Global Anesthesia And Respiratory Devices Market Size 2024, Forecast To 2033

The anesthesia and respiratory devices market size has witnessed rapid growth, surging from $57.98 billion in 2023 to $64.96 billion in 2024, representing a compound annual growth rate (CAGR) of 12.0%. This growth in the historic period can be attributed to the increased prevalence of respiratory diseases, the impact of the coronavirus pandemic, a rise in surgical procedures, strong economic growth in emerging markets, increased healthcare expenditure, and a growing aging population. Anticipating continued growth, the market is projected to reach $99.53 billion in 2028 at a CAGR of 11.3%. Factors driving this growth include the increasing prevalence of obstructive sleep apnea, technological advances, the rising use of tobacco smoking, an increase in healthcare expenditure, and a growing geriatric population. Prominent trends in the forecast period involve the production of smart inhalers, manufacturing PCLC devices, investing in the research and development of wearable respiratory devices, launching innovative products, producing portable respiratory devices, among other player-adopted strategies such as expanding operations through innovative product launches and acquisitions.