The Anesthesia and Respiratory Device Market is segmented By Product Type (Anesthesia Devices – (Anesthesia Machines, Anesthesia Disposables), Respiratory Devices – (Respiratory Equipment, Respiratory Disposables, Respiratory Measurement Devices); By End-user (Hospital, Specialty Centers, Others); By Geography (North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Nordic Region, Rest of Europe), Asia Pacific (China, Japan, India, Australia, Rest of Asia Pacific), Latin America (Brazil, Mexico, Rest of Latin America), Middle East & Africa (South Africa, Rest of the Middle East & Africa)
The Anesthesia and Respiratory Device Market was valued at US $40.13 billion in 2022 and is projected to reach US $95.63 billion by 2032, growing at a CAGR of 9.02% during the forecast period.
Anesthesia is used to induce unconsciousness during surgery through a breathing mask, or tube or given through a venous line. Respiratory care devices are used for the diagnosis and treatment of respiratory diseases to provide enhanced care to patients suffering from acute and chronic respiratory diseases for sturdy health and wellness. Anesthesia devices are used to control pain, breathing, blood pressure, blood flow, heart rate, and rhythm during the surgical procedure. Factors such as an increase in respiratory disease, rapid urbanization, rise in pollution, growth in the geriatric population, and an upsurge in tobacco consumption drive the growth of the anesthesia and respiratory devices market. Anesthesia machines count for the largest share in the anesthesia product type segment.
The Rise in Chronic Pulmonary Disease: Key Driver
World Health Organization estimates that Chronic Pulmonary Disease is likely to become the third leading cause of death by 2030. Due to the accelerated aging population and risk factors such as tobacco use, exposure to indoor and outdoor pollutants, unhealthy diet, obesity, and other factors COPD is becoming prominent in all the regions of the world which leads to global market growth for anesthesia and respiratory devices market. Moreover, the increase in the geriatric population of COPD and asthma are more likely to boost the market growth for the anesthesia and respiratory devices market. Moreover, the increase in the number of surgeries accompanied by an increase in respiratory diseases has boosted the overall growth of the anesthesia and respiratory device market.
Increase in the Incidence of Surgeries Boost Demand for Enhanced Anesthesia Delivery Machines
The increase in the number of cardiac, neuro, and other chronic conditions in countries such as Brazil and the United States is making vendors focus more on emerging markets that offer potential opportunities due to which the number of surgeries is on the upsurge which is expected to drive the market global market of the anesthesia and respiratory devices market. Anesthesia device usage goes to a wide range of surgeries, it is designed in such a manner so they can provide an accurate and continuous supply of mixed medical gases with anesthetic vapors which are to be delivered to the patients at a safe pressure and flow. The high usage of anesthesia devices boosts the market growth for anesthesia and respiratory devices. During surgical procedures anesthesia devices are used for various purposes such as controlling pain, breathing, blood pressure, and flow and others which leads to high demand for anesthesia devices. Therefore, boosting the market for anesthesia and respiratory devices market.
An Increase in Respiratory Diseases Projected to Boost the Global Anesthesia and Respiratory Devices Market
According to the Australian Disease Expenditure Study in 2015-2016, an estimated 3.5% of the total expenditure on disease in the Australian health system accounting for US$ 4 billion has been attributed to respiratory conditions. Exposure to indoor and outdoor pollutants, consumption of tobacco, and growth of the geriatric population are some of the major causes of respiratory diseases. In the U.K., about 1.2 million people are currently suffering from chronic respiratory diseases which marks a high demand for respiratory devices for treatment in the region thus, adding to the growth of the anesthesia and respiratory devices market globally. Technological advances account for an influential cause for the anesthesia and respiratory devices market. For example, in anesthesia information-management systems real-time guidance using machine learning algorithms is provided to forecast hypotension before the patient falls clinically all of which is done through an intraoperative monitoring device.
Unfavorable Reimbursement of Anesthesia and Respiratory Devices Restraints the Market Growth
All around the world many patients rely on reimbursements to receive treatment. Respiratory Care Diagnostics in particular is facing the challenge of a lack of reimbursements for various diagnostics. In Europe, the reimbursement policies have been dispersed and Asian Countries and RoW regions have negligible reimbursement coverage for respiratory care devices therefore, it serves as a hindrance to the growth of the anesthesia and respiratory devices market. The growing geriatric population calls for the reimbursements needed to treat disease and the lack of inability to provide such demand falls to the downfall of the anesthesia and respiratory devices market. The demand for the administration of anesthetic agents increased due to the surge in complex surgical procedures. To cater to this the government has to disperse the reimbursements of anesthesia in some countries, such regulations can cause a negative impact in the growth of the anesthesia and respiratory device market.
North America to Lead Anesthesia and Respiratory Devices Market
North America held the largest share of more than 25.50% of the global revenue in 2021. The rising geriatric population in the U.S. leading cause of the rise in the volume of surgeries in the country, which boosts the market growth for anesthesia and respiratory devices. According to the U.S. Census Bureau, more than 54 million adults aged 65 years and above were reported in the U.S. in 2021. The adoption of technologically advanced devices, surging investment by pharmaceutical companies, and a rise in healthcare expenditure are the most favorable factors for the growth of the anesthesia and respiratory devices market. With technical advancement comes the price rise for treatment devices, the health cost became an issue after the economic crisis. In order to save the downfall of the market in the U.S., the government introduced new strategies in order to reduce patient stay in the hospital and imposed an excise tax on medical devices. These strategies gave patients and physicians an option for respiratory and anesthesia monitoring and treatment devices for home care.
Top Companies and Recent Strategic Developments
• In November 2022, Molded Devices Inc. acquired two companies from Schauenburg Hose technology, GlobalMed Inc. and Schauenburg-Truplast. The Company currently serves medical devices in clinical areas such as anesthesia, respiratory, ventilation, and others.
• In April 2022. Medtronic collaborated with GE Healthcare, targeting the main focus on unique demands and needs for care at Ambulatory Surgical Centers.
• In November 2022, MCRA announced it to expand its therapy specialization further to include anesthesia and critical care therapy.
• In October 2022, Medtronic made a decision to spin out its patient monitoring and respiratory business into a separate company.
• In July 2022, Hologic launched two new respiratory assays in Europe, each named as The Panther Fusion SARS assay and Novodiag RESP-4 molecular diagnostics test.
• In November 2022, Henely Ion, a new Orleans-based biotech company announced it has merged with HGMT a Colorado biotech start-up.
Years considered for this report
• Historical Years: 2019-2022
• Base Year: 2021
• Forecast Period: 2022-2032
Anesthesia and Respiratory Devices Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/ projections/ forecast for revenue and unit sales (2022 - 2032)
• Data breakdown for application Industries (2022 - 2032)
• Integration and collaboration analysis of companies
• Capacity analysis with application sector breakdown
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategies adopted by emerging companies
Industry Segmentation and Revenue Breakdown
Anesthesia and Respiratory Devices Market by Product Type (Revenue, USD Million, 2022 - 2032)
• Anesthesia Devices
→ Anesthesia Machines
→ Anesthesia Disposables
• Respiratory Devices
→ Respiratory Equipment
→ Respiratory Disposables
→ Respiratory Measurement Devices
Anesthesia and Respiratory Devices Market by End-user (Revenue, USD Million, 2022 - 2032)
Anesthesia and Respiratory Devices Market by Geography (Revenue, USD Million, 2022 - 2032)
• North America (U.S., Canada)
• Europe (Germany, France, U.K., Italy, Spain, Nordic Region, Rest of Europe)
• Asia Pacific (China, Japan, India, ASEAN, Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East & Africa (GCC, South Africa, Rest of the Middle East & Africa)
Key Players Operating in the Global Anesthesia and Respiratory Devices Market include
• B. Braun Melsungen AG
• CareFusion Corporation
• Covidien plc
• Draegerwerk AG & Co. KGaA
• Getinge Group, Fisher & Paykel Healthcare
• GE Healthcare
• Philips Healthcare
• Smiths Medical
• Teleflex Incorporated
Available Versions of Global Anesthesia and Respiratory Devices Market Report:
The United States Anesthesia and Respiratory Devices Market Report
Europe Anesthesia and Respiratory Devices Market Report
Asia Pacific Anesthesia and Respiratory Devices Market Report
India Anesthesia and Respiratory Devices Market Report
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