The Global Anesthesia and Respiratory Devices Market size is expected to reach $32.9 billion by 2024, rising at a market growth of 7.6% CAGR.
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.
Anesthesia devices are used during surgical procedures to control conditions such as pain, breathing, blood pressure, blood flow, and heart rate & rhythm. When anesthesia 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 anesthesia 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 anesthesia and respiratory devices market. Additionally, innovations in the field of respiratory care devices and extended levels of governmental support in approving these devices add 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.
Globally, the Anesthesia and Respiratory Devices Market size is anticipated to attain a value of $32.9 billion by 2024, experiencing a growth rate of 7.6% CAGR. The North America market would dominate the Global Respiratory Equipment Market by Region in by 2024, growing at a CAGR of 5.6 % during the forecast period. The Europe market is expected to witness a CAGR of 6.1% during (2018 - 2024). Additionally, The Asia Pacific market is expected to witness a CAGR of 7.7% during (2018 - 2024).
The Hospitals market dominated the Global Anesthesia and Respiratory Equipment Market by End User in 2017. The Home Care Settings market is expected to witness a CAGR of 8.6% during (2018 - 2024). The Clinics/Physician Offices market is expected to witness a CAGR of 8.2% during (2018 - 2024).
Growing undiagnosed patient pool, risks associated with the adoption of therapeutic and diagnostic devices for neonates, and unwillingness to adopt new technologies, by the physicians are the factors that would limit the market growth.
Based on type, the market is segmented into Respiratory Equipment, Anesthesia Devices, Respiratory Disposables, Anesthesia Disposables, and Respiratory Measurement Devices. Within the product types, the respiratory devices segment is the dominant segment and it is due to growing cases of respiratory diseases and the availability of advanced respiratory devices.
Based on end users, the market is segmented into hospitals, ambulatory service centers, homecare, and clinics. The hospitals segment is the dominant segment, as the hospitals are equipped with specialized and advanced anesthesia and respiratory devices. Clinics nevertheless would grow at the highest CAGR during the forecast period.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America was the leading region in 2017 and would be the dominant region all through the forecast period. The anesthesia and respiratory devices market in the United States would grow, as the number of patients suffering from COPD is growing rapidly, and it is estimated that around 12 million people are suffering from COPD in the United States. Increasing aging population, more number of outpatient surgeries performed and availability of reimbursement for anesthesia and respiratory devices are the factors that are driving the growth of the market in the United States.
The market research report covers the analysis of key stake holders of the 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.
Market Segmentation:
Respiratory Equipment
Positive Airway Pressure
Ventilators
Nebulizers
Humidifiers
Respiratory Inhalers
Oxygen Concentrators
Reusable Resuscitators
Anesthesia Devices
Anesthesia Delivery Machines
Anesthesia Monitors
Anesthesia Ventilators
Anesthesia Workstations
Respiratory Disposables
Resuscitators
Tracheostomy Tubes (TT)
Disposable Oxygen Mask
Anesthesia Disposables
Anesthesia Disposables Accessories
Anesthesia Disposables Masks
Respiratory Measurement Devices
Capnographs
Pulse Oximeters
Spirometers
Peak Flow Meters
Hospitals
Clinics/Physician Offices
Home Care Settings
Other End users
North America
US
Canada
Mexico
Rest of North America
Europe
Germany
UK
France
Russia
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific
LAMEA
Brazil
Argentina
UAE
Saudi Arabia
South Africa
Nigeria
Rest of LAMEA
Medtronic Plc.
Philips Healthcare
Getinge Group
Draegerwerk AG
Masimo
Smith's Medical
Teleflex Inc.
OSI Systems
ResMed.
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