Quick Summary:
In a world where healthcare innovation is paramount, the anesthesia and respiratory devices market stands at the forefront of critical advancements. Navigating through an era marked by an increasing prevalence of respiratory ailments and a surge in surgical procedures, industry professionals find themselves amidst a burgeoning demand for state-of-the-art medical devices. The comprehensive market research report provides a detailed analysis that senior executives require to make informed decisions, positioning their organizations to capitalize on emerging opportunities.
The imperative for robust medical infrastructure has never been clearer, especially in light of rising global healthcare expenditures and technological leaps in patient care. With stakeholder attention firmly on enhancing clinical outcomes, the anesthesia and respiratory devices market is experiencing a dynamic shift towards innovation and efficiency. This report delineates key market trends and advancements, providing executives with the insights necessary to spearhead strategic initiatives that align with this growth trajectory. Compiled meticulously, it serves as an indispensable tool for leaders aiming to maintain competitive edge and foster sustainable development in this vital sector.
The anesthesia and respiratory devices market size is expected to see rapid growth in the next few years. It will grow to $99.53 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The projected growth in the anesthesia and respiratory devices market is driven by factors such as the rising prevalence of obstructive sleep apnea, technological advancements, increased tobacco smoking contributing to respiratory conditions, higher healthcare expenditure, and a growing geriatric population. Key trends include the development of smart inhalers, manufacturing patient-controlled liquid analgesia (PCLC) devices, investing in wearable respiratory device research and development, launching innovative products, and producing portable respiratory devices.
The rise in respiratory diseases prevalence is expected to be a driving factor for the anesthesia and respiratory devices market. These diseases impact the lungs and airway systems, requiring essential medical procedures facilitated by anesthesia and respiratory equipment. For instance, the Global Tuberculosis Report in October 2022 noted a global incidence of 10.6 million tuberculosis (TB) cases, with an increase of 4.5% from the previous year. Southeast Asia reported 45% of the cases, with Africa following at 23% in 2021. This surge in respiratory diseases is poised to stimulate the growth of the anesthesia and respiratory devices market.
An increase in healthcare expenditures is predicted to fuel the expansion of the anesthesia and respiratory devices market. The growth in healthcare spending typically corresponds to an emphasis on superior healthcare services, including surgical and respiratory care, driving the demand for advanced devices to enhance patient outcomes. For example, in May 2023, the UK's healthcare spending increased by 9.4% in nominal terms and 9.7% in real terms. The total healthcare expenditure reached $367.25 billion (£280.7 billion) in 2021, with pharmaceutical expenses at $51.84 billion (£39.6 billion) and preventive care at $45.93 billion (£35.1 billion). This escalating healthcare expenditure is set to propel the anesthesia and respiratory devices market forward.
Companies within the anesthesia and respiratory devices market are increasingly dedicated to the development of wearable respiratory devices, aiming to enhance patient monitoring. These devices, typically worn on the torso, track breathing rates by measuring chest wall movements. Available in various forms such as small sensors, belts, or band-aid-such as designs, they connect to specialized smartphone apps that capture, interpret, and store data in cloud repositories. Focused on key respiratory healthcare areas such as pulse oximetry, pulmonary ventilation, air quality assessment, and activity tracking, these wearables alleviate healthcare provider workloads, enhance diagnostic efficiency, cut patients' regular checkup costs, and enhance patient comfort. Notably, initiatives led by researchers at the University of California and Khine Labs underscore a strong investment in developing comfortable wearables for respiratory disease patients.
Major companies operating in the anesthesia and respiratory devices market report are ResMed Inc., Koninklijke Philips N.V., General Electric Company, Cardinal Health, Inc., Medtronic PLC, Fisher & Paykel Healthcare Corporation Limited, Draegerwerk AG, Teleflex Inc., Vyaire Medical, Inc., Smith Group Plc., GE Healthcare, Covidien Healthcare, Metran Co., Ltd., Siemens Healthcare, Opto Circuits, Roche, AstraZeneca, B. Braun, Melsungen, Masimo Corporation, Dixion, SunMed, Getinge Group, CapeRay, Centre for Rapid Prototyping and Manufacturing (CRPM), DISA Vascular, Sinapi biomedical, Ti-TaMED.
Asia-Pacific was the largest region in the global anesthesia and respiratory devices market in 2023. North America was the second largest region in the global anesthesia and respiratory devices market. Eastern Europe was the smallest region in the global anesthesia and respiratory devices market. The regions covered in the anesthesia and respiratory devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the anesthesia and respiratory devices market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
The anesthesia and respiratory devices market consists of sales of instruments such as resuscitators, laryngoscopes, flexible intubation scopes, supraglottic airways, ventilator circuits, HME, and other anesthesia and respiratory instruments that are used for the diagnosis and treatment of respiratory diseases. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. . The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The main types of anesthesia and respiratory devices include respiratory devices and equipment (both therapeutic and diagnostic), anesthesia machines, anesthesia disposables, and respiratory disposables. Respiratory disposables are designed for single-use and are discarded after factors such as excessive breathing resistance, sorbent exhaustion, physical damage, or the end of their service life makes them unsuitable for further use. Expenditure in this market can be categorized as public and private, and the products used include instruments/equipment and disposables. The utilization of these devices spans across various genders, including both male and female, and they find application in multiple end-user settings such as hospitals and clinics, diagnostic laboratories, and other healthcare facilities.
The anesthesia and respiratory devices market research report is one of a series of new reports that provides anesthesia and respiratory devices market statistics, including anesthesia and respiratory devices industry global market size, regional shares, competitors with a anesthesia and respiratory devices market share, detailed anesthesia and respiratory devices market segments, market trends and opportunities, and any further data you may need to thrive in the anesthesia and respiratory devices industry. This anesthesia and respiratory devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Table of Contents
Executive Summary
Anesthesia and Respiratory Devices Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on anesthesia and respiratory devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for anesthesia and respiratory devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Respiratory Devices and Equipment (Therapeutic and Diagnostic); Anesthesia Machines; Anesthesia Disposables; Respiratory Disposables
3) By Type of Expenditure: Public; Private
4) By Product: Instruments/Equipment; Disposables
5) By Gender: Male; Female
2) By End-user: Hospitals and Clinics; Diagnostic Laboratories; Other End-users
Key Companies Mentioned: ResMed Inc.; Koninklijke Philips N.V.; General Electric Company; Cardinal Health, Inc.; Medtronic Plc
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
A selection of companies mentioned in this report includes:
- ResMed Inc.
- Koninklijke Philips N.V.
- General Electric Company
- Cardinal Health, Inc.
- Medtronic Plc
- Fisher & Paykel Healthcare Corporation Limited
- Draegerwerk AG
- Teleflex Inc.
- Vyaire Medical, Inc.
- Smith Group Plc.
- GE Healthcare
- Covidien Healthcare
- Metran Co., Ltd.
- Siemens Healthcare
- Opto Circuits
- Roche
- AstraZeneca
- B. Braun, Melsungen
- Masimo Corporation
- Dixion
- SunMed
- Getinge Group
- CapeRay
- Centre for Rapid Prototyping and Manufacturing (CRPM)
- DISA Vascular
- Sinapi biomedical
- Ti-TaMED.
Methodology
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