping patients suffering acute and chronic respiratory diseases. The prevalence of respiratory diseases has witnessed rapid growth, and the growing patient pool with respiratory diseases would be a major factor that would drive the market growth. Anaesthesia devices are used during surgical procedures to control conditions such as pain, breathing, blood pressure, blood flow, and heart rate & rhythm. When anaesthesia is used in patients, loss of sensation or awareness is experienced. Analgesia (relief from or prevention of pain), paralysis (muscle relaxation), amnesia (loss of memory), or unconsciousness are some of the states experienced by the patient when anaesthesia is administered.
Growing cases of respiratory diseases, rapid urbanization, rapid growth in the number of surgical procedures, growing population, growth in geriatric population, and increase in tobacco consumption are the factors that are driving the growth of anaesthesia and respiratory devices market. Additionally, innovations in the field of respiratory care devices and extended levels of governmental support in approving these devices adds to the market growth. Rapidly growing demand for therapeutic devices in homecare settings and significant increase in the healthcare expenditures are other factors that offer lucrative growth opportunities for the market.
Based on Type, the Anesthesia and Respiratory Equipment market segments the market into Anesthesia Devices, Anesthesia, Disposables, Respiratory Equipment, Respiratory Disposables, and Respiratory Measurement Devices. Anesthesia Devices is further segmented into Anesthesia Delivery Machines, Anesthesia Monitors, Anesthesia Ventilators, and Anesthesia Workstations. Anesthesia Disposables includes Anesthesia Disposables Masks and Anesthesia Disposables Accessories.
Respiratory Equipment is segmented into Positive Airway, Pressure Ventilators, Nebulizers, Humidifiers, Respiratory Inhalers, Oxygen Concentrators, and Reusable Resuscitators. Respiratory Disposables includes Resuscitators, Tracheostomy Tubes (TT), and Disposable Oxygen Mask. Respiratory Measurement Devices includes Pulse Oximeters, Capnographs, Spirometers, and Peak Flow Meters. Based on End-User, the market report segments the market into Hospitals, Clinics/Physician Offices, Homecare Settings, and Ambulatory Service Centers. Based on Regions, the Anesthesia and Respiratory Equipment market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the Global Anesthesia and Respiratory Equipment Market. Key companies profiled in the report include Medtronic Plc, Philips Healthcare, Getinge Group, Draegerwerk AG, Masimo, Smith's Medical, Teleflex Inc., OSI Systems, ResMed, and Mindray Medical International Limited.