Anesthesia and Respiratory Devices Market Growth Analysis till 2028

Anesthesia and Respiratory Devices Market Outlook 2028

• The global anesthesia and respiratory devices market was valued at US$ 34.03 Bn in 2020
• It is estimated to expand at a CAGR of 8.6% from 2021 to 2028

• The global anesthesia and respiratory devices market is expected to reach the value of US$ 68.58 Bn by the end of 2028

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Increase in Geriatric Population Contributing to Market Growth

Sophistication and persistent technological advancements by respiratory and anesthesia device manufacturers have boosted the growth of this industry. A shift in patient preference from hospital care devices to home healthcare devices has accelerated the growth of this market and encouraged the provision of easy-to-use and portable devices that have paved way to revive this once mature market.

Chronic obstructive pulmonary disease (COPD) is considered to be one of the leading causes of death in developing countries. Rise in geriatric population suffering from COPDs and asthma is further expected to accelerate the anesthesia and respiratory devices market. The increase in pulmonary diseases has helped in growth of this market. Moreover, surge in geriatric population has led to a rise in the number of surgeries performed in the country. In addition, rise in the number of surgeries coupled with increase in incidence of respiratory diseases has boosted the overall growth of this market.

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Increasing incidence of respiratory diseases due to aging is also responsible for the expansion of the global anesthesia and respiratory devices market.
Technological Advancements in Anesthesia and Respiratory Devices Boost Global Market
Technological advancement in anesthesia and respiratory devices is expected to drive the global market during the forecast period.

Increasing adoption of anesthesia and respiratory devices due to increasing surgical procedures across the globe is projected to accelerate the market growth in the upcoming years. The emergence of advanced manufacturing processes is creating beneficial opportunities for device manufacturers.

Manufacturers operating in the global anesthesia and respiratory devices market are increasing their production portfolio to fulfill the demands from the healthcare sector.

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Different anesthesia machines such as anesthesia workstation, anesthesia delivery machines, anesthesia ventilators, and anesthesia monitor are designed in such a way that they provide precise and constant supply of oxygen or nitrous oxide mixed with anesthetic vapors with safe pressure and flow to the patient.

Anesthesia devices include anesthesia machines and anesthesia disposables. Anesthesia machines account for the largest share of the anesthesia devices product type segment.

The market for anesthesia delivery machines is expected to grow at a rapid pace. The respiratory devices segment includes respiratory equipment, disposables, and respiratory measurement devices. Respiratory equipment include humidifiers, nebulizers, oxygen concentrators, positive airway pressure devices, ventilators, and inhalers.

North America Dominates Global Anesthesia and Respiratory Devices Market

North America will hold a prominent place in the regional charts owing to the high adoption of technology and rapid advancements. This paves the way for extensive and intense use of anesthesia and respiratory devices.

Besides, improvements in healthcare infrastructure and medical services are also responsible for the anesthesia and respiratory devices market growth in the region. Additionally, rise in aging population, health awareness, and number of surgeries is some of the factors driving the market in North America.

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New opportunities will also arise in the Asia Pacific (APAC) regional landscape for players due to a number of factors such as increase in prevalence of COPD, health awareness, and geriatric population. The Asia Pacific market is driven by increasing respiratory disease population and rising disposable incomes coupled with changes in lifestyle. In addition, economic development and healthcare reforms would increase the government funding in its intensive R&D and would trigger the growth of this market in the Asia Pacific region.

Anesthesia and Respiratory Devices Market: Overview

• An anesthetic machine is also called as anesthesia machine. It is a medical device used to generate and mix a fresh gas flow of medical gases & inhalational anesthetic agents for the purpose of inducing and maintaining anesthesia.

• Respiratory devices provide respiratory gas mechanically to patients with impaired respiratory function. The respiratory gas is usually enriched with oxygen and conveyed into the lung with a positive pressure generated by the device.

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Increase in Incidence of Chronic Pulmonary Disease: Key Driver

• According to new estimates by the World Health Organization, COPD is likely to become the third leading cause of death by 2030

• In 2018, around 15.7 million people in the U.S. were diagnosed with COPD and above 50% of adults with low pulmonary function were not aware that they had COPD

• Increase in geriatric population suffering from COPDs and asthma is projected to accelerate the growth of the anesthesia and respiratory devices market. Hence, rise in pulmonary diseases is anticipated to boost the growth of the market.
Rise in Number of Surgeries Propel Demand for Development of Enhanced Anesthesia Delivery

Machines: Major Driver

• Anesthesia devices are used in all types of surgeries, as these are designed to provide an accurate and continuous supply of mixed medical gases with anesthetic vapors, which is delivered to a patient at a safe pressure and flow

• During a surgical procedure, anesthesia devices are used to control pain, breathing, blood pressure, blood flow, and heart rate & rhythm. Medical conditions caused by anesthesia can include analgesia (relief from or prevention of pain), paralysis (relaxation of the muscles),
amnesia (loss of memory), and unconsciousness.

• The number of cardiac, neuro, and other chronic conditions is increasing at an alarming rate in countries such as Brazil and the U.S. Hence, key vendors focus on emerging markets that offer lucrative opportunities.

• Therefore, surge in the number of surgeries is expected to drive the global anesthesia and respiratory devices market

Respiratory Equipment Segment to Dominate Respiratory Devices Sub-segment

• The respiratory equipment segment is likely to dominate the respiratory devices sub-segment during the forecast period

• The respiratory equipment segment comprises humidifiers, nebulizers, oxygen concentrators, reusable resuscitators, ventilators, and inhalers

• Respiratory equipment is required for measurement of respiratory functions, volume, flows, indices of gas exchange, and other therapeutic applications. Philips Healthcare, Draeger, Teleflex, and Masimo Corporation are key players in the respiratory devices market.

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North America to Lead Anesthesia and Respiratory Devices Market

• In terms of region, the global anesthesia and respiratory devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

• North America is projected to dominate the global anesthesia and respiratory devices market during the forecast period. The region accounted for major share of the global market in 2020 and expanding at a high CAGR rate from 2021 to 2028.
Major Players

• Key players operating in the global anesthesia and respiratory devices market include

o AirSep
o B. Braun Melsungen AG
o CareFusion Corporation
o Covidien plc
o Draegerwerk AG & Co. KGaA
o Getinge Group, Fisher & Paykel Healthcare
o GE Healthcare
o Philips Healthcare
o Smiths Medical
o Teleflex Incorporated

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