Acumen Research and consulting recently publicize a market study titled “Anesthesia And Respiratory Devices Market Forecast till 2027″ which is a trending topic in the medical and pharmaceutical industry and providing a flawless and narrow study about COVID-19 bleak and lush impact on the industry.
The Global Anesthesia and Respiratory Devices Market is projected to grow at a CAGR of around 6.5% from 2020 to 2027 and reach a market value of over US$ 43.7 Bn by 2027.
North America had the largest market share in 2019 and is expected to continue the same trend in the coming years, ultimately resulting in anesthesia & respiratory device market growth. The presence of prominent players in this region, the high adoption of technologically advanced products and devices, increasing investment by medical devices companies, and rising expenditure on healthcare are factors that contribute to the growth of the global market for anesthesia and respiratory devices growth globally. In addition, Japan has the largest market share for anesthesia & respiratory devices in the APAC regional market. In addition, India and China are exponentially high contributing regions to the growth of the market for anesthesia and respiratory devices globally.
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Rising numbers of end-stage renal disease (ESRD), advanced technologies, and an increase in cost-effective and accurate portable dialysis devices are factors that stimulate the growth of the global market for anesthesia and respiratory devices. According to the estimates published by the University of California San Francisco in 2018, an estimated 2 million people worldwide have suffered from ESRD. As the disease is more prevalent in the patient pool, the demand for anesthesia & respiratory devices is therefore doubled. This eventually results in a growing demand for a rapid yet effective treatment option for the disease-ridden population.
The anesthesia & respiratory devices is broadly segmented based on product and end-user. By product, the market is bifurcated as anesthesia devices and respiratory devices. Anesthesia devices are segmented as machines and disposables. Machines are further segmented into delivery machines, monitors, ventilators, and workstations. Disposables are classified into disposable masks and disposables accessories. Furthermore, respiratory devices are segmented as equipment, disposables, and measurement devices. Equipment is further segmented as positive airway pressure, ventilators, nebulizers, humidifiers, inhalers, oxygen concentrators, and reusable resuscitators. Disposables are further segmented as disposable oxygen masks, resuscitators, tracheostomy tubes, and oxygen cannulae. Measurement devices are segmented as pulse oximeters, capnography, spirometers, and peak flow meters. By end-user, the market is segmented as hospitals, clinics, home care settings, and ambulatory service centers.
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Based on product segment, respiratory devices will have the fastest growth in the coming years. The increasing pool of patients suffering from respiratory diseases, the increasing number of surgical procedures performed on patients, and rising healthcare costs are encouraging factors for the growth of the global market for anesthesia and respiratory devices globally. In addition, anesthesia devices are expected to have a dominant share in the coming years due to high surgeries performed on patients, increasing the demand for anesthesia, resulting in high growth for anesthesia and respiratory devices worldwide.
The major players involved in the anesthesia & respiratory devices market involve CAIRE Inc., B. Braun Medical Inc., Becton, Dickinson and Company, Medtronic plc, Drägerwerk AG, Getinge AB., GE Healthcare, Koninklijke Philips N.V., Teleflex Incorporated., and among others.
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Some of the key observations regarding anesthesia & respiratory devices market include:
- In April 2018, B. Braun Medical Inc., announced receiving first Food and Drug Administration (FDA) local anesthetics for spinal anesthesia product namely, “Clorotekal® (chloroprocaine hydrochloride)”. Clorotekal (chloroprocaine hydrochloride) is indicated for intrathecal injection in adults for the production of subarachnoid block (spinal anesthesia) and is indicated for procedure involving suitable for Clorotekal’s short duration of action.
- In June 2018, Getinge AB announced launched “Flow-c anesthesia machine”. Based on the world-class Servo ventilator platform, and with the same innovative technology as Flow-1, the Flow-c ensures superior ventilation performance with the power and precision needed to ventilate all patient categories. Further, the newly launched product is designed such that it simplifies everyday anesthesia workflow in a fast-paced environment.
- In September 2019, Biovo Technologies Ltd. launched “HyperForm” that is a game changing technology that overcomes the main problem related to the sealing cuff element that plague current product (current name is CleanSweep®) that was acquired by Teleflex and the newly launched Cuffix.
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