The global anesthesia & respiratory devices market size has enlarged with the factors like rapid urbanization, soaring number of surgical procedures, growth in geriatric population, growing prevalence of respiratory diseases, increase in tobacco consumption and rise in pollution level. Additionally, government’s support for the approval and launch of such devices and innovation for respiratory care devices has further fueled the market growth. The global anesthesia and respiratory devices market size was valued at $ 15.3 million in 2017, and is projected to attain a positive value of $ 32.1 million by 2025, registering a CAGR of 9.9% from 2018 to 2025.
Moreover, growing demand for therapeutic devices for homecare settings and healthcare expenditures reaching its peak, will provide a lucrative growth opportunity for the market. However, factors like risks associated with certain therapeutic, presence of a large pool of undiagnosed population and low adoption rate of new technologies may restrain the market growth.
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On the basis of geography, the segmentation has key regions which includes Asia-Pacific, North America, LAMEA and Europe. In 2016, the region which registered highest global anesthesia & respiratory devices market share is North America and is anticipated to retain its dominance in the upcoming years.
There is growing demand for pulse oximeters and airway pressure devices which have become drivers of this region. Apart from that, technologically advanced product’s increasing demand, high awareness level of the population for food, environment and health, and presence of relatively higher disposable income is driving the market growth.
Another dominating region is Asia-Pacific with high global anesthesia & respiratory devices market share. With the presence of large unmet needs in the developing countries like India and China, there is higher potential for market growth. Along with that, government initiatives to control the deteriorating environmental conditions and improving healthcare infrastructure in Australia and japan will also boost market demand.
In terms of end-user of the global anesthesia & respiratory devices industry, the classification includes homecare, ambulatory service centers, hospitals and clinics. When compared among all these, hospital segment wins the contest, as they are equipped with advanced and specialized respiratory and anesthesia devices. However, clinics are project to record higher CAGR growth.
On the basis of product type, the global anesthesia & respiratory devices industry is bifurcated into respiratory and anesthesia devices. Most dominant segment of the market is respiratory devices as there is higher availability of advanced respiratory devices and increasing prevalence rate of respiratory diseases. Anesthesia delivery machine is also lucrative sub-segment of the market. This is projected to achieve a growth rate value of x.x% during the forecast period. Usage of these devices is mostly in surgeries and assist in monitoring anesthesia levels throughout the procedure.
Providers of the global anesthesia & respiratory devices market offers a broad range of variety and introduction of low priced multi-featured devices have escalated the competition in market within the manufactures. The prominent players operating anesthesia and respiratory device market includes Invacare, Fisher & Paykel Healthcare, GE Healthcare, Drägerwerk AG, Teleflex, Philips Healthcare, OSI systems, Medtronic, Smiths Medical and Getinge AB.
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