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Anesthesia And Respiratory Devices Global Market Report 2024 To 2033 | Resmed Inc., Koninklijke Philips N.V., General Electric Company, Cardinal Health, Inc
Anesthesia And Respiratory Devices Market Share
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According to The Business Research Company's, The anesthesia and respiratory devices market size has grown rapidly in recent years. It will grow from $57.98 billion in 2023 to $64.96 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to increased prevalence of respiratory diseases, coronavirus pandemic, increased number of surgical procedures, and strong economic growth in emerging markets, increased healthcare expenditure, and growing aging population.
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 growth in the forecast period can be attributed to increasing prevalence of obstructive sleep apnea, technological advances, increasing use of tobacco smoking, rise in healthcare expenditure and increasing geriatric population . Major trends in the forecast period include producing smart inhalers, manufacturing pclc devices, consider investing in the research and development of wearable respiratory devices, launching new innovative products, producing portable respiratory devices and others. player-adopted strategies in the anesthetics and respiratory devices market include investing in expanding operations through innovative product launches, and in acquisitions and mergers to strengthen their service offerings.
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Market Drivers and Trends:
The increased prevalence of respiratory diseases is expected to drive the growth of the anesthesia and respiratory devices market. Respiratory disease refers to medical conditions that interfere with breathing and gas exchange by affecting the organs and tissues of the lungs and airway systems. Anesthesia and respiratory equipment are integral to the treatment of respiratory diseases such as tuberculosis by facilitating necessary medical procedures, ensuring patient comfort and safety, and aiding in the monitoring and management of the disease. For instance, in October 2022, according to the Global Tuberculosis Report published by the World Health Organization, a Switzerland-based global health agency, the global incidence of tuberculosis (TB) was estimated at 10.6 million cases, with a rate of 134 cases per 100,000 population in 2021, an increase of 4.5% from 10.1 million in 2020. The majority of TB cases were reported in the Southeast Asia region, accounting for 45% of the total, followed by Africa with 23% of the cases in 2021. Therefore, the increased prevalence of respiratory diseases will propel the growth of the anesthesia and respiratory devices market going forward.
The preference for wearable and portable medical devices is increasing and companies in the anesthesia and respiratory devices market are developing wearable respiratory devices to improve patient monitoring. Wearable respiratory devices are mainly worn on the torso and are used to calculate the patient's breathing rate by measuring movements of the chest wall. They are available in various forms such as small dimensional sensors, belts, and band-aid-like devices. These devices are usually connected to specialty smartphone apps that capture and interpret data and store the data in cloud data repositories focusing on main areas of respiratory healthcare including pulse oximetry, pulmonary ventilation, air quality assessment, and activity tracking. Wearable respiratory devices reduce the workload of healthcare providers, improve the efficiencies of diagnostics, reduce costs incurred by patients in regular checkups and improve patients' comfort. For instance, researchers at the University of California and Khine Labs are investing in major research projects to develop comfortable wearables for patients suffering from respiratory diseases.
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Major Key Players of the Market:
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.
Anesthesia And Respiratory Devices Market 2024 Key Insights:
• 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%.
• Rising Respiratory Diseases Rates Fuel Surge In Demand For Anesthesia And Respiratory Devices
• The Surge In Wearable Respiratory Devices Enhancing Patient Monitoring And Healthcare Efficiency
• Asia-Pacific was the largest region in the global anesthesia and respiratory devices market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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